TIDMATM

RNS Number : 0230Z

Andrada Mining Limited

11 May 2023

11 May 2023

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 (MAR) as in force in the United Kingdom pursuant to the European Union (Withdrawal) Act 2018. Upon the publication of this announcement via Regulatory Information Service (RIS), this inside information is now considered to be in the public domain.

Andrada Mining Limited

("Andrada" or the "Company")

Issue of Share Options

Issue of Equity (Shares in lieu of Directors Fees)

Andrada Mining Limited (AIM: ATM), an African technology metals mining company with a portfolio of mining and exploration assets in Namibia announces that the Company has today granted options over 41,217,116 ordinary shares of the Company ("Options") to certain Directors, senior managers, and employees of the Company, in line with its Long-Term Incentive Scheme ("LTIP"). The LTIP was established to incentivise and reward individuals whose skills and extensive experience facilitate the implementation of the Company's strategic objectives.

Employees were awarded the majority of the options with the balance being issued to Directors and senior managers of the Company, as detailed below. The Options are exercisable at a price of 6p per ordinary share. For the employees and senior managers, the Options can be exercised at any time from 1 May 2026, for a period of seven years and for the Directors, the Options can be exercised at any time from 1 May 2028, for a period of seven years, subject to certain additional conditions being satisfied. In each case, the options will vest in three tranches and each tranche can only be exercised if the 60-day Volume Weight Average Price ("60-day VWAP") of the Andrada share price exceeds the target share price for that tranche. The target share price for the three tranches are 7p, 8p and 9p respectively. These targets have been created to ensure that the incentives capture the sustainable improvement in the business performance. The Options expire in 2033 and are also conditional on the continued employment of the relevant recipient as an employee of the Company at the time of exercise.

Until recently, Andrada has been in early production and feasibility study phase with low cash generative capacity. To that effect, the Company has remunerated its non-Executive directors with a combination of comparatively lower fees, and options. However, the Board has resolved to cease remuneration to non-Executive Directors through the issue of options from the next financial year and will only pay cash-based remuneration to those directors going forward.

The options issued to the Directors and PDMRs are as set out as follows:

 
 Name                         Tranche          Tranche          Tranche          Total 
                               one vesting      two vesting      three vesting    number 
                               at 7p (60-day    at 8p (60-day    at 9p (60-day    of options 
                               VWAP) and        VWAP) and        VWAP) and        issued 
                               exercisable      exercisable      exercisable 
                               in 60 Months     in 60 Months     in 60 Months 
                               from date        from date        from date 
                               of grant         of grant         of grant 
 Glen Parsons* 
  Non-Executive Director      281,149          281,149          281,149          843,447 
                             ---------------  ---------------  ---------------  ------------ 
 Laurence Robb* 
  Non-Executive Director      281,149          281,149          281,149          843,447 
                             ---------------  ---------------  ---------------  ------------ 
 Terence Goodlace* 
  Non-Executive Director      281,149          281,149          281,149          843,447 
                             ---------------  ---------------  ---------------  ------------ 
 Michael Rawlinson 
  Non-Executive Director      281,149          281,149          281,149          843,447 
                             ---------------  ---------------  ---------------  ------------ 
 Gida Nikazibwe Sekandi 
  Non-Executive Director      281,149          281,149          281,149          843,447 
                             ---------------  ---------------  ---------------  ------------ 
 Anthony Viljoen* 
  Chief Executive Officer 
  & Executive Director        937,163          937,163          937,163          2,811,489 
                             ---------------  ---------------  ---------------  ------------ 
 Hiten Ooka 
  Financial Director          702,872          702,872          702,872          2,108,616 
                             ---------------  ---------------  ---------------  ------------ 
 Chris Smith 
  Chief Operations Officer    702,872          702,872          702,872          2,108,616 
                             ---------------  ---------------  ---------------  ------------ 
 Frans van Daalen 
  Chief Strategy Officer      702,872          702,872          702,872          2,108,616 
                             ---------------  ---------------  ---------------  ------------ 
 

* These directors also benefit from other share options in the Company as follows: Anthony Viljoen - options over 10,600,000 ordinary shares; Glen Parsons - options over 4,500,000 ordinary shares; Laurence Robb - options over 4,000,000 ordinary shares and Terrence Goodlace - options over 4,000,000 ordinary shares. More details of these options are set out on page 20 of the Company's Annual Report for the year ended 28 February 2022.

