# Interim Results for Six Months ended 31 Aug 2026 Canonical Atlas analysis: https://atlas-staging.minestarters.com/news/interim-results-for-six-months-ended-31-aug-2026--52304ec2-cfa4-443e-abf8-c122a4ca906d Original source: https://www.londonstockexchange.com/news-article/ATM/interim-results-for-six-months-ended-31-aug-2026/17845105 Publisher: lse Original announcement: 2026-10-21T05:00:03.000Z Analysis by Minestarters Atlas Atlas analysis published: 2026-10-21T07:06:08.445Z Atlas analysis updated: 2026-10-21T07:06:08.445Z - 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 Narrative sentiment: 0.90 · Bullish ## Minestarters Atlas 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 factor: Increased revenue by 80% to £20.6 million - Positive factor: Gross profit quadrupled to £8.3 million - Positive factor: Turnaround to profit after tax of £2.5 million from a £3.0 million loss - Positive factor: Cash balance increased to £15.6 million - Positive factor: Contained tin production increased by 13% to 576 tonnes - Positive factor: Tin recovery at Uis Mine improved to 73% - Positive factor: Feed grade at Uis Mine improved to 0.149% Sn - Positive factor: Ore sorting testwork at Brandberg West showed high recoveries for tungsten \(91%\) and tin \(94%\) - Positive factor: Significant mass reduction \(90%\) achieved in Brandberg West ore sorting testwork - Positive factor: Funding secured for Uis plant upgrades - Negative factor: All-in Sustaining Cost \(AISC\) increased to US$31,555/t contained tin - Negative factor: Orion royalty cost increased to US$4,517/t contained tin Facts used in scoring: 24 ## Classification and evidence **Mill Route** Polarity: neutral Definition: Processing via mill or concentrator \(CIL, CIP, tank leach, flotation\). Why it applies: the document describes a mill\_cil route \("concentrator"\) **Gravity Route** Polarity: neutral Definition: 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 sorting [Link to this fact](https://atlas-staging.minestarters.com/news/interim-results-for-six-months-ended-31-aug-2026--52304ec2-cfa4-443e-abf8-c122a4ca906d#fact-metallurgical-facts-15) Brandberg West · tungsten #### 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 factor: High recovery for tungsten in ore sorting testwork - Positive factor: Ore sorting achieved 90% mass reduction Evidence · text > metal recoveries of up to 91% for tungsten ### ore sorting [Link to this fact](https://atlas-staging.minestarters.com/news/interim-results-for-six-months-ended-31-aug-2026--52304ec2-cfa4-443e-abf8-c122a4ca906d#fact-metallurgical-facts-16) Brandberg West · tin #### 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 factor: High recovery for tin in ore sorting testwork - Positive factor: Ore sorting achieved 90% mass reduction Evidence · text > and 94% for tin ### ore sorting [Link to this fact](https://atlas-staging.minestarters.com/news/interim-results-for-six-months-ended-31-aug-2026--52304ec2-cfa4-443e-abf8-c122a4ca906d#fact-metallurgical-facts-17) Brandberg West · tungsten #### 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 factor: 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 sorting [Link to this fact](https://atlas-staging.minestarters.com/news/interim-results-for-six-months-ended-31-aug-2026--52304ec2-cfa4-443e-abf8-c122a4ca906d#fact-metallurgical-facts-18) Brandberg West #### 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 factor: 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.