Andromeda Metals（ADN）株式概要アンドロメダ・メタルズ社は、オーストラリアで鉱物探査会社として活動している。 詳細ADN ファンダメンタル分析スノーフレーク・スコア評価2/6将来の成長0/6過去の実績0/6財務の健全性5/6配当金0/6リスク分析過去1年間で株主の希薄化は大幅に進んだ 過去5年間で収益は年間51.3%減少しました。 キャッシュランウェイが1年未満である 収益が 100 万ドル未満 ( A$0 )+2 さらなるリスクすべてのリスクチェックを見るADN Community Fair Values Create NarrativeSee what 12 others think this stock is worth. Follow their fair value or set your own to get alerts.Your Fair ValueAU$Current PriceAU$0.009該当なし内在価値ディスカウントEst. Revenue$PastFuture-105m47k2016201920222025202620282031Revenue AU$1.0Earnings AU$0.1AdvancedSet Fair ValueView all narrativesFeatured narrative•Materials opportunityUpside Gold3 months ago author updated this narrativeSTFair Value from stuart_robertsCA$5.0768.0% 割安 内在価値ディスカウントAn Undervalued 3.3Moz Gold Project in CanadaKey takeaways Upside Gold is developing the Kena Gold Project, near the town of Nelson in the Kootenays region of southern British Columbia. Kena hosts a historical gold resource of 3.33 million ounces (561,000 ounces Indicated and 2.77 million ounces Inferred) across a 10,200-hectare land package.Read full narrative15.3kusers have viewed this narrative42users have liked this narrative1users have commented on this narrative288users have followed this narrativeRead narrativeAndromeda Metals Limited 競合他社WA GoldSymbol: ASX:WAUMarket cap: AU$41.6mMont Royal ResourcesSymbol: ASX:MRZMarket cap: AU$41.4mKing River ResourcesSymbol: ASX:KRRMarket cap: AU$41.0mPower MineralsSymbol: ASX:PNNMarket cap: AU$42.4m価格と性能株価の高値、安値、推移の概要Andromeda Metals過去の株価現在の株価AU$0.00952週高値AU$0.02552週安値AU$0.008ベータ2.071ヶ月の変化0%3ヶ月変化-35.71%1年変化-47.06%3年間の変化-72.73%5年間の変化-95.14%IPOからの変化-95.88%最新ニュース分析記事 • Mar 27Here's Why We're Watching Andromeda Metals' (ASX:ADN) Cash Burn SituationWe can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...New Risk • Jan 05New major risk - Revenue and earnings growthEarnings 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 Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (AU$64.7m market cap, or US$43.3m).New Risk • Nov 06New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major 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 (25% average weekly change). Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$63.8m market cap, or US$41.5m).お知らせ • Oct 17+ 1 more updateAndromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million.Andromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 142,857,143 Price\Range: AUD 0.0175 Discount Per Security: AUD 0.00035 Security Features: Attached OptionsNew Risk • Oct 01New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$9.0m 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$9.0m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m (AU$760k revenue, or US$502k). Minor Risk Market cap is less than US$100m (AU$64.9m market cap, or US$42.8m).New Risk • Sep 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 (24% average weekly change). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$76.3m market cap, or US$50.2m).最新情報をもっと見るRecent updates分析記事 • Mar 27Here's Why We're Watching Andromeda Metals' (ASX:ADN) Cash Burn SituationWe can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...New Risk • Jan 05New major risk - Revenue and earnings growthEarnings 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 Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (AU$64.7m market cap, or US$43.3m).New Risk • Nov 06New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major 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 (25% average weekly change). Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$63.8m market cap, or US$41.5m).お知らせ • Oct 17+ 1 more updateAndromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million.Andromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 142,857,143 Price\Range: AUD 0.0175 Discount Per Security: AUD 0.00035 Security Features: Attached OptionsNew Risk • Oct 01New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$9.0m 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$9.0m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m (AU$760k revenue, or US$502k). Minor Risk Market cap is less than US$100m (AU$64.9m market cap, or US$42.8m).New Risk • Sep 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 (24% average weekly change). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$76.3m market cap, or US$50.2m).お知らせ • Sep 22Andromeda Metals Limited, Annual General Meeting, Nov 20, 2025Andromeda Metals Limited, Annual General Meeting, Nov 20, 2025.New Risk • Sep 15New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 23% 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 Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$76.3m market cap, or US$50.8m).New Risk • Jun 17New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% 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 (34% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (AU$49.5m market cap, or US$32.4m).Price Target Changed • May 21Price target decreased by 7.1% to AU$0.13Down from AU$0.14, the current price target is provided by 1 analyst. New target price is 1,200% above last closing price of AU$0.01. Stock is down 41% over the past year. The company is forecast to post a net loss per share of AU$0.002 next year compared to a net loss per share of AU$0.0023 last year.お知らせ • May 12Andromeda 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 ListingNew Risk • Mar 15New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$11m 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$11m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$6.0m net loss next year). Market cap is less than US$100m (AU$25.7m market cap, or US$16.3m).お知らせ • Dec 26Andromeda Metals Limited Announces Board ChangesAndromeda 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 • Nov 26Less than half of directors are independentThere 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.お知らせ • Nov 21Andromeda Metals Limited Announces Election of Michael Ferdinand as A DirectorAndromeda Metals Limited announced election of Mr. Michael Ferdinand as a Director, at the AGM held on November 21, 2024.Price Target Changed • Oct 01Price target decreased by 38% to AU$0.13Down from AU$0.21, the current price target is provided by 1 analyst. New target price is 1,525% above last closing price of AU$0.008. Stock is down 60% over the past year. The company is forecast to post a net loss per share of AU$0.002 next year compared to a net loss per share of AU$0.003 last year.New Risk • Sep 30New minor risk - Financial data availabilityThe 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 (20% 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).お知らせ • Sep 24Andromeda Metals Limited, Annual General Meeting, Nov 21, 2024Andromeda Metals Limited, Annual General Meeting, Nov 21, 2024.お知らせ • Sep 11+ 1 more updateAndromeda Metals Limited Announces Management ChangesAndromeda Metals Limited announced the following Board and Executive changes. The Company announced that Luke Anderson has resigned as Chief Executive Officer and Managing Director, effective 11 September 2024. Unfortunately, Luke has determined that the current state of his health is incompatible with the needs of the Company and its shareholders. As a result, Sue-Ann Higgins has assumed the role of Executive Chair. Mick Wilkes will remain on the Board as a Non-executive Director to assist the company with financing discussions for the Great White Project. Mr. Wilkes has taken the decision not to receive any director fees until the Project is fully financed.Board Change • Sep 01High number of new and inexperienced directorsThere 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 27New minor risk - Shareholder dilutionThe 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 (22% 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).お知らせ • Aug 22+ 1 more updateAndromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 3.396 million.Andromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 3.396 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 283,000,000 Price\Range: AUD 0.012 Discount Per Security: AUD 0.00072 Security Features: Attached Options Transaction Features: Subsequent Direct ListingNew Risk • Jul 29New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: AU$9.6m Forecast net loss in 2 years: AU$2.0m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. 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 (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). Market cap is less than US$100m (AU$59.1m market cap, or US$38.7m).Board Change • Mar 01High number of new and inexperienced directorsThere 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 • Feb 28New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% 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$18m free cash flow). Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$8.0m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$87.1m market cap, or US$56.6m).お知らせ • Feb 21Andromeda Metals Limited Announces the Appointment of Sue-Ann Higgins as an Independent Non-Executive DirectorAndromeda 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.お知らせ • Feb 02Andromeda Metals Limited Announces Step Down of Melissa Holzberger as Independent Non-Executive DirectorAndromeda 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.お知らせ • Nov 08Andromeda Metals Limited Announces Executive ChangesAndromeda 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.お知らせ • Oct 11+ 1 more updateAndromeda Metals Limited Appoints Pascal Alexander-Bossy as Chief Financial OfficerAndromeda Metals Limited advised that Mr. Pascal Alexander-Bossy has been appointed as Chief Financial Officer, commencing 20 November 2023. Mr. Alexander-Bossy is an experienced commodity & mining finance professional with extensive international and Australian cross-commodity and cross-product experience. He developed and led global commodity debt and investment portfolios as both capital provider and capital employer. Pascal holds a Bachelor's degree, majoring in Commerce and Law from The University of Queensland and completed a postgraduate Honours in Finance (1st Class). A summary of his resume is included at the end of this announcement.お知らせ • Sep 26Andromeda Metals Limited, Annual General Meeting, Nov 22, 2023Andromeda Metals Limited, Annual General Meeting, Nov 22, 2023.お知らせ • Sep 16Trigg 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.分析記事 • Aug 25We Think Andromeda Metals (ASX:ADN) Needs To Drive Business Growth CarefullyWe can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...Recent Insider Transactions • May 26MD, CEO & Director recently bought AU$445k worth of stockOn 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 17High number of new and inexperienced directorsThere 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.お知らせ • Feb 08Andromeda Metals Limited Announces Resignation of Michael Zannes as Chief Financial Officer, Effective 3 March 2023Andromeda 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.お知らせ • Jan 17Andromeda Metals Limited Announces General Counsel and Company Secretary ChangesAndromeda 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 17Independent Non-Executive Chair recently bought AU$53k worth of stockOn 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.お知らせ • Jan 09Andromeda Metals Limited Announces Executive ChangesAndromeda 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).お知らせ • Nov 29Andromeda Metals Limited Announces Exploration Target of High Bright White Kaolin Defines At the Chairlift ProspectAndromeda Metals Limited announced an Exploration Target of High Bright White kaolin (brightness of +80 ISO B) has been defined at the Chairlift prospect. This follows results from aircore drilling at Chairlift (EL 6664 - Whistler). Interim results have also been received from recent aircore drilling at the Halfpipe prospect (EL 6665 - Hotham), which have shown extensive quantities of high-halloysite (>20%) kaolin. Both prospects are located on tenements that form part of the Eyre Kaolin Project Joint Venture Farm-In Agreement (EKJV)1. Chairlift is located 58 kms southeast and Halfpipe 35 kms northwest of the Great White mining tenement. Chairlift Exploration Target statement assumptions - During April-May 2022, a total of 28 aircore holes for 896 m were drilled at Chairlift, which defined an area covering several square kilometres of High Bright White kaolin. This included 4 drillholes with composite intervals of Ultra-Bright White kaolin (> 84 ISO B). The Chairlift kaolin prospect, similar to the Great White deposit, was developed in situ by lateritic weathering of a feldspar-rich Hiltaba Granite. Based on the brightness (ISO B) analyses from 8 of the 28 aircore drillholes completed at Chairlift, an Exploration Target of 80-120Mt of High Bright White kaolin (ISO B in the range of 80 to 84) has been defined. The potential quantity and grade of the Chairlift Exploration Target is conceptual in nature as there has been insufficient drilling results to estimate a Mineral Resource, and it is uncertain if further exploration drilling will result in the estimation of a Mineral Resource. The Exploration Target is based on a polygonal model that: 1. Assumes continuity between drillhole intersections of +80 ISO B; 2. Limits the width of each polygon to: a. maximum of 400m along the centerline between +80 ISO B intercepts then; and b. limits to the midpoint between closing drillholes; 3. Bases the volume on the resultant polygon's area multiplied by each defining drillhole's +80 ISO B intercept length; and 4. Uses an assumed density based on a Great White average of 1.46t/m3. Halloysite was identified at Chairlift with the best result returned from drillhole CH22AC021, which in the <45µm fraction from 10m, returned 11m at 27.8% halloysite, although ISO B was low at 72.1%. The Chairlift and Halfpipe halloysite results are the first reported results using Andromeda's HDE analysis, a proprietary method developed by Andromeda for halloysite determination. The HDE method has been calibrated and validated by both CSIRO x-ray diffraction (XRD) and artificial intelligence (AI) analysis of scanning electron microscope (SEM) images. The HDE method was developed by Andromeda as a cost-effective and timely method for halloysite grade control to support the development and operational planning of the halloysite-kaolin mine at the Great White deposit.Board Change • Nov 16High number of new and inexperienced directorsThere 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.お知らせ • Oct 21Andromeda Metals Limited, Annual General Meeting, Nov 21, 2022Andromeda Metals Limited, Annual General Meeting, Nov 21, 2022, at 13:00 Cen. Australia Standard Time. Location: Adelaide Pavilion,Veale Gardens corner South Terrace and Peacock Road Adelaide Australia Agenda: To consider election of Mr Michael Wilkes as a director; to consider election of Mr Austen Perrin as a director; to consider re-election of Ms Melissa Holzberger as a director; to consider adoption of remuneration report for year ended on 30 June 2022; and to consider any other business matters.お知らせ • Oct 20Andromeda Metals Limited Appoints Joe Ranford as Chief Operating OfficerAndromeda Metals Limited announced that Joe Ranford has been appointed as Chief Operating Officer (COO) to enhance development and operational management, as the Company progresses the development of its flagship Great White Kaolin Project (GWKP or Project). In this critical full-time role, Mr. Ranford will transfer from a part-time consultant to a full-time employee to focus on building the operating team, management systems and delivering the Project for the Company. Given the importance of the COO role and to provide additional focus on the success of the Project, Mr. Ranford will resign from the Andromeda Board effective 21 November 2022. In addition to his director duties, Mr. Ranford has been instrumental in progressing the development of the Project by leading Andromeda's exploration, development and permitting activities. Over the last two years, Mr. Ranford has also successfully developed the technical parameters for the success of the Project.Board Change • Aug 26High number of new and inexperienced directorsThere 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.