Andrada Mining Issues Shares in Lieu of Cash Interest Payments

An update from Andrada Mining ( (GB:ATM) ) is now available.

Andrada Mining Limited has issued 31,981,474 ordinary shares to convertible loan holders instead of cash interest payments, following the issuance of unsecured convertible loan notes in July 2023. These shares are set to be admitted to trading on AIM, with the total number of shares in issue reaching 1,870,327,193. This move supports the company’s financial strategy, allowing it to focus on completing its lithium pilot plant and tantalum circuit, while also maintaining its commitment to sustainable growth and stakeholder value.

The most recent analyst rating on (GB:ATM) stock is a Hold with a £2.50 price target. To see the full list of analyst forecasts on Andrada Mining stock, see the GB:ATM Stock Forecast page.

Spark’s Take on GB:ATM Stock

According to Spark, TipRanks’ AI Analyst, GB:ATM is a Neutral.

Andrada Mining’s stock shows strong technical momentum and strategic growth potential. However, persistent financial losses and negative cash flows limit its appeal. Valuation concerns due to negative earnings further weigh on the stock’s overall score.

To see Spark’s full report on GB:ATM stock, click here.

More about Andrada Mining

Andrada Mining Limited, formerly Afritin Mining Limited, is a London-listed technology metals mining company focused on developing a portfolio of significant, conflict-free production and exploration assets. Its flagship asset is the Uis Mine in Namibia, which is being redeveloped as a major producer of tin, tantalum, and lithium. The company is committed to sustainable development and creating value for stakeholders, with a strong emphasis on environmental, social, and governance standards.

Average Trading Volume: 2,528,480

Technical Sentiment Signal: Hold

Current Market Cap: £58.46M

For a thorough assessment of ATM stock, go to TipRanks’ Stock Analysis page.