Investor Presentaiton
Use of Proceeds - Pre-IPO Fundraising
.
US$2.4 million pre-IPO private placement of convertible debentures to:
.
Perform pilot-scale testing and metallurgical design at Yacob Dewar
Prepare logistics for a systematic and focused exploration programme on identified, drill ready targets in the Yacob Dewar, Shambotai
and Hoba mineralized area
.
Resume field operations and expedite new license application
Pursue a listing of the Company on AIM
•
Following completion of the fundraising, Andiamo will immediately commence the process for an AIM IPO (listing planned for Q1/Q2 2022),
raising approximately £4 to 8 million (approx. US$5 to 10 million) to:
Activity
Complete the Phase 1 Exploration Program on existing licences including drilling of 9 drill-ready targets over 14.5 km of strike in proximity to
Yacob Dewar; and
Undertake geological and geochemical work, trenching and sampling on the potential new licence area
GBP
US$
Head Office General and Administrative Costs
410,000
565,000
Eritrea and Mauritius: General and Administrative Costs
135,000
185,000
Haykota Technical and Field Work
660,000
900,000
Eritrea Field Costs (New Licence Area)
155,000
210,000
Fundraising and IPO Listing Costs
365,000
500,000
Working Capital and Other
Pre-IPO Total
25,000
40,000
£1,750,000
$2,40,000
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Andiamo
EXPLORATION LTD.
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