Shares in lieu of Directors' fees.

In addition, the Company has today issued 1,092,189 Ordinary Shares ("New Shares") to Mr. Laurence Robb and Mr. Michael Rawlinson, in lieu of their fees for the financial years ended February 2022 and 2023. This is in accordance with the terms of their contracts. The associated calculations are set out below:

 
 Name                   H1 2022                       H2 2022                      H1 2023                      H2 2023                Total 
  of NED                                                                                                                               shares 
                                                                                                                                      in lieu 
                                                                                                                                      of fees 
                                            ---------------------------  ---------------------------  ---------------------------- 
                Fees     Average   Number    Fees     Average   Number    Fees     Average   Number    Fees     Average    Number 
                 in      closing     of       in      closing     of     in lieu   closing      of      in      closing       of 
                lieu      price    issued    lieu      price    issued     of       price     issued   lieu      price      issued 
                 of        GBP     shares     of        GBP     shares   shares:     GBP      shares    of        GBP       shares 
               shares:     for              shares:     for                GBP       for              shares:     for 
                 GBP        H1                GBP        H2                           H1                GBP        H2 
                                   -------  -------             -------  -------  ---------  -------  -------  ---------  -------- 
 Michael 
  Rawlinson      0          -         0      3,500   GBP0.0544  64,396   10,500   GBP0.0353  160,852  10,500   GBP0.0478   219,516    444,764 
-----------  ---------  ---------  -------  -------  ---------  -------  -------  ---------  -------  -------  ---------  --------  ---------- 
 Laurence 
  Robb        GBP9,000  GBP0.0578  155,807   9,000   GBP0.0544  165,189   9,000   GBP0.0353  137,873   9,000   GBP0.0478   188,156    647,426 
-----------  ---------  ---------  -------  -------  ---------  -------  -------  ---------  -------  -------  ---------  --------  ---------- 
                                                                  229                          298                           407 
 Total                             155,807                        984                          726                           672     1,092,189 
-----------  ---------  ---------  -------  -------  ---------  -------  -------  ---------  -------  -------  ---------  --------  ---------- 
 

Application has been made for the admission of the New Shares to trading on AIM, and the Company expects that the admission will become effective and dealings in the Warrant Shares will commence at 8.00 a.m. on or around 17 May 2023 ("Admission").

In accordance with the provisions of the Disclosure Guidance and Transparency Rules (DTR) of the Financial Conduct Authority, the Company confirms that upon Admission its issued share capital will comprise 1,538,955,533 Ordinary Shares of no-par value. All of the Company's Ordinary Shares have equal voting rights and none of the Ordinary Shares are held in treasury. The total number of voting rights in the Company will therefore be 1,538,955,533 following Admission.

This total voting rights figure may be used by shareholders as the denominator for calculations to determine whether they are required to notify their interests in, or a change to their interest in Andrada under the DTRs. The notification of dealing forms for the options and issue of equity can be found below. These notifications are made in accordance with the requirements of the UK Market Abuse Regulation.

 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                             Glen Parsons 
      -------------------------------  --------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                  Non-Executive Director & Chairman 
      -------------------------------  --------------------------------------- 
 b)    Initial notification/            Initial notification 
        Amendment 
      -------------------------------  --------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                             Andrada Mining plc 
      -------------------------------  --------------------------------------- 
 b)    LEI                              *    213800FKOXWBL6JBVH90 
 
      -------------------------------  --------------------------------------- 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------ 
 a)    Description of the               Ordinary share 
        financial instrument, 
        type of instrument               GG00BD95V148 
        Identification code 
      -------------------------------  --------------------------------------- 
 b)    Nature of the transaction        Issue of options 
      -------------------------------  --------------------------------------- 
 c)    Price(s) and volume(s)            Price(s)   Volume(s) 
                                          6p         843,447 
                                                    ---------- 
      -------------------------------  --------------------------------------- 
        Aggregated information 
          *    Aggregated volume 
 
