Member Info for Antroot

Looking back at may 2023 report. The target was to have 2500tpa of contained tin by 2025. If that objective is met, I guess revenue could be upwards of 60 million.

But unsure if that will be met without high grade tin.

Nonetheless, there is a feeling in my opinion that ant is chewing more then he can bite, such as doing things sporadically at brandberg, lithium ridge and uis and expansion project and not getting anything done, maybe with small teams going back and fourth.

I would think it might be better if he concentrated on just establishing pegmatite resources at uis and keep expanding production at least up to 5000tpa and at least take a step back from brandberg because whilst the grade are high with some drilling, I think this team is too small to go for copper and will require a farmout partner.

Also hardly see any interviews who asks him difficult questions or about timelines etc. because while the tin fundamentals are there, there are other miners who are exploring and building that the fundamentals vanish away.

Https://m.miningweekly.com/article/andrada-completes-construction-of-jig-plant-at-uis-mine-2025-08-21

Yes currently going through commissioning or testing with the uis ores, no idea when it goes into formal operations.

Surely Rawlinson would have insider info, perhaps he would have wanted to wait a bit before selling. People who bought in at less than 2p are in profit, so million or so shares to cash in would have made some profit.

It should be noted that if andrada can output up to 2500 ton pa of tin. That with current economics say of 33k-35k is around 80 million per annum.

No guidance given but the commission was finished last month, so really coming future we should expect at least 2k concentrate output. The petallite offtakers well I think they can't find any buyers perhaps because it's still in oversupply but lithium majors have seen uptick in share price.

Yes the sp has been stagnant for ages, but the timeline hasn't been posted anymore.

I think the aim was to get lithium, tin and tantalum from uis. The news about lithium offtake has been nonexistent since that tweet about Japan testing.

If the next RNS will be about doubling tin output. We could see 5p range but continuous improvement by 2-5% RNs is ridiculous and is just margin of error really.

Yea, hopefully stays between 35-40k over next few years and possible hedge to 40-45k, with minimum at 35k.

The volatility of going north of 50k is not really something to look forward.

By all means if ant can get the 2nd jig running and hopefully raising the margin, and there might be a possibility of not going into big debt and cash flow positive is what London market wants.

All the gold stocks have risen 100% well the ones with good balance sheets, I don't see why this can't be emulated here.

Yes with tin hovering at 35k, which might stay that way for while and ant isn't able to take advantage of itz I am afraid to say this team might lack execution decision. But they might stay @ 30k operation. The margin is something market is looking for and not the hype at the moment especially in London market, which has slipped down in terms of ipo being launched.

Https://m.miningweekly.com/article/andradas-uis-lithium-pilot-plant-commissioned-2023-11-27

This is what I meant really, it's been nearly 2 years, but no report on test verification or who might be offtaking. Apart from the Japanese one, so it does feel like it's been ongoing for a while but not much on it. Would have expected to hear from Europeans but I don't know they are busy with regulations on toothbrush or showerhead or something like that.

Has there been any news on the petallite off takers, this has been going on for ages? Does it need several years just for testing? Or is it that there is oversupply in the market at the moment and buyers aren't too concerned?

Slightly positive then negative. Aisc 29k but I suppose that includes tantalum, unsure if they can stay under 30k after integration of lithium circuit, however they have processed 120 tons for testing which has gone forever.

The potential in brandberg if this outfit can execute then I do see it as growing towards mid tier miner though how much of that is 10% tin is well...still needs work.

I can't see why sp can't double from here after they output double the tin but has to be said not yet in that profit zone but getting close.

Positive news on the coming jig operation. Though the real news would be the operation cost of production. Perhaps we shall find that out in few months time.

Even if ant manages to get down to 28k max that would be ok but getting to sub 25k would be a money printer.

Yes, have read the 17th RNS, I am adding my extra opinion on it. Which on the AIM market can be widely speculative to the what's happening on the ground and biased against the retail investors lot of time.

They want to get 20k from guant and 20k from uis, are they going to do the split?

Well it does and doesn't.

What I mean is that is the target as stated. But the regulatory environment around doesn't seem to be fully matured and the jorc hasn't been fully laid out, and andrada hasn't fully verified via drilling about the size of the reserves.

So naturally low grade at 0.10% from uis mixed with 1% to possibly get consistent output of say 0.5% -0.75 might mean incremental slow decrease reserves at the goantagab.

Other thing that might play out if the conservative might see there's too many rolling trucks, high number of employees or other mining activities that might curtail productivity etc.

The trouble with admixture is that the profit sharing scheme might be more complicated but buying the mine itself would allow andrada further flexibility albeit at the cost of 15 million USD.

I hope to an extent you see what I am saying.

Wonder though, if it might be feasible to mix with low grade @ uis with some high grade ore. If for instance there is limit to how many trucks, ore mining limitation etc...is in place.

Humm, yes...I suppose junior mining is highly dependent on the team especially as they can't move flexibly like majors can.

I think it hinges on operating cost here. Trajectory keeps moving up, though the trouble was the low grade. If they have managed to secure high grade then that I would think overall bring the operating cost down. Some are saying the cost will go down to 25k, if that's the case this stock will be a money printer but if it stays around more than 30k, I think this outfit doesn't have what it takes to fully realize being a miner.

*30% hedged price

Tin price hovering around 33k, fully hedged price now 100%.

The risk being Ant will ensure the operating cost will now be close to 35k 😂.

Narrative wise it makes sense but Ant just hasn't given details about the economics of production or any offtake agreement whereby the thing waseant to be around 10k ton pa.

That is I mean petallite is not best metallurgy to convert to lithium carbonate or hydroxide. And wouldn't command a premium and with lithium prices at all time low, could the margin with tin+ lithium make production cost higher over 30-35 k USD that the margin becomes almost negligible.

I mean the way ant has been quite about petallite offtake could suggest something like that, but he can always prove me wrong and would be delighted by that.

Yea, any mentions shaving 4 to 6 thousand off production cost or 50% margin. I mean if he can get to that level would be impressive though quite sceptical of that happening as the production cost seems to keep increasing every year!! Also no mention of who's going to buy the lithium as the whole thing was lithium or tin could be for free!

Ant keeps espousing it but the market wants to see it and it has to be said mining companies are not like tech stocks, with high pe valuation. They want to see good cash flow..

I guess somewhat meaningful RNS here, perhaps andrada might consider buying the whole resource.

Somewhat meaningful RNS drop today.

Previous one appeared to annoying with 1 or 2 % op improvement which didn't really say much.

At 1% that would be what almost 90% improvement over what they have now, so would expect high output volume perhaps double the output.

The problem of course is bringing in new partners will also eat up revenue via g and a. Which this outfit seems to like doing.

but the real news awaiting is the petallite sales and take off contract signed.

Well looking back on 2022 road map. Three goals in or by 2025. 30 t tantalum, 2500 ton tin and 10k lithium.

Tantalum has been a success, but tin and lithium not so much. Perhaps the new jig plant which I wasn't expecting will finished by year end/ September the latest.

I think if peeps want to sell. Perhaps reexamine their economic model after those objectives have completed and seems if there is any profit viability or else. The company might go down just paying off debt.

The SQM news did come in but that was government approval and not much company could do.

Anyway has anyone heard anything from Indaba conference? Or ant just ant keeps repeating like trump who says everything is big and wonderful.