Lindian Resources (ASX:LIN), a mineral explorer based in Australia, experienced a 5% increase in shares to A$0.21.

The surge is reported to be a response to a higher exploration target for the Kangankunde Rare Earths Project in Malawi.

The company revealed the central carbonatite used for rock fertilizers lies between 400 million tonnes to 800 million tonnes of grading.

Despite the positive development, Lindian Resources is reportedly poised to face its fifth consecutive week of losses, with a 2% drop in value to date.

On a year-to-date basis, the company’s stock has risen by 29% at the last closed trading session.

Lindian Resources is an Australian mineral exploration company focused on the discovery of rare earth minerals.