REG - Andrada Mining Ltd - Results of strategic Subscription & Placing

Andrada MiningAnnouncement

27/06/2025 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250627:nRSa7251Oa&default-theme=true

RNS Number : 7251O  Andrada Mining Limited  27 June 2025

27 June 2025

 

THIS ANNOUNCEMENT (INCLUDING THE APPENDICES) AND THE INFORMATION CONTAINED
HEREIN IS RESTRICTED AND IS NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN
WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN, INTO OR FROM THE UNITED STATES,
AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA OR ANY OTHER
JURISDICTION IN WHICH SUCH RELEASE, PUBLICATION OR DISTRIBUTION WOULD BE
UNLAWFUL. PLEASE SEE THE IMPORTANT NOTICES AT THE END OF THIS ANNOUNCEMENT.

THIS ANNOUNCEMENT IS FOR INFORMATION PURPOSES ONLY AND DOES NOT CONSTITUTE OR
FORM PART OF ANY OFFER OR INVITATION TO SELL OR ISSUE, OR ANY SOLICITATION OF
AN OFFER TO PURCHASE OR SUBSCRIBE FOR, ANY SECURITIES OF ANDRADA MINING
LIMITED.

THIS ANNOUNCEMENT CONTAINS INSIDE INFORMATION AS STIPULATED UNDER THE MARKET
ABUSE REGULATION (EU) NO. 596/2014 AS IT FORMS PART OF UK DOMESTIC LAW
PURSUANT TO THE EUROPEAN UNION (WITHDRAWAL) ACT 2018, AS AMENDED. UPON THE
PUBLICATION OF THIS ANNOUNCEMENT VIA A REGULATORY INFORMATION SERVICE, THIS
INFORMATION IS CONSIDERED TO BE IN THE PUBLIC DOMAIN.

Andrada Mining Limited
("Andrada" or the "Company")
Results of strategic Subscription & Placing

Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a critical minerals producer
with mining and exploration assets in Namibia, is pleased to announce that
further to its announcement of 26 June 2025 (the "Launch Announcement") it has
successfully closed the Subscription and the Placing.

The Company has raised £4.5 million (before expenses) at a price of 3.00
pence per share (the "Issue Price") through an equity subscription of 150 000
000 Ordinary Shares (the "Subscription") by Talent10 Resources Proprietary
Limited ("Talent10"), the new strategic investor. Talent10, has reached a
shareholding of 8.16% of issued share capital of the Company as enlarged by
the Subscription and the Placing (the "Enlarged Share Capital").

An additional total of 16 666 666 Placing Shares have been placed at the Issue
Price with institutional and professional investors. The Placing has raised a
total of £0.5 million (before expenses) for the Company. H&P acted as the
Sole Bookrunner in connection with the Placing.

The Subscription and Placing has raised gross proceeds of £5 million (c USD
6.9 million) through the issuance of 166 666 666 new ordinary shares (the
"New Ordinary Shares") at the Issue Price.

Use of proceeds

The net proceeds will be used to:

§ Expedite the installation and implementation of the ore sorters at Uis.

§ Accelerate the commissioning and production ramp-up of the jig plant at
Uis, with internal estimates indicating that production could double by
FY2026*.

§ For general working capital purposes.

Anthony Viljoen, Chief Executive Officer, commented:

"I am delighted to welcome Talent10 as a new strategic institutional investor
in Andrada. Talent10 has a highly respected southern African mining pedigree,
backed by a network of some of the top names in the industry. The partnership
not only supports the completion of key outstanding capital projects at Uis,
but places Andrada at the heart of an ecosystem primed to accelerate our
future growth. I am also encouraged by existing shareholders who elected to
support the Placing.

This partnership strengthens our portfolio offering and supports our strategy
to establish Andrada as a leading supplier of critical minerals. We look
forward to working closely with Talent10 as we continue to unlock value across
our portfolio of mining assets."

