Interim Results for Six Months ended 31 Aug 2026
Original announcement by lse on
- Company
- Andrada Mining Limited
- Ticker
- ATM
- Exchange
- LSE
- Region
- Unavailable
- Primary commodity
- Tin
- Secondary commodities
- Lithium, Tungsten, Copper, Tantalum
- Document categories
- Production, Other, Metallurgy, Capital raise
- Extracted
- 2026-10-21 07:06:09 UTC
Analysis by Minestarters Atlas
Atlas analysis published:
Minestarters Atlas analysis
Summary
Andrada Mining Limited announced strong interim financial results for H1 FY2027, reporting an 80% increase in revenue to £20.6 million and a turnaround to a £2.5 million profit after tax. Contained tin production at the Uis Mine increased by 13% to 576 tonnes, supported by improved feed grade and plant processing rates. The company also highlighted positive ore sorting testwork results for tungsten and tin at Brandberg West and secured funding for Uis plant upgrades.
Reasoning: Andrada Mining reported a significant financial turnaround and production growth for H1 FY2027, driven by increased tin production, higher tin prices, and improved operational efficiency at Uis. Key growth projects at Lithium Ridge and Brandberg West are also advancing, with positive metallurgical testwork results for Brandberg West.
Positive factors
- Increased revenue by 80% to £20.6 million
- Gross profit quadrupled to £8.3 million
- Turnaround to profit after tax of £2.5 million from a £3.0 million loss
- Cash balance increased to £15.6 million
- Contained tin production increased by 13% to 576 tonnes
- Tin recovery at Uis Mine improved to 73%
- Feed grade at Uis Mine improved to 0.149% Sn
- Ore sorting testwork at Brandberg West showed high recoveries for tungsten (91%) and tin (94%)
- Significant mass reduction (90%) achieved in Brandberg West ore sorting testwork
- Funding secured for Uis plant upgrades
Negative factors
- All-in Sustaining Cost (AISC) increased to US$31,555/t contained tin
- Orion royalty cost increased to US$4,517/t contained tin
Facts used in scoring: 24
Classification and evidence
Mill Routeneutral
Processing via mill or concentrator (CIL, CIP, tank leach, flotation).
Why it applies: the document describes a mill_cil route ("concentrator")
Gravity Routeneutral
Gravity separation forms a material part of the flowsheet.
Why it applies: the document describes a gravity route ("jig")
Extracted facts
Stored fact records: 4. Some facts used in scoring do not have a stored record.
Metallurgical Results (4)
ore sortingBrandberg West · tungstenRecovery: 91 %View all detailsHide details
Identity
- Project
- Brandberg West
- Commodity
- tungsten
- Ticker
- ATM
Test Work
- Program Status
- preliminary
- Test Type
- ore sorting
Recovery
- Recovery
- 91 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-21T00:00:00.000Z
Reasoning: Ore sorting testwork on historical material achieved a high tungsten recovery of 91% with significant mass reduction, indicating potential for economic processing.
Positive factors
- High recovery for tungsten in ore sorting testwork
- Ore sorting achieved 90% mass reduction
Evidence · text
“metal recoveries of up to 91% for tungsten”
ore sortingBrandberg West · tinRecovery: 94 %View all detailsHide details
Identity
- Project
- Brandberg West
- Commodity
- tin
- Ticker
- ATM
Test Work
- Program Status
- preliminary
- Test Type
- ore sorting
Recovery
- Recovery
- 94 %
- Recovery Basis
- actual_test
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-21T00:00:00.000Z
Reasoning: Ore sorting testwork on historical material achieved a high tin recovery of 94% with significant mass reduction, indicating potential for economic processing.
Positive factors
- High recovery for tin in ore sorting testwork
- Ore sorting achieved 90% mass reduction
Evidence · text
“and 94% for tin”
ore sortingBrandberg West · tungstenHead Grade: 0.24Head Grade Unit: %View all detailsHide details
Identity
- Project
- Brandberg West
- Commodity
- tungsten
- Ticker
- ATM
Test Work
- Program Status
- preliminary
- Test Type
- ore sorting
Recovery
- Head Grade
- 0.24
- Head Grade Unit
- %
- Conc. Grade
- 1.45
- Conc. Grade Unit
- %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-21T00:00:00.000Z
Reasoning: Ore sorting testwork successfully increased tungsten grade from 0.24% in feed to 1.45% in concentrate, demonstrating effective beneficiation.
Positive factors
- Tungsten grade significantly increased from feed to concentrate
Evidence · text
“increased tungsten grade from 0.24% in the feed material to 1.45% in the sorted concentrate.”
ore sortingBrandberg WestView all detailsHide details
Identity
- Project
- Brandberg West
- Ticker
- ATM
Test Work
- Program Status
- preliminary
- Test Type
- ore sorting
Recovery
- Mass Pull
- 10 %
Review
- Needs Review
- No
- Historical
- No
Dates
- Event date
- 2026-10-21T00:00:00.000Z
Reasoning: The ore sorting testwork achieved a substantial 90% mass reduction, indicating efficient rejection of waste material.
Positive factors
- Ore sorting achieved a significant 90% mass reduction
Evidence · text
“approximately 90% mass reduction”
How Atlas produces this analysis
Minestarters Atlas uses automated extraction to summarize mining announcements, identify reported measurements, and classify supporting evidence. Sentiment reflects the extracted narrative and classification rules; it is an interpretation, not a reported measurement. Evidence quotes and context are provided where available. Missing data, low-confidence results, and review flags indicate limitations. Check the original publisher announcement before relying on an interpretation.