                                          843,447 
 
 d)       *    Price                      6p 
      -------------------------------  --------------------------------------- 
 e)    Date of the transaction          11 May 2023 
      -------------------------------  --------------------------------------- 
 f)    Place of the transaction         XLON, AIM 
      -------------------------------  --------------------------------------- 
 
 
       Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                                    Laurence Robb 
      --------------------------------------  -------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                         Non-Executive Director 
      --------------------------------------  -------------------------------- 
 b)    Initial notification/                   Initial notification 
        Amendment 
      --------------------------------------  -------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                                    Andrada Mining plc 
      --------------------------------------  -------------------------------- 
 b)    LEI                                     213800FKOXWBL6JBVH90 
      --------------------------------------  -------------------------------- 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted. 
      ------------------------------------------------------------------------ 
 a)    Description of the                      Ordinary share 
        financial instrument,                   GG00BD95V148 
        type of instrument 
        Identification code 
      --------------------------------------  -------------------------------- 
 b)    Nature of the transaction               Issue of options 
      --------------------------------------  -------------------------------- 
 c)    Price(s) and volume(s)                   Price(s)   Volume(s) 
                                                 6p         843,447 
                                                           ---------- 
      --------------------------------------  -------------------------------- 
 d)     Aggregated information 
     *    Aggregated volume                     843,447 
                                                 6p 
 
     *    Price 
 -------------------------------------------  -------------------------------- 
 e)    Date of the transaction                 11 May 2023 
      --------------------------------------  -------------------------------- 
 f)    Place of the transaction                XLON, AIM 
      --------------------------------------  -------------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                Terence Goodlace 
     ----------------------------------  ----------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                     Non-Executive Director 
     ----------------------------------  ----------------------------------- 
 b)   Initial notification/               Initial notification 
       Amendment 
     ----------------------------------  ----------------------------------- 
 
 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
 a)    Name                                  Andrada Mining plc 
      ------------------------------------  ------------------------------ 
 b)    LEI                                   213800FKOXWBL6JBVH90 
      ------------------------------------  ------------------------------ 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      -------------------------------------------------------------------- 
 a)    Description of the                    Ordinary share 
        financial instrument, 
        type of instrument 
                                              GG00BD95V148 
        Identification code 
      ------------------------------------  ------------------------------ 
 b)    Nature of the transaction             Issue of options 
      ------------------------------------  ------------------------------ 
 c)    Price(s) and volume(s)                 Price(s)   Volume(s) 
                                               6p         843,447 
                                                         ---------- 
      ------------------------------------  ------------------------------ 
 d)     Aggregated information 
     *    Aggregated volume                   843,447 
                                               6p 
 
     *    Price 
 -----------------------------------------  ------------------------------ 
 e)    Date of the transaction               11 May 2023 
      ------------------------------------  ------------------------------ 
 f)    Place of the transaction              XLON, AIM 
      ------------------------------------  ------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                Michael Rawlinson 
     ----------------------------------  ----------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                     Non-Executive Director 
     ----------------------------------  ----------------------------------- 
 b)   Initial notification/               Initial notification 
       Amendment 
     ----------------------------------  ----------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer, or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                                Andrada Mining plc 
     ----------------------------------  ----------------------------------- 
 b)   LEI                                 213800FKOXWBL6JBVH90 
     ----------------------------------  ----------------------------------- 
 
 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
 a)    Description of the financial            Ordinary share 
        instrument, type of 
        instrument                              GG00BD95V148 
        Identification code 
      --------------------------------------  ---------------------------- 
 b)    Nature of the transaction               Issue of options 
      --------------------------------------  ---------------------------- 
 c)    Price(s) and volume(s)                   Price(s)   Volume(s) 
                                                 6p         843,447 
                                                           ---------- 
      --------------------------------------  ---------------------------- 
 d)     Aggregated information 
     *    Aggregated volume                     843,447 
                                                 6p 
 
