REG - Andrada Mining Ltd - Appointment of Directors

Andrada MiningAnnouncement

10/05/2023 07:00

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RNS Number : 9186Y  Andrada Mining Limited  10 May 2023

10 May 2023

The information contained within this announcement is deemed by the Company to
constitute inside information as stipulated under the Market Abuse Regulations
(EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the
European Union (Withdrawal) Act 2018. Upon publication of this announcement
via Regulatory Information Services (RIS), this inside information is now
considered to be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Appointment of Directors

Andrada Mining Limited (AIM: ATM), an African technology metals mining company
with a portfolio of mining and exploration assets in Namibia, is pleased to
announce the appointment to the board of Hiten Mohanlal Ooka, the Chief
Financial Officer ("CFO"), as Executive Director and Gida Nakazibwe Sekandi as
Non-Executive Director, with immediate effect.

Glen Parsons, Andrada Mining board Chairman remarked, "On behalf of my fellow
directors, I would like to welcome both Ms Gida Sekandi and Mr Hiten Ooka to
the board. Andrada is rapidly growing into a major tech-metals producer.
Therefore, Gida's extensive regional knowledge as well as experience in
sustainability and ESG requirements in mining and financial services
industries and Hiten's broad experience in strategic funding structures,
mergers & acquisitions and governance will contribute to Andrada
implementing appropriate and leading practices as it grows and reaches its
stated objectives."

Hiten (42) joined Andrada as CFO in July 2022 following a three-year tenure as
the Group Head of Finance at the AIM-listed Bushveld Minerals, during which
time he positively transformed the finance and governance functions. In the
past 15 years, he has held senior financial management roles at multinational
mining and trading groups, including as Head of Finance at Eurasian Resources
Group (Africa) and Group Financial Manager at Trafigura (Mining Division).
Hiten is a Chartered Accountant registered with the South African Institute of
Chartered Accountants.

Gida (70) is a qualified lawyer and accomplished businessperson with extensive
executive and operational experience spanning 28 years in well-known entities
in the mining, financial services, and private equity sectors, both within
Namibia and internationally. She honed her mining experience over 13 years at
the former Rio Tinto operation, Rossing Uranium Mine located in Swakopmund,
Namibia where she managed the communications strategy ultimately rising to the
position of Head of Corporate Affairs and Communications. Importantly, Gida
has over 15 years board experience in listed entities and is currently an
independent, non-executive director and chairperson of the Sustainability and
Ethics Committee of the Capricorn Limited Group board. She also serves on
several other boards including Alpha Namibia Industries Renewable Energy Power
Limited ("ANIREP"), the first energy company listed on the Namibian Stock
Exchange. ANIREP is largely expected to play a leading role in the production
of solar energy in Namibia, as a substitute for the electricity imported from
South Africa.

She volunteers at several non-profit organisation boards including Woman@Work
and is a life member of the Namibian Institute for Corporate Governance. Gida
will serve on Andrada's ESG board committee whose mandate is to ensure that
best practices are embedded in the Company's operations. To date, the
committee has been instrumental in the development of the ESG strategy,
compliance systems and policies.

Both Hiten Ooka and Gida Sekandi are to receive share options as part of their
remuneration package as directors of the Company. A further announcement will
be made in due course when the details of these awards are confirmed.

 

The following information is disclosed pursuant to paragraph (g) Schedule two
of the AIM Rules for Companies.

Hiten Mohanlal Ooka's directorships and partnerships in the last five years
are as follows:

Current directorships

UIS TIN MINING COMPANY (PTY) LTD

ANDRADA MINING NAMIBIA (PTY) LTD (previously AfriTin Mining Nambia
(Proprietary) Limited)

Past directorships

AFRICA TECHNICAL SERVICES LIMITED

ERG TREASURY - AFRICA LIMITED

SABOT HOLDING SA (PTY) LTD

SABOT PROPERTIES SA (PTY) LTD

SABOT SA (PTY) LTD

Gida Nakazibwe Sekandi's directorships and partnerships in the last five years
are as follows:

Current directorships

Listed entities.

