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Andromeda Metals (ADN) investor relations material

Andromeda Metals AGM 2025 summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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AGM 2025 summary20 Nov, 2025

Opening remarks and agenda

  • Meeting opened with acknowledgment of traditional landowners and explanation of hybrid meeting format, allowing both in-person and online participation and voting.

  • Emergency, voting, and question procedures were outlined, with emphasis on inclusivity and transparency.

  • Acting CEO presented the AGM on 20 November 2025, with the meeting authorised by the Board.

Financial performance review

  • Great White Project has a post-tax NPV of A$763M, IRR of 43%, and average annual EBITDA of A$140M over a 28-year mine life.

  • HPA Scoping Study shows a post-tax NPV of A$1.01B, IRR of 69%, and pre-production capex of ~A$155M.

  • Secured multiple binding offtake agreements, notably with Traxys, supporting Stage 1A+ development and validating product quality and pricing.

  • Entered exclusive negotiations for an AUD 75 million debt facility, with credit approval received and finalization pending additional funding.

  • Raised over AUD 17.8 million through share placements and entitlement offers, with further working capital possible from option exercises.

  • Share placement raised A$13M, with an additional A$996K from a Share Purchase Plan.

  • Announced intention to pay AUD 4.55 million in environmental and rehabilitation bonds to enable pre-construction works.

Strategic initiatives and plans

  • All key permits and feasibility studies for the Great White Project are complete, with major offtakes secured for initial production.

  • Project development is staged to align with market demand, with Stage 1A+ fully committed under binding offtake contracts.

  • Great White Project deemed development-ready, with early works commencing and all key equipment fabricated and warehoused.

  • Early works and pre-construction activities are underway, including environmental bond payments and site preparation.

  • HPA Project achieved 99.9985% purity alumina, completed a scoping study showing strong economics, and initiated pilot-scale test work.

  • HPA Project advancing to pilot scale testwork, with engagement of potential customers and funding partners.

  • Focus remains on securing cornerstone equity investment and progressing both projects, with ongoing engagement with government funding bodies.

  • Expansion plans include further development of kaolin resources and future stages of the Great White Project.

GWP Stage 1A+ FID timeline
HPA novel flowsheet de-risking strategy
GWP future stages offtake strategy
Net equity funding for Great White Project
HPA project's strategic priority vs. Great White
Strategic rationale for Great White early works
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Frequently asked questions

Andromeda Metals Limited is an Australian mining and exploration company focused on the development of industrial minerals and precious metals projects. The company’s primary activities include the exploration and development of high-purity kaolin deposits, which are used in various industrial applications such as ceramics, paints, and coatings. In addition, Andromeda Metals Limited conducts exploration for gold and other valuable minerals across its portfolio of tenements in Australia. The company is headquartered in Adelaide, Australia, and its shares are listed on the ASX.

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