Andromeda Metals Ltd (ASX:ADN) managing director Bob Katsiouleris speaks with Proactive after the company delivered a 65% increase in the net present value (NPV) of the world-class Great White Project (GWP) to reach $1.01 billion following a commercial review of the construction-ready South Australian kaolin project. The results of the review, contained in an updated definitive feasibility study (DFS), also delivered a 59% higher average annual earnings before interest tax depreciation and amortisation (EBITDA) of $130 million. The commercial reassessment underlined the potential use of Andromeda's core kaolin products, Great White CRM and the Great White KCM 90, in established and burgeoning segments such as high-quality ceramic tiles and porcelain tableware.
The 2023 DFS represents the outcome of a rigorous commercial and business strategy review for commercialising our construction-ready project, to meet rising market demand, Katsiouleris said.
As we move to finalising debt funding, the 2023 DFS will underpin our funding strategy for the remaining capital required to move towards anticipated construction and into production.
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Andromeda Metals Ltd