Andrada Mining (ATM) Investor presentation summary

Strategic and operational highlights

• Rebranding and management expansion occurred in early 2023, with a focus on strategic growth and board expertise.

• Significant exploration success included lithium resource upgrades and high-grade discoveries at Spodumene Hill and Lithium Ridge.

• Production improvements included enhanced output, efficiency, and safety, plus the launch of a lithium pilot plant and tantalum separation circuit.

• Renewed key supply agreements for tin and tantalum, and secured major funding from multiple sources.

• Released a second sustainability report and maintained strong ESG commitments.

Financial performance and cost management

• Revenue rose 87% year-on-year to GBP 8.7 million, driven by a 58% increase in contained tin sold.

• Gross profit improved to GBP 1.5 million from a loss of GBP 1 million, with a 19% decrease in cost of sales per tonne.

• Operating loss reduced by 30% to GBP 2.5 million, and loss before tax narrowed to GBP 2.8 million.

• Average operating cash costs and all-in sustaining costs remained within management guidance.

• Net loss remained flat at GBP 2.78 million, with basic loss per share reduced to 0.18 pence.

Asset base and funding

• Total assets increased by 7% to GBP 50.7 million, reflecting investments in inventory and equipment for lithium and tantalum projects.

• Equity remained stable, while total liabilities rose 7% due to increased payables and new borrowings.

• Secured USD 40 million in funding, including convertible loan notes, a Development Bank of Namibia facility, and Orion Mining Finance.

• Cash position at the end of the period was GBP 6.9 million, with significant capital expenditure on exploration and plant upgrades.