Andrada Mining revenues jump 90% as tin production ramps up @Andrada_Mining #AIM #OTC #ATM #AFTTF. Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) reported annual revenues up by almost 90% as tin production from its Uis mine in Namibia ramped up. Annual tin concentrate tonnage increased 54% to 1 474 tonnes in the year ending February 2024 while annual tin metal tonnage increased 51% to 885 tonnes. Cash costs fell by 11% to US$20,796 a tonne with all-in-costs of US$26,223t (US$24,939t), which Andrada said was within guidance. Losses for the year were £8.9 million (£8.1 million) with a cash balance on 27 August 2024 of £10.1 million. Finding a strategic partner for... http://ow.ly/G1o6105H8MO
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Namibia’s diamond production declines 14% in Q3 Namibia’s diamond production dropped by 14% in the third quarter of 2024, with total output reaching 0.5 million carats. The De Beers Group attributed the decline to a strategic decision to reduce production at Debmarine Namibia to better align with current market conditions. Namdeb, on the other hand, offset some of this decline with improved recoveries and higher-grade mining. The YTD production for Namibia stands at 1.65 million carats, reflecting a 6% decline compared to the 1.76 million carats produced by this time in 2023. https://lnkd.in/dRQeNcnN #namibia #diamonds #roughdiamonds #mining #debeers #botswana Ministry of Mines and Energy Namibia (MME) Tom Alweendo Namdeb Diamond Corporation Debmarine Namibia Debswana Diamond Company Bruce Cleaver Al Cook Andrew Maatla Motsomi Alessandra Berridge Willy Mertens CA (SA) (NAM) Riaan Burger
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Anglo Asian Mining PLC (AIM:AAZ, OTC:AGXKF) said it has restarted mining at the Gedabek mine in Azerbaijan, with flotation operations to resume in the second quarter of this year. Production was halted during Autumn 2023 due to an environmental audit at its operations with an action plan agreed with the government in November. As a result of the disruption, output dropped to 31,821 gold equivalent ounces (57,618 GEOs) with 3,080 GEOs in the final quarter. Reza Vaziri, chief executive, commented he was pleased to hit the revised production target despite the challenges during the year. “We continue to make meaningful progress in restarting flotation production, which will begin from Q2 2024. "Completing a maiden JORC mineral resource for Gilar marked a milestone for the company, confirming our internal estimates regarding the asset's potential.” More at #Proactive #ProactiveInvestors #AIM #OTC #AAZ #AGXKF #Mining #AngloAsianMining #Azerbaijan http://ow.ly/TnWJ1058Pi3
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Andrada Mining said it is ideally placed to capitalise on the recent tin price rally with production picking up and costs stable. Over the quarter, realised tin prices rose from US$25.149 to US$30, 839 per tonne of contained tin on a year-on-year comparison. Namibia-based Andrada processed around 238,000 tonnes of concentrate in the three months to May 2024, producing 364 tonnes of tin concentrate (Q1 FY2024: 359 tonnes). Contained tin production from the Uis mine rose to 223 tonnes (Q1 FY2024: 216 tonnes) though this was lower than the previous quarter due to unplanned plant outages, which it says have now been resolved. Andrada added it also produced nine tonnes of saleable tantalum concentrate. Anthony Viljoen, chief executive, commented: “Exposing planned ore zones has reduced our stripping ratio at Uis, to 1.5:1 as at the end of May 2024. “Coinciding favourably with our expansion of both tin concentrate and... More at #Proactive #ProactiveInvestors http://ow.ly/Wf7n105xChr
Andrada Mining 'ideally placed' to cash in on tin price rally
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Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) said tin production from its Uis mine in Namibia was steady in its latest quarter helped by improvements in both recoveries and plant utilisation. Contained tin production in the three months to end August 2024 was 239 tonnes (238t) with the quarter also seeing realised tin prices bouncing 27% to US$31,937 a tonne. Cash costs in the quarter were slightly lower at US$19,400 with cash at the period end of £8.2 million Anthony Viljoen, chief executive, added: "We continue to improve operational performance as we optimise processes, indicated by the higher plant utilisation rates and contained tin tonnage. “The exposure of the higher-grade ore at Uis has enabled us to expedite the lithium bulk-sampling campaigns. “We are extremely pleased with the initial commercial sale of petalite concentrate that validates the value of Uis's lithium mineralisation. More at #Proactive #ProactiveInvestors http://ow.ly/pV0S105JWvc
