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Andromeda Metals Limited (ASX:ADN)

ALERT: Price-sensitive ASX Announcement for ADN
Current share price for ADN : $0.006 -0.001 (-14.29%)+
Announcement
Release
31 Jul 2026 4:25PM
Price at Release
$0.007
Full Release
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Summary
Andromeda Metals Limited provided its Quarterly Activities and Appendix 5B Cash Flow Report for the period ending 30 June 2026. The company focused on advancing its High Purity Alumina (HPA) project, utilizing the high-quality Great White kaolin as feedstock. During the quarter, it completed the commissioning of an HPA pilot plant and began a testwork program aimed at optimizing the production process. The company continues to seek project funding for its Great White Project and has advanced towards securing the necessary funds, although some negotiations were delayed due to geopolitical developments. Operational cash flow saw a net outflow due to ongoing projects, but Andromeda received a substantial R&D tax refund which aided cash reserves. The report also highlights cost-saving measures and strategic focus on kaolin projects, with divestment from certain gold and copper assets.
Key Points
  • Completion of HPA pilot plant commissioning and commencement of testwork.
  • Focus on securing funding for the Great White Project, with negotiation delays.
  • Received an R&D tax refund, aiding cash reserves.
  • Operational focus on kaolin projects, divestment from gold and copper.
  • Implemented cost-saving measures totaling approximately $3 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.