Lindian Resources (ASX:LIN) said it has received board approval from NBS Bank for a AU$16.6 million composite facility comprising AU$6.6 million in asset finance with a five-year tenor and 18-month grace period, and AU$10 million in working capital with a three-year tenor, according to a Wednesday Australian bourse filing.

The company said the asset finance facility will reimburse 90% of the Komatsu owner-operator mining fleet that Lindian has already paid, while the working capital facility will provide an additional liquidity buffer to support operational activities during ramp-up and ongoing operations.

Following its recently completed AU$100 million institutional placement disclosed on April 1, Lindian said it is progressing main construction, with a strong balance sheet and no core project finance debt, and that the NBS Bank facilities will be used for asset finance and working capital purposes only.