お知らせ • Aug 24Andromeda Metals Limited Announces Resignation of Andrew Shearer as A Non-Executive Director of the CompanyAndromeda Metals Limited announced that Mr. Andrew Shearer has resigned as a Non-Executive Director of the Company.Recent Insider Transactions • Jul 02Key Executive recently sold AU$51k worth of stockOn 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.お知らせ • Jun 21Andromeda Metals Limited Appoints Austen Perrin as Independent Non-Executive Director, Effective 1 July 2022The Board of Directors of Andromeda Metals Limited announced the appointment of Austen Perrin as an Independent Non-Executive Director to the Andromeda Board, effective 1 July 2022. Perrin is an experienced corporate executive and company director with more than 35 years of experience in corporate and financial roles. He has considerable knowledge of transport, logistics, infrastructure and the mining industries. He also has in-depth experience across commercial, accounting and the finance spectrums, commencing his career with KPMG. He has held Executive Director Roles at AJ Lucas Group Limited and Toll NZ Limited and Chief Financial Officer roles at AJ Lucas Group Limited, Whitehaven Coal Limited, Asciano Limited and Pacific National Limited. Mr. Perrin holds a Bachelor of Economics and Finance from Macquarie University, is a member of the Institute of Chartered Accountants in Australia and New Zealand; and graduate of the Australian Institute of Company Directors. Mr. Perrin is currently a Non-Executive Director at AJ Lucas Group Limited and Round Oak Minerals Pty Ltd.Recent Insider Transactions • Jun 06Independent Non-Executive Chair recently bought AU$75k worth of stockOn 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.お知らせ • May 06Andromeda Metals Limited Ordinary Shares to Be Deleted from Other OTCAndromeda Metals Limited's Ordinary Shares will be deleted from other OTC effective from May 6, 2022 due to Inactive Security.Recent Insider Transactions • Apr 09Insider recently bought AU$187k worth of stockOn 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.お知らせ • Apr 06+ 1 more updateAndromeda Metals Limited Completes its Definitive Feasibility Study for the Great White Kaolin Project in South Australia and Updates Ore ReserveAndromeda Metals Limited announced that is has completed its Definitive Feasibility Study (DFS) for the Great White Kaolin Project (GWKP, or the Project) in South Australia. The DFS reflects the latest information on the Project and confirms strong long- term cashflows from its high-grade kaolin Mineral Resource and its unique products. Results from the DFS include the following: High margin cashflows, with pre-tax net present value (NPV)8 of AUD613m; Internal rate of return (IRR) of 36%; Earnings before interest, taxes, depreciation, and amortization (EBITDA) of AUD 2,283 million; 28 year life-of-mine; Average annual EBITDA of AUD 81.5 million; Four stage approach with an initial capital cost of AUD 93.8 million; 18-month design and construct duration to achieve first product to market; All capital expenditure subsequent to Stage One is currently intended to be funded by cash flows from the Project; Project payback period of 5.9 years to achieve 600,000 tpa ore throughput in Stage Three; Conventional mining and processing, resulting in high quality products; and Andromeda will now progress secondary approvals and detailed design. The DFS provides for the development of the base-line project underpinned by initial product range and allows for the opportunity to supply and build the market and customer base. With the work undertaken in this DFS, the Project is positioned to produce a range of high value kaolin products for sale domestically and overseas. The high quality, consistency and large tonnage of the GWKP provides for a long-term operation offering generational employment opportunities for Poochera and the surrounding districts with opportunities to diversify and grow their economies. The Project offers up to 70 long term jobs on a residential basis and provides an opportunity to reverse the contracting of the regional community population. Andromeda considers there is an ongoing and increasing demand for the GWKP products in a reducing global supply and Andromeda is well placed to capitalise on this opportunity. Ore Reserve: The GWKP DFS is based upon developing a single kaolin deposit, the Great White Deposit. Material classified as Measured and Indicated in the Mineral Resource estimate have been directly converted to Proved and Probable Reserve. The Ore Reserve comprises of 34% Proved Reserve and 66% Probable Reserve. The Production Target comprises of 34% Proved Reserve, 65% Probable Reserve and 1% Inferred Resource. Inferred Resources are not included in the Reserve and are not considered within the pit design process. The Ore Reserves are based on key modifying factors that include designs, schedules and cost estimates of the DFS that describes the development of the GWKP over a 29-year time frame. Material assumptionsof the DFS include: Metallurgical test work has been completed by reputable laboratories experienced in kaolin processing. This testwork supports modifying factors applied in the Ore Reserve estimate. The mining process has been based on Measured and Indicated Mineral Resources reported in accordance with the 2012 JORC code, together with mine designs and scheduling, geotechnical parameters and mining equipment determined from experienced mining engineers. The processing plant design has been developed by Andromeda personnel with experienced process engineers to support the flowsheet and the predicted yield, throughput, and production estimates of the Project. The infrastructure requirements have been defined by specialist engineers in conjunction with the Project Team. The detailed designs discussed above have been used as the basis for capital and operating costs estimates which have been corroborated by contractor and vendor quotes. Mining method: Kaolin mining at the GWKP utilises conventional load and haul open pit mining methods with excavator and off-road trucks supported by ancillary equipment. The kaolin is shallow lying and truncated at depth by a weathered granite. The deposit is predominantly free dig with some overlaying discontinuous rafts of calcrete and silcrete requiring occasional drill and blast. Mining works in the DFS are proposed to be undertaken by Contractors with grade and ore control managed by Andromeda. Stockpiles will be generated as part of the mining schedule and backfilling of the exhausted pits will commence as soon as practicable. Ongoing rehabilitation is planned, with revegetation programs to stabilise final landforms. Processing method: Great White Kaolin is a naturally high brightness kaolin clay. In situ the clay contains approximately 50% quartzite sand and 45% clay material. The raw clay is fed into the processing plant using a front-end loader. The concentrating process is a simple washing system that liberates the clay from the sand and then separates out the >45 µm fraction. The clay is dewatered and dried to make the Great White KCMTM90 and Great White HRMTM products. Further refining of the concentrate is undertaken as a slurry prior to dewatering using hydrocyclones reducing the content of coarse-grained minerals and minerals containingdeleterious elements such as iron. Higher quality products such as the Great White CRMTM and Great White PRMTM are further refined to meet customer specifications on brightness, halloysite content and fineness. The products are dried and packaged for delivery to distributors and end users.お知らせ • Feb 08Andromeda Metals Limited Provides an Update on Clarke ProspectAndromeda Metals advised that it has received an update from Cobra Resources PLC (Cobra) detailing results from a recent 14-hole (2,144m) RC drilling program, and reanalyses of previous drilling undertaken at the Clarke prospect from the Wudinna Gold Project on the Eyre Peninsula of South Australia. Cobra is earning into the project which is currently owned 100% by Peninsula Resources limited, a wholly owned subsidiary of Andromeda Metals Limited. The Clarke prospect is located approximately 1.75 km north of the inferred Baggy Green Gold Resource which stands at 94,000 ounces at 1.4g/t gold. In Cobra Resources' maiden 2020 drilling program at Clarke drillhole CBRC0009 intercepted from 69m, 31m at 3.06 g/t, refer ADN ASX announcement dated 8 December 2020 titled "Significant high-grade gold intercepted at Wudinna Gold Project". The new drilling at Clarke has extended the gold mineralisation over 400m of strike, split into two lodes, with the mineralisation remaining open to the northwest. Additionally, Rare Earth Element (REE) mineralisation has been identified in the saprolitic clays that overlie the gold mineralisation. Cobra geologists, supported by CSIRO XRD analysis and evaluation, have interpreted the REEs to be absorbed on to the saprolitic clays, a style of REE mineralisation known as Ionic Absorbed Clays (IAC). If confirmed to be IAC, the REE grades and intercepted widths will compare favourably to other IAC rare earth projects. Rare earth mineralisation is open in all directions and the continuity and consistency of rare earth mineralisation indicates that there may be a significant opportunity to increase the extent of the mineralisation's footprint. Similar saprolite horizons are also developed over the at Barns, White Tank and Baggy Green Deposits. Targeted REE analyses of the drill samples used to define these deposits presents as a low-cost exploration opportunity to define further rare earth mineralisation in the region. The Wudinna Gold Project Joint Venture comprises a 2,027km2 land holding in the Gawler Craton. The Wudinna Gold Project within the Joint Venture tenement holding comprises a cluster of gold prospects which includes the Barns, White Tank and Baggy Green Deposits. The Central Gawler Gold Province is a belt of gold-dominant mineralisation which formed approximately 1,590 million years ago during the regionally extensive Hiltaba/GRV tectonothermal event. Gold mineralisation at the Barns, White Tank and Baggy Green Deposits is hosted by variably deformed granodiorite/gneiss interpreted to belong to the Tunkillia Suite, a group of 1690Ma granitoids that form important host rocks in the Central Gawler Gold Province.Recent Insider Transactions • Nov 24MD & Director recently sold AU$120k worth of stockOn 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.Recent Insider Transactions Derivative • Nov 21MD & Director exercised options to buy AU$1.7m worth of stock.On the 12th of November, James Marsh exercised options to buy 11m shares at a strike price of around AU$0.012, costing a total of AU$126k. This transaction amounted to 420% of their direct individual holding at the time of the trade. Since December 2020, James has owned 2.50m shares directly. Company insiders have collectively bought AU$1.8m more than they sold, via options and on-market transactions, in the last 12 months.お知らせ • Sep 27Andromeda Metals Limited and Minotaur Exploration Limited Announce Bulk Sample Drilling Program Commence At the Great White Deposit, Located on the Eyre Peninsula of South AustraliaAndromeda Metals Limited announced that a bulk sample drilling program has commenced at the Great White Deposit, located on the Eyre Peninsula of South Australia which is in joint venture between ADN (75%) and Minotaur Exploration Limited (25%). The drilling will provide material for multiple projects aimed at developing new markets that will be in addition to the current Definitive Feasibility Study's (DFS) Great White CRMTM (for ceramics) and Great White PRMTM (coatings) products. The drilling will provide about 1.5 tonnes of high purity halloysite kaolin to ADN and MEP's 50:50 JV Company, Natural Nanotech Ltd, which in partnership with University of Newcastle's Global Innovative Centre for Advanced Nanomaterials (GICAN), are undertaking R&D into new technology applications of halloysite nanotubes. Andromeda is in the process of installing a large pilot-scale kaolin processing centrifuge at the Streaky Bay pilot plant which will be used to upgrade halloysite purity. Great White halloysite-kaolin has previously been successfully synthesized by GICAN to create advanced nanomaterials to specifically adsorb CO2 from a mixture of gases, up to 1.1 tonne of CO2 per tonne of material has been achieved, and work is ongoing to target the capture of 2 tonnes of CO2 per tonne of material. The Great White JV's Streaky Bay pilot plant has been upgraded to replicate the proposed wet processing production plant flow sheet with new screening and hydro-cyclones to achieve the Great White PRMTM product in line with the product specifications for the MSI Binding Offtake Agreement. This has finalised the testing required for the Definitive Feasibility Study and 70 kilograms of ultrabright, high purity product of greater than 90% powdered brightness has been produced as marketing samples for delivery to offtake partners. Material from the current drilling program will be refined at the JV's Streaky Bay pilot plant before being sent to GICAN. There the halloysite will be used for the production and functionalisation of nanotubes that will be used in a direct air and direct emissions capture carbon capture pilot plant. The carbon capture pilot plant has been designed to be able to continuously capture and discharge this CO2 and convert it into a clean fuel such as methanol, which will effectively close the carbon loop. Great White halloysite nanotubes (HNT) have remarkable selective adsorptive and differentially chargeable properties and can be functionalised and/or engineered to create advanced nanomaterial frameworks for a range of new technology uses. Kaolin from the 34Mt Great White Resource containing about 40% halloysite has been specifically functionalised to adsorb CO2 at over 25 mmol/gm at O°C/30 bar. It is anticipated that the material currently being extracted will achieve a much higher halloysite purity and increase the carbon capture ability significantly.お知らせ • Sep 24Andromeda Metals Limited Announces Testing Results from Advanced Engineering Materials HPA Pilot Test Facility in CanadaAndromeda Metals Limited announced testing results from Advanced Engineering Materials (AEM)'s HPA pilot test facility in Canada have confirmed Great White halloysite-kaolin as a premium grade feed material for the HPA production process Positively the incredibly low levels of specific impurities in Andromeda supplied feed indicates that approx. 3 tonnes of Great White Feed will produce approx. 1 tonne of 4N or better HPA whereas the normal ratio is about 10:1.Executive Departure • Aug 25Executive Director & Company Secretary Nicholas Harding has left the companyOn 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.