Slide 1: Andrada Mining Limited Investor Presentation
September 2024 Andrada Mining Limited Investor Presentation A critical raw materials (CRM) producer AIM: ATM OTCQB: ATMTF
Slide 2: Disclaimer
DISCLAIMER These presentation slides (the “Slides”) do not comprise an admission document, listing particulars or a prospectus relating to Andrada Mining Limited (“the Company”) or any subsidiary of the Company, do not constitute an offer or invitation to purchase or subscribe for any securities of
Slide 3: Value Proposition
VALUE PROPOSITION Andrada’s goal is to sustainably produce critical raw materials Sustainability oriented Namibia, a top-tier investment business model jurisdiction Anchored on our values & strategic objectives Value-accretive Critical raw materials partnerships producer Proven management team AN EM
Slide 4: Strategic Objectives
STRATEGIC OBJECTIVES Strategic objectives Tin and tantalum Lithium to market Resource expansion Portfolio growth expansion To expand the resource To harness growth To increase the supply of tin To supply lithium, base through exploration of opportunities into and tantalum concentrate to concentrate
Slide 5: Value-Accretive Partnerships with Equity and Debt Investors
VALUE-ACCRETIVE PARTNERSHIPS WITH EQUITY AND DEBT INVESTORS Capital structure 31 August 2024 Issued capital: 1 653 487 606 PARTNERSHIP WITH TOP LITHIUM PRODUCER SQM Major shareholders: AIM (LSE) % IC The Orange Trust 15.82 https://www.sqm.com/en/ Canaccord Genuity Wealth Management 6.50 FIL (Fidelit
Slide 6: High-Quality Assets in a Top-Tier Jurisdiction
HIGH-QUALITY ASSETS IN A TOP-TIER JURISDICTION Namibia a stable resource-rich mining jurisdiction in Africa Sound legislation Resource endowed Democratic government Major minerals: Diamonds, Uranium, Gold, Erongo region Independent legal system endowed with tech-metals Supportive mining legislation
Slide 7: A Polymetallic Resource Portfolio
A POLYMETALLIC RESOURCE PORTFOLIO Licenced areas within the significant CRM geological region in Namibia – “The Erongo Jewel” Resources to transform Andrada into a globally significant, critical raw metals producer Mine in production Developing Projects Exploration Li Lithium Ta Tantalum Sn Tin Cu C
Slide 8: Sustainability Is Integrated into the Business Model
SUSTAINABILITY IS INTEGRATED INTO THE BUSINESS MODEL Sustainability embedded into our operations to build resilient ecosystems and communities Supported by the UN SDG principles Transparency with communities & Thriving employees Governance resilient community Zero Harm & Mine closure Human Rights Ec
Slide 9: Demonstrated Management Ability
DEMONSTRATED MANAGEMENT ABILITY Over 90 years’ combined experience in exploration, mining, engineering, chemistry and finance C-suite with deep industry knowledge and skills ANTHONY VILJOEN HITEN OOKA Chief Executive Officer Chief Financial Officer Mining entrepreneur Qualified chartered accountant
Slide 10: Tin and Tantalum Expansion
TIN AND TANTALUM EXPANSION AN EMERGING CRITICAL RAW MATERIALS PRODUCER INVESTOR PRESENTATION: SEPTEMBER 2024 9
Slide 11: Tin and Tantalum Expansion
TIN AND TANTALUM EXPANSION Uis mining license area with significant resource: 5% explored Uis Mine Ore Body Current Resource, V1V2 Orebody K3 K5 K8 K-Cluster K7 K10 P4/P5 P6 P-Cluster Processing plant V1/V2 V1V2 Orebody (Current Resource) V5/V12 MRE Uis Mine Tin Lithium Tantalum V1V2 pegmatites (Sn)
Slide 12: Lithium to Market
LITHIUM TO MARKET Uis asset potentially one of the largest CRM resources globally Uis Mine comparable to globally significant CRM mines Uis Mine comparable to globally significant CRM mines • Historically the world’s largest open cast tin mine • Historically the world’s largest open cast • V1/V2 res
Slide 13: Lithium to Market
LITHIUM TO MARKET AN EMERGING CRITICAL RAW MATERIALS PRODUCER INVESTOR PRESENTATION: SEPTEMBER 2024 12
Slide 14: Tin Ramp-up De-risking Lithium Integration
LITHIUM TO MARKET Tin ramp-up de-risking lithium integration Lithium Pilot Plant Existing Processing Plant AN EMERGING CRITICAL RAW MATERIALS PRODUCER INVESTOR PRESENTATION: SEPTEMBER 2024 13
