Aug 21
OSLO, 21 August 2023: Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has decided to apply for trading on the OTC Markets platform in the United States. While Akobo Minerals already has a full listing on two markets in Europe, there are several […]
Aug 14
OSLO, 14 August 2023: Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has appointed Professor Steven Rupprecht as Mine Manager and Strategic Adviser to its operation situated in south-west Ethiopia. Prof Rupprecht is an internationally recognized corporate consultant with over 35 years’ experience […]
Aug 09
OSLO, 09 August 2023: Akobo Minerals AB (publ) (Euronext and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced that it has signed an agreement with MKS PAMP for a range of gold refinery-related services. The company – one of the most respected precious metals industry players – is an independently operated […]
Jul 05
Kicking off our Sustainable Community Campaign, with a football match and community waste collection, Akobo Minerals celebrated the opening of Chamo Community Eco-Hub and Training Centre, constructed from discarded plastic bottles. Over the last six months, Akobo Minerals ESG Team have been working with the community to actively raise awareness about healthy and sustainable […]
Jun 15
Akobo Minerals’ own motto for International Day of Women in Mining 2023, alongside the day’s theme of ‘Equity in Mining is Everyone’s Responsibility’ is ‘You have to see to want to be’. Our female employees are an inspiration for women in Ethiopia and East Africa, breaking boundaries as part of the #miningindustry. With 30% of […]
Dec 05
Akobo Minerals has announced that it was commended for the 2022 Environment, Sustainability and Governance (ESG) Explorer and Developer of the Year award by Mines and Money. The successful companies were announced at the Mines and Money London conference – Europe’s leading mining investment event – and is the second year in a row that […]
Oct 31
Akobo Minerals has announced that it has been nominated for the 2022 Environment, Sustainability and Governance (ESG) Explorer and Developer of the Year by Mines and Money. The successful company will be announced at the Mines and Money London conference – Europe’s leading mining investment event – taking place 29th November to 1st December. This […]
Jun 13
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 the image to read.
Jun 13
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 Consulting is avaliable for you to read. At the Q1 presentation may 23, our CEO, Jørgen Evjen, informed that the 100th hole at […]
May 11
Extending shared values through transparency, communication and engagement are the watchwords for Akobo in building strong local ties, as practiced in our recent successful multi-stakeholder meeting in Dimma Town, Ethiopia, with federal and local government to artisanal miners, NGOs and Annuak Elders. I am proud that Akobo Minerals is living up to its conviction to […]
May 09
We have reached an agreement with the South African company Solo Resources (Pty) Ltd for delivery of a processing plant for production of gold at the Segele Mine. An important milestone for our mining operation and targeted cash flow. With this agreement, I am confident that we will be produce gold from the Segele mine […]
May 03
Our ongoing exploration activities unveil new encouraging findings as we drill tested two new targets around Segele within 500m distance. Our exploration team has discovered a new gold mineralisation zone including a visible gold intersection. Moving on, we are preparing for a soil geochemical sampling program between Segele and Joru, and for a ground geophysical […]
Apr 25
Few, if any, other commercial gold mines are operating at a gold grade of 40,6 gram per ton indicated mineral resource. Now it’s time to start collect the gold underneath our feets. A significant gold mineral resource increase and classification upgrade will make our mining project in Segele unique in a global perspective. 22 April […]
Mar 11
Today we have appointed SpareBank 1 Markets AS (SB1) to advise on project financing for our upcoming gold mining operation for the Segele deposit. As financial adviser, SB1 will work closely with the Company to explore relevant funding opportunities such as equity, bank debt and offtake agreements, along with other strategic options that are available […]
Mar 07
An important milestone for our company as we performed in a ceremony to mark the start of the company’s next phase towards mining and gold production in Segele. Initial production is expected to commence by the end of 2022, ramping-up into 2023. Once fully operational, we estimate an annual production at Segele of around 45,000 […]
