ADN - Andromeda Metals at forefront of new kaolin industry in Australia
(NewsDirect)
Andromeda Metals Ltd(ASX:ADN) managing director Bob Katsiouleris speaks with Proactiveafter the company delivered a 65% increase in the net present value(NPV) of the world-class Great White Project (GWP) to reach $1.01billion following a commercial review of the construction-ready SouthAustralian kaolin project. The results of the review, contained in anupdated definitive feasibility study (DFS), also delivered a 59%higher average annual earnings before interest tax depreciation andamortisation (EBITDA) of $130 million. The commercial reassessmentunderlined the potential use of Andromeda's core kaolin products,Great White CRM™ and the Great White KCM™ 90, in established andburgeoning segments such as high-quality ceramic tiles and porcelaintableware.
“The2023 DFS represents the outcome of a rigorous commercial and businessstrategy review for commercialising our construction-ready project, tomeet rising market demand,” Katsiouleris said.
“As we move tofinalising debt funding, the 2023 DFS will underpin our fundingstrategy for the remaining capital required to move towardsanticipated construction and into production.”
ContactDetails
Proactive Investors
JonathanJackson
+1 623-899-1599
jonathan@proactiveinvestors.com
CompanyWebsite
https://www.proactiveinvestors.com.au/
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