Andrada Mining

The Namibian Competition Commission has unconditionally approved the earn-in agreement for the Brandberg-West project. BWCAM can provide up to US$51 million in staged funding for exploration and development and already holds 30% after an initial investment of US$10 million. With the approval, a put option to repurchase the 30% stake is removed. Geophysics and reverse-circulation drilling are complete; diamond drilling and sampling of waste streams are underway. » More on de.investing.com

Andrada Mining has amended the terms of the convertible bonds issued in 2023: the maturity has been extended from 20 July 2026 to 20 July 2027 and the conversion price has been reduced from 9.45 pence to 5.00 pence per share. The bonds carry 12% interest and the company may repay them early with a 20% premium. In addition, 15.4 million new warrants at 5 pence each, exercisable until 27 April 2027, were issued; a major shareholder receives warrants for 8 million ordinary shares. Management regards the terms as fair and expects this to free up capital for the growth strategy. » More on de.investing.com

Andrada Mining issued 18,595,768 shares as bonus payments to staff for 2025 and granted nil‑cost options over 54,854,811 shares under its Long‑Term Incentive and Employee Share Scheme. Significant allocations went to the board and management, including CEO Anthony Viljoen (2,383,325 shares) and CFO Hiten Ooka (3,514,041 shares); certain shares are subject to holding periods. The company reduced the exercise price for 66,380,269 historic options from 7–10.8 pence to 5 pence; these options expire on 28 February 2033. For 2025 Andrada reported contained tin production up 4% to 921 tonnes; after the allotment of the bonus shares the total number of voting rights will be 1,972,577,300. » More on de.investing.com