Andrada Mining hails operating improvements at Uis mine
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After achieving record production of 19,000 ounces at an AISC of A$2,878 per ounce, Ora Banda Mining Ltd (ASX:OBM) is undervalued for a potential 150,000 ounces per annum producer, according to Foster Stockbroking. In a research report, Foster said that the 11% quarter-on-quarter increase in production came despite heavy rainfall during June which impacted production by 2,600 ounces. The company also had stronger sales of 18,000 ounces (+8%) at a better price of A$3,530/ounce (+11%), which offset the 6% increase in AISC and led to a 19% increase in revenue to A$64 million. Foster said Ora Banda had hit FY24 production guidance at 70,000 ounces (+46% YoY) resulting in higher revenue of $214 million (+58% YoY). More at #Proactive #ProactiveInvestors #Gold #GoldMining #GoldStocks #GoldProduction #MiningAustralia #BrokerResearch #MarketResearch http://ow.ly/Lfzm105Ev6i
Ora Banda Mining is undervalued, says Foster Stockbroking
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Ora Banda Mining Ltd (ASX:OBM) notched up record #GoldProduction for the fourth consecutive quarter with 19,271 ounces produced at the Davyhurst operations in Western Australia, one of numerous key value milestones that have set a strong growth platform for the company going into FY25. #Gold production for the three months was 11% higher than the previous quarter and came with no lost time injuries. This output was achieved despite significant rainfall in the second half of June which restricted processing throughput by ~25,000 tonnes and impacted production by about 2,600 ounces. More at #Proactive #ProactiveInvestors #GoldMining #GoldStocks #MiningAustralia http://ow.ly/CizB105BNAT
Ora Banda Mining paves golden growth path with fourth consecutive record quarter
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Navoi Mining JSC (NGMK) reported results for 2023: - Total production value reached 67.5trln UZS ($5.4bln), a +3.8% y-o-y growth; - Tax and mandatory payments amounted to 22.9trln UZS ($1.8bln); - Dividends paid to the state reached 14.4trln UZS ($1.1bln); - $473.5mln was allocated for the Investment Program; - Products worth 629.5bln UZS ($50mln) were produced under the Localization Program. https://lnkd.in/dy27hyPA
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Caledonia Mining Corporation PLC (AIM:CMCL, NYSE-A:CMCL) expects stable gold output in calendar year 2024, with guidance for production of 74,000-78,000oz from the Blanket mine in Zimbabwe. Production in 2023 was in line with guidance at around 75,100oz following the completion of a new central shaft at Blanket. Capital expenditure for the current year is forecast at US$34.4 million, which will include planned exploration at Motapa and further work on the Bilboes feasibility studies. Production costs for the 12 months ahead are estimated at between US$870-US$970/oz on a cash basis and US$1,370-US$1,470/oz all-sustaining. Mark Learmonth, chief executive, said: "I am pleased that, after a challenging first half, we successfully met production guidance for the year, producing 75,416 gold ounces. More at #Proactive #ProactiveInvestors #AIM #NYSEA #CMCL #CaledoniaMiningCorporation #gold #mining http://ow.ly/hvEF1058AJK
Caledonia Mining predicts stable production over next 12 months
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Strong Gold Production Results Propel Evolution Mining and Genesis Minerals into FY25
Strong Gold Production Results Propel Evolution Mining and Genesis Minerals into FY25 | Mining Employment Services
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Caledonia Mining (CMCL) Corporation PLC (AIM:CMCL, NYSE-A:CMCL) declared a quarterly dividend of US$0.14 per share as it reported a robust performance of Zimbabwe's Blanket mine in 2023, with cash flows improving in the second half. The dividend was kept the same level as the prior year even though, as revealed in a trading update at the start of this month, production was in line with expectations but one-off costs took the edge off profits. Chief executive Mark Learmouth said: “We continue to see Blanket as the solid foundation for growth as we pursue our strategy to become a multi-asset gold producer.” Following encouraging underground exploration restarted during the year, he said a revised resource statement is planned to be published in the second quarter of 2024 that incorporates an increase in Blanket's life-of-mine. More at #Proactive #ProactiveInvestors #CaledoniaMiningCorporation #mining #blanketmine http://ow.ly/eBFZ105nCTt
Caledonia Mining keeps dividend flat as sign of confidence in Blanket mine
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