Andrada Mining Ltd (AIM:ATM, OTC:AFTTF) reported annual revenues up by almost 90% as tin production from its Uis mine in Namibia ramped up.
Annual tin concentrate tonnage increased 54% to 1,474 tonnes in the year ending February 2024 while annual tin metal tonnage increased 51% to 885 tonnes.
Cash costs fell by 11% to US$20,796 a tonne with all-in-costs of US$26,223t (US$24,939t), which Andrada said was within guidance.
Losses for the year were £8.9 million (£8.1 million) with a cash balance on 27 August 2024 of £10.1 million.
Finding a strategic partner for its lithium operations remains a focus while it expands its tin processing operations.
Milestones for the next few years also include the construction of the pre-concentration circuit, completion of the CI2 Programme, feasibility studies and the implementation of the lithium integration circuit.
Exploration this year is also planned at Uis, Lithium Ridge and Brandberg West.