お知らせ • Jun 22Andromeda Metals Limited Provides an Update of Progress Made in Relation to the Great White Kaolin ProjectAndromeda Metals Limited is the manager of the Great White Kaolin Project, ADN 75% and Minotaur Exploration Limited 25%. The Company announced to provide an update of progress made in relation to the Great White Kaolin Project as it advances towards commencement of operations. Earlier this month, Andromeda advised that it has signed on behalf of the joint venture partners a substantial legally binding offtake agreement with Jiangsu Mineral Sources International Trading Co. Ltd. for sales of 70,000 tpa +/- 10% of refined ultra-bright high-purity kaolin product for an initial term of 5 years at a price fixed for the first 3 years that is at a premium to what was used in the Pre-Feasibility Study which was AUD 700/tonne for ceramic grade material. This ultra-bright, high-purity kaolin product is to be manufactured for the coatings and polymers markets and will be known as `Great White PRM', and is distinct from `Great White CRM' halloysite- kaolin produced to meet the requirements of high-end ceramic manufacturers. The joint venture partners consider the securing of this substantial binding offtake agreement to be a significantly positive development for the Project as it introduces a second product stream to be manufactured on site which has the benefit of providing product diversification and therefore assisting to manage offtake market risk. In addition, the size of the offtake agreement with MSI represents up to two- thirds of stage 1 production for the initial plant capacity being evaluated under the DFS, thereby underpinning the early years of operation for the Great White Project. MSI have indicated that they have longer-term demand for additional quantities of both Great White PRM and CRM, providing added confidence to the joint venture partners that demand for Great White refined halloysite-kaolin material to be produced from a planned full capacity 500,000tpa feed rate processing plant on site currently exists at an attractive selling price. MSI is an active trading company, with a well-established network of suppliers and customers across industrial minerals, sulphur, bauxite, kaolin and copper concentrates. They maintain and operate large warehousing operations in the port city of Zhenjiang, including bonded facilities. Conrad Partners (Conrad) have had a successful business relationship with MSI from early 2017, and MSI have been trading since 2013.お知らせ • Mar 18Andromeda Metals Limited (ASX:ADN) acquired remaining 51% Drummond Project from Evolution Mining Limited (ASX:EVN).Andromeda Metals Limited (ASX:ADN) acquired remaining 51% Drummond Project from Evolution Mining Limited (ASX:EVN) on January 21, 2021. Andromeda Metals Limited (ASX:ADN) completed the acquisition of remaining 51% Drummond Project from Evolution Mining Limited (ASX:EVN) on January 21, 2021.分析記事 • Mar 14We Think Andromeda Metals (ASX:ADN) Needs To Drive Business Growth CarefullyEven when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...お知らせ • Mar 06Andromeda Metals Limited Provides Update on Drilling Underway at Mount Hope Kaolin ProjectAndromeda Metals Limited reported the commencement of drilling at the company's 100% owned Mount Hope Kaolin Deposit located on EL 6286, approximately 80 kilometers northwest of Port Lincoln and 160 kilometers southeast of the Great White Kaolin Project on the west coast of South Australia's Eyre Peninsula. The aircore drilling program will comprise of approximately 50 holes for up to 2,500 metres targeting the thick, kaolinised weathered gneiss (Sleaford Complex) of the Mount Hope Kaolin Deposit. Results from the drilling program will be used to update the Mount Hope Mineral Resource Estimate, and where supported (statistically), upgrade the Resource from an inferred to an indicated classification. The 2020 Mount Hope Mineral Resource Estimate of 18.0Mt of kaolinized gneiss included two sub domains; an Ultra-Bright (R457 >84 in the minus 45 micron) high-purity (very low iron) kaolin sub domain and a halloysite-kaolin sub-domain. Much of the infill drilling will target the high purity kaolin sub domain, located in the central and southern portion of the Resource which is typically thicker and of higher quality. The Mount Hope Mineral Resource yields 7.5Mt of High Bright kaolin product (R457 >80) when applying the minus 45 micron recovery factor. The Ultra-Bright sub domain contains 1.6Mt of minus 45 micron material with an ISO brightness (R457) of 84.1 and the halloysite sub domain contains 0.6Mt of minus 45 micron material comprised of 17.2% halloysite. High-Purity Kaolin Testing for Coating and Polymer Applications: The Ultra-Bright domain is comprised of extremely high purity, bright white kaolin with low halloysite levels. This makes it ideally suited to high-value markets in specialist coatings and polymers, thus providing market diversification and de-risking opportunities while presenting new and potentially significant markets for the company to pursue. A large representative sample (blended from 15 drillholes) of ultra-high purity kaolin from Mount Hope Deposit was sent to Europe for processing and testing to determine its suitability for these high -value markets where commercial kaolin products (Imerys Supreme) are currently sold for approximately AUD 1,000/t. The ISO brightness and the particle size distributions of refined product at 70% and 90% < 2um from Mount Hope were shown to be exceptional, which confirmed excellent potential for the high value coatings and polymer markets. In key attributes the refined Mount Hope kaolinite compares favourably to the top commercial grades globally, and even the 70% <2um product is better in brightness. Ceramic fired brightness testing (compressed discs fired to 1180°C) was carried out as potential interest for product blending with halloysitic material, and the ISO brightness (R457) values of the refined product were over 100 (off-scale) which reflects the minimal impurities present. Positively, all processed samples were close to the theoretical maximum for alumina for kaolin and with virtually no colouring oxides or alkalis, which also indicates good potential to produce High Purity Alumina (HPA). To further progress this market, material collected from the 2021 drilling will allow for larger quantities of refined kaolinite to be produced through the recently recommissioned pilot plant at Streaky Bay.お知らせ • Mar 01Andromeda Metals Limited Submits Mining Lease Application for Great White ProjectAndromeda Metals Limited announced that it has lodged applications on behalf of the joint venture partners for a Mining Lease and two Miscellaneous Purposes Licences with the South Australian Department for Energy and Mining (DEM) for the proposed development of the Great White Kaolin Project which is located near Poochera on the west coast of South Australia's Eyre Peninsula. The lodgement of the applications represents a significant milestone in the Project's development which is focussed on the commencement of operations in February 2022. The joint venture partners are proposing to develop the Great White Kaolin Deposit by seeking approval for the following: A Mining Lease (ML) for the mine, processing plant and supporting infrastructure; A Miscellaneous Purposes Licence (MPL) for an access road to the ML; and A MPL for a water supply pipeline from Poochera to the ML. The final project scope and configuration is currently being evaluated under the Definitive Feasibility Study, due for completion in the second quarter of 2021.Is New 90 Day High Low • Feb 22New 90-day high: AU$0.33The company is up 3.0% from its price of AU$0.32 on 24 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 18% over the same period.お知らせ • Jan 26Andromeda Metals Limited Announces Great White Kaolin Project UpdateAndromeda Metals Limited reported of significant progress being made towards obtaining Mining Lease approval and consequent commencement of operations at the Great White Kaolin Project near Poochera on the west coast of South Australia's Eyre Peninsula. The Great White Kaolin Project is a Joint Venture with Minotaur Exploration Limited in which ADN holds a 75% equity interest. The Department of Energy and Mining of the Government of South Australia has officially determined the Great White Kaolin Project to be a new mine for royalty consideration and hence has granted a concessional royalty rate of 2.0% to apply to mineral production for the Project up to 30 June 2026, which represents a reduction of 1.5% and consequent savings to the Project of approximately $9 million in the early years of operation. The Mining Lease application is nearing completion and is currently due to be submitted next month, which will be a significant step towards the planned operational start of the Project in February 2022. Substantial effort is being directed towards the completion of the DFS during the second quarter of 2021 with a number of options being considered to provide the optimal return for the Project whilst minimising key risks. As part of this process, Primero Engineering Group has been awarded the EPC contract (Engineering, Procurement and Construction). Primero is a vertically integrated engineering group that specialise in the design, construction and operation of global resource projects, which includes valuable kaolin project experience. As well as having relevant experience in the management of similar studies, Primero offers several advantages with an established reputation for the completion of such work within schedule and budget. They also have the ability to continue into subsequent stages of the project development through the implementation and commissioning phases. This is enhanced with well-developed systems for health, safety, and environmental management to give strong safety and environmental performances that exceed industry benchmarks. In addition, corporate finance advisory group Origin Capital has been engaged to assist with the BFS from a financing perspective. Origin Capital are a highly experienced group in all areas of corporate finance and will provide project financing solutions for consideration by the joint venture partners in making a final investment decision following completion of the DFS. Advanced discussions are currently in progress with a number of potential customers to lock in Binding Offtake Agreements. Conrad Partners are on the ground following up all current opportunities in China, along with Andromeda staff who are working on a number of other customers targeted throughout Asia and Europe. The Camel Lake Prospect in South Australia has long been known to be the source of samples of the best high-purity halloysite ever found globally. Positive progress has now been made on this opportunity with a site inspection completed in January and open communications in place with the Traditional Owners and their anthropologist. The next stage is to formalise a site access agreement with the Maralinga Tjarutja People followed by Andromeda geologists carrying out field exploration later in the year. The Natural Nanotech (NNT) research and commercialisation joint venture (50:50 Andromeda and Minotaur) set up to investigate new technology applications for halloysite-kaolinite nanoparticles has doubled funding into the research programs at the University of Newcastle's Global Innovative Center for Advanced Nanomaterials (GICAN). The program will now incorporate eighteen research areas including batteries, supercapacitors and semiconductor technologies, peroxidase and antimicrobial agents in water treatment, and for selective gaseous (CO2, H2) capture-storage-transport-conversion. Construction of a pilot plant to manufacture a halloysite composite for CO2 capture is underway. The patent applications process is ongoing for these unique nanotechnologies involved in producing carbon nanomaterials from halloysite-kaolin precursors and the subsequent processing routes for their specific environmental uses.分析記事 • Jan 20Andromeda Metals Limited (ASX:ADN): Are Analysts Optimistic?With the business potentially at an important milestone, we thought we'd take a closer look at Andromeda Metals...お知らせ • Nov 26Andromeda Metals Limited Updates Mineral Resource for Great White Kaolin JV DepositAndromeda Metals Limited reported an updated Mineral Resource estimate reported in accordance with the 2012 JORC Code for the Great White Deposit located on EL 5814 near Poochera on the west coast of South Australia's Eyre Peninsula. The Great White Mineral Resource estimate is one of a number of kaolin (kaolinite and halloysite) deposits which are included under a Joint Venture with Minotaur Exploration Limited in which ADN now holds a 75% equity interest. This updated Mineral Resource estimate replaces the previous December 2019 Mineral Resource estimate. New JORC 2012 Mineral Resource: The updated Mineral Resource Estimate for the Great White Deposit is now 34.6Mt of kaolinised granit reported at an ISO Brightness cut-off of 75% in the minus 45 micron size fraction. The Resource includes two subdomains; a halloysite-kaolin sub-domain Halloysite Domain and an ultra high bright (ISO B >84%) high-purity kaolin subdomain Ultra Bright Domain. The Resource yields 17.4Mt of High Bright kaolin product (ISO B >75%) when applying the minus 45 micron recovery factor, with the remaining approximate 50% of material being largely residual quartz derived from the weathered granite. The halloysite kaolin subdomain contains 8.0Mt of minus 45 micron material comprised of 13.3% halloysite and the Ultra Bright sub domain contains 0.6Mt of minus 45 micron material with an ISO B of 86.8%. Recent drilling to the north of the Halloysite Domain identified the Ultra Bright Domain which consists of extremely high purity kaolinite with ultra-high brightness (ISO B >84%) and low halloysite levels that is ideally suited to high-value markets in specialist coatings and polymers. The location of the Ultra Bright and Halloysite Domains are identified in Figure 2 as well as the location of the Indicated and Measure portions of the 2020 Great White Mineral Resource in relation to the outline of the 2020 PFS pit shell. The background image in Figure 2 is colour stretched to identify zones of halloysite +5% (teal) and ISO B +84% (red) and demonstrates the heterogeneity of the deposit. The drill data was used to define a flat-lying kaolin deposit that covers an area 1.7km east-west by 1.7km north-south and has an average depth below surface of 23.9m with a depth range of 10m in the west to 46m in the east. The deposit has an average thickness of 9.4m with a maximum thickness of 23.9m and with extremities modelled down to a thickness of 1m. Overburden consists of a thin soil layer overlying calcrete which in turn overlies a mixed sequence of alluvial clays, sands and gravels. The top of the kaolin can be silicified and the base of silicification marks the top of the kaolin resource whilst the change in weathering intensity marks the base of the kaolin resource. The drilling and sampling procedures and analytical methods for the December 2019 and June 2020 drilling programs were the same used for the May 2019 drilling program which were reviewed by H&S Consultants and assessed as having no obvious issues with the sampling or analysis of the data. All lithological units were modelled which for the first time included the subdivision of the saprolite into upper and lower saprolite. The mineralised shells were based off the lithological units but upper and lower extents of the saprolite were restricted to an ISO B of >75%. Samples were flagged from the drillhole database using lithological wireframes including the restricted upper and lower saprolite wireframes. Grade interpolation of the kaolinite and halloysite was completed for the minus 45 micron recovered material, along with Al2O3, Fe2O3, SiO2, TiO2 and ISO Brightness which are all obtained on the minus 45 micron fraction. Ordinary Kriging was chosen as the most appropriate method for the grade interpolation. Block size was 25m by 25m by 5m (X, Y & Z), with 6.25m by 6.25m by 1.25m sub-blocking. Maptek's Vulcan software was used for modelling and the grade interpolation which used a single flat lying search domain of 250m by 250m by 15m. Resource classification was based on the following criteria; Inferred - internal blocks populated by single interval within 250m Indicated Halloysite Domain - minimum of 2 octants populated by combined minimum of 4 samples within 150m search radius Indicated Ultra Bright Domain - minimum of 2 quadrants each populated by two samples within 150m. (Note tighter restriction reflects smaller proposed mining unit and tighter specifications on contaminants) Measured - 4 quadrants each populated by two samples within 150m. The database, triangulations and the block modelling process has been reviewed by H&SC and no significant issues were noted. Material available for Reserve estimation has reduced by 0.3Mt (20.3Mt down to 20.0Mt), although grades have improved, as shown in Table 9. However, tighter constraints for the Measured classification (December 2019 required 8 samples within 4 octants while November 2020 required 4 quadrants each populated by two samples) saw the transfer of material from Measured to Indicated. Importantly the Resource in the proposed first six years of mining based on the June 2020 Pre-Feasibility study is classified as Measured. The increase in Inferred material 5.3Mt to 14.7Mt reflects the new zones of halloysite kaolin identified in the June 2020 broad spaced drilling to south east of the December 2019 Resource estimate. The December 2019 Resource estimate used 4m composite assays whereas the November 2020 Resource estimate used straight samples weighted by length. The use of straight samples was chosen to minimize vertical smearing as sample lengths within the drillhole database range between 1m to 5m (sample length/percentage 1m 8.4%, 2m 17.9%, 3m 26.1%, 4m 25.2% and 5m 22.3%) while the parent block height used is 5m. Density measurements for the December 2019 Resource estimate were derived from the 2018 auger drilling program. The density measurements for the November 2020 Resource estimate utilised data from seven diamond drillholes cored in late 2019 and early 2020. The dry bulk density (DBD) measurements for both programs were calculated by the same process a modified Archimedes - oven dried, weighed, weighed vacuum sealed in plastic submerged in water (with known buoyancy). An average density for the saprolite of 1.44t/m3 was used for the December 2019 estimate. The density data from the diamond drill core gave an average density of 1.46t/m3 for the upper saprolite and 1.67t/m3 for the lower saprolite.Is New 90 Day High Low • Nov 13New 90-day high: AU$0.24The company is up 380% 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 13Insider recently bought AU$251k worth of stockOn 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.