ATM Andrada Mining, a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, has successfully completed a private placement with strategic investors. The company has raised $11 million (£8.1 million) before expenses through a placing of 226,337,448 ordinary shares in the company at a price of 3.6 pence per share. Zeus Capital and H&P Advisory (Hannam) were joint-bookrunners (for the Fundraising).
Anthony Viljoen, Chief Executive Officer, commented:
“The completion of this placement with some key strategic investors, comes at a pivotal juncture for Andrada. The funding allows the Company to scale up operations and advance various growth initiatives, whilst deriving maximum benefit from the high commodity price environment. Importantly, this fundraise completes the current equity financial requirements for the Group. This funding, along with current tin prices and production provides the pathway for the Company to complete its expansion programme at Uis, with the exploration programmes at Lithium Ridge and Brandberg West already funded by strategic partners SQM and BWCAM.”
USE OF PROCEEDS
The financing comes at a well-timed inflection point for the Company. The goal is to rapidly scale production capacity by enhancing exposure to strong critical minerals prices, strengthening institutional backing, and accelerating cash flow. Specifically, the proceeds of the fundraise will be used to accelerate production growth at the Uis operation by funding key operational upgrades and expansion initiatives, including the installation of additional crushing capacity to increase throughput, accelerated stripping activities to access ore more quickly, and updates to resource and reserve estimates.
Admission
Application has been made to the London Stock Exchange for the 226,337,448 Fundraising Shares to be admitted to trading on AIM. It is expected that Admission will take place and dealings in the Fundraising Shares will commence at 8.00 a.m. BST on 23 April 2026. The Fundraising Shares, when issued, will be fully paid and will rank pari passu in all respects with the existing ordinary shares of the Company in issue, including the right to receive all dividends and other distributions declared, made or paid after the date of issue.