Andrada Mining Limited (LSE:ATM) said it has met the final two conditions required to unlock an initial US$10 million investment from BWCAM for the Brandberg West project. The funding gives the ACAM affiliate a 30% interest in the project vehicle and allows work to accelerate on tailings investigations, although approval from the Namibian Competition Commission is still pending.
In addition to the project-level investment, BWCAM has subscribed a further US$1 million for 24.3 million new Andrada shares at a price of 3p each. Admission of the new shares to AIM is expected on 9 February, strengthening Andrada’s balance sheet and reinforcing the strategic partnership as the company continues to expand its exploration and production activities across Namibia.
Despite solid revenue growth, Andrada’s overall outlook remains constrained by financial pressures, including ongoing losses, negative return on equity, and negative operating and free cash flow. From a market perspective, the share price trend remains supportive, with a clear upward trajectory, although elevated momentum indicators suggest an increased risk of short-term pullbacks. Valuation remains limited by a negative price-to-earnings ratio and the absence of dividend yield guidance.
More about Andrada Mining Limited
Andrada Mining Limited is an AIM-listed mining company focused on Namibia, producing tin while expanding into lithium, tantalum, tungsten and copper. Through strategic partnerships, the group aims to supply critical minerals that support the global energy transition.
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