Latest news with #AndromedaMetals
The Australian
26-06-2025
- Business
- The Australian
ADN finishes ceramic glaze pilot trials
Andromeda Metals completes commercial scale pilot plant trials for Great White CRMTM Results have validated Great White CRMTM as a high-quality kaolin product for use in industrial glaze formulations Andromeda says new sales opportunities have now opened up, supporting future expansion Special Report: The completion of commercial-scale pilot trials has validated the use of Andromeda Metals' Great White CRMTM in ceramic glaze formulations, proving it to be a reliable, high-performance material for the ceramics industry. The trials were carried out at a respected ceramic frit and glaze manufacturer in Alcora, Spain, using a pilot plant that closely mirrors real-world tile production. They were carefully supervised by the Institute of Ceramic Technology with support from Galesk Consultancy, and they assessed the use of Great White CRMTM in two key glaze formulation segments: A standard glaze composition to manufacture single-fired wall tiles with a glossy white opaque finish, with kaolin content of 8.3% by weight; and A matt 'smaltobbio' glaze composition for the manufacture of porcelain tiles, with a kaolin content of 22%. Ceramic frits and glazes are the glass coating on ceramics, applied for protection and aesthetics. For each glaze formulation, the trials also compared the results to glazes using the industry benchmark kaolin used by most ceramic glaze companies in Southern Europe. Some of the stand-out results from the trial include: Improvement in key glaze properties, such as adhesion, cohesion, and whiteness; Enhanced properties of glazed tiles, notably the adhesion and cohesion of the glaze layer before firing, ensuring greater stability and reduced risk of defects; and Demonstrating Great White CRM can be used in industrial-scale ceramic glaze production. New sales opportunities The findings confirm Great White CRM as a high-quality kaolin product, enhancing Andromeda Metals' (ASX:ADN) position as a key supplier. ADN's kaolin products have previously been certified by ceramics industry experts and customers for use in high-end ceramics, tableware and countertops. The company believes the validation of Great White CRMTM for frits and glazes at industrial scale opens new potential sales opportunities for Andromeda's kaolin. ADN acting CEO Sarah Clarke said the positive results can now be used to market the high-quality products from the Great White project for use in ceramic glaze formulations, expanding the range of uses and potential customers for Great White CRMTM. 'These positive results open up additional sales opportunities and support future potential expansion while the Company progresses finalising the binding financing documentation for a debt facility with Merricks Capital,' she said. Watch: Sarah Clarke joins Stockhead TV A step closer to FID Merricks Capital recently confirmed credit approval for a $75m debt facility to support development of the Great White kaolin project in South Australia, after examining the technical, financial, legal, market, environment and social aspects. Securing the debt facility marks a major step forward, bringing the company closer to locking in full funding for a final investment decision on Stage 1A+ of the Great White project. The $75 million debt facility includes principal, capitalised interest and fees, cash reserving requirements and a cost overrun tranche. ADN will have 78 months to repay the debt, starting after a 12-month grace period that kicks in once the project development is finished. This article was developed in collaboration with Andromeda Metals, a Stockhead advertiser at the time of publishing. This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.
