Andromeda Metals Limited ( (AU:ADN) ) has issued an update.
Andromeda Metals Limited has made significant progress in advancing the Great White Project and securing funding for its initial Stage 1A+ development. The company has entered exclusive negotiations with Merricks Capital for a debt financing facility of up to A$75 million, and has also received a $2.34 million tax refund related to research and development activities. Operational readiness and procurement of long lead items are underway, and drilling has commenced at the Chairlift Deposit to explore potential extensions. These developments position Andromeda favorably for a final investment decision, with binding offtake agreements in place to support the project’s commercial viability.
More about Andromeda Metals Limited
Andromeda Metals Limited is a company operating in the mining industry, focusing on the development and production of industrial minerals. The company’s primary project is the Great White Project, which involves the extraction and processing of high-quality kaolin products for use in ceramic applications.
Average Trading Volume: 4,178,632
Technical Sentiment Signal: Buy
Current Market Cap: A$32.55M
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