     *    Price 
 -------------------------------------------  ---------------------------- 
 e)    Date of the transaction                 11 May 2023 
      --------------------------------------  ---------------------------- 
 f)    Place of the transaction                XLON, AIM 
      --------------------------------------  ---------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                    Gida Nakazibwe Sekandi 
     --------------------------------------  ------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                          Non-Executive Director 
     --------------------------------------  ------------------------------- 
 b)   Initial notification/                   Initial notification 
       Amendment 
     --------------------------------------  ------------------------------- 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer, or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                                    Andrada Mining plc 
     --------------------------------------  ------------------------------- 
 b)   LEI                                     213800FKOXWBL6JBVH90 
     --------------------------------------  ------------------------------- 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ----------------------------------------------------------------------- 
 a)   Description of the financial            Ordinary share 
       instrument, type of 
       instrument                              GG00BD95V148 
       Identification code 
     --------------------------------------  ------------------------------- 
 b)   Nature of the transaction               Issue of options 
     --------------------------------------  ------------------------------- 
 c)   Price(s) and volume(s)                   Price(s)   Volume(s) 
                                                6p         843,447 
                                                          ---------- 
     --------------------------------------  ------------------------------- 
 
 
 d)     Aggregated information 
     *    Aggregated volume          843,447 
                                      6p 
 
     *    Price 
 e)    Date of the transaction      11 May 2023 
      ---------------------------  ------------ 
 f)    Place of the transaction     XLON, AIM 
      ---------------------------  ------------ 
 
 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                                     Anthony Viljoen 
      ---------------------------------------  ------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                          Chief Executive Officer 
      ---------------------------------------  ------------------------------- 
 b)    Initial notification/                    Initial notification 
        Amendment 
      ---------------------------------------  ------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                                     Andrada Mining plc 
      ---------------------------------------  ------------------------------- 
 b)    LEI                                      213800FKOXWBL6JBVH90 
      ---------------------------------------  ------------------------------- 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------ 
 a)    Description of the financial             Ordinary share 
        instrument, type of 
        instrument                               GG00BD95V148 
        Identification code 
      ---------------------------------------  ------------------------------- 
 b)    Nature of the transaction                Issue of options 
      ---------------------------------------  ------------------------------- 
 c)    Price(s) and volume(s)                    Price(s)   Volume(s) 
                                                  6p         2,811,489 
                                                            ---------- 
      ---------------------------------------  ------------------------------- 
 d)     Aggregated information 
     *    Aggregated volume                      2,811,489 
                                                  6p 
 
     *    Price 
 --------------------------------------------  ------------------------------- 
 e)    Date of the transaction                  11 May 2023 
      ---------------------------------------  ------------------------------- 
 f)    Place of the transaction                 XLON, AIM 
      ---------------------------------------  ------------------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                                      Hiten Ooka 
      ----------------------------------------  ------------------------------ 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                           Financial Director 
      ----------------------------------------  ------------------------------ 
 b)    Initial notification/                     Initial notification 
        Amendment 
      ----------------------------------------  ------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                                      Andrada Mining plc 
      ----------------------------------------  ------------------------------ 
 b)    LEI                                       213800FKOXWBL6JBVH90 
      ----------------------------------------  ------------------------------ 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------ 
 a)    Description of the financial              Ordinary share 
        instrument, type of 
        instrument                                GG00BD95V148 
        Identification code 
      ----------------------------------------  ------------------------------ 
 b)    Nature of the transaction                 Issue of options 
      ----------------------------------------  ------------------------------ 
 c)    Price(s) and volume(s)                     Price(s)   Volume(s) 
                                                   6p         2,108,616 
                                                             ---------- 
      ----------------------------------------  ------------------------------ 
 d)     Aggregated information 
     *    Aggregated volume                       2,108,616 
                                                   6p 
 
     *    Price 
 ---------------------------------------------  ------------------------------ 
 e)    Date of the transaction                   11 May 2023 
      ----------------------------------------  ------------------------------ 
 f)    Place of the transaction                  XLON, AIM 
      ----------------------------------------  ------------------------------ 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                              Chris Smith 
     --------------------------------  ------------------------------------- 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                   Chief Operational Officer 
     --------------------------------  ------------------------------------- 
 b)   Initial notification/             Initial notification 
       Amendment 
     --------------------------------  ------------------------------------- 
 
