Andiamo exploration was incorporated in England in 2008 (no 6515287). The company is managed from the UK and South Africa and has been exploring and evaluating the Haykota licence area in southwestern Eritrea since 2009.
Andiamo was founded by two geoscientists with unique experience of the geology and mineral deposits of Eritrea: Dr Seife Berhe, a respected and influential Eritrean geologist with a PhD in remote sensing from the UK Open University; and Dr Tim Williams who has 40 years’ experience with major companies, juniors and mining finance and has worked in Eritrea since 1995. Dr Williams retired in April 2020, and was replaced as CEO by Theo Botoulas, who has experience in building gold mines.
Systematic exploration identified many targets, which are being evaluated. The most advanced is Yacob Dewar, a small but potentially very profitable gold deposit. Andiamo received a maiden independent mineral resource report for the Yacob Dewar gold deposit in March 2013. The licence was extended southwards by about a third in September 2016 to include many promising new targets.
The Haykota Exploration licence is in good standing and the company is compliant with its reporting and expenditure commitments. Andiamo has invested approximately $15M of equity and joint venture funding in exploration to date.