USD 25 millones recibidos de OMF
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")
USD 25 million proceeds received from Orion Mine Finance (OMF)
Emisión de equidad
Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF), the metals and mining company with a portfolio of technology metals mining and exploration assets in Namibia, announces the receipt of USD 25 million and associated issue of shares, convertible loan notes and warrants as part of the Funding Package announced on 15 August 2023, with funds advised by Orion Resource Partners ("Orion").
DESTACADOS
· The combined USD 25 million Funding Package comprises a USD12.5 million (c. GBP 10.2 million) unsecured tin royalty, a USD 2.5 million (c. GBP 1.95million) equity subscription for 30 505 755 ordinary shares, and a USD 10 million (c. GBP 8.2 million) unsecured convertible loan note (the "Note").
- In addition, Andrada will issue to OMF III (Mauritius) LTD ("OMF LTD") garantiza (las "Ordenes") to acquire ordinary shares in Andrada at an exercise price of 9.45p.
· USD 12.5 million (from the royalty) is allocated to increasing tin production at the Company's flagship Uis Mine in Namibia ("Uis Mine").
- The royalty funding, coupled with the ongoing continuous improvement programme ("CI2"), is targeted to achieve production rates up to 2 000 tonnes of tin metal per annum ("tpa").
· The balance of USD 12.5 million net of costs is expected to accelerate the lithium and tantalum revenue streams following the drilling results and milestones achieved in the current calendar year from January 2023, including:
- Expansion of the resource at Uis and exploration drilling across all licences.
- Metallurgical testing campaigns at the recently-commissioned pilot facility and laboratory on-site.
- Various studies to expedite the feasibility of additional revenue streams across the Company's entire geological footprint.
Anthony Viljoen, director ejecutivo, comentó:
"We are pleased to announce drawdown of the Orion funding, following the fulfilment of all conditions. This partnership with Orion will not only enable the expansion of tin production up to 2 000 tpa, but will also allow us to accelerate our wider lithium and tin development surrounding our Uis mine . The exceptional results achieved across all exploration drilling campaigns this year indicate that Andrada has the potential to generate additional revenue streams from multiple sites. We are pleased to have Orion, a globally respected resource funding partner, onboard to support our planned growth period."
UPDATE ON THE ORION FUNDING package
Realeza
The Company's subsidiary, Uis Tin Mining Company (Properitary) Limited has now received a USD12.5 million payment from OMF Fund III (F) Ltd in exchange for a royalty over tin production at the Company's Uis Mine, for staggered rates starting at 5.13%. An annualised contained tin production between 1 600 tpa to 2 000 tpa will decrease the rate to between 4.50% and 3.61% as determined by interpolating on a linear basis. Ultimately the rate will reduce to 0.86% with the achievement of certain milestones based on tonnage. Further details of the royalty terms are set out in the announcement dated 15 August 2023.
The CI2 at the Uis Mine financed through the Development Bank of Namibia commenced in September 2023 to enhance the plant's productivity and output. The targeted increase in the tin recovery rate to 69% through the CI2 will contribute to Andrada achieving the requisite thresholds of concentrate tonnages (see announcement dated 5 September 2023).
Suscripción de capital
The Company has today issued OMF Ltd with 30 505 755 ordinary shares in the Company (the "Subscription Shares") , at a price of 6.39p (the "Subscription Price"), for a total investment of USD 2.5 million (c. GBP 1.95 million). The number of shares issued is slightly lower than previously announced due to exchange rate fluctuations. Following the issuance of the Subscription Shares, OMF LTD's equity interest in the Company will be 30 505 755 Ordinary Shares representing 1.96% of the issued share capital of the Company. Application has been made for the admission of the Subscription Shares to trading on AIM, and it is anticipated that admission will occur and trading will commence on or around 22 November 2023 ("Admisión").
Nota de préstamo convertible
Andrada has drawn down USD 10 million (c. GBP 8.2 million) from OMF Limited, which was provided to Andrada by way of an unsecured Note which accrues interest at 12% per annum. The Note has a four-year term from the date the Subscription Shares commence trading on AIM (anticipated to be 22 November 2023). Full details of the Convertible Loan Notes are set out in the announcement of 15 August 2023.
Warrants
On or around 22 November 2023, Andrada will issue a number of warrants to OMF Ltd, pursuant to the terms of the Funding Package. The number of warrants to be issued is based on two warrants for every equivalent pound sterling in relation to the USD 10 million Convertible Loan Note instrument. The exact sterling value of the warrant package will be determined by reference to the USD/GBP exchange rate at market close on the date that the Subscription Shares commence trading on AIM. The Company will issue warrants to ordinary shares at an exercise price of 9.45p. The Warrants are exercisable at any time from the date of issue for a period of two years.
USO DE PROCEDIMIENTOS
As set out above, the funding from the royalty will be used to increase tin production at the Company's Uis Tin Mine.
The funding from the Subscription Shares and Convertible Loan Notes will be utilised for further exploration drilling programmes which are important in determining the extent of the lithium mineralisation within the Uis, Lithium Ridge and Spodumene Hill mining licence areas. It will also be utilised for metallurgical testwork to gain an understanding of the elemental configuration of the large number of pegmatites across the region (see announcements dated: 6 July, 29 August, 6 September, and 18 September all in 2023). The tantalum production circuit optimisation is on-going to achieve the specifications required by AfriMet as stipulated in the off-take agreement (see announcement dated 15 November 2023). Nominal funding is required to complete the optimisation.
Disclosure, Guidance and Transparency Rules
De conformidad con las disposiciones de las Reglas de Orientación y Transparencia de Divulgación (DTR) de la Autoridad de Conducta Financiera, la Compañía confirma que, al momento de la Admisión, su capital social emitido comprenderá 1 580 250 758 Acciones Ordinarias sin valor nominal. Todas las Acciones Ordinarias de la Compañía tienen los mismos derechos de voto y ninguna de las Acciones Ordinarias se mantiene en tesorería. El número total de derechos de voto en la Sociedad será por tanto de 1 580 250 758 a partir de la Admisión. Esta cifra total de derechos de voto puede ser utilizada por los accionistas como denominador en los cálculos para determinar si están obligados a notificar sus intereses o un cambio en su interés en Andrada en virtud de los DTR.
CONTACTO | |
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Minería Andrada Limitada Anthony Viljoen, director ejecutivo Sakhile Ndlovu, Relaciones con inversores | +27 (11) 268 6555
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Asesor Nominado | |
WH Irlanda limitada katy mitchell | +44 0 207 220 1666 |
Asesor Corporativo y Conjunto Broker | |
H&P Advisory Limited andres chub jay ashfield Matt Hasson | +44 0 20 7907 8500 |
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Stifel Nicolaus Europa limitada Campo de clanes de Ashton Calum Stewart Varun Talwar | +44 0 20 7710 7600 |
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Tavistock Financial PR (Reino Unido) José Simson catalina drummond adam baynes | +44 0 207 920 3150 |
Acerca de Andrada Mining Limited
Andrada Mining Limited, es una empresa minera de metales tecnológicos que cotiza en Londres y tiene la visión de crear una cartera de activos de producción y exploración de importancia mundial y libres de conflictos. El activo emblemático de la Compañía 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 se está llevando a cabo en Uis con el objetivo de ampliar el recurso de estaño a las catorce pegmatitas adicionales históricamente extraídas, todas las cuales 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 a delinear 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 considerable industry knowledge and a management team with extensive commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations as demonstrated by the way the leadership team places 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. [FINAL]
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