Andromeda Metals (ADN) Q4 2025 TU earnings summary

Executive summary

• Advanced project funding for Great White Project, securing $75 million debt facility credit approval and progressing additional funding with select capital providers.

• Achieved successful validation of Great White CRM™ as a high-quality kaolin product for industrial glazes, opening new sales opportunities in the ceramics industry.

• Produced high purity alumina (HPA) at 99.9985% purity using a novel flowsheet, with independent validation, supporting future product portfolio expansion.

• Raised approximately $5 million through a share placement to institutional and sophisticated investors.

Financial highlights

• Cash and cash equivalents at quarter end were $7.142 million, up from $4.668 million in the previous quarter.

• Net funds used in operating activities were $1.458 million; net funds used in investing activities were $672,000; net funds from financing activities were $4.604 million.

• Exploration and evaluation expenditure during the quarter was $650,000.

• Estimated quarters of funding available is 3.42 based on current cash and outgoings.

Outlook and guidance

• Finalisation and execution of the $75 million debt facility are contingent on securing the balance of project funding.

• Scoping Study for the HPA Project underway to assess market opportunities, with ongoing product development and marketing activities.

• Continued focus on advancing the Great White Project and expanding the kaolin and HPA product portfolio.