 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
 a)    Name                                    Andrada Mining plc 
      --------------------------------------  ---------------------------- 
 b)    LEI                                     213800FKOXWBL6JBVH90 
      --------------------------------------  ---------------------------- 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      -------------------------------------------------------------------- 
 a)    Description of the financial            Ordinary share 
        instrument, type of 
        instrument                              GG00BD95V148 
        Identification code 
      --------------------------------------  ---------------------------- 
 b)    Nature of the transaction               Issue of options 
      --------------------------------------  ---------------------------- 
 c)    Price(s) and volume(s)                   Price(s)   Volume(s) 
                                                 6p         2,108,616 
                                                           ---------- 
      --------------------------------------  ---------------------------- 
 d)     Aggregated information 
     *    Aggregated volume                     2,108,616 
                                                 6p 
 
     *    Price 
 -------------------------------------------  ---------------------------- 
 e)    Date of the transaction                 11 May 2023 
      --------------------------------------  ---------------------------- 
 f)    Place of the transaction                XLON, AIM 
      --------------------------------------  ---------------------------- 
 
 
 1    Details of the person discharging managerial responsibilities/person 
       closely associated 
 a)   Name                                     Frans van Daalen 
     ---------------------------------------  ------------------------------ 
 2    Reason for the notification 
     ----------------------------------------------------------------------- 
 a)   Position/status                          Chief Strategy Officer 
     ---------------------------------------  ------------------------------ 
 b)   Initial notification/                    Initial notification 
       Amendment 
     ---------------------------------------  ------------------------------ 
 3    Details of the issuer, emission allowance market participant, 
       auction platform, auctioneer, or auction monitor 
     ----------------------------------------------------------------------- 
 a)   Name                                     Andrada Mining plc 
     ---------------------------------------  ------------------------------ 
 b)   LEI                                      213800FKOXWBL6JBVH90 
     ---------------------------------------  ------------------------------ 
 4    Details of the transaction(s): section to be repeated 
       for (i) each type of instrument; (ii) each type of transaction; 
       (iii) each date; and (iv) each place where transactions 
       have been conducted 
     ----------------------------------------------------------------------- 
 a)   Description of the financial             Ordinary share 
       instrument, type of 
       instrument                               GG00BD95V148 
       Identification code 
     ---------------------------------------  ------------------------------ 
 
 
 b)    Nature of the transaction    Issue of options 
 c)    Price(s) and volume(s)        Price(s)   Volume(s) 
                                      6p         2,108,616 
                                                ---------- 
      ---------------------------  ----------------------- 
 d)     Aggregated information 
     *    Aggregated volume          2,108,616 
                                      6p 
 
     *    Price 
 --------------------------------  ----------------------- 
 e)    Date of the transaction      11 May 2023 
      ---------------------------  ----------------------- 
 f)    Place of the transaction     XLON, AIM 
      ---------------------------  ----------------------- 
 
 
 1     Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                                Michael Rawlinson 
      ----------------------------------  ------------------------------------ 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                     Non-Executive Director 
      ----------------------------------  ------------------------------------ 
 b)    Initial notification/               Initial notification 
        Amendment 
      ----------------------------------  ------------------------------------ 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                                Andrada Mining plc 
      ----------------------------------  ------------------------------------ 
 b)    LEI                                 213800FKOXWBL6JBVH90 
      ----------------------------------  ------------------------------------ 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted 
      ------------------------------------------------------------------------ 
 a)    Description of the financial        Ordinary share 
        instrument, type of 
        instrument                          GG00BD95V148 
        Identification code 
      ----------------------------------  ------------------------------------ 
 b)    Nature of the transaction           Issue of Equity in lieu of fees 
      ----------------------------------  ------------------------------------ 
 c)    Price(s) and volume(s)               Price(s)   Volume(s) 
                                             5.44p      64,396 
                                              3.53p      160,852 
                                              4.78p      219,516 
                                                       ---------- 
      ----------------------------------  ------------------------------------ 
        Aggregated information 
          *    Aggregated volume 
 
 
 d)       *    Price                         444,764 
      ----------------------------------  ------------------------------------ 
 e)    Date of the transaction             11 May 2023 
      ----------------------------------  ------------------------------------ 
 f)    Place of the transaction            XLON, AIM 
      ----------------------------------  ------------------------------------ 
 
