Andrada Mining (“ATM”) has released interim financial results to 31st Aug, revealing weaker than expected EBITDA of -£0.6m vs H&Pe +£1.8m, but a lower than forecast free cash outflow of -£8.3m vs H&Pe -£9.4m. Post period end, ATM secured a total US$30m in new funding from Orion Resource Partners and Development Bank of Namibia, giving a solid (unaudited) cash balance of £23m as of 27th Nov. We expect profitability to improve in H2 as strip ratios are expected to fall. Earlier this week, ATM anno ....
29 Nov 2023
Andrada Mining: Interim results & lithium pilot plant update - ramping up to 250tpm; customer testing underway
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Andrada Mining: Interim results & lithium pilot plant update - ramping up to 250tpm; customer testing underway
Andrada Mining Limited (ATM:LON) | 3.6 0 1.4% | Mkt Cap: 59.5m
- Published:
29 Nov 2023 -
Author:
Roger Bell -
Pages:
3
Andrada Mining (“ATM”) has released interim financial results to 31st Aug, revealing weaker than expected EBITDA of -£0.6m vs H&Pe +£1.8m, but a lower than forecast free cash outflow of -£8.3m vs H&Pe -£9.4m. Post period end, ATM secured a total US$30m in new funding from Orion Resource Partners and Development Bank of Namibia, giving a solid (unaudited) cash balance of £23m as of 27th Nov. We expect profitability to improve in H2 as strip ratios are expected to fall. Earlier this week, ATM anno ....