お知らせ • Oct 05Andromeda Metals Limited Announces Commencement of Drilling At Wudinna Gold ProjectAndromeda Metals has been advised by Wudinna Gold Project Joint Venture partner Cobra Resources PLC (Cobra) that drilling has commenced in relation to a substantial RC drilling program at a number of identified targets across the Project. Cobra is planning to complete 3 field exploration programs from late September through until December 2020, which will include up to 45 RC drill holes for up to 6,750 metres of drilling at Baggy Green, Baggy Green North, Clarke, Laker, Barns and Larwood prospects. The first of these programs is a 3,750 metre RC drilling program for up to 25 holes to be undertaken at Baggy Green, Baggy Green North, Laker and Clarke which is now underway. Program 2, comprising the collection of approximately 150 auger geochemical samples at the Larwood prospect, is planned to commence in November 2020 once cropping activities in the area are complete. Program 3 currently is designed to comprise a 20 RC drill holes for approximately 3,000 metres at Barns and Larwood. Cobra have stated that their prime objective for the extensive exploration program is to define the orientation and extensions of mineralisation at a number of the identified prospects across the Wudinna Gold Project with the strategic aim of building towards an initial target of 1 million ounces of gold resource. Currently a Mineral Resource of 4.43 million tonnes at 1.5g/t gold for 211,000 ounces has been reported at the Barns, White Tank and Baggy Green deposits which comprises 4.02 million tonnes at 1.5g/t gold for 193,000 ounces of Inferred Resource and 0.41 million tonnes at 1.4g/t for 18,000 ounces of Indicated Resource. Completion of this exploration program would see Cobra meet the Stage 1 expenditure commitment under the joint venture agreement by the agreed extended date of 31 December 2020, and result in Cobra acquiring a 50% equity interest in the Project. Wudinna Gold Farm-in and Joint Venture: The principal terms of the Wudinna Gold Farm-in and Joint Venture which was executed on 31 October 2017 between ADN and Cobra include: Cobra will sole fund $2.1 million within 3 years of execution to earn a 50% equity position (Stage 1 earn- in). Both joint venture partners have agreed to extend this to 31 December 2020; At the end of Stage 1, a joint venture can be formed, or alternatively Cobra can spend a further $1.65 million over a further two years (total funding of $3.75 million over 5 years) to earn a 65% equity interest (Stage 2 earn-in). · At the end of Stage 2, a joint venture can be formed, or alternatively Cobra can spend a further $1.25 million over a further 12 months (total funding of $5.0 million over 6 years) to earn a 75% equity interest (Stage 3 earn-in); Once a joint venture is formed, the parties will contribute to further expenditure in accordance with their respective equity, or dilute using a standard dilution procedure; Should a party's equity fall below 5%, its equity will be compulsorily acquired by the other party at a price to be negotiated in good faith, or failing agreement, at a price determined by an independent valuer; Cobra must meet the requisite statutory expenditure requirements to keep the project tenements in good standing; Cobra will act as manager during the farm-in and thereafter while ever it holds at least 50% equity. Deposit Descriptions: The Eyre Peninsula Gold Joint Venture comprises a 1,928 km2 land holding in the Gawler Craton. The Wudinna Gold Camp within the Joint Venture tenement holding comprises a cluster of gold prospects which includes the Barns, White Tank and Baggy Green deposits. The Central Gawler Gold Province is a belt of gold-dominant mineralisation which formed approximately 1590 million years ago during the regionally extensive Hiltaba/GRV tectonothermal event. Gold mineralisation at the Barns, White Tank and Baggy Green deposits is hosted by variably deformed granodiorite/gneiss interpreted to belong to the Tunkillia Suite, a group of 1690Ma granitiods that form important host rocks in the Central Gawler Gold Province. Interpreted mineralisation at Barns extends over an area of 400 mN by 250 mE and is up to 200 metres deep. Two lodes of flati-lying supergene mineralisation and 12 lodes of shallow dipping, fresh mineralisation have been interpreted. At White Tank, the interpreted mineralisation extends for 250 mN by 150 mE and is up to 120 metres deep. One lode of flat-lying mineralisation and two shallow dipping lodes of mineralisation within fresh material have been interpreted. The Baggy Green Resource has two areas of mineralisation: within the south the interpreted mineralization extends over an area of 200 mN by 400 mE and in the north it extends over an area of 150 mN by 300 mE. One lode of flat-lying supergene mineralisation and 13 shallow dipping lodes of mineralisation have been interpreted within the fresh material to a depth of 200 metres.お知らせ • Oct 03Andromeda Metals Limited Announces Mineral Resource for Hammerhead Halloysite-Kaolin DepositAndromeda Metals Limited report the inaugural Hammerhead Mineral Resource Estimate reported in accordance with the 2012 JORC Code and Guidelines. The Hammerhead Deposit is located on exploration licence EL 5814 and lies 5kms to the north of the Great White Deposit on the Eyre Peninsula of South Australia and is part of the Great White Kaolin Joint Venture with Minotaur Exploration Limited under which ADN is currently earning a 75% interest. The Company has now received the remaining XRD results for the May 2020 drilling program. An Inferred Resource Estimate for the Hammerhead Deposit of 51.5Mt of kaolinised granite reported at an ISO brightness (R457) cut-off of 75 in the minus 45-micron size fraction. The Resource includes a halloysite rich sub-domain and remains open to the east, south and northwest. The Resource yields 27.1Mt of High Bright kaolin product (R457 >80 <84) in the minus 45-micron recovered fraction, with the remaining approximate 47.4% of material being largely residual quartz derived from the weathered granite. The Halloysite sub domain contains 4.7Mt of minus 45-micron material comprised of 21.6% halloysite with an ISO B of 82.9. Significantly, some areas within the Hammerhead Deposit show high levels of halloysite (>20%) that is similar to the existing resource reported at the Great White Kaolin Deposit. ADN and MEP have completed 112 rotary air blast (RAB) aircore drilling holes (4,942.4 metres) and 2 diamond holes (99.1m) used for geotech and density measurements only. All 114 drillholes were drilled vertically to intersect the flat-lying mineralisation at right angles with most holes intersecting the upper (hanging wall) and lower (footwall) contacts to the mineralisation. ADN's composited samples were wet sieved at Bureau Veritas in Adelaide to determine percentage passing -45µm, with the recovered material then analysed by Bureau Veritas using their XRF 4B method to determine elements that include Al2O3, Fe2O3, SiO2 and TiO2. Brightness on the minus 45-micron material was determined by ADN staff at an enclosed laboratory room at Bureau Veritas using the Company's Technidyne Colourtouch CT-PC Spectrophotometer in accordance with Tappi standard T534 om-15. Analysis for halloysite and kaolinite content was undertaken by CSIRO on all samples. This data was used to define a flat-lying kaolin deposit that lies between 7 and 62m below the surface. The Resource Estimate covers an area of approximately 1.0km E-W by 2.9km N-S with a kaolin thickness ranging from 2m to 32m and the thickest part of the deposit open to the south/south west. A plan view of the geological interpretation for the kaolin body is shown in Figures 2 and 3 and structure contours of the top of the kaolin mineralization showing the thickness of the kaolin is shown in Figure 3. Overburden which has an average thickness of 23.6m consists of a thin soil layer which overlies a mixed sequence of alluvial clays, sands and gravels. On rare occasions the top of the kaolin is silicified and the base of silicification marks the top of the kaolin resource whilst the change in weathering intensity marks the base of the kaolin resource. The drilling and sampling procedures and analytical methods implemented by ADN were the same used for the Great White Kaolin Deposit at Poochera which had been reviewed by H&S Consultants and assessed as having no obvious issues with the sampling or analysis of the data. Composite intervals were extracted from the drillhole database constrained by the kaolin wireframes. Grade interpolation of the kaolinite and halloysite was completed for the minus 45 micron recovered material, along with Al2O3, Fe2O3, SiO2, TiO2 and R457 all obtained on the minus 45-micron fraction. Statistical analysis of the composite data was undertaken and showed reasonably well-structured data with low coefficients of variation, all of which resulted in no top cuts being applied. Variography showed that current drillhole spacings are insufficient to support Indicated or Measured classification. Inverse distance squared (ID2) was chosen as the most appropriate method for the grade interpolation. Maptek's Vulcan software was used for modelling and the grade interpolation which used a single flat lying search domain of 300m by 200m by 5m (long axis orientated to 145 degrees) to reflect the overall consistency in strike and dip of the mineralisation. Block size was 50m by 50m by 5m (X, Y & Z), with 10m by 10m by 1m sub-blocking. Two wireframes were used to define the upper and lower saprolite within the mineralised zone. Other wireframes were used to map out geological boundaries above the mineralised zone but these have no impact on the resource. Block model validation consisted of a visual comparison of block grades with drillhole assays and composite values and a review of the summary statistics for the block grades and composite values. An example of block grade comparison to drillhole assays is shown in Figure 4. No significant issues were noted. Density measurements for the deposit were calculated from drill core using a modified Archimedes method with the drill core sealed prior to submersion. An average dry bulk density of 1.39t/m3 was assigned to the upper saprolite and a density of 1.52 t/m3 lower saprolite. Future work to upgrade the resource estimation category will require additional drilling to reduce the drillhole spacings, obtain more samples for dry bulk density determinations and undertake hydrogeological studies.Reported Earnings • Oct 02Full year earnings released - AU$0.0024 loss per shareOver the last 12 months the company has reported total losses of AU$3.45m, with losses widening by 208% from the prior year.株主還元ADNAU Metals and MiningAU 市場7D12.5%4.4%0.2%1Y-47.1%57.3%5.8%株主還元を見る業界別リターン: ADN過去 1 年間で57.3 % の収益を上げたAustralian Metals and Mining業界を下回りました。リターン対市場: ADNは、過去 1 年間で5.8 % のリターンを上げたAustralian市場を下回りました。価格変動Is ADN's price volatile compared to industry and market?ADN volatilityADN Average Weekly Movement17.0%Metals and Mining Industry Average Movement12.0%Market Average Movement10.5%10% most volatile stocks in AU Market17.2%10% least volatile stocks in AU Market4.5%安定した株価: ADNの株価は、 Australian市場と比較して過去 3 か月間で変動しています。時間の経過による変動: ADNの weekly volatility ( 17% ) は過去 1 年間安定していますが、依然としてAustralianの株式の 75% よりも高くなっています。会社概要設立従業員CEO（最高経営責任者ウェブサイト1993n/aSarah Clarkewww.andromet.com.auアンドロメダ・メタルズ社はオーストラリアで鉱物探査会社として操業している。カオリナイト、ハロイサイト、高純度アルミナ鉱床を探鉱している。同社の主要プロジェクトは、南オーストラリア州にある3つの採掘鉱区と3つの探鉱鉱区から成る、100％所有のグレート・ホワイト・プロジェクトである。同社は以前はアデレード・リソーシズ・リミテッド（Adelaide Resources Limited）として知られていたが、2016年12月にアンドロメダ・メタルズ・リミテッド（Andromeda Metals Limited）に社名を変更した。同社は1993年に法人化され、オーストラリアのアデレードに本社を置いている。もっと見るAndromeda Metals Limited 基礎のまとめAndromeda Metals の収益と売上を時価総額と比較するとどうか。ADN 基礎統計学時価総額AU$41.59m収益（TTM）-AU$105.28m売上高(TTM)n/a0.0xP/Sレシオ-0.4xPER（株価収益率ADN は割高か？公正価値と評価分析を参照収益と収入最新の決算報告書（TTM）に基づく主な収益性統計ADN 損益計算書（TTM）収益AU$0売上原価AU$0売上総利益AU$0その他の費用AU$105.28m収益-AU$105.28m直近の収益報告Dec 31, 2025次回決算日該当なし一株当たり利益（EPS）-0.023グロス・マージン0.00%純利益率0.00%有利子負債／自己資本比率0%ADN の長期的なパフォーマンスは？過去の実績と比較を見るView Valuation企業分析と財務データの現状データ最終更新日（UTC時間）企業分析2026/05/09 17:37終値2026/05/08 00:00収益2025/12/31年間収益2025/06/30データソース企業分析に使用したデータはS&P Global Market Intelligence LLC のものです。本レポートを作成するための分析モデルでは、以下のデータを使用しています。データは正規化されているため、ソースが利用可能になるまでに時間がかかる場合があります。パッケージデータタイムフレーム米国ソース例会社財務10年損益計算書キャッシュ・フロー計算書貸借対照表SECフォーム10-KSECフォーム10-Qアナリストのコンセンサス予想+プラス3年予想財務アナリストの目標株価アナリストリサーチレポートBlue Matrix市場価格30年株価配当、分割、措置ICEマーケットデータSECフォームS-1所有権10年トップ株主インサイダー取引SECフォーム4SECフォーム13Dマネジメント10年リーダーシップ・チーム取締役会SECフォーム10-KSECフォームDEF 14A主な進展10年会社からのお知らせSECフォーム8-K* 米国証券を対象とした例であり、非米国証券については、同等の規制書式および情報源を使用。特に断りのない限り、すべての財務データは1年ごとの期間に基づいていますが、四半期ごとに更新されます。これは、TTM（Trailing Twelve Month）またはLTM（Last Twelve Month）データとして知られています。詳細はこちら。分析モデルとスノーフレーク本レポートを生成するために使用した分析モデルの詳細は当社のGithubページでご覧いただけます。また、レポートの使用方法に関するガイドやYoutubeのチュートリアルも掲載しています。シンプリー・ウォールストリート分析モデルを設計・構築した世界トップクラスのチームについてご紹介します。業界およびセクターの指標私たちの業界とセクションの指標は、Simply Wall Stによって6時間ごとに計算されます。アナリスト筋Andromeda Metals Limited 0 これらのアナリストのうち、弊社レポートのインプットとして使用した売上高または利益の予想を提出したのは、 。アナリストの投稿は一日中更新されます。1 アナリスト機関Michael BentleyMST Financial Services Pty Limited
Featured narrative•Materials opportunityUpside Gold3 months ago author updated this narrativeSTFair Value from stuart_robertsCA$5.0768.0% 割安 内在価値ディスカウントAn Undervalued 3.3Moz Gold Project in CanadaKey takeaways Upside Gold is developing the Kena Gold Project, near the town of Nelson in the Kootenays region of southern British Columbia. Kena hosts a historical gold resource of 3.33 million ounces (561,000 ounces Indicated and 2.77 million ounces Inferred) across a 10,200-hectare land package.Read full narrative15.3kusers have viewed this narrative42users have liked this narrative1users have commented on this narrative288users have followed this narrativeRead narrative
分析記事 • Mar 27Here's Why We're Watching Andromeda Metals' (ASX:ADN) Cash Burn SituationWe can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...
