20th Mar 2023 11:58
Andrada Mining Ltd - African technology metals mining company with a portfolio of mining and exploration assets in Namibia - Expects to complete the lithium bulk-testing pilot facility in June. Reports a record quarterly production of 361 tonnes of tin concentrate in the fourth quarter of financial 2023 ended on February 28. Says full-year tin concentrate amounts to 960 tonnes, up from 804 tonnes a year earlier. Its annual all-in sustaining costs fall by 9.4% to USD24,939 per tonne of contained tin. Annual achieved tin price amounts to USD25,051 per tonne, down 35% year-on-year.
Looking ahead, Andrada expects tin concentrate production guidance of between 1,400 tonnes and 1,500 tonnes for financial 2024, up between 45% to 56% year-on-year as a result of the plant expansion ramp-up. Expects AISC between USD25,000 and USD30,000. Explores several options for achieving early lithium revenue in the second half of the 2023 calendar year including concentrate production from the bulk pilot plant.
Current stock price: 3.89 pence each, down 1.3% on Monday around midday in London
12-month change: down 43%
By Xindi Wei, Alliance News reporter
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