Breakeven Date Change • May 20
Forecast to breakeven in 2028 The analyst covering Andromeda Metals expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$13.0m in 2028. Average annual earnings growth of 111% is required to achieve expected profit on schedule. Board Change • May 20
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Mick Wilkes was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 01
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Mick Wilkes was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jan 05
New major risk - Revenue and earnings growth Earnings have declined by 6.6% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 6.6% per year over the past 5 years. Shareholders have been substantially diluted in the past year (35% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$64.7m market cap, or US$43.3m). Breakeven Date Change • Dec 24
Forecast to breakeven in 2027 The analyst covering Andromeda Metals expects the company to break even for the first time. New forecast suggests the company will make a profit of AU$34.0m in 2027. Average annual earnings growth of 123% is required to achieve expected profit on schedule. Board Change • Dec 24
Less than half of directors are independent Following the recent departure of a director, there is only 1 independent director on the board. The company's board is composed of: 1 independent director. 3 non-independent directors. Independent Non-Executive Director Mick Wilkes was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Ankündigung • Sep 22
Andromeda Metals Limited, Annual General Meeting, Nov 20, 2025 Andromeda Metals Limited, Annual General Meeting, Nov 20, 2025. Board Change • Aug 18
Less than half of directors are independent There are 4 new directors who have joined the board in the last 3 years. Of these new board members, none were independent directors. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. 1 independent director (4 non-independent directors). Independent Non-Executive Director Mick Wilkes is the most experienced director on the board, commencing their role in 2022. They were also the last independent director to join the board. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of experienced directors. Ankündigung • May 12
Andromeda Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million. Andromeda Metals Limited has completed a Follow-on Equity Offering in the amount of AUD 5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 384,615,385
Price\Range: AUD 0.013
Discount Per Security: AUD 0.00078
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Board Change • Feb 04
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Director Mick Wilkes is the most experienced director on the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Ankündigung • Dec 26
Andromeda Metals Limited Announces Board Changes Andromeda Metals Limited announced the appointment of Jean-Dominique (JD) Sorel as a Non-Executive Director of the Company. Mr. Sorel is a senior executive in the mining and minerals sector with over 45 years of experience across company leadership, operations, commerce and marketing and has extensive experience in global metals and industrial minerals markets. Mr. Sorel was previously Chief Operating Officer) at Traxys Sarl (Traxys), an organisation that he led, developed and helped grow over a period of 16 years. Among other achievements, he developed substantial base metals and industrial mineral activities for Traxys. Andromeda recently signed a Binding Offtake Agreement with Traxys for purchases of Great White CRM and Great White HRM of up to 50% of total production from the Great White Project (GWP)1. Before joining Traxys, Mr. Sorel also held the following executive positions: President of Metaleurop S.A., heading the Company and managing its commercial activities (purchase of lead and zinc concentrates and sales of zinc, lead and silver dore) Usinor Group (now ArcelorMittal), where he ran the ferro-alloys and non-ferrous metals purchasing desk Finance Director at Amax, Europe SA. (which included monitoring the nickel ore properties in New Caledonia and the sale of Mt Newman iron ore in Europe and the Middle East). Mr. Sorel is currently a director of Traxys Europe S.A. and was previously a director of Traxys UK Ltd. and the Societe Luxembourgeoise de Commerce International S.A. Additionally, Mr. Sorel was the Traxys Legal representative for the Group companies in China and Hong Kong. Mr. Sorel graduated from Columbia University (NY) with a Bachelor of Sciences and an MBA. He lives in Luxembourg. As a result of this appointment, Mr. Austen Perrin has elected to step down from the Board at the end of January 2025, to ensure an orderly transition and to keep the size of the Board appropriate to the size and position of the Company. Board Change • Dec 24
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 2 were independent directors. The company's board is composed of: 5 new directors. No experienced directors. No highly experienced directors. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mick Wilkes is the most experienced director on the board, commencing their role in 2022. Independent Non-Executive Director Austen Perrin was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Ankündigung • Nov 21