New Risk • Jan 05New major risk - Revenue and earnings growthEarnings 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 Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (AU$64.7m market cap, or US$43.3m).
New Risk • Nov 06New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major 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 (25% average weekly change). Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$63.8m market cap, or US$41.5m).
お知らせ • Oct 17+ 1 more updateAndromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million.Andromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 142,857,143 Price\Range: AUD 0.0175 Discount Per Security: AUD 0.00035 Security Features: Attached Options
New Risk • Oct 01New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$9.0m 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$9.0m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m (AU$760k revenue, or US$502k). Minor Risk Market cap is less than US$100m (AU$64.9m market cap, or US$42.8m).
New Risk • Sep 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 (24% average weekly change). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$76.3m market cap, or US$50.2m).
分析記事 • Mar 27Here's Why We're Watching Andromeda Metals' (ASX:ADN) Cash Burn SituationWe can readily understand why investors are attracted to unprofitable companies. For example, biotech and mining...
New Risk • Jan 05New major risk - Revenue and earnings growthEarnings 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 Risks Share price has been volatile over the past 3 months (16% average weekly change). Market cap is less than US$100m (AU$64.7m market cap, or US$43.3m).
New Risk • Nov 06New major risk - Shareholder dilutionThe company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 33% This is considered a major 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 (25% average weekly change). Shareholders have been substantially diluted in the past year (33% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$63.8m market cap, or US$41.5m).
お知らせ • Oct 17+ 1 more updateAndromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million.Andromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 2.5 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 142,857,143 Price\Range: AUD 0.0175 Discount Per Security: AUD 0.00035 Security Features: Attached Options
New Risk • Oct 01New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$9.0m 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$9.0m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m (AU$760k revenue, or US$502k). Minor Risk Market cap is less than US$100m (AU$64.9m market cap, or US$42.8m).
New Risk • Sep 29New minor risk - Financial data availabilityThe company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2024. 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 (24% average weekly change). Revenue is less than US$1m. Minor Risks Latest financial reports are more than 6 months old (reported December 2024 fiscal period end). Market cap is less than US$100m (AU$76.3m market cap, or US$50.2m).
お知らせ • Sep 22Andromeda Metals Limited, Annual General Meeting, Nov 20, 2025Andromeda Metals Limited, Annual General Meeting, Nov 20, 2025.
New Risk • Sep 15New major risk - Share price stabilityThe company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of Australian stocks, typically moving 23% 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 Share price has been highly volatile over the past 3 months (23% average weekly change). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$76.3m market cap, or US$50.8m).
New Risk • Jun 17New minor risk - Shareholder dilutionThe company's shareholders have been diluted in the past year. Increase in shares outstanding: 23% 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 (34% average weekly change). Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (23% increase in shares outstanding). Market cap is less than US$100m (AU$49.5m market cap, or US$32.4m).
Price Target Changed • May 21Price target decreased by 7.1% to AU$0.13Down from AU$0.14, the current price target is provided by 1 analyst. New target price is 1,200% above last closing price of AU$0.01. Stock is down 41% over the past year. The company is forecast to post a net loss per share of AU$0.002 next year compared to a net loss per share of AU$0.0023 last year.
お知らせ • May 12Andromeda 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
New Risk • Mar 15New major risk - Financial positionThe company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$11m 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$11m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$6.0m net loss next year). Market cap is less than US$100m (AU$25.7m market cap, or US$16.3m).
お知らせ • Dec 26Andromeda Metals Limited Announces Board ChangesAndromeda 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 • Nov 26Less than half of directors are independentThere 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.
お知らせ • Nov 21Andromeda Metals Limited Announces Election of Michael Ferdinand as A DirectorAndromeda Metals Limited announced election of Mr. Michael Ferdinand as a Director, at the AGM held on November 21, 2024.
Price Target Changed • Oct 01Price target decreased by 38% to AU$0.13Down from AU$0.21, the current price target is provided by 1 analyst. New target price is 1,525% above last closing price of AU$0.008. Stock is down 60% over the past year. The company is forecast to post a net loss per share of AU$0.002 next year compared to a net loss per share of AU$0.003 last year.
New Risk • Sep 30New minor risk - Financial data availabilityThe 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 (20% 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).
お知らせ • Sep 24Andromeda Metals Limited, Annual General Meeting, Nov 21, 2024Andromeda Metals Limited, Annual General Meeting, Nov 21, 2024.
お知らせ • Sep 11+ 1 more updateAndromeda Metals Limited Announces Management ChangesAndromeda Metals Limited announced the following Board and Executive changes. The Company announced that Luke Anderson has resigned as Chief Executive Officer and Managing Director, effective 11 September 2024. Unfortunately, Luke has determined that the current state of his health is incompatible with the needs of the Company and its shareholders. As a result, Sue-Ann Higgins has assumed the role of Executive Chair. Mick Wilkes will remain on the Board as a Non-executive Director to assist the company with financing discussions for the Great White Project. Mr. Wilkes has taken the decision not to receive any director fees until the Project is fully financed.
Board Change • Sep 01High number of new and inexperienced directorsThere 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 27New minor risk - Shareholder dilutionThe 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 (22% 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).
お知らせ • Aug 22+ 1 more updateAndromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 3.396 million.Andromeda Metals Limited has filed a Follow-on Equity Offering in the amount of AUD 3.396 million. Security Name: Ordinary Shares Security Type: Common Stock Securities Offered: 283,000,000 Price\Range: AUD 0.012 Discount Per Security: AUD 0.00072 Security Features: Attached Options Transaction Features: Subsequent Direct Listing
New Risk • Jul 29New minor risk - ProfitabilityThe company is currently unprofitable and not forecast to become profitable over the next 2 years. Trailing 12-month net loss: AU$9.6m Forecast net loss in 2 years: AU$2.0m This is considered a minor risk. Companies that are not profitable are more likely to be burning through cash and less likely to be well established. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. Without profits, the company is under pressure to grow significantly while potentially having to reduce costs and possibly needing to take on debt or raise capital to remain afloat. 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 (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). Market cap is less than US$100m (AU$59.1m market cap, or US$38.7m).
Board Change • Mar 01High number of new and inexperienced directorsThere 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 • Feb 28New minor risk - Share price stabilityThe company's share price has been volatile over the past 3 months. It is more volatile than 75% of Australian stocks, typically moving 13% 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$18m free cash flow). Earnings have declined by 42% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Currently unprofitable and not forecast to become profitable next year (AU$8.0m net loss next year). Share price has been volatile over the past 3 months (13% average weekly change). Market cap is less than US$100m (AU$87.1m market cap, or US$56.6m).
お知らせ • Feb 21Andromeda Metals Limited Announces the Appointment of Sue-Ann Higgins as an Independent Non-Executive DirectorAndromeda 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.
お知らせ • Feb 02Andromeda Metals Limited Announces Step Down of Melissa Holzberger as Independent Non-Executive DirectorAndromeda 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.
お知らせ • Nov 08Andromeda Metals Limited Announces Executive ChangesAndromeda 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.
お知らせ • Oct 11+ 1 more updateAndromeda Metals Limited Appoints Pascal Alexander-Bossy as Chief Financial OfficerAndromeda Metals Limited advised that Mr. Pascal Alexander-Bossy has been appointed as Chief Financial Officer, commencing 20 November 2023. Mr. Alexander-Bossy is an experienced commodity & mining finance professional with extensive international and Australian cross-commodity and cross-product experience. He developed and led global commodity debt and investment portfolios as both capital provider and capital employer. Pascal holds a Bachelor's degree, majoring in Commerce and Law from The University of Queensland and completed a postgraduate Honours in Finance (1st Class). A summary of his resume is included at the end of this announcement.
お知らせ • Sep 26Andromeda Metals Limited, Annual General Meeting, Nov 22, 2023Andromeda Metals Limited, Annual General Meeting, Nov 22, 2023.
お知らせ • Sep 16Trigg 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.
分析記事 • Aug 25We Think Andromeda Metals (ASX:ADN) Needs To Drive Business Growth CarefullyWe can readily understand why investors are attracted to unprofitable companies. For example, although Amazon.com made...
Recent Insider Transactions • May 26MD, CEO & Director recently bought AU$445k worth of stockOn 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 17High number of new and inexperienced directorsThere 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.
お知らせ • Feb 08Andromeda Metals Limited Announces Resignation of Michael Zannes as Chief Financial Officer, Effective 3 March 2023Andromeda 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.
お知らせ • Jan 17Andromeda Metals Limited Announces General Counsel and Company Secretary ChangesAndromeda 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 17Independent Non-Executive Chair recently bought AU$53k worth of stockOn 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.
お知らせ • Jan 09Andromeda Metals Limited Announces Executive ChangesAndromeda 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).
お知らせ • Nov 29Andromeda Metals Limited Announces Exploration Target of High Bright White Kaolin Defines At the Chairlift ProspectAndromeda Metals Limited announced an Exploration Target of High Bright White kaolin (brightness of +80 ISO B) has been defined at the Chairlift prospect. This follows results from aircore drilling at Chairlift (EL 6664 - Whistler). Interim results have also been received from recent aircore drilling at the Halfpipe prospect (EL 6665 - Hotham), which have shown extensive quantities of high-halloysite (>20%) kaolin. Both prospects are located on tenements that form part of the Eyre Kaolin Project Joint Venture Farm-In Agreement (EKJV)1. Chairlift is located 58 kms southeast and Halfpipe 35 kms northwest of the Great White mining tenement. Chairlift Exploration Target statement assumptions - During April-May 2022, a total of 28 aircore holes for 896 m were drilled at Chairlift, which defined an area covering several square kilometres of High Bright White kaolin. This included 4 drillholes with composite intervals of Ultra-Bright White kaolin (> 84 ISO B). The Chairlift kaolin prospect, similar to the Great White deposit, was developed in situ by lateritic weathering of a feldspar-rich Hiltaba Granite. Based on the brightness (ISO B) analyses from 8 of the 28 aircore drillholes completed at Chairlift, an Exploration Target of 80-120Mt of High Bright White kaolin (ISO B in the range of 80 to 84) has been defined. The potential quantity and grade of the Chairlift Exploration Target is conceptual in nature as there has been insufficient drilling results to estimate a Mineral Resource, and it is uncertain if further exploration drilling will result in the estimation of a Mineral Resource. The Exploration Target is based on a polygonal model that: 1. Assumes continuity between drillhole intersections of +80 ISO B; 2. Limits the width of each polygon to: a. maximum of 400m along the centerline between +80 ISO B intercepts then; and b. limits to the midpoint between closing drillholes; 3. Bases the volume on the resultant polygon's area multiplied by each defining drillhole's +80 ISO B intercept length; and 4. Uses an assumed density based on a Great White average of 1.46t/m3. Halloysite was identified at Chairlift with the best result returned from drillhole CH22AC021, which in the <45µm fraction from 10m, returned 11m at 27.8% halloysite, although ISO B was low at 72.1%. The Chairlift and Halfpipe halloysite results are the first reported results using Andromeda's HDE analysis, a proprietary method developed by Andromeda for halloysite determination. The HDE method has been calibrated and validated by both CSIRO x-ray diffraction (XRD) and artificial intelligence (AI) analysis of scanning electron microscope (SEM) images. The HDE method was developed by Andromeda as a cost-effective and timely method for halloysite grade control to support the development and operational planning of the halloysite-kaolin mine at the Great White deposit.
