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The ongoing court case between Lindian Resources (ASX:LIN), Valley Resources Development, and Deep Blue Sea (ASX:DBS) has today been thrown out by the High Court of Malawi with full costs awarded in favour of Lindian.
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Lindian shares duly jumped on the news, advancing as much as +8% through early Thursday trade; the company is at 12.8cps at time of writing.
No surprise either, Lindian is happy with the ruling – the explorer declared it “welcomes the outcome” and will now get back to work at the Kangankunde Rare Earths Project, which had been at the heart of the dispute.
Deep Blue Sea’s claim – now dismissed – was originally lodged in October 2024 and had revolved around fees and rights between Lindian and Rift Valley.
Lindian filed a defence in January earlier this year and had been awaiting a ruling; it argued the claims were “baseless” and that Deep Blue Sea had “no role or involvement” in the transaction between Lindian and Rift Valley.
“This outcome removes any uncertainty,” the company wrote in today’s update.
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With the legal case closed, Lindian is now getting back to work in Malawi. It also just yesterday closed an REE offtake deal with Iluka Resources (ASX:ILU), which then helped it add as much as +33% value in trade.
Through to this morning, LIN shares have been up +63% YTD.
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