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Highlights

  • In H1FY24, ATM achieved revenue of GBP 8.84 million, marking an 87.3% YoY increase compared to pcp
  • Gross profit amounted to GBP 1.52 million, up from GBP 0.99 million in pcp
  • In its Q1FY25 operational update, the company reported a YoY rise in realized tin price, from USD 25,149 to USD 30,839 per tonne of contained tin

Andrada Mining Ltd (LSE: ATM) is strategically advancing its portfolio of high-value critical metal assets, aiming to establish itself as a leader in sustainable mining across Africa. By focusing on these essential metals, Andrada Mining aims to contribute positively to both environmental stewardship and local economic development in the region. The company is listed in the FTSE AIM All-Share index and has a market cap of GBP 60.68 million.

In the first half of FY24, the company achieved a revenue of GBP 8.84 million, marking an 87.3% year-on-year increase compared to the previous corresponding period (pcp). This revenue growth was driven by enhanced commodity production and higher average realized sales prices. Similarly, gross profit amounted to GBP 1.52 million, up from GBP 0.99 million in the pcp.

Additionally, in H1FY24, the company achieved a shorter cash conversion cycle of 76.3 days and a lower debt-to-equity ratio of 0.25x, better than the industry median figures of 88.3 days and 0.39x, respectively.

Recent business update

In its Q1FY25 operational update, the company reported a year-on-year rise in realized tin price from USD 25,149 to USD 30,839 per tonne of contained tin. As of 31 May 2024, its unaudited cash balance stood at GBP 11.9 million.

Company outlook

The company anticipates copper production in FY25 to range from 950,000 to 1,010,000 tonnes, with cobalt production expected between 35,000 and 40,000 tonnes. Nickel production is projected to be approximately 80,000 to 90,000 tonnes, while coal production is forecasted to range from 105 million to 115 million tonnes in FY25.

Top 10 shareholders

The top 10 shareholders of ATM together own approximately 59.76% of the total shares. The Orange Trust holds the largest share among them, accounting for about 15.22% of the total shares, followed by Canaccord Genuity Wealth Management with approximately 8.55% of the total shareholding, as shown in the chart below:

 

Stock performance

ATM's stock price has declined by approximately 8.23% in the past three months and by about 26.41% over the last six months. The stock price has ranged from a 52-week low of GBX 3.76 to a high of GBX 8.70, and is currently trading below the average of this range.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 25 June 2024. The reference data in this report has been partly sourced from EODHD/Others.