Andromeda Metals at forefront of new kaolin industry in Australia
August 31, 2023 at 08:06 pm
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Andromeda Metals Ltd (ASX:ADN) managing director Bob Katsiouleris speaks with Proactive after the company delivered a 65% increase in the net present value (NPV) of the world-class Great White Project (GWP) to reach $1.01 billion following a commercial review of the construction-ready South Australian kaolin project. The results of the review, contained in an updated definitive feasibility study (DFS), also delivered a 59% higher average annual earnings before interest tax depreciation and amortisation (EBITDA) of $130 million. The commercial reassessment underlined the potential use of Andromeda's core kaolin products, Great White CRM™ and the Great White KCM™ 90, in established and burgeoning segments such as high-quality ceramic tiles and porcelain tableware.
“The 2023 DFS represents the outcome of a rigorous commercial and business strategy review for commercialising our construction-ready project, to meet rising market demand,” Katsiouleris said.
“As we move to finalising debt funding, the 2023 DFS will underpin our funding strategy for the remaining capital required to move towards anticipated construction and into production.”
Contact Details
Proactive Investors
Jonathan Jackson
+1 623-899-1599
jonathan@proactiveinvestors.com
Company Website
https://www.proactiveinvestors.com.au/
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Copyright (c) 2023 TheNewswire - All rights reserved., source Press Releases
Andromeda Metals Limited is an Australia-based industrial minerals company. The Company is engaged in the sustainable supply of industrial minerals and the advancement of nanotechnologies. The Company's Great White Project (GWP) contains several deposits containing a naturally occurring blend of halloysite tubes and kaolinite plates. The Great White Project is located within the District Council of Streaky Bay, near the community of Poochera on the Eyre Peninsula in South Australia. Its Mount Hope Kaolin Project is located 80 kilometers (km) northwest of Port Lincoln on the Eyre Peninsula in South Australia. It contains some of the brightest, whitest kaolin in the world. Together with its portfolio of halloysite-kaolin projects, it is also developing several copper and gold prospects across Australia. Its Eyre Kaolin Project is composed of four exploration tenements totaling 2,799 square kilometers on the Western Eyre Peninsula, South Australia.