Yahoo
06-06-2025
- Business
- Yahoo
Andromeda secures $48.7m funding for Great White project in South Australia
Merricks Capital has granted credit approval for a A$75m ($48.7m) debt facility to support the development of Andromeda Metals' Great White project in South Australia. The debt facility includes principal, capitalised interest, fees, cash reserving requirements and a cost overrun tranche. The tenor of the facility spans 78 months, with a 12-month grace period post-development completion before scheduled amortisation begins, culminating in a 50% bullet repayment at maturity. The Great White project boasts Tier 1 asset status in South Australia, with all key approvals for construction commencement in place. With a 28-year mine life, the project is expected to produce 330,000 tonnes per annum (tpa) of refined kaolin products. It has secured 100% offtake coverage for Stage 1A+ and completed a bankable feasibility study showing strong project economics. The project features various high-value deposits containing a naturally occurring blend of halloysite tubes and kaolinite plates. It is located within the District Council of Streaky Bay, near the community of Poochera on the Eyre Peninsula in South Australia. The credit approval follows Merricks Capital's extensive due diligence on the project's environmental, financial, legal, market, social and technical aspects. Andromeda Metals and Merricks Capital are now finalising the binding financing documentation, leading to execution and first drawdown. The completion of the financial close is contingent upon customary conditions precedent including securing the balance of funding necessary for a final investment decision for the project's Stage 1A+ development. The terms of the facility entail a comprehensive senior security package over the project's assets and rights, with the facility being drawn down in stages. Interest is payable on the amounts drawn, with an undrawn line fee on undrawn funds during the availability period. After the 12-month grace period, a fixed repayment schedule is set, with a 50% bullet payment at maturity. Merricks Capital will also be issued 400,000,000 equity warrants, subject to financial close and shareholder approvals, with an exercise price at a 10% premium to the price paid for any shares issued as part of the development funding. Andromeda Metals acting CEO Sarah Clarke said: 'Receiving confirmation from Merricks Capital that the proposed facility is credit approved, following extensive due diligence, represents a significant milestone in the financing of Stage 1A+ of the Great White Project. This outcome is a strong endorsement of the project's quality and a testament to the team's dedication, expertise and commitment to delivering an investment ready project. 'With this momentum, we continue to pursue the balance of funding opportunities to support a final investment decision, with due diligence continuing with a select number of capital providers.' In addition to the Great White project, Andromeda Metals acquired a 51% interest in the Eyre Kaolin joint venture in July 2024. "Andromeda secures $48.7m funding for Great White project in South Australia" was originally created and published by Mining Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site. Sign in to access your portfolio
Yahoo
21-05-2025
- Business
- Yahoo
Andromeda Metals Limited (ASX:ADN) Is Expected To Breakeven In The Near Future
With the business potentially at an important milestone, we thought we'd take a closer look at Andromeda Metals Limited's () future prospects. Andromeda Metals Limited operates as a mineral exploration company in Australia. With the latest financial year loss of AU$7.3m and a trailing-twelve-month loss of AU$5.4m, the AU$38m market-cap company alleviated its loss by moving closer towards its target of breakeven. As path to profitability is the topic on Andromeda Metals' investors mind, we've decided to gauge market sentiment. In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. According to some industry analysts covering Andromeda Metals, breakeven is near. They anticipate the company to incur a final loss in 2026, before generating positive profits of AU$34m in 2027. The company is therefore projected to breakeven around 2 years from today. What rate will the company have to grow year-on-year in order to breakeven on this date? Using a line of best fit, we calculated an average annual growth rate of 104%, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. Given this is a high-level overview, we won't go into details of Andromeda Metals' upcoming projects, but, bear in mind that by and large a metal and mining business has lumpy cash flows which are contingent on the natural resource mined and stage at which the company is operating. This means, large upcoming growth rates are not abnormal as the company is beginning to reap the benefits of earlier investments. See our latest analysis for Andromeda Metals Before we wrap up, there's one aspect worth mentioning. Andromeda Metals currently has no debt on its balance sheet, which is rare for a loss-making metals and mining company, which typically has high debt relative to its equity. This means that the company has been operating purely on its equity investment and has no debt burden. This aspect reduces the risk around investing in the loss-making company. This article is not intended to be a comprehensive analysis on Andromeda Metals, so if you are interested in understanding the company at a deeper level, take a look at Andromeda Metals' company page on Simply Wall St. We've also compiled a list of essential aspects you should look at: Historical Track Record: What has Andromeda Metals' performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Andromeda Metals' board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Yahoo
