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Andromeda Metals Limited
(Sydney:ADN)
Andromeda Metals Limited (ADN) vs. iShares MSCI Australia ETF (EWA)
Andromeda Metals Limited Business Overview & Revenue Model
Andromeda Metals Limited Financial Statement Overview
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 0.00 | -433.11K | -491.00K | -425.00K | -191.00K | -93.23K |
| EBITDA | -3.36M | -5.62M | -6.45M | -10.58M | -8.30M | -6.08M |
| Net Income | -6.04M | -6.04M | -7.27M | -9.46M | -8.73M | -6.44M |
Balance Sheet | ||||||
| Total Assets | 160.21M | 160.21M | 158.07M | 165.03M | 174.22M | 17.76M |
| Cash, Cash Equivalents and Short-Term Investments | 7.14M | 7.14M | 5.44M | 15.30M | 32.85M | 4.90M |
| Total Debt | 365.44K | 365.44K | 581.34K | 727.12K | 846.14K | 83.56K |
| Total Liabilities | 2.27M | 2.27M | 3.19M | 2.87M | 3.03M | 1.27M |
| Stockholders Equity | 157.93M | 157.93M | 154.88M | 162.16M | 171.19M | 16.49M |
Cash Flow | ||||||
| Free Cash Flow | -9.05K | -9.05M | -12.95M | -17.38M | -10.23M | -6.85M |
| Operating Cash Flow | -2.60M | -4.77M | -5.05M | -8.78M | -5.12M | -1.73M |
| Investing Cash Flow | -1.54M | -1.40M | -4.56M | -8.58M | -9.86M | -4.29M |
| Financing Cash Flow | 7.89M | 7.87M | -247.60K | -197.01K | 42.93M | 7.93M |
Andromeda Metals Limited Peers Comparison
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $10.43B | 7.12 | -0.05% | 2.87% | 2.86% | -36.73% | |
56 Neutral | AU$182.95M | -103.33 | -8.09% | ― | ― | -275.00% | |
52 Neutral | AU$135.96M | -15.87 | -10.49% | ― | ― | 16.52% | |
46 Neutral | AU$64.70M | -7.78 | -3.86% | ― | ― | 21.74% | |
46 Neutral | AU$85.59M | -65.00 | -7.13% | ― | ― | 33.33% | |
46 Neutral | AU$29.95M | -7.83 | -7.25% | ― | ― | 78.30% | |
41 Neutral | AU$37.59M | -10.00 | -18.16% | ― | ― | -18.18% |
Andromeda Metals Limited Corporate Events
Andromeda Metals reported steady progress in the December 2025 quarter on securing funding and advancing site activities for its Great White Project, including moving due diligence forward with a prospective cornerstone asset-level investor and progressing conditions precedent and documentation for a $75 million debt facility with Merricks Capital. The company also raised more than $14 million through an equity placement, share purchase plan and director participation to fund early works at Great White, equipment procurement for the Stage 1A+ development, advancement of the HPA project, and product marketing, while simultaneously refining engineering design and commencing test work for pilot-scale continuous HPA production using Great White kaolin feedstock, positioning the business closer to a final investment decision and potential future production.
The most recent analyst rating on (AU:ADN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Andromeda Metals Limited stock, see the AU:ADN Stock Forecast page.
Andromeda Metals Limited has applied to the ASX for quotation of 128,571 new fully paid ordinary shares, issued on 16 January 2026. The modest increase in quoted securities reflects the conversion or exercise of existing options or other convertible instruments, slightly expanding the company’s share base and providing additional tradable equity for investors without indicating a major capital raising or structural change.
The most recent analyst rating on (AU:ADN) stock is a Hold with a A$0.02 price target. To see the full list of analyst forecasts on Andromeda Metals Limited stock, see the AU:ADN Stock Forecast page.
Andromeda Metals Limited has announced the cessation of 1,650,000 ADNAA options, which expired unexercised on 31 December 2025. The lapse of these options slightly reduces the pool of potential equity dilution for existing shareholders and clarifies the company’s current issued capital structure, but does not directly impact its operating activities or projects.
The most recent analyst rating on (AU:ADN) stock is a Hold with a A$0.01 price target. To see the full list of analyst forecasts on Andromeda Metals Limited stock, see the AU:ADN Stock Forecast page.
Andromeda Metals Limited has completed several key Early Works milestones at its Great White Project, including payment of required environmental compliance obligations, construction of mine access, bulk earthworks for the Stage 1A+ processing plant, geotechnical drilling, and securing insurance arrangements. Engineering detailed design for the processing plant and water infrastructure, as well as transport of long-lead equipment from overseas, are currently underway and supported by proceeds from a recent $14 million capital raising. The company has also stepped up local engagement by holding community information sessions in Poochera and Streaky Bay, aiming to keep stakeholders informed on the project’s progress and environmental compliance, which collectively positions the project closer to full-scale development and enhances Andromeda’s standing as it moves toward production.
