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Andromeda Metals secures ~$130,000 by directors’ exercise of options

Andromeda’s recent PFS has reinforced the potential for the Poochera Halloysite-Kaolin JV Project in South Australia to be a long-term supplier of high-quality halloysite-kaolin product.

Andean Resources - Andromeda Metals secures ~$130,000 by directors’ exercise of options
There is growing global demand from ceramics industry manufacturers for high-value bright-white halloysite-kaolin

Andromeda Metals Ltd (ASX:ADN) has raised $129,699 via the exercise of options by its directors.

Managing director James E Marsh and non-executive chairman Rhoderick G Grivas acquired 2.5 million shares each while executive director Nicholas J Harding added 723,998 shares and non-executive director Andrew N Shearer acquired 2.596 million shares via the exercise of options.

Positive pre-feasibility study

Earlier this month, Andromeda released a positive pre-feasibility study (PFS) which has reinforced the potential for the Poochera Halloysite-Kaolin JV Project in South Australia to be a long-term supplier of high-quality halloysite-kaolin product.

The PFS for a proposed kaolinised granite open-cut mine and site wet-processing facility at Carey’s Well deposit has delivered further improvement in the project economics.

This has largely been achieved through the inclusion of onsite wet-processing for the production of premium grade refined kaolin clay.

Quick facts: Andromeda Metals Ltd

Price: 0.048 AUD

ASX:ADN
Market: ASX
Market Cap: $74.71 m
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Andromeda Metals (ASX: ADN) Managing Director James Marsh joined Proactive"s Steve Darling from the Vancouver Resource Investment Conference to discuss the Australian listed exploration company.  Andromeda Metals Limited has a vision of becoming the world's leading supplier of high-grade...

on 21/1/20

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