Question 1

What did Aterian say about Eastinco’s processing relocation in Kigali on the quarter ended 30 September?

Accepted Answer

Aterian said Eastinco’s move to a new 500-square-metre facility in Gahanga, Kigali caused a three-week disruption in the quarter ended 30 September, delaying new supply-arrangement contributions into Q4 2026.

Question 2

What trial has Eastinco started for tungsten?

Accepted Answer

Eastinco began a controlled, lot-by-lot trial trading tungsten ore and concentrates to test supplier performance, product specifications, pricing, and traceability before any scale-up.

Question 3

How much third-party funding does the Lithosquare JV provide for Aterian’s 2026 programme?

Accepted Answer

Lithosquare provides €1.0m of third-party funding to fully finance planned drilling and associated work across nine projects in Morocco and Botswana for Aterian’s 2026 programme.

Question 4

What are the initial equity and royalty terms of Aterian's Lithosquare joint venture?

Accepted Answer

The Lithosquare joint venture envisages an initial 15% participating interest and a 0.5% net smelter return (NSR) for Lithosquare on satisfaction of its investment obligations, with scope for further equity/NSR via milestones.

Question 5

What loan note terms did Aterian state would fund Eastinco’s tungsten trial?

Accepted Answer

Aterian said it will fund Eastinco’s tungsten lot-by-lot trial via an approximately £180,000 zero-coupon convertible loan note, convertible at 25p per share or automatically on 31 December, plus 300,000 warrants expiring 15 February 2028.

Question 6

How does Aterian run its downstream trading operations?

Accepted Answer

Aterian runs downstream trading through its Rwandan subsidiary Eastinco, which purchases and sells mined material from artisanal and small-scale miners under procurement and responsible-sourcing procedures.

Timeline

ATERIAN

Aterian's Eastinco posts fourth straight quarterly profit

Aterian's Eastinco starts tungsten trading trial

Aterian starts AI-guided drone survey in Botswana copper belt

Aterian defines copper-silver targets at Agdz East

Aterian posts Rwanda trading profit despite tin and tantalum price drop

Aterian launches field exploration in Morocco and Botswana

Aterian completes joint venture with Lithosquare to fund €1m exploration across Morocco and Botswana

Aterian widens annual loss as exploration and trading build-out continues

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