Andromeda Metals Limited has announced a change in the director’s interest, specifically for Jean-Dominique Sorel. On December 11, 2025, Sorel acquired 1,714,285 shares and 1,028,571 listed options, valued at $30,000, under a securities placement. This change reflects an increase in Sorel’s direct holdings, which may indicate confidence in the company’s future prospects.
Andromeda Metals Limited announced a change in the director’s interest, specifically involving Sue-Ann Higgins. The change includes the acquisition of 34,285 listed options exercisable at $0.026, expiring on December 11, 2027, under a share purchase plan. This adjustment in the director’s holdings reflects the company’s ongoing efforts to align management interests with shareholder value, potentially impacting the company’s governance and stakeholder confidence.
Andromeda Metals Limited has issued a cleansing notice under section 708A(5)(e) of the Corporations Act 2001, following the issuance of over 6.9 million fully paid ordinary shares. These shares were issued without disclosure to investors, in compliance with the relevant provisions of the Corporations Act. The announcement indicates that there is no excluded information that needs to be disclosed, suggesting transparency and adherence to regulatory requirements, which may reassure stakeholders about the company’s compliance and operational integrity.
Andromeda Metals Limited has announced the issuance of 5,272,109 ordinary fully paid securities, which will be quoted on the Australian Securities Exchange. This move is part of the company’s strategy to enhance its capital structure and potentially improve its market positioning, offering stakeholders an opportunity for increased investment and growth.
Andromeda Metals Limited has announced a snapshot of its listed options, which are set to expire on December 11, 2027, at a price of $0.026. The report reveals that a significant majority of these options, 99.10%, are held by 170 holders, indicating a concentrated ownership structure. This concentration of ownership could imply potential strategic control or influence over the company’s future decisions and market activities.
Andromeda Metals Limited has released a snapshot of its top 20 holders of listed options expiring on December 11, 2027, at a price of $0.026. The top holders include major financial institutions such as Citicorp Nominees Pty Limited and UBS Nominees Pty Ltd, which collectively hold a significant portion of the options. This distribution of options indicates a strong interest from prominent investors, potentially impacting the company’s market perception and stakeholder confidence.
Andromeda Metals Limited has announced a new application for the quotation of securities as part of transactions previously disclosed to the market. This move is part of the company’s strategic efforts to enhance its financial positioning and operational capabilities. The issuance of these securities, dated December 11, 2025, is expected to impact the company’s market presence by potentially increasing its capital base and providing more flexibility in its financial operations.
Andromeda Metals Limited held a General Meeting where all resolutions were successfully passed. The resolutions included the ratification and approval of various share and option issues, which are strategic moves to enhance the company’s financial standing and operational capabilities. This outcome is likely to strengthen Andromeda Metals’ position in the market and provide opportunities for growth, benefiting stakeholders and supporting future projects.
Andromeda Metals Limited has announced a prospectus for the issuance of approximately 446 million Placement Options, 34.2 million SPP Options, and 13 million Broker Options, all with an exercise price of $0.026. This move is part of their strategic financial offerings to participants in their Placement and SPP, subject to shareholder approval. The issuance aims to enhance the company’s capital structure and provide financial flexibility, potentially impacting their market positioning and offering opportunities for stakeholders.
Andromeda Metals Limited has announced the commencement of early works at the Great White Project following the registration of a $3.79 million rehabilitation bond and a $670k payment to the Native Vegetation Fund. The early works include site preparation, construction of a mine access road, and drilling activities, with detailed design and equipment transport arrangements underway. The company is actively engaging with local stakeholders and continues to work on securing additional funding to support further development, emphasizing its commitment to regulatory compliance and community contribution.
Andromeda Metals Limited announced a change in the director’s interest, with Jean-Dominique Marie Yves Sorel acquiring 4,633,180 zero exercise price options issued in lieu of fees, increasing his total holdings to 12,906,166 Service Fee Options. This issuance under the employee incentive plan reflects the company’s strategy to align director interests with company performance, potentially impacting its governance and stakeholder confidence.
Andromeda Metals Limited announced a change in the director’s interest, with Director Miguel Joaquin Galindo Cercos acquiring 4,633,180 zero exercise price options, increasing his total holdings to 11,887,952 Service Fee Options. This change reflects an issuance of securities under the company’s employee incentive plan, indicating a strategic move to align the director’s interests with company performance and potentially impacting stakeholder perception positively.
Andromeda Metals Limited announced a change in the director’s interest, specifically regarding Sue-Ann Higgins. The change involves an acquisition of 571,429 shares under a share purchase plan, valued at $10,000, increasing her total holdings to 1,404,762 shares. This adjustment in director holdings may reflect confidence in the company’s future prospects, potentially influencing stakeholder perceptions and market positioning.
Andromeda Metals Limited announced the issuance of 9,266,360 unquoted equity securities under an employee incentive scheme, which are not intended to be quoted on the ASX. This move could potentially enhance employee engagement and retention, aligning their interests with the company’s long-term growth objectives.