Mar 04
Today we renewed our existing exploration license of 182 km2 in the Akobo region. This will secure a strong long-term position for both mining and exploration activities for the company. The renewal is a result of many years of positive relationships with the Ministry of Mines, and the continued efforts to develop and progress our […]
Mar 02
Today we intersected visible gold at 282 metres vertical depth, as well as seeing signs of further potential gold mineralisation in several sections along this latest hole. All indicators point to a belief that our Segele mine can be sustained for much longer than previously envisaged. The previous deepest intersection of gold mineralisation was at […]
Feb 24
Dr Cathryn MacCallum is head of ESG, responsible for furthering the company’s environmental, social and governance (ESG) initiatives. In this interview, she explains who Akobo Minerals is and why she believes every business should be investing in a robust company-wide ESG program. Cathryn also explains why it reduces business risk and has a positive impact […]
Feb 21
MON, FEB 21, 2022 08:30 CET Akobo Minerals AB (publ) (EURONEXT: AKOBO) today reported its fourth quarter 2021 results. Akobo Minerals is still in a project development phase and consequently had no income in the fourth quarter. The net profit for the period was SEK 0.22 million due to significant positive foreign exchange effects. In […]
Feb 21
We have signed a memorandum of understanding (MOU) with the Ethiopian commercial bank, Oromia Bank. A cooperation aimed to develop domestic services related to financing new exploration and mining projects with international standards. Together, these services can support the advancement of Ethiopia’s domestic mining industry. With this collaboration, we aim to become the leading industry […]
Feb 17
Today we have released results of the next set bonanza gold grade results from our Segele mine development project. “These new results support our belief that we can maintain peak production for longer than calculated in our original scoping study” Jørgen Evjen, CEO at Akobo Minerals AB Specifically, the results, from laboratory testing, inspection, certification […]
Feb 17
We’re celebrating a century, having just completed our 100th exploration drill hole at Segele! And this is just the start. Congratulations to our great Akobo operations team in Ethiopia!
Feb 07
“Our maiden resource estimate done by SRK Consulting indicates 52 000 oz at 20.9 g/t on average, which is fairly astonishing.” Jørgen Evjen, CEO Akobo Minerals Another interesting article about Akobo Minerals in Mining Review Africa. Read the original article here. This is a copy oft the original article from Mining Review January 2022. It […]
Feb 02
New major civil engineering project will benefit both the company’s mine infrastructure and the local community OSLO, 2 February 2022: The first ever flight landed at a new airstrip which Akobo Minerals has funded and built in Dima. The Super King Air 350 twin-turboprop aircraft carried representatives from Akobo Minerals and the Ethiopian Civil Aviation […]
Jan 27
Mine Magazine just published an excellent feature article concerning gold mining in Ethiopia – along with input from our CEO Jørgen Evjen. Follow this link to read the full article in Mine Magazine We have also added a text version below. A new golden age: inside Ethiopian mining Driven by gold and supported by Canada, […]
Jan 25
OSLO, 25 January 2022. Akobo Minerals has appointed Dr Cathryn MacCallum as head of ESG to further the company’s environmental, social and governance (ESG) program. She takes up the post on 1st February 2022 as part of the company’s management team. We are grateful and exited to have Cathryn on board. We believe and experience that […]
Jan 13
Recent drilling has intersected visible gold at 205 meter. This result indicates that the high-grade gold mineralisation continues 50m further down dip than previously known. In addition to the visible gold previously reported on the extension drilling program at Segele, these latest results underpin the company’s belief that the Segele project can sustain a significant […]
Jan 06
Enjoy reading the Akobo story in the latest issue of Business Enquirer. People around the world are noticing our activity and, with Business Enquirers reach, we believe this will get the word out even further. “The new license gives us future-proofed flexibility and options and fuels our capability to be a leading player in the […]