Andromeda Metals Limited Announces Election of Michael Ferdinand as A Director Andromeda Metals Limited announced election of Mr. Michael Ferdinand as a Director, at the AGM held on November 21, 2024. New Risk • Sep 30
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (18% average weekly change). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Currently unprofitable and not forecast to become profitable over next 2 years (AU$2.0m net loss in 2 years). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Significant insider selling over the past 3 months (AU$523k sold). Market cap is less than US$100m (AU$27.1m market cap, or US$18.8m). Ankündigung • Sep 24
Andromeda Metals Limited, Annual General Meeting, Nov 21, 2024 Andromeda Metals Limited, Annual General Meeting, Nov 21, 2024. Board Change • Sep 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chair Mick Wilkes is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. New Risk • Aug 27
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 9.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (19% average weekly change). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable over next 2 years (AU$2.0m net loss in 2 years). Shareholders have been diluted in the past year (9.1% increase in shares outstanding). Market cap is less than US$100m (AU$30.5m market cap, or US$20.7m). New Risk • Jul 23
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 17% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$16m free cash flow). Share price has been highly volatile over the past 3 months (17% average weekly change). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$71.5m market cap, or US$47.4m). New Risk • Jun 04
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 15% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$16m free cash flow). Earnings have declined by 36% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (15% average weekly change). Market cap is less than US$100m (AU$71.5m market cap, or US$47.4m). New Risk • Apr 25
New major risk - Revenue and earnings growth Earnings have declined by 36% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$16m free cash flow). Earnings have declined by 36% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$59.1m market cap, or US$38.4m). Board Change • Mar 01
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. No experienced directors. No highly experienced directors. Independent Non-Executive Chair Mick Wilkes is the most experienced director on the board, commencing their role in 2022. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Feb 21
Andromeda Metals Limited Announces the Appointment of Sue-Ann Higgins as an Independent Non-Executive Director Andromeda Metals Limited announced the appointment of Sue-Ann Higgins as an Independent Non-Executive Director. Ms Higgins is an experienced legal practitioner and company director, with diversified skills and global corporate experience, gained over 30 years of experience in executive and non-executive roles in the resources sector. During that time, Ms Higgins has held senior legal and commercial roles with various listed entities, including ARCO Coal Australia Inc, WMC Resources Ltd, Oxiana Limited and Citadel Resources Limited, and is an experienced company secretary and director. Ms Higgins is a member of the Australian Institute of Company Directors (AICD), Energy & Resources Law (formerly AMPLA) and the Governance Institute of Australia. Ms Higgins holds a Bachelor of Arts and a Bachelor of Law (Hons) from the University of Queensland, Graduate Diplomas in Company Secretarial Practice (Chartered Secretaries Australia) and Applied Finance and Investment (Securities Institute of Australia), has completed the Australian Graduate School of Management's Executive Program on Risk Management and AICD's International Company Directors Course. Ankündigung • Feb 02
Andromeda Metals Limited Announces Step Down of Melissa Holzberger as Independent Non-Executive Director Andromeda Metals Limited announced that Melissa Holzberger, independent non-executive director, will step down from the board of the company with effect from 2 February 2024, reflecting a change in her board commitments. Ankündigung • Nov 08
Andromeda Metals Limited Announces Executive Changes Andromeda Metals Limited announced that it has undertaken a review of its organisational structure following the strategic review of Andromeda's corporate positioning and business strategy. Following the outcomes of the organisational review, the decision has been made to consolidate roles to simplify the Company's structure and create a more sustainable business foundation prior to an anticipated final investment decision (FID) being made. As a result, James Marsh (Sales and Marketing) and Tim Anderson, (Chief Commercial Officer) will depart the Company on 17 November 2023. The functions will be led by CEO and Managing Director, Bob Katsiouleris, until an appropriate candidate who can perform both functions is found, which is expected to be in early 2024. New Risk • Sep 30
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$18m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$18m free cash flow). Earnings have declined by 42% per year over the past 5 years. Minor Risks Revenue is less than US$5m (AU$2.0m revenue, or US$1.3m). Market cap is less than US$100m (AU$65.3m market cap, or US$42.0m). Ankündigung • Sep 26
