ADN has been in a bit of a holding pattern with the market awaiting the release of its feasibility study for their 'Great White Kaolin Project'. The stock was either going to rocket or drop like a stone and unfortunately the market was not happy with ADN down over 30% on the release of the report today.

https://cdn-api.markitdigital.com/apiman-gateway/ASX/asx-research/1.0/file/2924-02507548-2A1367308?access_token=83ff96335c2d45a094df02a206a39ff4

Andromeda Signs Binding Halloysite-Kaolin Offtake Term Sheet

• Andromeda has signed a legally binding offtake Agreement with the Vietnam and Hong Kong based Asia Minerals Resources (AMR) to supply halloysite-kaolin from the Great White Kaolin Project
• The binding Agreement is for up to a total of 38,500 tonnes of Great White KCM™ 90 over the first three years of production at a price in excess of the Definitive Feasibility Study pricing
• The Agreement includes sales into the ceramics sector covering Vietnam, Malaysia, Singapore, Bangladesh, India, Pakistan, Philippines, South Korea, Indonesia, Thailand and the UAE
• Negotiations are in progress to lock in strategic offtake agreements for the balance of the initial Great White plant output to further de-risk the project
• This includes the Great White HRM™ concrete additive and Great White SRM™ suspension aid additive where a Letter of Intent for exclusive distribution rights into Asia/Pacific has already been signed with IMCD who are the world’s largest additives distributer

Link to Full Announcement

DISC: Held in SM and tiny amount in RL

Andromeda signs another Binding Offtake Agreement for KCM 90 from the Great White Project 

Andromeda Metals Limited (ASX: ADN) (Andromeda, the Company) a near-term producer of the halloysite-kaolin industrial mineral is pleased to announce that it has signed a second legally binding offtake supply term sheet (Agreement) to supply its Great White KCM™90 product from the Great White Kaolin Project in South Australia subject to standard conditions precedent.

Highlights

• Andromeda has signed another legally binding offtake Agreement with the highly respected Japanese porcelain manufacturer Plantan Yamada to supply halloysite-kaolin from the Great White Kaolin Project
• The binding Agreement is for up to a total of 43,000 tonnes of Great White KCM 90 over the first three years of production at a price in excess of the Definitive Feasibility Study pricing
• The Agreement includes sales into the ceramics sector of Japan, adding further geographic diversity to the customer base
• This agreement adds to the recent binding offtake agreement signed with Asia Mineral Resources (ADN ASX Release 26 July 2022 - Andromeda Signs Binding Halloysite-Kaolin Offtake Term Sheet) for Great White KCM 90
• Negotiations are in progress to lock in additional strategic offtake agreements for the initial Great White plant output to further de-risk the project
• This includes the Great White HRM concrete additive and Great White SRM suspension aid additive where a Letter of Intent for exclusive distribution rights into Asia/Pacific has already been signed with IMCD who are the world’s largest additives distributer

Link to Full ASX Announcement

DISC: Held in SM and tiny amount in RL