Dec 22
We have concluded yet another transformative year for Akobo Minerals and would like to send special thanks to all our supporters – not least employees, shareholders, advisers, the Ministry of Mines, and more. Moving from an exploration company to mining gold is a dream come true for all of us. The long journey started back in […]
Dec 20
OSLO, 20 December 2021: Akobo Minerals (Euronext Oslo – “AKOBO”) announces that it has acquired 3 drill rigs from Protek Norr AB. The agreed tender is 400 000 SEK, including following items: Three Diamec 262 core drill rigs – two which are operational and one to be upgraded Three electrically powered hydraulic units Several spare […]
Dec 03
Akobo Minerals is delighted to announce it was shortlisted as ESG (Environmental, Social, and Governance) Explorer/Developer Mining Company of the Year at this week’s Mines & Money London, the premier European forum for mining investment and capital raising. Every employee can be proud of the part they have played in helping to build our world […]
Nov 25
THU, NOV 25, 2021 08:42 CET Akobo Minerals AB (publ) (EURONEXT: AKOBO) today reported its third quarter 2021 results. Akobo Minerals is in a project development phase and consequently had no income in the third quarter. The net loss for the period was SEK 5.1 million, and SEK 10,1 million for the first three quarters. […]
Oct 25
As part of our strategy to start mining gold in addition to the successful exploring business, Akobo Minerals paves the way for a resurgent Ethiopian mining industry clearing a major hurdle for investors being granted the right to hold and repatriate foreign currency from offshore accounts. On the 30th of September, Akobo Minerals and the Ministry […]
Oct 12
Akobo Minerals has received the testwork results from the Peacocke and Simpson Laboratory. The positive results of these gold extraction tests give potential for greater than expected revenue generation to that proposed in the Scoping Study (27.09.2021), at similar operating costs. The metallurgical testwork gives an indication of how much gold is expected to be […]
Oct 08
Akobo Minerals will soon be working with a total of three core drilling rigs in field, including one company owned drill rig. The experience and performance with the first drill rig from MIDROC Geo/Exploration Services PLC (“MIDROC”) has met expectations hence a contract amendment has been signed for a second drill rig to be engaged. […]
Oct 05
Akobo Minerals continues development of its Environmental and Social Impact Assessment (“ESIA”) – an important step in the development towards start of mining at the Segele Project. An ESIA contract has been awarded to TS Environment Technology Plc, a leading provider of such services in Ethiopia; TS Environment has undertaken over 50 ESIA studies and […]
Sep 27
Very favorable project economics and low production cost anticipated Akobo Minerals continues to deliver on its timetable and promises. After 10 years of exploration work culminating in a JORC compliant Maiden Resource Estimate earlier this year, followed recently by grant of a large scale gold mining license, we now release our scoping study for the […]
Sep 23
Akobo Minerals is pleased to announce that the Ethiopian Council of Ministers has today accepted the Large Scale Mining Licence application submitted by the company on the 7th of September 2021. The application was developed in close dialogue with the Ministry of Mines and Petroleum with whom the company intends to continue its successful partnership. […]
Sep 15
Akobo Minerals AB (publ) (“Akobo” or the “Company”) announces that the total number of shares in the Company has increased by 1,358,000 from 41,154,606 to 42,512,606 as of September 15, 2021 as a result of registration with the Swedish Companies Registration Office of new shares subscribed for with the support of warrants issued at the […]
Sep 07
Akobo Minerals has today applied for a large scale gold mining license. After more than 10 years of exploration work, an application was submitted in close dialogue with the Ministry of Mines and Petroleum. Ongoing successful drilling and a high-grade mineral resource from Segele supports our view that mining will be an important and integral […]
Aug 30
The metallurgical testwork forms a key part of the mining preparations and involves a series of laboratory tests to determine which series of equipment will most efficiently extract the gold from the mineralisation. From one mine to another, the nature of gold deposits varies greatly in their complexity, and each deposit required the extraction equipment […]
