June 13, 2022
Saturday may 11, Investornytt released an in depth interview with Jørgen Evjen, our CEO. We believe it is a good reed for our investors and followers. The interview is in Norwegian. Click on tRead More
is a gold exploration and mining company focusing on projects along the Akobo river in southwestern Ethiopia, a prolific area with extensive alluvial gold production. Our story starts in 2009 with the launch of alluvial production as well as exploration in the Akobo area. The initial alluvial mining continued until 2013 when the decision was taken to focus on exploration rather than production. Since then Akobo Minerals has until October 2021 been a pure exploration company and our team has gathered extensive data from the area. Extensive and successful drill programs have been planned and started. In October 2021 Akobo Minerals received a large scale gold mining license for its Segele areaAbout
June 13, 2022
As we have reported the key numbers earlier, our high grade mining project in Segele is moving on as planned. Now the complete 3rd party Gold Deposit Mineral Resource report from SRK ConsultingRead More
The scoping study has focused only on the mineralization covered in the SRK mineral resource estimate (6th April 2021) allowing for an anticipated mine life of 27 months. Ongoing exploration has identified additional mineralization at depth which leaves open the opportunity to extend mine life.
The result confirms that the mineralization at Segele can be mined and processed with an estimated All In Sustaining Cost (“AISC”) of 243 USD per ounce, while the total life of mine operational expenditure, excluding royalties, is estimated at 137 USD per ounce. Total capital expenditure for setting up the mine plant to start production is estimated at 8 million USD, equaling an average of 153 USD per ounce for the current resource estimate of 52.410 ounces. This average will go down as more resources are added over time. The scoping study indicates what the potential economics of mining the Segele deposit can look like. The study has been completed with contributions from highly respected geologists, engineers and ESG practitioners (SRK Consulting, Sazani Associates, Goshawk Network Technologies and Borrego Sun).
To find out more about our mining preparations, read the whole Scoping Study here.
We support the local community.More
We maintain an excellent relationship with the local community by following high international standards on corporate governance and social responsibility.
We are developing several local initiatives in order to achieve a good working relationship with the local community and population.
We seek to comply with Scandinavian corporate governance standards, including the proper direction and control of all activities.
Akobo Minerals is listed on the Euronext Growth exchange in Oslo, under the ticker AKOBO. We have more than 3.500 shareholders.