Andrada Mining Ltd - Technology metals mining company focused on exploration licences in Namibia - Says it is implementing an "ore sorting circuit" at its flagship Uis Mine in Nambia, which will help to increase tin concentrate to 2,000 tonnes per annum from 1,500. The company has also optimised the mine's tantalum circuit, and expects to make the first shipment of concentrate to Afrimet Resources AG, a Switzerland-based company focused on African-sourced metals and minerals, by the end of March. Andrada says it has received several non-binding offers for a partnership interest at the lithium project level, and that these discussions are "progressing well".
Chief Executive Officer Anthony Viljoen says: "While Andrada focusses on achieving its ultimate goal of unlocking the scale potential of its deposits, the short-term goal of maximising revenues from current operations remains key to providing free cashflow for the organisation, whilst simultaneously derisking the flow sheet. The expansion of tin production will enable Andrada to align with its royalty obligations, whilst the commercial production of tantalum will fulfil a supply agreement with Afrimet."
Current stock price: 4.70 pence per share, down 6.0% in London on Tuesday
12-month change: up 12%
By Hugh Cameron, Alliance News reporter
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Andrada Mining. (ATM)