Andromeda Metals Limited has announced the issuance of 56,914,350 fully paid ordinary shares, which will be quoted on the Australian Securities Exchange (ASX) under the code ADN. This move is part of a previously announced transaction, and it reflects the company’s ongoing efforts to enhance its capital structure and market presence. The issuance of these securities is expected to support Andromeda Metals’ strategic initiatives and potentially strengthen its position in the mineral resources sector.
Andromeda Metals Limited has released a document outlining various aspects of its corporate governance, including share rights, issuance, and transfer procedures. The document also covers topics such as joint shareholding, share certificates, and the handling of non-marketable parcels. This release provides stakeholders with detailed insights into the company’s operational protocols, potentially impacting shareholder engagement and corporate transparency.
Andromeda Metals Limited held its Annual General Meeting where several resolutions were voted on. Most resolutions, including the adoption of the remuneration report and various director elections, were carried, except for the approval of a 10% placement facility which was not carried. This outcome reflects shareholder sentiment on company governance and strategic decisions, potentially influencing future corporate actions and stakeholder relations.
Andromeda Metals Limited held its Annual General Meeting where the acting CEO presented updates on the company’s projects, including the Great White Kaolin Project and the HPA Scoping Study. The presentation emphasized the company’s ongoing commitment to its expansion plans and confirmed that there have been no material changes to the assumptions underpinning their financial and resource estimates. This announcement reinforces Andromeda’s strategic direction and stability, potentially impacting stakeholder confidence positively.
Andromeda Metals Limited has achieved significant milestones in the past year, particularly in securing funding for the Great White Project. The company signed a binding offtake agreement with Traxys, which supports the project’s development and future expansions. Andromeda is in exclusive negotiations with Merricks Capital for a $75 million debt facility and is also pursuing a cornerstone equity investor for both the Great White and HPA Projects. The company has raised over $17.8 million to support ongoing activities, including early works for the Great White Project. Additionally, Andromeda made a breakthrough in producing high purity alumina with market-leading economics, positioning itself as a potential global leader in low-cost, low-carbon HPA production.
Andromeda Metals Limited has successfully raised $996,000 through a Share Purchase Plan, contributing to a total of $13,996,000 raised for the development of its Great White and HPA Projects. The funds will be used for various project advancements, including environmental compliance, early site works, and equipment procurement, positioning the company to commence significant on-ground activities and enhance its operational capabilities.
Andromeda Metals Limited has released a presentation at the Noosa Mining Conference, highlighting its ongoing activities and future plans. The company reiterates its commitment to the Great White Kaolin Project and the HPA Scoping Study, emphasizing that there have been no material changes to the assumptions and parameters underpinning these projects. The presentation serves as an informational update and does not constitute investment advice, with the company cautioning stakeholders about the inherent risks and uncertainties in its forward-looking statements.
Andromeda Metals Limited has announced a proposed issue of securities, with a total of 1,028,571 options exercisable for shares at $0.026 each and 1,714,285 ordinary fully paid shares. This move is part of a placement or other type of issue, with the proposed issue date set for December 11, 2025. The announcement reflects the company’s strategy to raise capital and potentially expand its operations, which could impact its market positioning and stakeholder interests.
Andromeda Metals Limited has announced a general meeting to be held on December 10, 2025, to discuss and vote on several resolutions. The key resolutions include the ratification of the issuance of 742,857,143 Placement Shares and the approval for the issuance of 458,714,286 Placement Options. These resolutions are part of the company’s strategic financial maneuvers to enhance its capital structure and market positioning.
Andromeda Metals Limited has announced the commencement of early site works for its Great White Project, with a focus on environmental compliance and rehabilitation efforts. The company plans to invest $4.45 million to meet these obligations, paving the way for pre-construction activities such as site preparation and equipment transportation. This development marks a significant step towards the project’s pre-construction readiness, backed by recent capital raising efforts. The move is expected to enhance Andromeda’s operational capabilities and strengthen its position in the mining industry, while also ensuring compliance with regulatory requirements.
Andromeda Metals Limited has made significant strides in advancing its Great White Project and HPA Project during the quarter ending September 2025. The company secured a $75 million debt facility with Merricks Capital and raised $13 million through a share placement, reflecting strong investor support. Technical advancements included successful ceramic testwork and engineering optimizations, while the HPA Project’s scoping study highlighted promising economic potential. The company continues to progress discussions with a cornerstone investor to secure additional funding, positioning itself for the next stages of project development.
Andromeda Metals Limited announced successful test results for its kaolin samples from the Great White Project and Chairlift Deposit, which have proven to be highly competitive against established premium kaolins in the commercial ceramic hotelware market. These results highlight the potential for Andromeda’s kaolin to open additional sales opportunities and support future production expansions, enhancing its positioning in the high-value ceramics industry.