Slide 15: Uis Mine Lithium Production
LITHIUM TO MARKET Lithium expansion to be implemented in phases and directed at different markets Lithium production ramp-up 80 000 Mining and Concentrating Lithium Refining 70 000 Battery Market Lithium Phase 2 60 000 10mtpa RoM* UIS MINE LITHIUM PRODUCTION Battery Market Lithium Phase 1 2.5mtp RoM
Slide 16: Lithium Investment Case
LITHIUM TO MARKET Lithium investment case Significant lithium resource 587kt inferred Li₂O at Scalable early production through integration 0.73% (JORC 2012) with current tin mine operations Conventional open-pit mining operation Concentrate suitable as feedstock for Lithium contained in the same or
Slide 17: Resource Expansion
RESOURCE EXPANSION AN EMERGING CRITICAL RAW MATERIALS PRODUCER INVESTOR PRESENTATION: SEPTEMBER 2024 16
Slide 18: Resource Expansion: SQM Partnership
RESOURCE EXPANSION : SQM PARTNERSHIP Earn-in agreement an endorsement of Lithium Ridge potential • Three-stage earn-in agreement with a renowned global leader in lithium Lithium Ridge production. Continuous lithium mineralisation along 6km strike https://www.sqm.com/en/ • 3,300 ha licence area • 35
Slide 19: Tin/Tungsten-Rich Brandberg West
RESOURCE EXPANSION Tin/tungsten-rich Brandberg West Brandberg West exploration licence Diversification potential through tungsten and copper • 35,089ha licence area • 110km from Uis Mine • Historically hosted a prolific producer of tin and tungsten Completed maiden exploration drilling in April 2024
Slide 20: Portfolio Growth
PORTFOLIO GROWTH Africa’s mineralogy provides numerous opportunities for growth Rich mineral tapestry in Africa will enable value-accretive partnerships Trade Exposure 0 0.25 0.5 0.75 1 Supply Risk 0 1 • Hugely underexplored geological landscape • Andrada has built an extensive database of mineral d
Slide 21: Andrada's Competitive Advantages
ANDRADA’S COMPETITIVE ADVANTAGES WORLD-CLASS MULTIPLE CRITICAL SOCIAL LICENCE DE-RISKED FULLY PERMITTED RESOURCE BASE METALS PRODUCER TO OPERATE DEVELOPMENT ASSET PORTFOLIO • Significant lithium, tin and • Commercially producing • Investment into the • Existing operations have Fully permitted assets
Slide 22: Market Overview
MARKET OVERVIEW AN EMERGING CRITICAL RAW MATERIALS PRODUCER INVESTOR PRESENTATION: SEPTEMBER 2024 21
Slide 23: Why Lithium: Supply and Demand
WHY LITHIUM Strong demand growth forecast to surpass expected supply 7 000 Lithium supply and demand 2015-2040, kt LCE 6 000 Strong demand growth forecast with no 5 000 foreseeable return to supply surplus Deficit 4 000 3 000 No substitute for battery 2 000 cathode chemistry 1 000 0 2015 2016 2017 2
Slide 24: Why Lithium: Growing Uses of Petalite Hard Rock Lithium
WHY LITHIUM Growing uses of petalite hard rock lithium GLOBAL LITHIUM RESERVES Estimated at 21 million metric tonnes PRIMARY RESOURCES Hardrock (Petalite or Spodumene) Sedimentary Brine Source: USGS Mineral Commodity Summaries (2022). Minerals Yearbook (2010) AN EMERGING CRITICAL RAW MATERIALS PRODU
Slide 25: Why Tin: Limited Substitution, Limited New Supply
WHY TIN Limited substitution. Limited new supply Refined Supply, Demand & Deficits electric advanced renewable computers energy Others 460 35 vehicles robotics energy & IT storage 25 Surplus/Deficit (kt) per annum Tin Refined Tin (kt) per annum 420 15 Lithium 5 0 5 Cobalt 380 Silver (5) Nickel (8) (
Slide 26: Why Tin: Technology and Climate Change Driving Demand
WHY TIN Technology and climate change is driving global tin demand Tin Demand Forecast (Refined Tin Use, ‘000 tonnes) Solar, 40% y-on-y growth • Solar Ribbon • Junction boxes (connectors) 510 • PV electronics 490 470 Solar Electric Vehicles, already 15% of car sales with a rapidly growing market sha
Slide 27: Supportive Tin Market Fundamentals
SUPPORTIVE TIN MARKET FUNDAMENTALS Tin prices have strengthened on the back of increased demand and supply constraints Supply • Tin fundamentals beginning to tighten with increasing demand in Brazil: 5% Australia: 3% a time of heightened supply disruption risk. Other Asia: 5% • Indonesia and Myanmar