CAPRICORN GROUP LTD

CAPRICORN INVESTMENT HOLDINGS LTD

BANK WINDHOEK LIMITED

ALPHA NAMIBIA INDUSTRIES RENEWABLE POWER LIMITED (PROPRIETARY) LIMITED

Non-listed entities

WELWITSCHIA INSURANCE BROKERS (PTY) LTD

ENTREPO FINANCE (PTY) LIMITED

ENTREPO LIFE LIMITED

LEWICOR HOLDINGS (PROPRIETARY) LIMITED

NAM-MIC SOLUTIONS (PROPRIETARY) LIMITED (Ms Sekandi is in the process of
resigning from this company)

Interests in community initiatives and  women empowerment entities
BFS AFRICA FUND MANAGEMENT 1 (This company is in the process of
deregistration)

PAUA PROPERTY LIMITED

TUNGENI AFRICA PROPERTY DEVELOPERS (PROPRIETARY) LIMITED

THE MEN ON THE SIDE OF THE ROAD PROJECT

CAPRICORN FOUNDATION

EDUARDO DOS SANTOS FOUNDATION

NAMDEF BUSINESS CONSULTANCY SERVICES

GROOTFONTEIN FOOD AND BEVERAGE (PROPRIETARY) LIMITED

SWAKOPMUND TOURISM MARKETING FONDATION (NFG)

MERIDA INVESTMENTS CC

NAMIBIA ART CRAFT AND DESIGN (Ms Sekandi is in the process of resigning from
this company)

 

 

Sole directorships

BERTINA VILLAGE SELF CATERING UNIT TEN CC

BERTINA ARCHBISHOP SELF CATERING UNIT SIX CC

BARTINA TOURS AND CONCIERGE SERVICES CC

BERTINA PROPERTIES CC

DOMINO DELTA GROUP CC

ISTOBLOX (PTY) LIMITED

PLP AFRICA PTY LIMITED

VILLA INVESTMENT CC

Past directorships

NAM-MIC FINANACIAL SERVICES HOLDINGS (PROPRIETARY) LIMITED

ARCHBISHOP'S CLOSE UNIT SIX PROPERTY CC

ALLEGROW FUND (PROPRIETARY) LIMITED

HANGALA GROUP (PROPRIETARY) LIMITED

There is no further information to be disclosed pursuant to paragraph (g) of
Schedule 2 of the AIM Rules.

 

 Andrada Mining Limited                       +27 (11) 268 6555
 Anthony Viljoen, CEO

 Sakhile Ndlovu, Head of Investor Relations
 Nominated Adviser                            +44 (0) 207 220 1666
 WH Ireland Limited

 Katy Mitchell
 Corporate Advisor and Joint Broker
 H&P Advisory Limited                         +44 (0) 20 7907 8500

 Andrew Chubb

 Jay Ashfield

 Nilesh Patel
 Stifel Nicolaus Europe Limited               +44 (0) 20 7710 7600
 Ashton Clanfield

 Callum Stewart

 Varun Talwar
 Tavistock Financial PR (United Kingdom)      +44 (0) 207 920 3150
 Emily Moss

 Catherine Drummond

 Adam Baynes

__________________________________________________________________________________________

 

 

 

 

 

 

About Andrada Mining Limited

Notes to editors.

Andrada Mining Limited is a London-listed technology metals mining company
with a vision to create a portfolio of globally significant, conflict-free,
production and exploration assets. The Company's flagship asset is the Uis
Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.
Lithium laboratory test work completed during the 2022 calendar year indicated
a high-grade, ultra-low iron lithium petalite concentrate. The test work to
convert lithium petalite concentrate to battery-grade lithium hydroxide was
initiated with Nagrom, a leading Australian processing company, and commercial
engagements with lithium petalite concentrate off - takers are on-going.

 

An exploration drilling programme is currently underway with the aim of
expanding the tin resource over the fourteen additional, historically mined
pegmatites, all of which occur within a 5 km radius of the current processing
plant. The Company has set a mineral resource target of 200 Mt to be
delineated within the next 5 years. The substantial mineral resource potential
of the license portfolio allows the Company to consider economies of scale.

 

Andrada is managed by a board of directors with extensive industry knowledge
and management team with extensive commercial and technical skills.
Furthermore, the Company is committed to the sustainable development of its
operations and the growth of its business. This is demonstrated by the way the
leadership team places significant emphasis on creating value for the wider
community, investors, and other key stakeholders. Andrada has established an
environmental, social and governance system which has been implemented at all
levels of the Company and aligns with international standards.

-END-

 

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