What is happening with Lindian? Astral Resources and Antilles Gold looking interesting

The market decided to focus on rare earths last week with the whole sector rallying quite strongly. The one exception to this was Lindian Resources, which moved back to record lows. For a while there it was a good performer as Privthi Energy Nigeria, a sizeable oil company in Nigeria, was gently accumulating stock. It went from nothing to 97 million shares, or 8.5%, in the months leading up to 26/5/25. The share price recovered to 13c at the time but has since fallen back to 8.6c with Prithvi stepping back from the market.

Prithvi is believed to be friendly with the former chairman, Asimwe Kabunga, who still owns about 11% of the stock. Is it Prithvi a buyer of more, or will it be exiting? Exiting would not make sense.

Given it is has such a good rare earth deposit in Malawi, the shares should be performing better. I do not think the new management is delivering for shareholders.
 

 WeeklyComm19July2025.pages.pdf