#JustIn: Andrada raises millions for Uis development
Andrada Mining Limited, which operates the Uis mine in Namibia, has raised more than N$180 million through the issue of unsecured, convertible loan notes to new and existing investors.
The £7.7 million raised will be used for the expansion of the tin, tantalum and lithium exploration and production circuits, as well as for working capital purposes, the company said today in an announcement on various stock exchanges.
Andrada also announced the completion of construction, and commencement of commissioning, of its lithium bulk sampling plant.
Anthony Viljoen, Andrada CEO, described the completion of the construction phase of the lithium bulk sampling facility as “an important milestone” for the company, as it allows Andrada to advance its “exciting lithium expansion programme”.
Commenting on the millions raised, Viljoen said: “The raise demonstrates the strong support that Andrada has from its existing shareholders and other investors.”
The African technology metals mining company, with a portfolio of mining and exploration assets in Namibia, is listed on various international bourses and also on the Development Capital Board (DevX) of the Namibian Stock Exchange (NSX).
It is listed on the OTCQB, also called "The Venture Market," the middle tier of the over-the-counter (OTC) market for US stocks. The company’s shares also trade on the London’s Alternative Investment Market (AIM).
The £7.7 million raised will be used for the expansion of the tin, tantalum and lithium exploration and production circuits, as well as for working capital purposes, the company said today in an announcement on various stock exchanges.
Andrada also announced the completion of construction, and commencement of commissioning, of its lithium bulk sampling plant.
Anthony Viljoen, Andrada CEO, described the completion of the construction phase of the lithium bulk sampling facility as “an important milestone” for the company, as it allows Andrada to advance its “exciting lithium expansion programme”.
Commenting on the millions raised, Viljoen said: “The raise demonstrates the strong support that Andrada has from its existing shareholders and other investors.”
The African technology metals mining company, with a portfolio of mining and exploration assets in Namibia, is listed on various international bourses and also on the Development Capital Board (DevX) of the Namibian Stock Exchange (NSX).
It is listed on the OTCQB, also called "The Venture Market," the middle tier of the over-the-counter (OTC) market for US stocks. The company’s shares also trade on the London’s Alternative Investment Market (AIM).
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