Andrada Mining Ltd – a technology metals mining company with a portfolio of mining and exploration assets in Namibia – reports a 4.8% increase in ore processed during the completed third financial quarter on November 30, to 239,240 tonnes compared to 228,234 tonnes a year ago. Contained tin production increased by 15%, from 202 to 232 tonnes.
Anthony Viljoen, Managing Director, said: “Improved operational performance in terms of production, increased recovery rate and plant utilization is a great achievement for the company and can be directly attributed to the program. 'continuous improvement in progress'.
CEO Viljoen adds that the company aims to reduce its operating costs: “Despite the abnormally high costs recorded during this quarter, impacted by improvements to Uis' engineering protocols, we remained within limits cost forecasts for the current year and we are confident that we will achieve the forecasts for the full year. We remain optimistic about the global tin and lithium markets which seem poised for further increases. price, “As supply continues to be constrained, Andrada will be well positioned to benefit significantly from any increases as we ramp up our production over the coming year.”
Current share price: 2.20 pence each, closing down 8.2% on Friday in London.
Change over 12 months: down 59
By Tom Budszus, Alliance News Editor
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