Latest Andromeda Metals (Asx:Adn) News

Andromeda Metals has achieved a key financing milestone with Merricks Capital's credit approval of a A$75 million debt facility, advancing the Great White Project towards final investment decision.

Andromeda Metals has successfully raised $5 million through a share placement to institutional investors, aiming to accelerate development of its Great White and HPA projects. The company also plans to issue options that could inject further capital if exercised.

Andromeda Metals has successfully raised $5 million through a heavily subscribed placement, positioning the company to advance its flagship Great White Project and promising HPA initiative.

Andromeda Metals has successfully produced ultra-high purity alumina (HPA) at 99.9985% purity using a novel, cost-effective, and lower carbon process from kaolin sourced at its Great White Project. Independent validation confirms the breakthrough, positioning the company to capitalize on growing global demand.

Andromeda Metals has entered exclusive negotiations for a $75 million debt facility to fund the Stage 1A+ development of its Great White Project, alongside operational progress and exploration drilling.

Andromeda Metals has made significant strides in advancing its Great White Project, progressing funding efforts for Stage 1A+ and securing key operational milestones. The company also bolstered its leadership with new board appointments and received a substantial tax refund, positioning it for a critical investment decision.

Andromeda Metals has secured a $2.34 million R&D tax refund for the 2024 financial year, reinforcing its funding strategy and underpinning development of the Great White Project.