Slide 28: Contact Us
CONTACT US T: +27 11 268 6555 investorrelations@andradamining.com T: +44 207 920 2150 andrada@tavistock.co.uk REGISTERED OFFICE PO Box 282 Oak House Hirzel Street, St Peter Port Guernsey GY13RH REPRESENTATIVE OFFICE | SOUTH AFRICA Illovo Edge Office Park Building 3, Ground floor, 5 Harries Road Illo
Slide 29: Appendix
APPENDIX AN EMERGING CRITICAL RAW MATERIALS PRODUCER INVESTOR PRESENTATION: SEPTEMBER 2024 28
Slide 30: Seasoned Board
SEASONED BOARD Expert knowledge on mining, geology and financial markets GLEN PARSONS Non-executive Chairman • NED Capella Minerals Limited • Previously CEO of Mariana Resources Limited & Awale Resources • Over 20 years' experience as a mining executive and in investment banking TERENCE GOODLACE MIC
Slide 31: Strategic Framework
STRATEGIC FRAMEWORK OUR PURPOSE "Andrada identifies and produces critical raw materials from a robust portfolio of assets, for a more sustainable future, improved lives and the upliftment of communities located adjacent to our operations." – Andrada Board of Directors AIM/NSX/ c400 Operating 2 Devel
Slide 32: Key Milestones
KEY MILESTONES 2024 Foundations for 2022 int exponential growth po - Plant expansion increases tin th ow concentrate production by 67% gr - Preliminary Economic ial nt Assessment indicates huge ne po upside ex 2023: Andrada’s transformational year 2019 - Maiden JORC (2012) Increased tin production –
Slide 33: FY2024 Performance Summary
FY2024 PERFORMANCE SUMMARY for the period ended 29 February 2024 Operational 60% year-on- year (“YoY”) 54% YoY increase 51% YoY increase Plant availability Tin recovery increase in ore processed in tin concentrate in contained tin production increased to 91% maintained at 69% to 915 599 tonnes produ
Slide 34: FY2024 Performance Summary
FY2024 PERFORMANCE SUMMARY for the period ended 29 February 2024 Metallurgy Commercial Produced initial Produced laboratory-scale Renewal of the Renewal of the saleable petalite bulk sample spodumene concentrate Thaisarco supply agreement AfriMet supply agreement at 4.16% Li2O at 6.8% Li2O for tin c
Slide 35: FY2024 Performance Overview: Production
FY 2024 PERFORMANCE OVERVIEW Operational : production 1 000 000 160 915 599 900 000 140 800 000 120 700 000 573 818 Tonnes per hour 543 601 100 600 000 Tonnes Tonnes 500 000 80 400 000 60 300 000 40 200 000 20 100 000 804 497 960 587 1 474 885 92 106 137 0 0 FY 2022 FY 2023 FY 2024 FY 2022 FY 2023 F
Slide 36: FY2024 Performance Overview: Cost Management and Funding
FY2024 PERFORMANCE OVERVIEW Operational : cost management and funding US$ per tonne 38 604 25 051 25 593 21 839 25 209 27 515 19 762 22 287 24 939 17 640 20 173 26 223 FY 2022 FY 2023 FY 2024 Uis mine C1 operating cost Uis mine C2 operating cost Uis mine AISC Tin price achieved • General decrease in
Slide 37: Statement of Profit and Loss
FY 2024 PERFORMANCE OVERVIEW Statement of Profit and Loss (£ million) , , ( , ) ( , ) ( , ) ( , ) ( , ) evenue Cost ross profit Admin perating Net finance oss of sales e penses profit costs • Over 100% increase in revenue (FY2023 :£9.8million) mainly due to increase in tin concentrate production • I
Slide 38: Statement of Financial Position
FY 2024 PERFORMANCE OVERVIEW Statement of Financial Position (£) 66 195 149 Total equity and liabilities 47 468 479 12 235 248 Total current liabilities 6 839 326 21 905 285 Total non-current liabilities 4 960 054 32 054 616 Total equity 35 669 099 32 609 355 Equity attributable to the owners of the
Slide 39: Statement of Cashflows
FY 2024 PERFORMANCE OVERVIEW Statement of Cashflows (£ million) Net cash from financing activities Net cash used investing . ( . ) ( . ) . . . ( . ) . . ( . ) . ( . ) ( . ) Beginning Cash Finance ease Warrant Proceeds Proceeds Proceeds Net bank Purchase of Purchase Finance Ending cash utilised in e
Slide 40: Andrada Mining
Andrada Mining INVESTOR PRESENTATION: SEPTEMBER 2024 39