Andromeda Metals Limited, Annual General Meeting, Nov 22, 2023 Andromeda Metals Limited, Annual General Meeting, Nov 22, 2023. Ankündigung • Sep 16
Trigg Minerals Limited (ASX:TMG) entered into a binding agreement to purchase Rush Resources Limited. Trigg Minerals Limited (ASX:TMG) entered into a binding agreement to purchase Rush Resources Limited on September 15, 2023. Trigg Minerals will issue 56.7 million shares in two tranches comprising 38.3 million shares on completion and 18.3 million shares subject to an operational milestone of 2,000 metres of drilling and a minimum intersection of 20 metres at 1g/t Au being achieved within two years at the Drummond Project for the Rush acquisition and also the Project Acquisition Agreement. Corporate director Tim Morrison will be appointed as Chairman on deal completion. Completion is subject to approval by shareholders of Rush Resources and Trigg, capital raising by Trigg, acquisition of the Drummond Project, cancellation of all outstanding options in Rush and regulatory approvals. The transaction is expected to complete on October 26, 2023. Recent Insider Transactions • May 26
MD, CEO & Director recently bought AU$445k worth of stock On the 24th of May, Robert Katsiouleris bought around 12m shares on-market at roughly AU$0.037 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. This was Robert's only on-market trade for the last 12 months. Board Change • May 17
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. Executive Director of Sales & Marketing and Director James Marsh is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Ankündigung • Feb 08
Andromeda Metals Limited Announces Resignation of Michael Zannes as Chief Financial Officer, Effective 3 March 2023 Andromeda Metals Limited announced that its Chief Financial Officer (CFO), Mr. Michael Zannes, has resigned and will be leaving to pursue another opportunity, effective 3 March 2023. Mr. Zannes has been with the Company since June 2020 and has been a key member of Andromeda's Executive Committee and in leading the Finance team during this time. An executive search process is underway. To ensure a seamless transition, Non-executive Director, Austen Perrin will have oversight of the Company's finance function until a new CFO is appointed. Ankündigung • Jan 17
Andromeda Metals Limited Announces General Counsel and Company Secretary Changes Andromeda Metals Limited announced the appointment of Sarah Clarke as General Counsel & Company Secretary, further strengthening executive management as it continues progressing with its flagship Great White Project. Ms. Clarke brings over 17 years of experience as a lawyer working with ASX- listed energy and resources companies, with extensive knowledge of the industry and regulatory environment. She was most recently a Partner at Piper Alderman. Ms. Clarke was an elected Councillor of the South Australian Chamber of Mines and Energy (SACOME) from 2018 to 2022, is well-connected in the industry and deeply understands the issues facing South Australian mining companies. She was previously named a "Leading" South Australian energy and resources lawyer in Doyle's guide. She was recommended for Natural resources (transactions & regulatory) in the Legal 500 Asia Pacific: Australia and recognised for Corporate Law by Best Lawyers Australia. Ms. Clarke has been appointed as Company Secretary, effective 16 January 2023. To ensure an orderly role transition, the current Company Secretary, Ms. Andrea Betti, will remain as joint company secretary until 31 January 2023. Recent Insider Transactions • Jan 17
Independent Non-Executive Chair recently bought AU$53k worth of stock On the 11th of January, Michael Wilkes bought around 1m shares on-market at roughly AU$0.05 per share. This transaction amounted to 43% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Michael has been a buyer over the last 12 months, purchasing a net total of AU$315k worth in shares. Ankündigung • Jan 09
Andromeda Metals Limited Announces Executive Changes Andromeda Metals Limited announced the strengthening of executive management team as it continues progressing its flagship Great White Project (GWP). James Marsh, currently ManagingDirector, will transition to Executive Director, Sales and Marketing, and Robert (Bob) Katsiouleris has been appointed as Managing Director and Chief Executive Officer (CEO), with both changes anticipated to occur in April this year. These changes both strengthen and broaden leadership capability, enabling increased focus on marketing of Great White products internationally, and support delivery of Andromeda's business plans over the medium to long term. With global travel restrictions now largely lifted, the Board together with Mr. Marsh have determined that now is the appropriate time to implement these management changes to increase Andromeda's marketing activities in global markets, enhance focus on securing further offtake agreements and accelerate future expansion plans. The Board also identified an opportunity to appoint a Managing Director and CEO with extensive international experience in industrial minerals and strong commercial skills. The Board's global search focused on securing a high-calibre and suitably experienced executive across international mineral markets. Accordingly, the Board is pleased to have secured Robert (Bob) Katsiouleris as Managing Director