Andrada Mining Ltd - African technology metals mining company with a portfolio of mining and exploration assets in Namibia - Expects to complete the lithium bulk-testing pilot facility in June. Reports a record quarterly production of 361 tonnes of tin concentrate in the fourth quarter of financial 2023 ended on February 28. Says full-year tin concentrate amounts to 960 tonnes, up from 804 tonnes a year earlier. Its annual all-in sustaining costs fall by 9.4% to $24,939 per tonne of contained tin. Annual achieved tin price amounts to $25,051 per tonne, down 35% year-on-year.
Looking ahead, Andrada expects tin concentrate production guidance of between 1,400 tonnes and 1,500 tonnes for financial 2024, up between 45% to 56% year-on-year as a result of the plant expansion ramp-up. Expects AISC between $25,000 and $30,000. Explores several options for achieving early lithium revenue in the second half of the 2023 calendar year including concentrate production from the bulk pilot plant.
Current stock price: 3.89 pence each, down 1.3% on Monday around midday in London
12-month change: down 43%
Copyright 2023 Alliance News Ltd. All Rights Reserved.