---
title: "Andrada Mining (AIM:ATM) 90% rise in revenues as tin production accelerates."
publisher: "Share Talk"
author: "sharetalk"
published: "2024-08-30T08:01:15+00:00"
modified: "2024-08-30T08:01:15+00:00"
date: 2024-08-30
canonical: "https://www.share-talk.com/andrada-mining-aimatm-90-rise-in-revenues-as-tin-production-accelerates/"
category: "Mining"
categories: ["Mining"]
tags: ["African", "Andrada Mining", "ATM", "electric vehicles", "Green Energy", "Namibia", "solar panels", "Tin", "wind turbines"]
image: "https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/08/Andrada-Mining.webp?fit=1200%2C800&quality=80&ssl=1"
format: "news"
language: "en-GB"
---

# Andrada Mining (AIM:ATM) 90% rise in revenues as tin production accelerates.

**Published:** August 30, 2024
**Author:** sharetalk
**Categories:** Mining
**Tags:** African, Andrada Mining, ATM, electric vehicles, Green Energy, Namibia, solar panels, Tin, wind turbines
**Featured image:** ![](https://i0.wp.com/www.share-talk.com/wp-content/uploads/2024/08/Andrada-Mining.webp?fit=1200%2C800&quality=80&ssl=1)

---

**Andrada Mining Ltd (AIM: ATM, OTC: AFTTF)** reported an[almost 90% increase in annual revenues](https://www.londonstockexchange.com/news-article/ATM/audited-financial-results-for-year-end-29-feb-2024/16641396) as tin production from its Uis mine in Namibia ramped up.

For the year ending February 2024, annual tin concentrate production rose 54% to 1,474 tonnes, while tin metal production grew 51% to 885 tonnes.

Cash costs decreased by 11% to US$20,796 per tonne, with all-in costs at US$26,223 per tonne (previously US$24,939), which the company stated was within its guidance range.

The company recorded a loss of £8.9 million for the year, compared to £8.1 million previously, and held a cash balance of £10.1 million as of 27 August 2024.

### Financial highlights

·    Revenue increased by 83% to £17.9 m (FY 2023: £9.8 m) due to increased tin metal volumes.

·    Gross profit increased by over 100% to £1.7m (FY 2023: loss £0.7m).

·    C1¹ operating costs decreased by 11% to US$17 870 per tonne of contained tin (FY 2023: US$19 762).

·    C2² operating costs decreased by 9% to US$20 796 per tonne of contained tin (FY 2023: US$22 287).

·    All-in sustaining cost³ at US$26 223 per tonne of contained tin (FY 2022: US$24 939) was within guidance.

·    Cash and cash equivalents at year end at £14.5m.

·    Unaudited cash balance at 27 August 2024 was £10.1m.

### Highlights

·    Annual tin concentrate tonnage increased 54% to 1 474 tonnes (FY2023: 960 tonnes).

·    Annual tin metal tonnage increased 51% to 885 tonnes (FY2023: 587 tonnes).

·    Exports increased to 56 shipments compared to 33 shipments in FY 2023.

·    Produced saleable petalite bulk sample at 4.16% lithium oxide (“Li₂O”).

·    Produced laboratory- scale spodumene concentrate at 6.8% Li₂O.

·    Renewal of the Thaisarco supply agreement for tin concentrate.

·    Renewal of the Afrimet supply agreement for tantalum concentrate.

·    Constructed and commissioned the bulk sample processing facility and tantalum circuit.

Securing a strategic partner for its lithium operations remains a priority as the company continues to expand its tin processing activities.

Key milestones for the coming years include constructing the pre-concentration circuit, completing the CI2 Programme, conducting feasibility studies, and implementing the lithium integration circuit.

Exploration efforts are also planned this year at Uis, Lithium Ridge, and Brandberg West.

---

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