Half Yearly Report and Accounts

During the period 1 July to 31 December 2025, the primary focus for Andromeda has been to continue the advancement of the Great White Project (GWP) while also progressing the potential to become a low-cost producer of the high-value critical mineral, high-purity alumina (HPA Project). 

The Great White Project

The Company continued moving towards making a final investment decision for the initial Stage 1A+ development of GWP while progressively de-risking the project and evaluating funding arrangements.

Project Funding

During the period, the Company progressed its global cornerstone equity funding process as part of a broader project funding strategy to support the development of Stage 1A+ of the GWP.  Due diligence processes and discussions on terms and documentation were progressed to an advanced stage with a cornerstone equity investor, for an investment at the asset level for both the GWP and the HPA Project.  The process is in its final stages but has experienced delay due to recent geopolitical events in the Middle East.

High Purity Alumina (HPA) Project

While the GWP remained the Company’s primary focus, the opportunity for Andromeda to become a low-cost producer of the high-value critical mineral HPA, was progressed.

During the period, a Scoping Study was completed, demonstrating market-leading economics of producing the critical mineral HPA from high-quality Great White kaolin using Andromeda’s innovative technology.