Board Change • Nov 16High number of new and inexperienced directorsThere 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.
お知らせ • Oct 21Andromeda Metals Limited, Annual General Meeting, Nov 21, 2022Andromeda Metals Limited, Annual General Meeting, Nov 21, 2022, at 13:00 Cen. Australia Standard Time. Location: Adelaide Pavilion,Veale Gardens corner South Terrace and Peacock Road Adelaide Australia Agenda: To consider election of Mr Michael Wilkes as a director; to consider election of Mr Austen Perrin as a director; to consider re-election of Ms Melissa Holzberger as a director; to consider adoption of remuneration report for year ended on 30 June 2022; and to consider any other business matters.
お知らせ • Oct 20Andromeda Metals Limited Appoints Joe Ranford as Chief Operating OfficerAndromeda Metals Limited announced that Joe Ranford has been appointed as Chief Operating Officer (COO) to enhance development and operational management, as the Company progresses the development of its flagship Great White Kaolin Project (GWKP or Project). In this critical full-time role, Mr. Ranford will transfer from a part-time consultant to a full-time employee to focus on building the operating team, management systems and delivering the Project for the Company. Given the importance of the COO role and to provide additional focus on the success of the Project, Mr. Ranford will resign from the Andromeda Board effective 21 November 2022. In addition to his director duties, Mr. Ranford has been instrumental in progressing the development of the Project by leading Andromeda's exploration, development and permitting activities. Over the last two years, Mr. Ranford has also successfully developed the technical parameters for the success of the Project.
Board Change • Aug 26High number of new and inexperienced directorsThere 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.
お知らせ • Aug 24Andromeda Metals Limited Announces Resignation of Andrew Shearer as A Non-Executive Director of the CompanyAndromeda Metals Limited announced that Mr. Andrew Shearer has resigned as a Non-Executive Director of the Company.
Recent Insider Transactions • Jul 02Key Executive recently sold AU$51k worth of stockOn 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.
お知らせ • Jun 21Andromeda Metals Limited Appoints Austen Perrin as Independent Non-Executive Director, Effective 1 July 2022The Board of Directors of Andromeda Metals Limited announced the appointment of Austen Perrin as an Independent Non-Executive Director to the Andromeda Board, effective 1 July 2022. Perrin is an experienced corporate executive and company director with more than 35 years of experience in corporate and financial roles. He has considerable knowledge of transport, logistics, infrastructure and the mining industries. He also has in-depth experience across commercial, accounting and the finance spectrums, commencing his career with KPMG. He has held Executive Director Roles at AJ Lucas Group Limited and Toll NZ Limited and Chief Financial Officer roles at AJ Lucas Group Limited, Whitehaven Coal Limited, Asciano Limited and Pacific National Limited. Mr. Perrin holds a Bachelor of Economics and Finance from Macquarie University, is a member of the Institute of Chartered Accountants in Australia and New Zealand; and graduate of the Australian Institute of Company Directors. Mr. Perrin is currently a Non-Executive Director at AJ Lucas Group Limited and Round Oak Minerals Pty Ltd.
Recent Insider Transactions • Jun 06Independent Non-Executive Chair recently bought AU$75k worth of stockOn 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.
お知らせ • May 06Andromeda Metals Limited Ordinary Shares to Be Deleted from Other OTCAndromeda Metals Limited's Ordinary Shares will be deleted from other OTC effective from May 6, 2022 due to Inactive Security.
Recent Insider Transactions • Apr 09Insider recently bought AU$187k worth of stockOn 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.
お知らせ • Apr 06+ 1 more updateAndromeda Metals Limited Completes its Definitive Feasibility Study for the Great White Kaolin Project in South Australia and Updates Ore ReserveAndromeda Metals Limited announced that is has completed its Definitive Feasibility Study (DFS) for the Great White Kaolin Project (GWKP, or the Project) in South Australia. The DFS reflects the latest information on the Project and confirms strong long- term cashflows from its high-grade kaolin Mineral Resource and its unique products. Results from the DFS include the following: High margin cashflows, with pre-tax net present value (NPV)8 of AUD613m; Internal rate of return (IRR) of 36%; Earnings before interest, taxes, depreciation, and amortization (EBITDA) of AUD 2,283 million; 28 year life-of-mine; Average annual EBITDA of AUD 81.5 million; Four stage approach with an initial capital cost of AUD 93.8 million; 18-month design and construct duration to achieve first product to market; All capital expenditure subsequent to Stage One is currently intended to be funded by cash flows from the Project; Project payback period of 5.9 years to achieve 600,000 tpa ore throughput in Stage Three; Conventional mining and processing, resulting in high quality products; and Andromeda will now progress secondary approvals and detailed design. The DFS provides for the development of the base-line project underpinned by initial product range and allows for the opportunity to supply and build the market and customer base. With the work undertaken in this DFS, the Project is positioned to produce a range of high value kaolin products for sale domestically and overseas. The high quality, consistency and large tonnage of the GWKP provides for a long-term operation offering generational employment opportunities for Poochera and the surrounding districts with opportunities to diversify and grow their economies. The Project offers up to 70 long term jobs on a residential basis and provides an opportunity to reverse the contracting of the regional community population. Andromeda considers there is an ongoing and increasing demand for the GWKP products in a reducing global supply and Andromeda is well placed to capitalise on this opportunity. Ore Reserve: The GWKP DFS is based upon developing a single kaolin deposit, the Great White Deposit. Material classified as Measured and Indicated in the Mineral Resource estimate have been directly converted to Proved and Probable Reserve. The Ore Reserve comprises of 34% Proved Reserve and 66% Probable Reserve. The Production Target comprises of 34% Proved Reserve, 65% Probable Reserve and 1% Inferred Resource. Inferred Resources are not included in the Reserve and are not considered within the pit design process. The Ore Reserves are based on key modifying factors that include designs, schedules and cost estimates of the DFS that describes the development of the GWKP over a 29-year time frame. Material assumptionsof the DFS include: Metallurgical test work has been completed by reputable laboratories experienced in kaolin processing. This testwork supports modifying factors applied in the Ore Reserve estimate. The mining process has been based on Measured and Indicated Mineral Resources reported in accordance with the 2012 JORC code, together with mine designs and scheduling, geotechnical parameters and mining equipment determined from experienced mining engineers. The processing plant design has been developed by Andromeda personnel with experienced process engineers to support the flowsheet and the predicted yield, throughput, and production estimates of the Project. The infrastructure requirements have been defined by specialist engineers in conjunction with the Project Team. The detailed designs discussed above have been used as the basis for capital and operating costs estimates which have been corroborated by contractor and vendor quotes. Mining method: Kaolin mining at the GWKP utilises conventional load and haul open pit mining methods with excavator and off-road trucks supported by ancillary equipment. The kaolin is shallow lying and truncated at depth by a weathered granite. The deposit is predominantly free dig with some overlaying discontinuous rafts of calcrete and silcrete requiring occasional drill and blast. Mining works in the DFS are proposed to be undertaken by Contractors with grade and ore control managed by Andromeda. Stockpiles will be generated as part of the mining schedule and backfilling of the exhausted pits will commence as soon as practicable. Ongoing rehabilitation is planned, with revegetation programs to stabilise final landforms. Processing method: Great White Kaolin is a naturally high brightness kaolin clay. In situ the clay contains approximately 50% quartzite sand and 45% clay material. The raw clay is fed into the processing plant using a front-end loader. The concentrating process is a simple washing system that liberates the clay from the sand and then separates out the >45 µm fraction. The clay is dewatered and dried to make the Great White KCMTM90 and Great White HRMTM products. Further refining of the concentrate is undertaken as a slurry prior to dewatering using hydrocyclones reducing the content of coarse-grained minerals and minerals containingdeleterious elements such as iron. Higher quality products such as the Great White CRMTM and Great White PRMTM are further refined to meet customer specifications on brightness, halloysite content and fineness. The products are dried and packaged for delivery to distributors and end users.
お知らせ • Feb 08Andromeda Metals Limited Provides an Update on Clarke ProspectAndromeda Metals advised that it has received an update from Cobra Resources PLC (Cobra) detailing results from a recent 14-hole (2,144m) RC drilling program, and reanalyses of previous drilling undertaken at the Clarke prospect from the Wudinna Gold Project on the Eyre Peninsula of South Australia. Cobra is earning into the project which is currently owned 100% by Peninsula Resources limited, a wholly owned subsidiary of Andromeda Metals Limited. The Clarke prospect is located approximately 1.75 km north of the inferred Baggy Green Gold Resource which stands at 94,000 ounces at 1.4g/t gold. In Cobra Resources' maiden 2020 drilling program at Clarke drillhole CBRC0009 intercepted from 69m, 31m at 3.06 g/t, refer ADN ASX announcement dated 8 December 2020 titled "Significant high-grade gold intercepted at Wudinna Gold Project". The new drilling at Clarke has extended the gold mineralisation over 400m of strike, split into two lodes, with the mineralisation remaining open to the northwest. Additionally, Rare Earth Element (REE) mineralisation has been identified in the saprolitic clays that overlie the gold mineralisation. Cobra geologists, supported by CSIRO XRD analysis and evaluation, have interpreted the REEs to be absorbed on to the saprolitic clays, a style of REE mineralisation known as Ionic Absorbed Clays (IAC). If confirmed to be IAC, the REE grades and intercepted widths will compare favourably to other IAC rare earth projects. Rare earth mineralisation is open in all directions and the continuity and consistency of rare earth mineralisation indicates that there may be a significant opportunity to increase the extent of the mineralisation's footprint. Similar saprolite horizons are also developed over the at Barns, White Tank and Baggy Green Deposits. Targeted REE analyses of the drill samples used to define these deposits presents as a low-cost exploration opportunity to define further rare earth mineralisation in the region. The Wudinna Gold Project Joint Venture comprises a 2,027km2 land holding in the Gawler Craton. The Wudinna Gold Project within the Joint Venture tenement holding comprises a cluster of gold prospects which includes the Barns, White Tank and Baggy Green Deposits. The Central Gawler Gold Province is a belt of gold-dominant mineralisation which formed approximately 1,590 million years ago during the regionally extensive Hiltaba/GRV tectonothermal event. Gold mineralisation at the Barns, White Tank and Baggy Green Deposits is hosted by variably deformed granodiorite/gneiss interpreted to belong to the Tunkillia Suite, a group of 1690Ma granitoids that form important host rocks in the Central Gawler Gold Province.
Recent Insider Transactions • Nov 24MD & Director recently sold AU$120k worth of stockOn 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.
Recent Insider Transactions Derivative • Nov 21MD & Director exercised options to buy AU$1.7m worth of stock.On the 12th of November, James Marsh exercised options to buy 11m shares at a strike price of around AU$0.012, costing a total of AU$126k. This transaction amounted to 420% of their direct individual holding at the time of the trade. Since December 2020, James has owned 2.50m shares directly. Company insiders have collectively bought AU$1.8m more than they sold, via options and on-market transactions, in the last 12 months.
お知らせ • Sep 27Andromeda Metals Limited and Minotaur Exploration Limited Announce Bulk Sample Drilling Program Commence At the Great White Deposit, Located on the Eyre Peninsula of South AustraliaAndromeda Metals Limited announced that a bulk sample drilling program has commenced at the Great White Deposit, located on the Eyre Peninsula of South Australia which is in joint venture between ADN (75%) and Minotaur Exploration Limited (25%). The drilling will provide material for multiple projects aimed at developing new markets that will be in addition to the current Definitive Feasibility Study's (DFS) Great White CRMTM (for ceramics) and Great White PRMTM (coatings) products. The drilling will provide about 1.5 tonnes of high purity halloysite kaolin to ADN and MEP's 50:50 JV Company, Natural Nanotech Ltd, which in partnership with University of Newcastle's Global Innovative Centre for Advanced Nanomaterials (GICAN), are undertaking R&D into new technology applications of halloysite nanotubes. Andromeda is in the process of installing a large pilot-scale kaolin processing centrifuge at the Streaky Bay pilot plant which will be used to upgrade halloysite purity. Great White halloysite-kaolin has previously been successfully synthesized by GICAN to create advanced nanomaterials to specifically adsorb CO2 from a mixture of gases, up to 1.1 tonne of CO2 per tonne of material has been achieved, and work is ongoing to target the capture of 2 tonnes of CO2 per tonne of material. The Great White JV's Streaky Bay pilot plant has been upgraded to replicate the proposed wet processing production plant flow sheet with new screening and hydro-cyclones to achieve the Great White PRMTM product in line with the product specifications for the MSI Binding Offtake Agreement. This has finalised the testing required for the Definitive Feasibility Study and 70 kilograms of ultrabright, high purity product of greater than 90% powdered brightness has been produced as marketing samples for delivery to offtake partners. Material from the current drilling program will be refined at the JV's Streaky Bay pilot plant before being sent to GICAN. There the halloysite will be used for the production and functionalisation of nanotubes that will be used in a direct air and direct emissions capture carbon capture pilot plant. The carbon capture pilot plant has been designed to be able to continuously capture and discharge this CO2 and convert it into a clean fuel such as methanol, which will effectively close the carbon loop. Great White halloysite nanotubes (HNT) have remarkable selective adsorptive and differentially chargeable properties and can be functionalised and/or engineered to create advanced nanomaterial frameworks for a range of new technology uses. Kaolin from the 34Mt Great White Resource containing about 40% halloysite has been specifically functionalised to adsorb CO2 at over 25 mmol/gm at O°C/30 bar. It is anticipated that the material currently being extracted will achieve a much higher halloysite purity and increase the carbon capture ability significantly.
