Andrada Mining (ATM) stands out as the only tin miner listed in the UK, benefitting from near-term leverage to a 20% spike in tin prices over the last month, hitting US$50,000/t. Ongoing supply issues in Myanmar and Indonesia have collided with a flurry of AI hyper-scaler datacentre spending commitments, which look set to drive demand for tin used in semiconductors and electrical solder in general. For each 10% change in tin prices, we estimate a 31% delta in ATM’s CY26E EBITDA and 49% in EPS. D ....