Wayne Fitzjohn, Talent10 Chief Executive Officer, commented:

"Our decision to become a cornerstone investor in Andrada Mining reflects our
strong belief in the Company's vision and capabilities. At Talent10, we have a
long-standing track record of investing in and partnering with successful
mining companies across Southern Africa, including Exxaro Resources. This
experience has deepened our understanding of the region's mineral potential
and its importance to the global energy transition.

Our interest in Andrada stems from a shared conviction that Southern Africa
can offer more than just raw material supply, but it can emerge as a global
centre for critical mineral innovation, processing, and value creation. We
believe Andrada's integrated strategy, from resource development to downstream
beneficiation, positions it as a future leader in this evolution.

We are excited to support Andrada at this pivotal stage of growth and look
forward to working closely with the management team to contribute to its
ambition of building a sustainable and globally competitive critical minerals
company."

Admission and Total Voting Rights

Application has been made to the London Stock Exchange for the New Ordinary
Shares to be admitted to trading on AIM ("Admission"). It is expected that
Admission will take place and dealings in the New Ordinary Shares will
commence at 8.00 a.m. on 1 July 2025

The New Ordinary Shares, when issued, will be fully paid and will rank pari
passu in all respects with the existing ordinary shares in issue, including
the right to receive all dividends and other distributions declared, made or
paid after the date of issue.

Additional Information

The Placing is conditional on, among other things, completion of the
Subscription, Admission of the Placing Shares becoming effective on 1 July
2025 or such later time and/or date as the Company and the Bookrunner agree,
not being later than 11 July 2025 and the Placing Agreement not being
terminated in accordance with its terms prior to Admission.

The Issue Price represents a premium of 8% to the 15-day volume weighted
average price of the Company's shares as at the close of the market on 25 June
2025.

Capitalised terms used but not otherwise defined in this announcement shall
have the meanings ascribed to such terms in the Launch Announcement, unless
the context requires otherwise.

 

*Based on 20 000 tpm throughput, internal estimates indicate 1 900 tonnes of
tin in concentrate sales for FY2026. Based on 10 000 tpm throughput and for
the same period, internal estimates indicate 1 536 tonnes of tin in
concentrate sales. Estimates are subject to mining schedules, feedstock grades
as well as the jig plant and ore sorters coming online.

 CONTACTS                             +27 (11) 268 6555
 Andrada Mining

Anthony Viljoen, CEO

 Sakhile Ndlovu, Investor Relations

 NOMINATED ADVISOR & BROKER
 Zeus Capital Limited                  +44 (0) 20 2382 9500

Katy Mitchell

 Harry Ansell

 Andrew de Andrade

 CORPORATE BROKER & ADVISOR
 H&P Advisory Limited                 +44 (0) 20 7907 8500

Andrew Chubb

 Jay Ashfield

 Matt Hasson

 Berenberg                            +44 (0) 20 3753 3040

Jennifer Lee

 Natasha Ninkov

 FINANCIAL PUBLIC RELATIONS
 Tavistock (United Kingdom)           +44 (0) 207 920 3150

Emily Moss

                                    andrada@tavistock.co.uk (mailto:andrada@tavistock.co.uk)
 Josephine Clerkin

About Andrada Mining Limited

Andrada Mining Limited is listed on the London Stock Exchange (AIM), New York
(OTCQB) and Namibia Stock Exchange with mining assets in Namibia, a top-tier
investment jurisdiction in Africa. Andrada strives to produce critical raw
materials from a large resource portfolio to contribute to a more sustainable
future, improved living conditions and the upliftment of communities adjacent
to its operations. Leveraging its strong foundation in Namibia, Andrada is on
a strategic path to becoming a leading African producer of critical metals
including lithium, tin, tungsten, tantalum and copper. These metals are
important enablers of the green energy transition, being essential for
components of electric vehicles, solar panels and wind turbines.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCFIFVERFIDFIE