Namibian Mining News The Professional Mining Journal
Related Articles
The Namibian tin and critical minerals producer, Andrada Mining Limited (AIM: ATM, OTCQB: ATMTF) has confirmed that the key conditions for its staged earn-in agreement with BWCAM Limited, an affiliate of ACAM LP, have now been satisfied. This milestone triggers the initial $10 million (£7.3 million) investment toward the development of the Brandberg West project.
In exchange, BWCAM will acquire a 30% stake in the company once the funds are received. The investment proceeds will be used to accelerate the investigation of tailings recovery potential, while BWCAM has already demonstrated its commitment through a USD 1 million (£728,863) equity subscription for 24,295,432 new ordinary shares, aligning interests at both the project and corporate levels.
Andrada’s Chief Executive Officer,Anthony Viljoen said, “The receipt of the initial investment from BWCAM represents an important milestone for Andrada and marks the successful transition of the Brandberg West partnership from agreement to execution. This funding provides immediate momentum to advance tailings recovery and broader exploration opportunities. The concurrent equity subscription further reinforces ACAM’s confidence in our team, assets and disciplined approach to value creation.”
The partnership allows Andrada to move forward with its planned work programmes, positioning the company as a diversified critical metals producer ready to meet long-term structural demand. The only remaining condition to complete the initial earn-in is approval from the Namibian Competition Commission. Regarding the admission of new shares, an application has been made to the London Stock Exchange for the 24,295,432 subscription shares to be admitted to trading on AIM at 3 pence per share. Trading is expected to commence at 08:00hrs on 9 February 2026.
Following this admission, Andrada’s total issued shares will be 1,953,981,532, which shareholders can use for calculations related to disclosures under the Company’s Articles, FCA rules or AIM rules.
