Andrada Mining intends to raise more than N$289 million (£11.9 million) for the installation of ore sorters, infrastructure upgrades, the completion of the pre-concentration circuit at the existing Uis processing plant, and the commissioning of the Jig plant, as well as enhancing the balance sheet.
A proposed placement of 150 million shares aims to raise about N$143.4 million (£5.9 million), while a strategic equity subscription by Talent10 Resources Proprietary Limited targets N$109.4 million (£4.5 million).
Additionally, N$36.5 million (£1.5 million) will be raised through an accelerated book build conducted by H&P Advisory Limited, which will involve both new and existing institutional investors.
The net proceeds from the placing will be used to enhance the company’s balance sheet and supplement general working capital requirements.
From the amount, about £2.6 million (US$3.5 million) will be allocated for the ore sorters and £1.8 million (US$2.5 million) for accelerating the commissioning of the Jig.
Together, the Circuit and Jig are anticipated to accentuate the production profile at the company’s processing facility.
Talent10 is a private investment company established in 2012 with a focused yet diversified portfolio spanning the mining, energy, technology, media, and industrial sectors.
Talent10 is known for its non-conventional approach to investment, identifying high-potential opportunities in emerging and often underexplored industries.
By combining financial agility with long-term strategic thinking, Talent10 aims to support ventures that contribute to economic development and future-facing industrial capacity.
*Rate £=N$24.32
