Andrada Mining Limited (LSE:ATM) has announced promising early results from ore-sorting trials at its Brandberg West project in Namibia, demonstrating significant grade improvements across tungsten, tin, and copper using sensor-based XRT technology.
Tests conducted on nine grab samples from historical waste material showed notable upgrades in metal concentrations. Tungsten grades increased to as much as 1.45% from 0.24%, tin rose to 2.09% from 0.31%, and copper reached 2.81% from 0.73%. Recovery rates were also strong, with tungsten up to 91% and tin up to 94%, alongside an approximate 90% reduction in mass. These outcomes point to the potential for lower processing costs and the production of a higher-value polymetallic concentrate.
The company noted that these initial “sighter” tests reinforce the commercial viability of tungsten as a key component of its asset portfolio. The findings also support the strategy of reprocessing large volumes of surface waste to accelerate development timelines at Brandberg West. The work forms part of an earn-in agreement with BWCAM, which could see up to $51 million invested for a stake of up to 49% in the project. This approach suggests that both legacy waste material and in-pit hard rock resources could be transformed into a viable polymetallic operation, enhancing Andrada’s exposure to critical minerals supply chains.
Despite these operational positives, the company’s broader outlook remains constrained by weak financial performance, including ongoing losses and negative operating and free cash flow, even as revenues grow. Technical indicators add further pressure, reflecting a sustained downtrend and negative momentum in the share price. Valuation offers limited support, with a negative price-to-earnings ratio highlighting unprofitability and the absence of a dividend.
More about Andrada Mining
Andrada Mining Limited is an AIM-listed mining company focused on critical minerals, with operations and exploration assets located in Namibia. While historically a tin producer, the group is expanding its focus to include a wider range of high-demand metals such as tungsten and copper. Through projects like Brandberg West, the company aims to develop polymetallic resources that can contribute to global supply of materials essential for modern technologies and energy transition.
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