 
       Details of the person discharging managerial responsibilities/person 
        closely associated 
 a)    Name                             Laurence Robb 
      -------------------------------  --------------------------------------- 
 2     Reason for the notification 
      ------------------------------------------------------------------------ 
 a)    Position/status                  Non-Executive Director 
      -------------------------------  --------------------------------------- 
 b)    Initial notification/            Initial notification 
        Amendment 
      -------------------------------  --------------------------------------- 
 3     Details of the issuer, emission allowance market participant, 
        auction platform, auctioneer, or auction monitor 
      ------------------------------------------------------------------------ 
 a)    Name                             Andrada Mining plc 
      -------------------------------  --------------------------------------- 
 b)    LEI                              213800FKOXWBL6JBVH90 
      -------------------------------  --------------------------------------- 
 4     Details of the transaction(s): section to be repeated 
        for (i) each type of instrument; (ii) each type of transaction; 
        (iii) each date; and (iv) each place where transactions 
        have been conducted. 
      ------------------------------------------------------------------------ 
 a)    Description of the               Ordinary share 
        financial instrument,            GG00BD95V148 
        type of instrument 
        Identification code 
      -------------------------------  --------------------------------------- 
 b)    Nature of the transaction        Issue of equity (in lieu of fees) 
      -------------------------------  --------------------------------------- 
 c)    Price(s) and volume(s)            Price(s)   Volume(s) 
                                          5.78p      155,807 
                                           5.44p      165,189 
                                           3.53p      137,873 
                                           4.78p      188,156 
                                                    ---------- 
      -------------------------------  --------------------------------------- 
        Aggregated information 
          *    Aggregated volume 
 
 
 d)       *    Price                      647,426 
      -------------------------------  --------------------------------------- 
 e)    Date of the transaction          11 May 2023 
      -------------------------------  --------------------------------------- 
 f)    Place of the transaction         XLON, AIM 
      -------------------------------  --------------------------------------- 
 
 
 Andrada Mining Limited 
  Anthony Viljoen, CEO 
  Sakhile Ndlovu, Head of Investor 
  Relations                            +27 (11) 268 6555 
 Nominated Adviser 
 WH Ireland Limited 
  Katy Mitchell                        +44 (0) 207 220 1666 
 Corporate Advisor and Joint Broker 
 H&P Advisory Limited 
  Andrew Chubb 
  Jay Ashfield 
  Matt Hanson                          +44 (0) 20 7907 8500 
 Stifel Nicolaus Europe Limited 
  Ashton Clanfield 
  Callum Stewart 
  Varun Talwar                         +44 (0) 20 7710 7600 
 Tavistock Financial PR (United 
  Kingdom) 
  Emily Moss 
  Catherine Drummond 
  Adam Baynes                          +44 (0) 207 920 3150 
 

About Andrada Mining Limited

Notes to editors

Andrada Mining Limited is a London-listed technology metals mining company with a vision to create a portfolio of globally significant, conflict-free, production and exploration assets. The Company's flagship asset is the Uis Mine in Namibia, formerly the world's largest hard-rock open cast tin mine.

Lithium laboratory test work completed during the 2022 calendar year indicated a high-grade, ultra-low iron lithium petalite concentrate. The test work to convert lithium petalite concentrate to battery-grade lithium hydroxide was initiated with Nagrom, a leading Australian processing company, and commercial engagements with lithium petalite concentrate off - takers are on-going.

An exploration drilling programme is currently underway with the aim of expanding the tin resource over the fourteen additional, historically mined pegmatites, all of which occur within a 5 km radius of the current processing plant. The Company has set a mineral resource target of 200 Mt to be delineated within the next 5 years. The substantial mineral resource potential allows the Company to consider economies of scale.

Andrada is managed by a board of directors with extensive industry knowledge and management team with deep commercial and technical skills. Furthermore, the Company is committed to the sustainable development of its operations and the growth of its business. This is demonstrated by how the leadership team places significant emphasis on creating value for the wider community, investors, and other key stakeholders. Andrada has established an environmental, social and governance system which has been implemented at all levels of the Company and aligns with international standards.

-END-

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