Business
ACAM Transaction Update
Andrada Mining Limited has confirmed the satisfaction of two key conditions for its earn-in agreement with BWCAM, enabling an initial USD10 million investment towards the development of Brandberg West. BWCAM will also subscribe for USD1 million in equity through the issuance of 24,295,432 new ordinary shares at 3 pence per share, with admission expected on February 9, 2026. This strategic partnership aims to expedite the investigation of tailings recovery potential and advance broader exploration opportunities, with BWCAM set to acquire a 30% shareholding in Andrada upon receipt of funds. Disclaimer*
About this update from Andrada Mining Limited
[{"type":"text","content":"\n\nThe information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the market abuse regulations (EU) no. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via regulatory information service (RIS), this inside information will be in the public domain.\nAndrada Mining LimiteD\n(\"Andrada\" or the \"Company\")\nCompletion of Conditions Precedent for the Earn-In Agreement with BWCAM to Develop Brandberg West\nIssue of Equity\nAndrada Mining Limited (AIM: ATM, OTCQB: ATMTF), a tin producer with a portfolio of critical minerals mining and exploration assets in Namibia, is pleased to confirm that following the announcement of 21 January 2026 (the \"Announcement\"), the two key conditions that trigger the initial investment by BWCAM Limited (\"BWCAM\") an affiliate of ACAM LP as part of its staged earn-in partnership, have now been satisfied.\nHIGHLIGHTS\n§ Andrada will receive the USD10 million (£7.3million) ¹ towards the initial development of Brandberg West in the next few days.\n− The AIML constitution has been adopted and officers to the AIML Board of Directors (the \"Board\") have been appointed.\n− BWCAM will attain 30% shareholding in AIML a soon as the funds are received.\n− Proceeds to expedite investigation of tailings recovery potential\n§ BWCAM has invested USD1million (£728 863) ¹ for equity subscription in Andrada through the issue of 24 295 432 new Ordinary Shares (the \"Subscription Shares\").\nAnthony Viljoen, Chief Executive Officer, commented:\n\"The receipt of the initial investment from BWCAM represents an important milestone for Andrada and marks the successful transition of the Brandberg West partnership from agreement to execution. We are pleased to have fulfilled these key conditions enabling funding and to formally welcome BWCAM as a strategic partner at both the project and corporate level. This investment provides immediate momentum to advance the assessment of tailings recovery potential and broader exploration opportunities at Brandberg West. The concurrent equity subscription further aligns interests and reinforces ACAM's confidence in our team, our assets and our disciplined approach to val...