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Andromeda Metals Limited (ASX:ADN)

ALERT: Price-sensitive ASX Announcement for ADN
Current share price for ADN : $0.006 -0.004 (-40%)+
Announcement
Release
31 Mar 2026 9:45AM
Price at Release
$0.010
Full Release
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Summary
Andromeda Metals Limited (ADN) provided a company update on the progress of its Great White Project (GWP) and its High Purity Alumina (HPA) project. The company is advancing its global cornerstone equity funding process for the development of Stage 1A+ of the GWP, but geopolitical developments in the Middle East have caused delays. Cost-saving measures are being implemented with an expected $3 million in savings identified, and an R&D tax refund of $1.6 million is anticipated. The HPA project is seeing continued progress, with pilot-scale testwork expected to produce 4N HPA using a continuous process, and the commissioning of the pilot plant is scheduled. The company is preparing a marketing strategy for HPA samples, with a Pre-Feasibility Study planned for later in 2026, contingent upon funding. The HPA project also includes an analysis of an amorphous silicate by-product that could be reclassified as a high-value co-product.
Key Points
  • Company update on Great White Project and High Purity Alumina project
  • Global equity funding process for Stage 1A+ development is in advanced stages
  • Development delays due to geopolitical issues in the Middle East
  • Cost-saving measures identified approximately $3 million in savings
  • Expected R&D tax refund of $1.6 million
  • Pilot-scale testwork for HPA to produce 4N HPA using continuous process
  • Pilot plant commissioning scheduled for April
  • Marketing strategy for HPA samples to begin in the second half of the year
  • Pre-Feasibility Study planned for second half of 2026, subject to funding
  • Evaluation of amorphous silicate by-product for potential value
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.