Andrada Mining (LSE:ATM) has announced standout surface sampling results from its Lithium Ridge project in Namibia, confirming the presence of multiple high-grade lithium-bearing pegmatites. Grab samples returned lithium oxide grades in excess of 4% Li₂O, with a highest recorded value of 4.67% Li₂O.
Operational and financial highlights
An extensive mapping and sampling programme has now identified more than 1,500 pegmatite outcrops, materially extending the recognised mineralised corridor to around 6 kilometres. In addition to lithium, the work has confirmed economically meaningful tin and tantalum mineralisation, raising the prospect of attractive by-product credits. Mineralogical analysis shows lithium is predominantly hosted in spodumene.
The surface results support the ongoing, SQM-funded Stage 1 drilling campaign, which comprises 14,000 metres designed to test the depth extent and continuity of the system. Collectively, the findings point to Lithium Ridge as a potentially large-scale, polymetallic project that could significantly bolster Andrada’s development pipeline and reinforce its positioning within the global critical minerals supply chain, alongside continued expansion at the Uis Mine.
From a financial perspective, the investment case remains constrained by ongoing losses, negative returns on equity, and negative operating and free cash flow, despite healthy top-line growth. Share price trends remain constructive, with a clear uptrend in place, although elevated momentum indicators suggest an increased risk of near-term pullbacks. Valuation support is limited by a negative price-to-earnings ratio and the absence of dividend yield data.
More about Andrada Mining
Andrada Mining Limited is a Namibia-focused producer and developer of tin, with a broader portfolio of critical minerals assets that includes lithium and tantalum projects. The company is listed on AIM and the OTCQB and is pursuing a strategy of expanding beyond its flagship Uis Mine to establish a diversified regional platform in battery and technology metals, targeting long-term growth driven by rising global demand for lithium and associated critical minerals.
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