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Andromeda Metals Limited (ASX:ADN)

ALERT: Price-sensitive ASX Announcement for ADN
Current share price for ADN : $0.007 -0.002 (-22.22%)+
Announcement
Release
15 Apr 2026 9:52AM
Price at Release
$0.009
Full Release
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Summary
Andromeda Metals Limited has successfully completed the early works program for the Great White Project, which includes site preparation and the establishment of essential infrastructure, such as a mine access track and stormwater pond. These early works have reduced construction risks and positioned the project for efficient construction once funding is secured, with the remaining funding requirement estimated at $40 million. The program also involved successful grade control drilling and logistics for long lead equipment. The company continues to implement cost-saving measures while advancing funding discussions.
Key Points
  • Early works for the Great White Project include site clearance, topsoil stockpiling, mine access track establishment, fencing, site signage, and excavation of a stormwater pond.
  • The completion of these early works has advanced the project, reduced construction risk, and positioned the project for efficient construction pending funding.
  • A successful drill-and-blast program improved excavation productivity and provided valuable operational experience.
  • Grade control drilling completed with samples being analyzed at the Streaky Bay Pilot Plant.
  • Transportation of long lead equipment items to Australia is underway.
  • Andromeda Metals Limited has implemented cost-saving measures in early works while continuing funding discussions.
  • The balance of equity funding required for the final investment decision has been reduced to approximately $40 million.
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.