21-05-2025
- Business
- Yahoo
Andromeda Metals Limited (ASX:ADN) Is Expected To Breakeven In The Near Future
With the business potentially at an important milestone, we thought we'd take a closer look at Andromeda Metals Limited's () future prospects. Andromeda Metals Limited operates as a mineral exploration company in Australia. With the latest financial year loss of AU$7.3m and a trailing-twelve-month loss of AU$5.4m, the AU$38m market-cap company alleviated its loss by moving closer towards its target of breakeven. As path to profitability is the topic on Andromeda Metals' investors mind, we've decided to gauge market sentiment. In this article, we will touch on the expectations for the company's growth and when analysts expect it to become profitable. This technology could replace computers: discover the 20 stocks are working to make quantum computing a reality. According to some industry analysts covering Andromeda Metals, breakeven is near. They anticipate the company to incur a final loss in 2026, before generating positive profits of AU$34m in 2027. The company is therefore projected to breakeven around 2 years from today. What rate will the company have to grow year-on-year in order to breakeven on this date? Using a line of best fit, we calculated an average annual growth rate of 104%, which is extremely buoyant. If this rate turns out to be too aggressive, the company may become profitable much later than analysts predict. Given this is a high-level overview, we won't go into details of Andromeda Metals' upcoming projects, but, bear in mind that by and large a metal and mining business has lumpy cash flows which are contingent on the natural resource mined and stage at which the company is operating. This means, large upcoming growth rates are not abnormal as the company is beginning to reap the benefits of earlier investments. See our latest analysis for Andromeda Metals Before we wrap up, there's one aspect worth mentioning. Andromeda Metals currently has no debt on its balance sheet, which is rare for a loss-making metals and mining company, which typically has high debt relative to its equity. This means that the company has been operating purely on its equity investment and has no debt burden. This aspect reduces the risk around investing in the loss-making company. This article is not intended to be a comprehensive analysis on Andromeda Metals, so if you are interested in understanding the company at a deeper level, take a look at Andromeda Metals' company page on Simply Wall St. We've also compiled a list of essential aspects you should look at: Historical Track Record: What has Andromeda Metals' performance been like over the past? Go into more detail in the past track record analysis and take a look at the free visual representations of our analysis for more clarity. Management Team: An experienced management team on the helm increases our confidence in the business – take a look at who sits on Andromeda Metals' board and the CEO's background. Other High-Performing Stocks: Are there other stocks that provide better prospects with proven track records? Explore our free list of these great stocks here. Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
News.com.au
13-05-2025
- Business
- News.com.au
Why Andromeda is all fired up about its Great White kaolin project
Once overlooked, kaolin is now attracting serious market interest Andromeda's near-production Great White project is well positioned to address anticipated supply shortfalls once operational. We caught up with Miguel Galindo, an independent non-excutive director at Andromeda, to get his market outlook With demand climbing across global manufacturing hubs for luxury surfaces like sintered stone, ceramics and premium tableware, kaolin – a soft, naturally occurring industrial mineral – is quietly becoming a highly sought after commodity. Global kaolin production in 2023 was around 40–45 million tonnes, but only a small portion, under 5%, qualifies for use in high-performance ceramic applications. While demand for lower-grade kaolin remains stable, the momentum is in high-purity, high-brightness kaolin in key markets like Asia and Europe where advanced ceramics and engineered materials are on the rise thanks to growing consumer trends towards large-format tiles and countertops. Yet, declining reserves and rising geopolitical tensions are limiting the availability of high-quality supply, driving up prices and prompting manufacturers to become more selective in sourcing. Australia isn't typically considered a leading player in the kaolin market but with Andromeda Metals' (ASX:ADN) near-production Great White deposit, that could soon change. The company's project is backed by 15.1Mt in high-grade ore reserves and has customers lined up with 100% of the planned capacity for Stage1A+ by four binding off-take agreements. Lab work using kaolin from the project has also demonstrated the technical feasibility of producing HPA, validating the company's flow sheet design. More recently, investors demonstrated their confidence in Great White by backing a $5m share placement to help fund early works, advance plant design and engineering along with technical, financial and legal activities to support the funding process at the project. Stockhead sat down with Andromeda's independent non-executive director Miguel Galindo to get his take on the Great White project, the wider kaolin market and Andromeda's potential to reposition Australia on the global stage. What makes Andromeda's Great White project unique in terms of its characteristics when compared to others around the world? 