The much-anticipated pre-feasibility study (PFS) for Andromeda Metals Ltd (ASX:ADN) has been published and managing director James Marsh talks to us about what is in the study and what it means to the company.
Andromeda Metals Ltd is an Australian Securities Exchange-listed company with a focus on developing the Carey’s Well halloysite-kaolin deposit in South Australia.
The company has built a highly prospective exploration portfolio of projects covering 5,374 square kilometres within 19 exploration licences located in South Australia, Queensland and Western Australia.
Andromeda Metals, previously Adelaide Resources, was incorporated on December 23, 1993, and subsequently listed on the ASX on September 11, 1996. The company’s head office is in Adelaide, South Australia.
Its vision is to be a sustainable industrial minerals producer of high-quality halloysite-kaolin and high-purity alumina material and thus providing shareholders with a sustainable financial return on their investment in the company.
James E Marsh
BSc (Hons), MAusIMM
James Marsh is an industrial chemist and holds tertiary qualifications in chemistry and physics. He has extensive experience across a wide range of industrial minerals spanning a 25 year period, including senior technical and marketing roles with two global market leaders.
He previously worked for seven years as business development manager for Active Minerals Australia, part of the Active Minerals International group, a worldwide leader in the production and marketing of kaolin and gel quality attapulgite clay minerals.
Marsh has been instrumental in developing and launching industrial minerals products into established and new applications globally and has a successful track record in general management and sales.
The market has been anticipating the PFS for a while and the recent share price movement prior to the release was in anticipation of something extraordinary. However, the decrease in share price after the release of the PFS is in no indication of the quality of the PFS.
My thoughts are that the decreasing share price is due to market trading rather than a reflection of poor results from the PFS.
In this chat, Marsh highlights all the major points that indicate the company’s path forward is well and truly on track and according to plan.
What viewers should take away from this Coffee with Samso is that the potential upside of Andromeda Metals is just about to be realised and shareholders should realise that Marsh is fully invested in this story.
My conclusion has not changed since our first Coffee with Samso late last year. This company has a product that is not easily found in a combination of quality and delivery.
The two most important part of the project, that being quality of resource and logistics to market, is well covered and is under controlled. The PFS, at an early stage, is showing that the playability of the project is on the right path.