お知らせ • Sep 24Andromeda Metals Limited Announces Testing Results from Advanced Engineering Materials HPA Pilot Test Facility in CanadaAndromeda Metals Limited announced testing results from Advanced Engineering Materials (AEM)'s HPA pilot test facility in Canada have confirmed Great White halloysite-kaolin as a premium grade feed material for the HPA production process Positively the incredibly low levels of specific impurities in Andromeda supplied feed indicates that approx. 3 tonnes of Great White Feed will produce approx. 1 tonne of 4N or better HPA whereas the normal ratio is about 10:1.
Executive Departure • Aug 25Executive Director & Company Secretary Nicholas Harding has left the companyOn 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.
お知らせ • Jun 22Andromeda Metals Limited Provides an Update of Progress Made in Relation to the Great White Kaolin ProjectAndromeda Metals Limited is the manager of the Great White Kaolin Project, ADN 75% and Minotaur Exploration Limited 25%. The Company announced to provide an update of progress made in relation to the Great White Kaolin Project as it advances towards commencement of operations. Earlier this month, Andromeda advised that it has signed on behalf of the joint venture partners a substantial legally binding offtake agreement with Jiangsu Mineral Sources International Trading Co. Ltd. for sales of 70,000 tpa +/- 10% of refined ultra-bright high-purity kaolin product for an initial term of 5 years at a price fixed for the first 3 years that is at a premium to what was used in the Pre-Feasibility Study which was AUD 700/tonne for ceramic grade material. This ultra-bright, high-purity kaolin product is to be manufactured for the coatings and polymers markets and will be known as `Great White PRM', and is distinct from `Great White CRM' halloysite- kaolin produced to meet the requirements of high-end ceramic manufacturers. The joint venture partners consider the securing of this substantial binding offtake agreement to be a significantly positive development for the Project as it introduces a second product stream to be manufactured on site which has the benefit of providing product diversification and therefore assisting to manage offtake market risk. In addition, the size of the offtake agreement with MSI represents up to two- thirds of stage 1 production for the initial plant capacity being evaluated under the DFS, thereby underpinning the early years of operation for the Great White Project. MSI have indicated that they have longer-term demand for additional quantities of both Great White PRM and CRM, providing added confidence to the joint venture partners that demand for Great White refined halloysite-kaolin material to be produced from a planned full capacity 500,000tpa feed rate processing plant on site currently exists at an attractive selling price. MSI is an active trading company, with a well-established network of suppliers and customers across industrial minerals, sulphur, bauxite, kaolin and copper concentrates. They maintain and operate large warehousing operations in the port city of Zhenjiang, including bonded facilities. Conrad Partners (Conrad) have had a successful business relationship with MSI from early 2017, and MSI have been trading since 2013.
お知らせ • Mar 18Andromeda Metals Limited (ASX:ADN) acquired remaining 51% Drummond Project from Evolution Mining Limited (ASX:EVN).Andromeda Metals Limited (ASX:ADN) acquired remaining 51% Drummond Project from Evolution Mining Limited (ASX:EVN) on January 21, 2021. Andromeda Metals Limited (ASX:ADN) completed the acquisition of remaining 51% Drummond Project from Evolution Mining Limited (ASX:EVN) on January 21, 2021.
分析記事 • Mar 14We Think Andromeda Metals (ASX:ADN) Needs To Drive Business Growth CarefullyEven when a business is losing money, it's possible for shareholders to make money if they buy a good business at the...
お知らせ • Mar 06Andromeda Metals Limited Provides Update on Drilling Underway at Mount Hope Kaolin ProjectAndromeda Metals Limited reported the commencement of drilling at the company's 100% owned Mount Hope Kaolin Deposit located on EL 6286, approximately 80 kilometers northwest of Port Lincoln and 160 kilometers southeast of the Great White Kaolin Project on the west coast of South Australia's Eyre Peninsula. The aircore drilling program will comprise of approximately 50 holes for up to 2,500 metres targeting the thick, kaolinised weathered gneiss (Sleaford Complex) of the Mount Hope Kaolin Deposit. Results from the drilling program will be used to update the Mount Hope Mineral Resource Estimate, and where supported (statistically), upgrade the Resource from an inferred to an indicated classification. The 2020 Mount Hope Mineral Resource Estimate of 18.0Mt of kaolinized gneiss included two sub domains; an Ultra-Bright (R457 >84 in the minus 45 micron) high-purity (very low iron) kaolin sub domain and a halloysite-kaolin sub-domain. Much of the infill drilling will target the high purity kaolin sub domain, located in the central and southern portion of the Resource which is typically thicker and of higher quality. The Mount Hope Mineral Resource yields 7.5Mt of High Bright kaolin product (R457 >80) when applying the minus 45 micron recovery factor. The Ultra-Bright sub domain contains 1.6Mt of minus 45 micron material with an ISO brightness (R457) of 84.1 and the halloysite sub domain contains 0.6Mt of minus 45 micron material comprised of 17.2% halloysite. High-Purity Kaolin Testing for Coating and Polymer Applications: The Ultra-Bright domain is comprised of extremely high purity, bright white kaolin with low halloysite levels. This makes it ideally suited to high-value markets in specialist coatings and polymers, thus providing market diversification and de-risking opportunities while presenting new and potentially significant markets for the company to pursue. A large representative sample (blended from 15 drillholes) of ultra-high purity kaolin from Mount Hope Deposit was sent to Europe for processing and testing to determine its suitability for these high -value markets where commercial kaolin products (Imerys Supreme) are currently sold for approximately AUD 1,000/t. The ISO brightness and the particle size distributions of refined product at 70% and 90% < 2um from Mount Hope were shown to be exceptional, which confirmed excellent potential for the high value coatings and polymer markets. In key attributes the refined Mount Hope kaolinite compares favourably to the top commercial grades globally, and even the 70% <2um product is better in brightness. Ceramic fired brightness testing (compressed discs fired to 1180°C) was carried out as potential interest for product blending with halloysitic material, and the ISO brightness (R457) values of the refined product were over 100 (off-scale) which reflects the minimal impurities present. Positively, all processed samples were close to the theoretical maximum for alumina for kaolin and with virtually no colouring oxides or alkalis, which also indicates good potential to produce High Purity Alumina (HPA). To further progress this market, material collected from the 2021 drilling will allow for larger quantities of refined kaolinite to be produced through the recently recommissioned pilot plant at Streaky Bay.
お知らせ • Mar 01Andromeda Metals Limited Submits Mining Lease Application for Great White ProjectAndromeda Metals Limited announced that it has lodged applications on behalf of the joint venture partners for a Mining Lease and two Miscellaneous Purposes Licences with the South Australian Department for Energy and Mining (DEM) for the proposed development of the Great White Kaolin Project which is located near Poochera on the west coast of South Australia's Eyre Peninsula. The lodgement of the applications represents a significant milestone in the Project's development which is focussed on the commencement of operations in February 2022. The joint venture partners are proposing to develop the Great White Kaolin Deposit by seeking approval for the following: A Mining Lease (ML) for the mine, processing plant and supporting infrastructure; A Miscellaneous Purposes Licence (MPL) for an access road to the ML; and A MPL for a water supply pipeline from Poochera to the ML. The final project scope and configuration is currently being evaluated under the Definitive Feasibility Study, due for completion in the second quarter of 2021.
Is New 90 Day High Low • Feb 22New 90-day high: AU$0.33The company is up 3.0% from its price of AU$0.32 on 24 November 2020. The Australian market is up 5.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Metals and Mining industry, which is up 18% over the same period.
お知らせ • Jan 26Andromeda Metals Limited Announces Great White Kaolin Project UpdateAndromeda Metals Limited reported of significant progress being made towards obtaining Mining Lease approval and consequent commencement of operations at the Great White Kaolin Project near Poochera on the west coast of South Australia's Eyre Peninsula. The Great White Kaolin Project is a Joint Venture with Minotaur Exploration Limited in which ADN holds a 75% equity interest. The Department of Energy and Mining of the Government of South Australia has officially determined the Great White Kaolin Project to be a new mine for royalty consideration and hence has granted a concessional royalty rate of 2.0% to apply to mineral production for the Project up to 30 June 2026, which represents a reduction of 1.5% and consequent savings to the Project of approximately $9 million in the early years of operation. The Mining Lease application is nearing completion and is currently due to be submitted next month, which will be a significant step towards the planned operational start of the Project in February 2022. Substantial effort is being directed towards the completion of the DFS during the second quarter of 2021 with a number of options being considered to provide the optimal return for the Project whilst minimising key risks. As part of this process, Primero Engineering Group has been awarded the EPC contract (Engineering, Procurement and Construction). Primero is a vertically integrated engineering group that specialise in the design, construction and operation of global resource projects, which includes valuable kaolin project experience. As well as having relevant experience in the management of similar studies, Primero offers several advantages with an established reputation for the completion of such work within schedule and budget. They also have the ability to continue into subsequent stages of the project development through the implementation and commissioning phases. This is enhanced with well-developed systems for health, safety, and environmental management to give strong safety and environmental performances that exceed industry benchmarks. In addition, corporate finance advisory group Origin Capital has been engaged to assist with the BFS from a financing perspective. Origin Capital are a highly experienced group in all areas of corporate finance and will provide project financing solutions for consideration by the joint venture partners in making a final investment decision following completion of the DFS. Advanced discussions are currently in progress with a number of potential customers to lock in Binding Offtake Agreements. Conrad Partners are on the ground following up all current opportunities in China, along with Andromeda staff who are working on a number of other customers targeted throughout Asia and Europe. The Camel Lake Prospect in South Australia has long been known to be the source of samples of the best high-purity halloysite ever found globally. Positive progress has now been made on this opportunity with a site inspection completed in January and open communications in place with the Traditional Owners and their anthropologist. The next stage is to formalise a site access agreement with the Maralinga Tjarutja People followed by Andromeda geologists carrying out field exploration later in the year. The Natural Nanotech (NNT) research and commercialisation joint venture (50:50 Andromeda and Minotaur) set up to investigate new technology applications for halloysite-kaolinite nanoparticles has doubled funding into the research programs at the University of Newcastle's Global Innovative Center for Advanced Nanomaterials (GICAN). The program will now incorporate eighteen research areas including batteries, supercapacitors and semiconductor technologies, peroxidase and antimicrobial agents in water treatment, and for selective gaseous (CO2, H2) capture-storage-transport-conversion. Construction of a pilot plant to manufacture a halloysite composite for CO2 capture is underway. The patent applications process is ongoing for these unique nanotechnologies involved in producing carbon nanomaterials from halloysite-kaolin precursors and the subsequent processing routes for their specific environmental uses.
分析記事 • Jan 20Andromeda Metals Limited (ASX:ADN): Are Analysts Optimistic?With the business potentially at an important milestone, we thought we'd take a closer look at Andromeda Metals...
お知らせ • Nov 26Andromeda Metals Limited Updates Mineral Resource for Great White Kaolin JV DepositAndromeda Metals Limited reported an updated Mineral Resource estimate reported in accordance with the 2012 JORC Code for the Great White Deposit located on EL 5814 near Poochera on the west coast of South Australia's Eyre Peninsula. The Great White Mineral Resource estimate is one of a number of kaolin (kaolinite and halloysite) deposits which are included under a Joint Venture with Minotaur Exploration Limited in which ADN now holds a 75% equity interest. This updated Mineral Resource estimate replaces the previous December 2019 Mineral Resource estimate. New JORC 2012 Mineral Resource: The updated Mineral Resource Estimate for the Great White Deposit is now 34.6Mt of kaolinised granit reported at an ISO Brightness cut-off of 75% in the minus 45 micron size fraction. The Resource includes two subdomains; a halloysite-kaolin sub-domain Halloysite Domain and an ultra high bright (ISO B >84%) high-purity kaolin subdomain Ultra Bright Domain. The Resource yields 17.4Mt of High Bright kaolin product (ISO B >75%) when applying the minus 45 micron recovery factor, with the remaining approximate 50% of material being largely residual quartz derived from the weathered granite. The halloysite kaolin subdomain contains 8.0Mt of minus 45 micron material comprised of 13.3% halloysite and the Ultra Bright sub domain contains 0.6Mt of minus 45 micron material with an ISO B of 86.8%. Recent drilling to the north of the Halloysite Domain identified the Ultra Bright Domain which consists of extremely high purity kaolinite with ultra-high brightness (ISO B >84%) and low halloysite levels that is ideally suited to high-value markets in specialist coatings and polymers. The location of the Ultra Bright and Halloysite Domains are identified in Figure 2 as well as the location of the Indicated and Measure portions of the 2020 Great White Mineral Resource in relation to the outline of the 2020 PFS pit shell. The background image in Figure 2 is colour stretched to identify zones of halloysite +5% (teal) and ISO B +84% (red) and demonstrates the heterogeneity of the deposit. The drill data was used to define a flat-lying kaolin deposit that covers an area 1.7km east-west by 1.7km north-south and has an average depth below surface of 23.9m with a depth range of 10m in the west to 46m in the east. The deposit has an average thickness of 9.4m with a maximum thickness of 23.9m and with extremities modelled down to a thickness of 1m. Overburden consists of a thin soil layer overlying calcrete which in turn overlies a mixed sequence of alluvial clays, sands and gravels. The top of the kaolin can be silicified and the base of silicification marks the top of the kaolin resource whilst the change in weathering intensity marks the base of the kaolin resource. The drilling and sampling procedures and analytical methods for the December 2019 and June 2020 drilling programs were the same used for the May 2019 drilling program which were reviewed by H&S Consultants and assessed as having no obvious issues with the sampling or analysis of the data. All lithological units were modelled which for the first time included the subdivision of the saprolite into upper and lower saprolite. The mineralised shells were based off the lithological units but upper and lower extents of the saprolite were restricted to an ISO B of >75%. Samples were flagged from the drillhole database using lithological wireframes including the restricted upper and lower saprolite wireframes. Grade interpolation of the kaolinite and halloysite was completed for the minus 45 micron recovered material, along with Al2O3, Fe2O3, SiO2, TiO2 and ISO Brightness which are all obtained on the minus 45 micron fraction. Ordinary Kriging was chosen as the most appropriate method for the grade interpolation. Block size was 25m by 25m by 5m (X, Y & Z), with 6.25m by 6.25m by 1.25m sub-blocking. Maptek's Vulcan software was used for modelling and the grade interpolation which used a single flat lying search domain of 250m by 250m by 15m. Resource classification was based on the following criteria; Inferred - internal blocks populated by single interval within 250m Indicated Halloysite Domain - minimum of 2 octants populated by combined minimum of 4 samples within 150m search radius Indicated Ultra Bright Domain - minimum of 2 quadrants each populated by two samples within 150m. (Note tighter restriction reflects smaller proposed mining unit and tighter specifications on contaminants) Measured - 4 quadrants each populated by two samples within 150m. The database, triangulations and the block modelling process has been reviewed by H&SC and no significant issues were noted. Material available for Reserve estimation has reduced by 0.3Mt (20.3Mt down to 20.0Mt), although grades have improved, as shown in Table 9. However, tighter constraints for the Measured classification (December 2019 required 8 samples within 4 octants while November 2020 required 4 quadrants each populated by two samples) saw the transfer of material from Measured to Indicated. Importantly the Resource in the proposed first six years of mining based on the June 2020 Pre-Feasibility study is classified as Measured. The increase in Inferred material 5.3Mt to 14.7Mt reflects the new zones of halloysite kaolin identified in the June 2020 broad spaced drilling to south east of the December 2019 Resource estimate. The December 2019 Resource estimate used 4m composite assays whereas the November 2020 Resource estimate used straight samples weighted by length. The use of straight samples was chosen to minimize vertical smearing as sample lengths within the drillhole database range between 1m to 5m (sample length/percentage 1m 8.4%, 2m 17.9%, 3m 26.1%, 4m 25.2% and 5m 22.3%) while the parent block height used is 5m. Density measurements for the December 2019 Resource estimate were derived from the 2018 auger drilling program. The density measurements for the November 2020 Resource estimate utilised data from seven diamond drillholes cored in late 2019 and early 2020. The dry bulk density (DBD) measurements for both programs were calculated by the same process a modified Archimedes - oven dried, weighed, weighed vacuum sealed in plastic submerged in water (with known buoyancy). An average density for the saprolite of 1.44t/m3 was used for the December 2019 estimate. The density data from the diamond drill core gave an average density of 1.46t/m3 for the upper saprolite and 1.67t/m3 for the lower saprolite.
Is New 90 Day High Low • Nov 13New 90-day high: AU$0.24The company is up 380% 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 13Insider recently bought AU$251k worth of stockOn 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.
お知らせ • Oct 05Andromeda Metals Limited Announces Commencement of Drilling At Wudinna Gold ProjectAndromeda Metals has been advised by Wudinna Gold Project Joint Venture partner Cobra Resources PLC (Cobra) that drilling has commenced in relation to a substantial RC drilling program at a number of identified targets across the Project. Cobra is planning to complete 3 field exploration programs from late September through until December 2020, which will include up to 45 RC drill holes for up to 6,750 metres of drilling at Baggy Green, Baggy Green North, Clarke, Laker, Barns and Larwood prospects. The first of these programs is a 3,750 metre RC drilling program for up to 25 holes to be undertaken at Baggy Green, Baggy Green North, Laker and Clarke which is now underway. Program 2, comprising the collection of approximately 150 auger geochemical samples at the Larwood prospect, is planned to commence in November 2020 once cropping activities in the area are complete. Program 3 currently is designed to comprise a 20 RC drill holes for approximately 3,000 metres at Barns and Larwood. Cobra have stated that their prime objective for the extensive exploration program is to define the orientation and extensions of mineralisation at a number of the identified prospects across the Wudinna Gold Project with the strategic aim of building towards an initial target of 1 million ounces of gold resource. Currently a Mineral Resource of 4.43 million tonnes at 1.5g/t gold for 211,000 ounces has been reported at the Barns, White Tank and Baggy Green deposits which comprises 4.02 million tonnes at 1.5g/t gold for 193,000 ounces of Inferred Resource and 0.41 million tonnes at 1.4g/t for 18,000 ounces of Indicated Resource. Completion of this exploration program would see Cobra meet the Stage 1 expenditure commitment under the joint venture agreement by the agreed extended date of 31 December 2020, and result in Cobra acquiring a 50% equity interest in the Project. Wudinna Gold Farm-in and Joint Venture: The principal terms of the Wudinna Gold Farm-in and Joint Venture which was executed on 31 October 2017 between ADN and Cobra include: Cobra will sole fund $2.1 million within 3 years of execution to earn a 50% equity position (Stage 1 earn- in). Both joint venture partners have agreed to extend this to 31 December 2020; At the end of Stage 1, a joint venture can be formed, or alternatively Cobra can spend a further $1.65 million over a further two years (total funding of $3.75 million over 5 years) to earn a 65% equity interest (Stage 2 earn-in). · At the end of Stage 2, a joint venture can be formed, or alternatively Cobra can spend a further $1.25 million over a further 12 months (total funding of $5.0 million over 6 years) to earn a 75% equity interest (Stage 3 earn-in); Once a joint venture is formed, the parties will contribute to further expenditure in accordance with their respective equity, or dilute using a standard dilution procedure; Should a party's equity fall below 5%, its equity will be compulsorily acquired by the other party at a price to be negotiated in good faith, or failing agreement, at a price determined by an independent valuer; Cobra must meet the requisite statutory expenditure requirements to keep the project tenements in good standing; Cobra will act as manager during the farm-in and thereafter while ever it holds at least 50% equity. Deposit Descriptions: The Eyre Peninsula Gold Joint Venture comprises a 1,928 km2 land holding in the Gawler Craton. The Wudinna Gold Camp within the Joint Venture tenement holding comprises a cluster of gold prospects which includes the Barns, White Tank and Baggy Green deposits. The Central Gawler Gold Province is a belt of gold-dominant mineralisation which formed approximately 1590 million years ago during the regionally extensive Hiltaba/GRV tectonothermal event. Gold mineralisation at the Barns, White Tank and Baggy Green deposits is hosted by variably deformed granodiorite/gneiss interpreted to belong to the Tunkillia Suite, a group of 1690Ma granitiods that form important host rocks in the Central Gawler Gold Province. Interpreted mineralisation at Barns extends over an area of 400 mN by 250 mE and is up to 200 metres deep. Two lodes of flati-lying supergene mineralisation and 12 lodes of shallow dipping, fresh mineralisation have been interpreted. At White Tank, the interpreted mineralisation extends for 250 mN by 150 mE and is up to 120 metres deep. One lode of flat-lying mineralisation and two shallow dipping lodes of mineralisation within fresh material have been interpreted. The Baggy Green Resource has two areas of mineralisation: within the south the interpreted mineralization extends over an area of 200 mN by 400 mE and in the north it extends over an area of 150 mN by 300 mE. One lode of flat-lying supergene mineralisation and 13 shallow dipping lodes of mineralisation have been interpreted within the fresh material to a depth of 200 metres.
お知らせ • Oct 03Andromeda Metals Limited Announces Mineral Resource for Hammerhead Halloysite-Kaolin DepositAndromeda Metals Limited report the inaugural Hammerhead Mineral Resource Estimate reported in accordance with the 2012 JORC Code and Guidelines. The Hammerhead Deposit is located on exploration licence EL 5814 and lies 5kms to the north of the Great White Deposit on the Eyre Peninsula of South Australia and is part of the Great White Kaolin Joint Venture with Minotaur Exploration Limited under which ADN is currently earning a 75% interest. The Company has now received the remaining XRD results for the May 2020 drilling program. An Inferred Resource Estimate for the Hammerhead Deposit of 51.5Mt of kaolinised granite reported at an ISO brightness (R457) cut-off of 75 in the minus 45-micron size fraction. The Resource includes a halloysite rich sub-domain and remains open to the east, south and northwest. The Resource yields 27.1Mt of High Bright kaolin product (R457 >80 <84) in the minus 45-micron recovered fraction, with the remaining approximate 47.4% of material being largely residual quartz derived from the weathered granite. The Halloysite sub domain contains 4.7Mt of minus 45-micron material comprised of 21.6% halloysite with an ISO B of 82.9. Significantly, some areas within the Hammerhead Deposit show high levels of halloysite (>20%) that is similar to the existing resource reported at the Great White Kaolin Deposit. ADN and MEP have completed 112 rotary air blast (RAB) aircore drilling holes (4,942.4 metres) and 2 diamond holes (99.1m) used for geotech and density measurements only. All 114 drillholes were drilled vertically to intersect the flat-lying mineralisation at right angles with most holes intersecting the upper (hanging wall) and lower (footwall) contacts to the mineralisation. ADN's composited samples were wet sieved at Bureau Veritas in Adelaide to determine percentage passing -45µm, with the recovered material then analysed by Bureau Veritas using their XRF 4B method to determine elements that include Al2O3, Fe2O3, SiO2 and TiO2. Brightness on the minus 45-micron material was determined by ADN staff at an enclosed laboratory room at Bureau Veritas using the Company's Technidyne Colourtouch CT-PC Spectrophotometer in accordance with Tappi standard T534 om-15. Analysis for halloysite and kaolinite content was undertaken by CSIRO on all samples. This data was used to define a flat-lying kaolin deposit that lies between 7 and 62m below the surface. The Resource Estimate covers an area of approximately 1.0km E-W by 2.9km N-S with a kaolin thickness ranging from 2m to 32m and the thickest part of the deposit open to the south/south west. A plan view of the geological interpretation for the kaolin body is shown in Figures 2 and 3 and structure contours of the top of the kaolin mineralization showing the thickness of the kaolin is shown in Figure 3. Overburden which has an average thickness of 23.6m consists of a thin soil layer which overlies a mixed sequence of alluvial clays, sands and gravels. On rare occasions the top of the kaolin is silicified and the base of silicification marks the top of the kaolin resource whilst the change in weathering intensity marks the base of the kaolin resource. The drilling and sampling procedures and analytical methods implemented by ADN were the same used for the Great White Kaolin Deposit at Poochera which had been reviewed by H&S Consultants and assessed as having no obvious issues with the sampling or analysis of the data. Composite intervals were extracted from the drillhole database constrained by the kaolin wireframes. Grade interpolation of the kaolinite and halloysite was completed for the minus 45 micron recovered material, along with Al2O3, Fe2O3, SiO2, TiO2 and R457 all obtained on the minus 45-micron fraction. Statistical analysis of the composite data was undertaken and showed reasonably well-structured data with low coefficients of variation, all of which resulted in no top cuts being applied. Variography showed that current drillhole spacings are insufficient to support Indicated or Measured classification. Inverse distance squared (ID2) was chosen as the most appropriate method for the grade interpolation. Maptek's Vulcan software was used for modelling and the grade interpolation which used a single flat lying search domain of 300m by 200m by 5m (long axis orientated to 145 degrees) to reflect the overall consistency in strike and dip of the mineralisation. Block size was 50m by 50m by 5m (X, Y & Z), with 10m by 10m by 1m sub-blocking. Two wireframes were used to define the upper and lower saprolite within the mineralised zone. Other wireframes were used to map out geological boundaries above the mineralised zone but these have no impact on the resource. Block model validation consisted of a visual comparison of block grades with drillhole assays and composite values and a review of the summary statistics for the block grades and composite values. An example of block grade comparison to drillhole assays is shown in Figure 4. No significant issues were noted. Density measurements for the deposit were calculated from drill core using a modified Archimedes method with the drill core sealed prior to submersion. An average dry bulk density of 1.39t/m3 was assigned to the upper saprolite and a density of 1.52 t/m3 lower saprolite. Future work to upgrade the resource estimation category will require additional drilling to reduce the drillhole spacings, obtain more samples for dry bulk density determinations and undertake hydrogeological studies.
Reported Earnings • Oct 02Full year earnings released - AU$0.0024 loss per shareOver the last 12 months the company has reported total losses of AU$3.45m, with losses widening by 208% from the prior year.