'The Great White Project is one of the few kaolin deposits globally capable of producing ultra-high purity kaolin with extremely low levels of iron and titanium – key traits for top-tier ceramic applications. 'Its outstanding whiteness and firing consistency make it ideally suited for premium porcelain tiles, ceramic wall tiles, sintered stone and fine tableware. 'Importantly, the deposit contains halloysite, a rare tubular form of kaolin, that adds distinct value in the high-end tableware segment by enhancing the manufacturing process and final finish of products.' The company is currently working towards final approvals and FID for Stage 1A+; what is your expected construction and production timeline? 'The Great White Project is development-ready, with all key approvals received to commence construction. 'To support a Final Investment Decision being made, a project funding process is currently underway. In April, Andromeda entered exclusive negotiations with Merricks Capital for a debt-financing facility of up to $75 million. 'Subject to a positive Final Investment Decision, we expect to commence construction in the second half of this year, with a construction period of 12 months until commissioning of the first stage producing 55,000 tonnes of annual production, and a further three months for commissioning for an additional 45,000 tonnes. 'This positions us to initiate production and first deliveries by mid-to-late next year. Our development approach through Stage 1A+ is modular and market-driven, allowing flexibility in scaling production to align with market demand.' Andromeda has offtake agreements lined up with Traxys, IberoClays, Plantan Yamada and Foashan Goaming – but what will the company's kaolin primarily be used for? 'Our kaolin is targeted at high-performance ceramic applications, including porcelain and ceramic wall tiles, sintered stone and tableware. 'These markets require very high brightness, whiteness, and consistency, and our product delivers precisely that – the halloysite component is particularly prized in fine tableware manufacturing due to its contribution to improved forming during manufacture and the final finish of the product. 'Our goal is to serve ceramic producers who demand the highest standards – many of whom are based in or influenced by Europe. 'For example, IberoClays is based in Spain and formulates mixtures for companies that create high-end ceramics tiles and countertops. While Plantan Yamada is a Japanese manufacturer and exporter of high-quality porcelain tableware products.' Who are the major global producers of kaolin (by country) and where does Europe factor into it? 'Leading producers include the United States, Brazil, China, the UK and Ukraine. 'Each country serves different markets and offers varying grades – the US is dominant in production of kaolin used in industrial processes and for making paper, while kaolin from Brazil and China is used to serve ceramics manufacturers. Ukraine has historically been a significant supplier of high-grade ceramic kaolin to Europe. 'Europe, particularly Spain and Italy, plays a central role not only as a consumer of high-quality kaolin, but also as a global trendsetter in the ceramics industry. 'These countries are home to some of the most advanced ceramic manufacturers and equipment producers, whose standards and innovations influence product design and production technologies worldwide. 'Securing a presence in the European tile market is therefore strategic – not just for sales, but for visibility, credibility and long-term growth in the premium ceramics sector.' Are there supply gaps in the market given a large part of Ukraine's resources has fallen under Russian occupation? 'Yes – Ukraine has long been a critical supplier of kaolin for European ceramics. 'The ongoing conflict has compromised both the physical supply and logistical routes, resulting in almost all of its production being removed from the market. 'This is creating supply gaps that have forced manufacturers to seek new, reliable alternatives – particularly those outside the conflict zone and with similar quality specifications. How can Andromeda help plug those supply gaps? 'Andromeda offers a stable, transparent, and ESG-compliant alternative source of high-grade kaolin. 'Located in South Australia, the Great White Project provides a long-term, scalable supply that meets the purity and consistency standards sought by European and Asian ceramic producers. 'Our existing partnerships and distribution agreements are already aligning us with the supply needs of ceramic leaders looking to de-risk their sourcing strategies.'
