Andromeda achieves 4N HPA at Continuous Pilot Scale

Key points

• Successfully produced 4N HPA at continuous pilot scale
• Independent analysis confirms 99.9986% HPA purity
• Advances commercialization and supports Pre-Feasibility Study
• Supports strategic HPA Supply Heads of Agreement with Traxys

Full summary

Andromeda Metals Limited (ASX: ADN) has achieved a significant milestone in its High Purity Alumina (HPA) Project by successfully producing HPA with a measured purity of 99.9986% through its continuous pilot plant using Great White kaolin. Independent analysis by EAG Eurofins confirmed the HPA purity, validating the successful production of 4N HPA under pilot plant conditions. This milestone follows Andromeda's previously announced strategic HPA Supply Heads of Agreement with Traxys North America and advances the Company towards customer evaluation. The pilot program will generate engineering and operating data to support process optimization and the planned Pre-Feasibility Study. The Company's 2025 HPA Scoping Study assessed a staged development of up to 10,000 tonnes per annum, with a pre-tax NPV10 of approximately A$1.48 billion and average annual EBITDA of approximately A$247 million, highlighting the potential scale and value of the HPA opportunity.

Guidance

Pre-tax NPV10 of approximately A$1.48 billion, average annual EBITDA of approximately A$247 million (2025 HPA Scoping Study)

Outlook

Andromeda is advancing towards customer evaluation, process optimization, and the planned Pre-Feasibility Study to further assess commercial scalability and value opportunities.