Aug 27
Akobo Minerals AB has entered into a market making agreement with SpareBank 1 Markets AS. The purpose of the agreement is to enhance liquidity in the trading of the company’s shares. The agreement is in accordance with the standard requirements of Euronext Oslo Stock Exchange. First day of market making will be 1st of September […]
Aug 26
Oslo Norway, 26 August 2021. Participants in Akobo Minerals AB 2018 warrant program, now expiring the 31 August 2021, have on 26 August 2021 exercised warrants and subscribed for a total of 1,358,000 shares at a strike price of SEK 0.86. Following the registration of the new shares, the Company will have 2,677,000 outstanding shares […]
Aug 26
Akobo Minerals AB (publ) (EURONEXT: AKOBO) today reported its first half year 2021 results. Akobo Minerals is in a project development phase and consequently had no income in the first half. The net loss was SEK 5.6 million, compared to a loss of SEK 5 million in the first half of 2020, as the project […]
Aug 21
Akobo Minerals AB will release its first half year results 2021 on Thursday 26 August at 08.00 CEST. The results will be presented in a webcast with CEO Jørgen Evjen and COO Matt Jackson at 10.00 CEST. The presentation and subsequent Q&A session will be held in English and may be viewed live at […]
Aug 12
Akobo Minerals hits several high grade intersections in the first test holes at JORU. Akobo Minerals has for many years worked to advance the understanding of our primary targets SEGELE and JORU. SEGELE has so far shown to be a truly amazing high grade deposit, attracting considerable interest as a result of the high- and […]
Jul 23
The new intercepts include 45.3g/t over 0.48m and 13.8g/t over 1.43m and will be included in the next Mineral Resource Estimate. The mineralization remains open at depth. Akobo Minerals released the result of the Segele Mineral Resource Estimate in April 2021 (Inferred Mineral Resource totalling 52,410oz at an average grade of 20.9g/t). The resource estimate […]
Jul 13
The attached information document has been prepared by Akobo Minerals AB (publ.) (“Akobo” or the “Company”) solely for use in connection with the admission to trading of the Company’s shares on Euronext Growth Oslo. The first day of trading in the Company’s shares on Euronext Growth Oslo will be 14 July 2021. SpareBank 1 Markets […]
Jul 12
Reference is made to the announcement by Akobo Minerals AB (publ.) (“Akobo” or the “Company”) on 6 July 2021 regarding the resolution to increase the Company’s share capital. The share capital increase has today been registered with the Swedish Register of Business Enterprises. The share capital of Akobo is SEK 1,529,302.226797, comprising 41,154,606 shares, each […]
Jul 08
Akobo Minerals is pleased to announce the signing of an agreement with MIDROC Geo/Exploration Services in Addis Ababa to supply a second drill rig to start core drilling on the Segele deposit. The drill rig will mobilise to the Akobo region shortly and the company anticipates that the drilling will start upon arrival in field. […]
Jul 07
Akobo Minerals announces that Erik Haugane has joined the Board of Directors. He was elected as new member of the Board on the annual general meeting held 18.06.2021. “We are very pleased to have Erik join our Board of Directors. He has valuable experience in developing exploration companies, from inception to production. This is highly […]
Jul 06
PIR Invest Holding AS, a close associate to board member Hans Olav Torsen, has been allocated 172,976 shares in the private placement resolved by Akobo Minerals AB (publ.) today at a price per share of SEK 7.44934. Following the transaction PIR Invest Holding AS holds 5,430,512 shares in the company. This information is subject to […]
Jul 06
Reference is made to the announcement by Akobo Minerals AB (publ.) (“Akobo” or the “Company”) on 5 July 2021 where Oslo Børs decided to admit the Company to trading. In connection with and prior to the admission to trading at Euronext Growth, the Company has today resolved to increase the Company’s share capital with SEK […]
Jul 05
Oslo Børs has received an application from Akobo Minerals AB for admission to trading on Euronext Growth. The Oslo Stock Exchange has decided to list the shares in the company. It is assumed that the company meets the admission requirements for Euronext Growth before the first trading day. It is expected that the company will […]
Jun 24
Financial calendar for Akobo Minerals AB (publ) FINANCIAL YEAR 2021 26.08.2021 – