Price Target Changed • Jun 05
Price target decreased by 12% to UK£0.15 Down from UK£0.17, the current price target is an average from 2 analysts. New target price is 305% above last closing price of UK£0.037. Stock is up 40% over the past year. The company is forecast to post a net loss per share of UK£0.0014 next year compared to a net loss per share of UK£0.006 last year. Board Change • Jun 01
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 1 experienced director. 3 highly experienced directors. Independent Non-Executive Director Gida Nakazibwe-Sekandi was the last director to join the board, commencing their role in 2023. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • May 06
Andrada Mining Limited Announces Second Batch of Lithium Ridge Drill Results Andrada Mining Limited announced a second batch of diamond drilling results from Lithium Ridge which continue to confirm the presence of consistent high-grade lithium mineralisation from surface to depth. These results further strengthen confidence in the scale and continuity of the mineralised system, while also confirming the presence of associated tin and tantalum mineralisation. High-grade lithium mineralisation confirmed across multiple drill holes, including: Drill hole LRD031: 21.33m @ 1.24% Li2O from 146.18m to 167.51m. Including 7.20m @ 1.99% Li2O from 154.61m to 161.81m. Drill hole LRD025: 16.24m @ 1.04% Li2O from 0.87m to 17.11m. Including 8.86m @ 1.63% Li2O from 7.92m to 16.78m. Drill hole LRD022: 10.87m @ 1.38% Li2O from 25.68m to 36.55m. Including 7.35m @ 1.68% Li2O from 27.68m to 35.03m. Drill hole LRD017: 5.88m @ 1.50% Li2O from 76.50m to 82.38m. including 3.00m @ 1.94% Li2O from 76.50m to 79.50m. Tin and tantalum upside: associated credits in tin (Sn) and tantalum (Ta) mineralisation confirmed in all reported holes. The results refer to an additional seven drill holes and are reported as 'Whole intersections' in Table 1, representing pegmatite intersections from the top to the bottom contact. Where these intersections contain schistose xenoliths, the reported grades reflect the metal content of the pegmatite only, excluding the schistose intervals. Intersections reported as "Including" represent selected higher-grade zones within the total pegmatite intersection. Spodumene has been visually identified as the primary lithium-bearing mineral by the geological team on site. Tin and tantalum grades have also been highlighted, as these minerals confirm the fertility of lithium-bearing pegmatites at Lithium Ridge and may provide potential by-product value. All the holes were drilled at inclined angles to the horizontal and, accordingly, the reported intersections are considered to represent apparent widths rather than true thicknesses. Pegmatite intersections that do not meet at least one of the following metal content cut-off criteria (>0.25% Li2O, >0.1% Sn or >99ppm Ta) have not been reported as they are currently considered as having no economic significance. Two pegmatites were sampled from drill hole LRD033, however the grades reported did not meet the cut off criteria. Downhole orientation surveys were conducted at regular intervals for each hole while the hole was advancing and, further surveyed in totality after drilling was completed. The surveys were conducted using a magnetic deviation probe that collected readings at two metre intervals, and collar locations were surveyed using a handheld GPS. Each drill hole was geologically and structurally logged prior to being cut and sampled as quarter core. The sampling programme attempted to follow geological contacts while also maintaining consistency in data representativity. Sampling was undertaken with reference to geological contacts while maintaining consistency in sample representativity. Sample lengths ranged from a minimum of 25 cm to a maximum of 125 cm, where practicable. The samples were submitted to SA Labs Ithuba for pulverisation and homogenisation, and the pulps subsequently dispatched to UIS Analytical Services for chemical analysis. Both laboratories are independent and certified. Lithium and other major elements were analysed using sodium peroxide fusion with ICP-OES, while tin, tantalum and other trace elements were analysed using lithium borate fusion with ICP-MS. No top cut was applied in calculating the weighted average grades for mineralised intersections within the pegmatites. The Stage 1 drill programme has been expanded to approximately 16,500 metres of orientated diamond core drilling across the license area and extended by an additional three months to further define the depth and continuity extents of the mineralised pegmatites identified at surface. Table 1: Results of the intersected mineralised pegmatites with the intersection depths, lengths and grades reported. Intersections described as 'Including' refer to a portion of the whole pegmatite intersection with significant metal values. The reported intersections are indicative of apparent thickness, which is greater than true thickness. 
