Uis’ Andrada starts trading on OTCQB
Shares on three stock exchanges
Andrada's strategy is to broaden the company's investor base by making its shares more accessible to the North American institutional and retail investors.
Andrada Mining Ltd’s shares commence trading today on the OTCQB to access US retail investors and to broaden shareholder register.
The OTCQB, also called "The Venture Market," is the middle tier of the over-the-counter (OTC) market for US stocks.
Andrada owns the tin and lithium mine at Uis.
Andrada is also listed on the London’s Alternative Investment Market (AIM) and the Namibian Stock Exchange (NSX).
Anthony Viljoen, CEO of Andrada, said: "Admission to the OTCQB Market is a key step in Andrada's strategy to broaden the company's investor base by making its shares more accessible to the North American institutional and retail investors.
“This investor base is known for its understanding of, and strong appetite, for mining companies, particularly in lithium equities. To that effect, Andrada will start marketing and outreach efforts to US-based investors in the coming months to increase awareness of our significant near-term lithium project."
Desirable
Andrada last week said it produced lithium concentrate in the form of a high purity petalite concentrate.
Andrada said the concentrate was produced as part of the company's off-site pilot test programme to investigate the metallurgical potential of the pegmatites from its mineral license areas around the town of Uis in Namibia.
Potential offtakers have indicated that this concentrate composition represents a desirable lithium product, Andrada said. The concentrate will be used to conduct test work with potential offtakers, including petalite conversion to lithium carbonate and lithium hydroxide.
Viljoen commented: "We are extremely pleased to announce the production of our first saleable bulk lithium concentrate. This milestone follows the previously reported successful laboratory scale test work and we believe it moves us one step closer to full-scale lithium production.”
Pilot plant
According to Andrada, the construction of an on-site lithium pilot plant is on schedule with completion due during next month, and commissioning expected to commence in July 2023.
The pilot plant will enable the company to expedite bulk pilot test work and increase pilot production of lithium concentrate.
“With the completion of the on-site pilot plant imminent, we intend to expedite bulk pilot test work on all our mineral licenses. Simultaneously, we plan to increase pilot-scale production of lithium concentrate for testing with potential offtakers to achieve initial lithium sales.
“We believe that this represents a huge step towards realising the value of our mineral assets in Namibia and we look forward to updating the market in due course," Viljoen said.
The OTCQB, also called "The Venture Market," is the middle tier of the over-the-counter (OTC) market for US stocks.
Andrada owns the tin and lithium mine at Uis.
Andrada is also listed on the London’s Alternative Investment Market (AIM) and the Namibian Stock Exchange (NSX).
Anthony Viljoen, CEO of Andrada, said: "Admission to the OTCQB Market is a key step in Andrada's strategy to broaden the company's investor base by making its shares more accessible to the North American institutional and retail investors.
“This investor base is known for its understanding of, and strong appetite, for mining companies, particularly in lithium equities. To that effect, Andrada will start marketing and outreach efforts to US-based investors in the coming months to increase awareness of our significant near-term lithium project."
Desirable
Andrada last week said it produced lithium concentrate in the form of a high purity petalite concentrate.
Andrada said the concentrate was produced as part of the company's off-site pilot test programme to investigate the metallurgical potential of the pegmatites from its mineral license areas around the town of Uis in Namibia.
Potential offtakers have indicated that this concentrate composition represents a desirable lithium product, Andrada said. The concentrate will be used to conduct test work with potential offtakers, including petalite conversion to lithium carbonate and lithium hydroxide.
Viljoen commented: "We are extremely pleased to announce the production of our first saleable bulk lithium concentrate. This milestone follows the previously reported successful laboratory scale test work and we believe it moves us one step closer to full-scale lithium production.”
Pilot plant
According to Andrada, the construction of an on-site lithium pilot plant is on schedule with completion due during next month, and commissioning expected to commence in July 2023.
The pilot plant will enable the company to expedite bulk pilot test work and increase pilot production of lithium concentrate.
“With the completion of the on-site pilot plant imminent, we intend to expedite bulk pilot test work on all our mineral licenses. Simultaneously, we plan to increase pilot-scale production of lithium concentrate for testing with potential offtakers to achieve initial lithium sales.
“We believe that this represents a huge step towards realising the value of our mineral assets in Namibia and we look forward to updating the market in due course," Viljoen said.
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