REG - Andrada Mining Ltd - Exercise of warrants and issue of equity

Andrada MiningAnnouncement

25/01/2023 16:00

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RNS Number : 8756N  Andrada Mining Limited  25 January 2023

25 January
2023

 

 

Andrada Mining Limited

 ("Andrada" or the "Company")

Exercise of warrants and issue of equity

Andrada Mining Limited (AIM: ATM), an African technology metals mining company
with a portfolio of mining and exploration assets in Namibia, announces that
it has received notice from a warrant holder to exercise warrants over 20 000
000 (twenty million) ordinary shares in the Company at a price of 1.95 pence
per ordinary share (the "Warrant Shares"). Application has been made for the
admission of the Warrant Shares to trading on AIM, and the Company expects
that the admission will become effective and dealings in the Warrant Shares
will commence at 8.00 a.m. on 31 January 2023 ("Admission").

In accordance with the provisions of the Disclosure Guidance and Transparency
Rules (DTR) of the Financial Conduct Authority, the Company confirms that upon
Admission its issued share capital will comprise 1 537 863 344 Ordinary
Shares of no-par value. All of the Company's Ordinary Shares have equal voting
rights and none of the Ordinary Shares are held in treasury. The total number
of voting rights in the Company will therefore be 1 537 863 344 following
Admission. This total voting rights figure may be used by shareholders as the
denominator for calculations to determine whether they are required to notify
their interests in, or a change to their interest in Andrada under the DTRs.

 

For further information please visit the Company's website:
www.afritinmining.com (http://www.afritinmining.com) or contact:

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

 Sakhile Ndlovu, Head of Investor Relations                                                                                            +44 (0) 207 220 1666

 WH Ireland Limited (Nominated Advisor)       +44 (0) 207 220 1666                                              +44 (0) 207 220 1666

 Katy Mitchell                                                                                                              +44 (0) 20 7907 8500
                                                                                                                +44 (0) 20 7907 8500
 H&P Advisory Limited                         +44 (0) 20 7907 8500

                                                                                                                          +44 (0) 20 7710 7600
 (Corporate Advisor and Joint Broker)
 Andrew Chubb

                                                                                                              +44 (0) 20 7710 7600   + 44 20 7920 3150
 Jay Ashfield                                                                                                               afritin@tavistock.co.uk (mailto:afritin@tavistock.co.uk)

 Stifel Nicolaus Europe (Joint Broker)        +44 (0) 20 7710 7600
 
 Ashton Clanfield
+44 20 7920 3150

 Callum Stewart

 Varun Talwar

 Tavistock (PR)                               + 44 20 7920 3150
 Emily Moss                                   afritin@tavistock.co.uk (mailto:afritin@tavistock.co.uk)

 Cath Drummond

 Adam Baynes

 

 

 +27 (11) 268 6555      +27 (11) 268 6555

                        +44 (0) 207 220 1666

 +44 (0) 207 220 1666

                        +44 (0) 20 7907 8500
 +44 (0) 20 7907 8500

                        +44 (0) 20 7710 7600

 +44 (0) 20 7710 7600   + 44 20 7920 3150
                        afritin@tavistock.co.uk (mailto:afritin@tavistock.co.uk)

 

 + 44 20 7920 3150

About Andrada Mining Limited

Notes to Editors

Andrada Mining Limited, formerly Afritin 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
allows the Company to consider economies of scale.

 

Andrada is managed by a board of directors with extensive industry knowledge
and management team with deep 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 how 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.

 

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