Proactive - Interviews for investors

Andromeda Metals updates on Great White Project

Episode Summary

Andromeda Metals Ltd acting CEO Sarah Clarke talked with Proactive’s Tylah Tully about the latest developments at the company’s Great White Project, a high-quality kaolin resource in South Australia. The project is positioned for growth, with key approvals in place, feasibility studies completed and offtake agreements secured. Clarke highlighted that the project would start production at 50,000 tonnes per annum, ramping up to 100,000 tonnes by year three. Offtake partners, including those in Japan, China and Europe, have committed to purchasing the full 100,000-tonne production, with key partner Traxys to scale its offtake with the company’s growth. Discussing market demand, Clarke noted that kaolin was a versatile mineral used in ceramics, pharmaceuticals, paints, coatings and paper. The company is also exploring new applications, including using kaolin to decarbonise concrete and produce high-purity alumina (HPA) for critical industries like LED lighting and lithium-ion batteries. Clarke also addressed funding progress, revealing a $90 million funding target through a mix of debt and equity. The company recently secured an Advance Finding that provides cash rebates of up to 43.5% on eligible Stage 1A+ development expenses.