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Andromeda Metals Limited (ASX:ADN)

ALERT: Price-sensitive ASX Announcement for ADN
Current share price for ADN : $0.006 -0.003 (-33.33%)+
Announcement
Release
29 Apr 2026 12:08PM
Price at Release
$0.009
Full Release
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Summary
The quarterly activities and Appendix 5B cash flow report for Andromeda Metals Limited highlights significant developments and financial activities. During the quarter, Andromeda undertook various bulk earthworks and drilling activities for the Stage 1A+ processing plant at the Great White Project, aiming to progress construction and infrastructure development. The company's cash flow report indicates expenses on exploration and evaluation, with net cash used in financing activities amounting to $49k and investing activities resulting in $3,050k expenditure. Additionally, payments to related parties totaled $69k. Andromeda is advancing its pilot-scale High Purity Alumina (HPA) testwork and expects to receive a $1.6m R&D tax refund. The company is actively seeking additional funding to support ongoing operations and development goals amidst geopolitical challenges.
Key Points
  • Bulk earthworks and drilling completed for Stage 1A+ processing plant.
  • Net cash used in financing activities was $49k.
  • Net cash used in investing activities was $3,050k.
  • Payments to related parties amounted to $69k.
  • Pilot-scale HPA testwork ongoing, with plans for HPA sample production in Q2.
  • Expecting a $1.6m R&D tax refund.
  • Seeking additional funding for operations due to geopolitical issues.
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.