and CEO. He is a Greek Canadian citizen who has extensive experience as an executive leading numerous global mineral businesses, has a Bachelor of Engineering from McGill University and an MBAfrom Pepperdine University. Early in his career Mr. Katsiouleris worked in construction and operational leadership roles in the industrial minerals sector at World Minerals (now Imerys), a leading international industrial minerals company. During this time, he was involved in all aspects of building processing plants in China and Chile, then moving onto ultimately managing all of the company's North American operations. He then pivoted to a commercial, sales and marketing focus, spending almost 10 years as an executive with Rio Tinto including 5 years in the industrial minerals division, before moving to Europe in senior commercial executive roles with Nyrstar, Vale and Rusal. Mr. Katsiouleris has over 25 years of operational and commercial experience in industrial minerals and base metals, with an emphasis on improving profitability from mine to market. He has a particular focus on adding value through developing and implementing an industrial marketing model thatcreates uplift in a business by understanding the balance between mine to market, and market to mine. Bob Katsiouleris: 2021 - 2023 Director Market Development and Risk Management, UC Rusal; 2019 - 2020 Director Sales and Marketing, Base Metals, Vale; 2016 - 2019 Director Global Export Sales, UC Rusal; 2015 - 2019 Director, European Sales, UC Rusal; 2013 - 2015 Senior Vice President Marketing, Sourcing, Sales and Trading, Nyrstar; 2013 - 2013 Group General Manager Commercial, Nyrstar; 2007 - 2012 Chief Commercial Officer, Rio Tinto Minerals; 2003 - 2007 Senior Vice President Sales and Marketing, Rio Tinto Iron and Titanium Inc.; 1996 - 2003 General Manager Operations, World Minerals Inc. (now Imerys). Board Change • Nov 17
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. MD & Director James Marsh is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Board Change • Aug 27
High number of new and inexperienced directors There are 4 new directors who have joined the board in the last 3 years. The company's board is composed of: 4 new directors. 1 experienced director. No highly experienced directors. MD & Director James Marsh is the most experienced director on the board, commencing their role in 2018. The company’s lack of experienced directors is considered a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Jul 02
Key Executive recently sold AU$51k worth of stock On the 30th of June, Joseph Ranford sold around 725k shares on-market at roughly AU$0.07 per share. This was the largest sale by an insider in the last 3 months. Joseph has been a seller over the last 12 months, reducing personal holdings by AU$41k. Recent Insider Transactions • Jun 06
Independent Non-Executive Chair recently bought AU$75k worth of stock On the 2nd of June, Michael Wilkes bought around 773k shares on-market at roughly AU$0.097 per share. In the last 3 months, they made an even bigger purchase worth AU$187k. Michael has been a buyer over the last 12 months, purchasing a net total of AU$262k worth in shares. Recent Insider Transactions • Apr 09
Insider recently bought AU$187k worth of stock On the 7th of April, Michael Wilkes bought around 2m shares on-market at roughly AU$0.11 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought AU$67k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Nov 24
MD & Director recently sold AU$120k worth of stock On the 22nd of November, James Marsh sold around 730k shares on-market at roughly AU$0.16 per share. This was the largest sale by an insider in the last 3 months. This was James' only on-market trade for the last 12 months. Executive Departure • Aug 25
Executive Director & Company Secretary Nicholas Harding has left the company On the 12th of August, Nicholas Harding's tenure as Executive Director & Company Secretary ended after 6.5 years in the role. As of June 2021, Nicholas still personally held 6.60m shares (AU$337k worth at the time). Nicholas is the only executive to leave the company over the last 12 months. The current median tenure of the management team is 1.50 years, which is considered inexperienced in the Simply Wall St Risk Model. Is New 90 Day High Low • Mar 02
New 90-day high: AU$0.33 The company is up 23% from its price of AU$0.27 on 02 December 2020. The Australian market is up 4.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is up 18% over the same period. Is New 90 Day High Low • Nov 14
New 90-day high: AU$0.23 The company is up 370% from its price of AU$0.05 on 14 August 2020. The Australian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Metals and Mining industry, which is down 6.0% over the same period. Recent Insider Transactions • Oct 13
Insider recently bought AU$251k worth of stock On the 7th of October, Robert Connolly bought around 2m shares on-market at roughly AU$0.14 per share. This was the largest purchase by an insider in the last 3 months. Despite this recent purchase, insiders have collectively sold AU$2.3m more in shares than they bought in the last 12 months. Reported Earnings • Oct 02
Full year earnings released - AU$0.0024 loss per share Over the last 12 months the company has reported total losses of AU$3.45m, with losses widening by 208% from the prior year. 
