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LONDON - Andrada Mining Limited (AIM:ATM) reported a 33% increase in annual revenue to £23.8 million for the year ended February 28, 2025, driven by higher tin prices and improved production volumes.
The African critical minerals producer saw its contained tin production rise 4.1% to 921 tonnes, while tantalum concentrate output surged sevenfold to 50.6 tonnes. The company’s tin recovery rate improved to 72% from 69% in the previous year.
Gross profit increased 72% to £3.0 million, and operating loss narrowed 52% to £3.9 million. The company achieved positive EBITDA of £0.5 million, compared to a £4.8 million loss in the prior year.
"FY2025 was a year of delivery and strategic progress," said Glen Parsons, Chairman of Andrada. "We advanced Andrada’s growth trajectory through the transformational partnership with SQM, the consolidation of our licence base, and continued operational improvements at Uis."
The company secured several financing arrangements during the year, including a N$175 million (£7.5 million) multi-facility package from Bank Windhoek and a US$2.5 million shareholder funding for a new jig plant at its Uis operation.
Post-period events include the completion of jig plant construction, a £4.5 million equity subscription at a premium by Talent10, and a high-grade tin ore supply agreement with Goantagab.
The company also announced that Non-Executive Director Terence Goodlace will step down effective September 30, 2025.
Looking ahead, Andrada plans to ramp up jig plant production to double contained tin output, continue exploration with SQM at Lithium Ridge, and expand resources at Brandberg West and Uis.
This article is based on a press release statement from Andrada Mining Limited.
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