Actualización operativa: sustitución
ENMIENDA DE FORMATO
The 'Operational update for the period ended 29 February 2024' announcement released on 27 March 2024 at 07:00 am under RNS No 4830I has been reformatted.
Todos los detalles materiales permanecen sin cambios.
El texto completo se muestra a continuación.
La Compañía considera que la información contenida en este anuncio constituye información privilegiada según lo estipulado en las Regulaciones de Abuso de Mercado (UE) No. 596/2014 (MAR) vigentes en el Reino Unido de conformidad con la Ley de (Retiro) de la Unión Europea 2018 A partir de la publicación de este anuncio a través del Servicio de Información Regulatoria (RIS), esta información privilegiada será de dominio público.
Minería Andrada Limitada
("Andrada" o la "Compañía")
Operational update for the period ended 29 February 2024.
54% increase in tin concentrate production to 1 474 tonnes.
Minería Andrada Limitada (OBJETIVO: cajero automático, OTCQB: ATMTF), the African technology metals mining company with a portfolio of mining and exploration assets in Namibia, hereby provides an unaudited operational update for the 12 months ended 29 February 2024 ("FY2024").
DESTACADOS
Operaciones
§ 60% año con año ("Anual") increase in ore processed to 915 599 tonnes (FY2023: 573 818 tonnes).
§ 54% YoY increase in tin concentrate production to 1 474 tonnes (FY2023: 960 tonnes).
§ 51% YoY increase in contained tin production to 885 tonnes (FY2023: 587 tonnes).
§ Plant availability increased to 91% in FY2024 (FY2023: 87%).
§ Tin recovery increased to 72% in FY2024 (FY2023: 69%).
§ Production of five tonnes of saleable tantalum concentrate.
§ Production of 40 tonnes saleable lithium concentrate.
Finanzas
§ Average C1¹ operating cash cost compared to management guidance of between USD 17 000 and USD 20 000 per tonne of contained tin:
- FY2024 at USD 17 640 was within guidance.
- 14% decrease in C1 costs quarter-on-quarter ("QoQ").
§ Average C2² operating cash cost compared to management guidance of between USD 20 000 and USD 25 000 per tonne of contained tin:
- FY2024 at USD 20 173 was within guidance.
- 12% decrease in C2 QoQ.
§ Costo de mantenimiento integral ("AISC") compared to management guidance of between USD 25 000 and USD 30 000 per tonne of contained tin:
- FY2024 at USD 26 223 was within guidance.
- 13% decrease in AISC QoQ.
§ The Company will provide updated guidance in the Q1FY2025 operational update.
§ Unaudited cash balance on 29 February 2024 of GBP 17.5 million (USD 22.2 million).
Proceso Estratégico
§ Indicative, non-binding offers received for a partnership interest at the project level.
§ Discussions with potential partners are progressing well.
Anthony Viljoen, director ejecutivo, comentó:
"It pleases me that the strategic operational initiatives that we embarked on have been successful and yielded the further double-digit percentage increases in production tonnage at our operations that we are presenting today. Although the higher stripping resulted in an increase in the AISC during the year, the exposure of the orebody's grade, diversity of minerals including lithium, and scale at depth according to our geological model, will start to become glaringly apparent placing the operations in a robust position to capitalise on the rebound in the commodities markets for all our products."
Revisión OPERACIONAL
Table 1: Uis Mine unaudited TIN production and cost performance
Descripción | Unidad | Q1 FY2024 | Q2 FY2024 | Q3 FY2024 | Q4 FY2024 | FY 2024 | FY 2023 | FY 2024 / FY 2023 %? | AF 2024 Q4 /Q3 % ? |
Grado de alimentación | %Sn | 0.151 | 0.161 | 0.141 | 0.137 | 0.148 | 0.148 | 0% | - 3% |
Tasa de procesamiento de la planta | toneladas por hora | 135 | 138 | 138 | 137 | 137 | 106 | 29% | - 1% |
Mineral procesado | toneladas | 217 189 | 232 154 | 228 234 | 238 022 | 915 599 | 573 818 | 60% | 4% |
Concentrado de estaño | toneladas | 359 | 398 | 346 | 371 | 1 474 | 960 | 54% | 7% |
Estaño contenido | toneladas | 216 | 238 | 202 | 231 | 885 | 587 | 51% | 14% |
Recuperación de estaño* | % | 70 | 67 | 66 | 72 | 69 | 68 | 1% | 9% |
Disponibilidad de plantas | % | 91 | 92 | 89 | 89 | 91 | 87 | 5% | 0% |
Utilización de la planta | % | 79 | 83 | 86 | 89 | 84 | 66 | 27% | 4% |
Uis mina C1 costo operativo¹ | USD/t de estaño contenido | 15 741 | 19 560 | 18 917 | 16 273 | 17 640 | 19 762 | - 11% | - 14% |
Uis mina C2 costo operativo² | USD/t de estaño contenido | 18 235 | 22 252 | 21 386 | 18 775 | 20 173 | 22 287 | - 9% | - 12% |
Uis mine AISC³ | USD/t de estaño contenido | 21 377 | 26 671 | 30 452 | 26 616 | 26 223 | 24 939 | 5% | - 13% |
Precio del estaño alcanzado | USD/t de estaño contenido | 25 149 | 25 183 | 24 749 | 26 125 | 25 593 | 25 051 | 2% | 6% |
C1¹ refers to operating cash cost per unit of production excluding selling expenses and sostener el gasto de capital asociado con la mina Uis.
C2² operating cash cost is C1 plus selling expenses including logistics, smelting and royalties.
All-in sustaining cost³ incorporates all costs related to sustaining production; capital expenditure associated with developing and maintaining the Uis operation as well as pre-stripping waste mining costs.
