BY MINING WEEKLY
Private UK-based junior miner Andiamo Exploration is seeking to raise $2 million to undertake exploration at its licences, in Eritrea, and continue the development of its mines.
Speaking at the Junior Mining Indaba, in Johannesburg, CEO Tim Williams on Thursday said the company, in which mineral exploration company Ortac Resources holds an 18.5% stake, was currently exploring the Haykota volcanogenic massive sulphide licence, which covered 271 km2. Continue reading Andiamo Exploration Raising Funds to Explore Eritrea Licences
Ortac holds 26.99% stake in Andiamo Exploration Ltd, which holds the Haykota licence, prospective for copper and gold.
By Proactive Investor,
Ortac Resources Ltd (LON:OTC) shares surged over 7% as it hailed a potential 25% stake being taken in its Eritrea exploration partner Andiamo.
The AIM-quoted firm holds a near 27% stake in the latter, which holds the Haykota exploration licence, prospective for copper and gold.
In the summer, the Eritrean Government granted Andiamo an extension of 91 sq km to the license area to include ground known to host volcanogenic massive sulphide (VMS) targets. Continue reading Ortac Hails Potential Andiamo Investment in Eritrea