#JustIn: Uis’ Andrada starts trading on OTCQB

Andrada Mining Ltd’s shares commence trading today on the OTCQB to access US retail investors and to broaden shareholder register.

The OTCQB, also called "The Venture Market," is the middle tier of the over-the-counter (OTC) market for US stocks.

Andrada owns the tin and lithium mine at Uis.

Andrada is also listed on the London’s Alternative Investment Market (AIM) and the Namibian Stock Exchange (NSX).

Anthony Viljoen, CEO of Andrada, said: "Admission to the OTCQB Market is a key step in Andrada's strategy to broaden the company's investor base by making its shares more accessible to the North American institutional and retail investors.

“This investor base is known for its understanding of, and strong appetite, for mining companies, particularly in lithium equities. To that effect, Andrada will start marketing and outreach efforts to US-based investors in the coming months to increase awareness of our significant near-term lithium project."

Andrada last week said it produced lithium concentrate in the form of a high purity petalite concentrate.

Potential offtakers have indicated that this concentrate composition represents a desirable lithium product, Andrada said. The concentrate will be used to conduct test work with potential offtakers, including petalite conversion to lithium carbonate and lithium hydroxide.

According to Andrada, the construction of an on-site lithium pilot plant is on schedule with completion due during next month, and commissioning expected to commence in July 2023.

The pilot plant will enable the company to expedite bulk pilot test work and increase pilot production of lithium concentrate.