*Tin recovery includes stockpiles.
TIN
Revisión de desempeño
Ore processed increased by 60% to 915 599 tonnes and the plant processing rate increased by 29% YoY to 137tph, all due to the plant expansion in FY2023 and the preliminary impact of the Continuous Improvement 2 programme ("CI2"). Annual tin concentrate production increased by 54% to 1 474 tonnes (FY2023: 960 tonnes) resulting in a 51% increase in contained tin to 885 tonnes (FY2023: 587 tonnes) Año tras año.
Contained tin tonnage produced in Q4 increased by 14%, a higher rate than the 7% increase in tin concentrate, due to tantalum concentrate separation. The extraction of tantalum resulted in an increase in tin concentrate grade by 16% between December 2023 and February 2024.
Production expansion plan
The Company is implementing a production expansion project at the existing tin processing plant to 2 600 tpa (or 1 600 tpa of tin metal) in line with the Orion tin royalty requirements. The production expansion will be facilitated through the installation of a pre-concentration circuit that incorporates ore-sorters.
The net effect of the ore-sorters is expected to be an increase of approximately 50% in the tin content to the wet processing plant. The CI2 will augment the pre-concentration circuit, enabling plant production to reach the targeted run-rate by April 2025. Commissioning of the pre-concentration circuit is planned for the first quarter of 2025. This expansion is anticipated to increase revenue by up to 75% and to reduce the AISC. (See announcement dated 12 March 2024).
Tántalo
Optimisation of the circuit has been completed, and 7.4 tonnes of tantalum concentrate were produced during Q4. The current concentrate production rate is 48tpa and is expected to increase to approximately 83tpa after implementation of the ore-sorting facility. The Company is on track to supply tantalum to AfriMet on a quarterly basis, commencing March 2024. The revenue from the tantalum concentrate is anticipated to increase total group revenue by between 3% and 5%. (See announcement dated 12 March 2024).
LITIO
Planta Piloto de Litio
Approximately 40 tonnes of saleable, technical-grade lithium concentrate was produced and stockpiled by the end of the reporting period. The production rate is expected to increase to 100 tonnes per month by the end of March 2024. Internal test work confirms that this technical-grade material meets the specifications for the glass-ceramics market, and Andrada is exploring additional offtake agreements with both industrial and battery chemical markets.
Financiero
All unit costs were at the lower level of management guidance for the full year. Furthermore, all the costs decreased by double digit percentage points in Q4 due to higher tonnages and enhanced efficiencies as the Company implements the CI2 programme. AISC declined from USD30 452 per tonne in Q3 to USD26 616 in Q4, mainly due to the decrease in the stripping ratio from 4.51 at the end of November 2023 to 3.21 at the end of February 2024. The unaudited cash balance on 29 February 2024 was GBP 17.5million (USD 22.2 million).
STRATEGIC PROCESS
Since the launch of the Strategic Process to identify an appropriate partner for the lithium development, leading international organisations within the lithium value chain have visited the Company's assets in Namibia, have conducted mineralogical test work, and have implemented detailed due diligence. Andrada has narrowed down the various non-binding indicative offers that have been received to date and discussions are ongoing with the objective of progressing to final binding bids.
The Company is encouraged by the keen interest that has been shown and will work expeditiously to make a value-accretive decision for its shareholders. The Company will keep the market updated as matters progress.
Glosario de abreviaturas
AISC | All In Sustaining Cost |
CY | Año calendario para los 12 meses que terminan en diciembre |
CI2 | Continuous Improvement 2 programme |
FY | Ejercicio financiero correspondiente a los 12 meses que finalizan en marzo. |
GBP | Libra esterlina británica |
NAD | Dolar namibiano |
Q3 | Third quarter ending November |
Q4 | Fourth quarter ending February |
USD | dólar de los Estados Unidos |
CONTACTO | |
ANDRADA MINERÍA LIMITADA | |
Anthony Viljoen, director ejecutivo Sakhile Ndlovu, Relaciones con inversores | +27 (11) 268 6555 |
| |
ASESOR NOMINADO | |
WH Irlanda limitada katy mitchell | +44 0 207 220 1666 |
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CORPORATIVO BROKER & ASESOR | |
H&P Advisory Limited andres chub jay ashfield Matt Hasson | +44 0 20 7907 8500 |
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Berenberg Jennifer Lee Natasha Ninkov | +44 0 20 3753 3040 |
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Mercados de capitales WHI harry ansell | +44 0 20 7220 1670 |
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RELACIONES PÚBLICAS FINANCIERAS | |
Tavistock (Reino Unido) José Simson catalina drummond adam baynes | +44 0 207 920 3150 |
Acerca de Andrada Mining Limited
Andrada Mining Limited, anteriormente Afritin Mining Limited, es una empresa minera de metales tecnológicos que cotiza en bolsa en Londres y tiene la visión de crear una cartera de activos de exploración y producción libres de conflictos y de importancia mundial. El principal activo de la empresa es la mina Uis en Namibia, anteriormente la mina de estaño a cielo abierto de roca dura más grande del mundo.
Una perforación de exploración programa cultural, social y deportivo. Actualmente está en marcha con el objetivo de ampliar el recurso de estaño a las catorce pegmatitas adicionales históricamente extraídas que se encuentran dentro de un radio de 5 km de la planta de procesamiento actual. La Compañía ha fijado un objetivo de recursos minerales de 200 Mt que se definirá dentro de los próximos 5 años. La mina existente, junto con su importante potencial de recursos minerales, permite a la Compañía considerar economías de escala.
Andrada is managed by a board of directors with broad industry knowledge and a management team with extensive commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by the way the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system that has been implemented at all levels of the Company and aligns with international standards.
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