The shares of rare earths junior Lindian Resources Ltd (ASX:LIN, OTC:LINIF) have been approved to trade on the OTCQB Venture Market in the USA, paving the way to attract a broader investor base in the US.
Cross-trading on the OTCQB — which commenced at market open on February 28, 2024, under the symbol LINIF — will provide easier trading access for investors in the US, and should bring greater liquidity by reaching a broader geographic pool of potential investors.
The OTCQB cross-trading facility will also provide US-based investors with the ability to access Lindian’s shares in US dollars during US market hours.
Trading on the OTCQB will enable the company to engage with a network of data distributors and media partners directly through the US-facing OTC Markets platform.
Greater visibility for Kangankunde
Lindian’s executive chairman Asimwe Kabunga said: “We are pleased to confirm trading on the OTCQB Venture Market in the United States.
“With growing investor interest in the rare earths sector, Lindian is well-placed to attract a broader investor base in the United States and build greater visibility for our company and the world-class Kangankunde Rare Earths Project in Malawi which has huge resource tonnage, high grades and, uniquely, non-radioactive material.
“We reiterate that we continue to make good progress on the Stage 1 mine development and processing operation with our feasibility study due to be reported very soon.
“Lindian retains a strong cash position and the financial flexibility to deliver on our stated project development goals.”
The OTCQB market listing and regulation regime closely aligns with the ASX, which means there are minimal additional compliance obligations to the company associated with this listing. The company notes that the ability to trade in the company’s existing ordinary shares on the ASX will not be affected by having the OTCQB facility and no new ordinary shares have been issued.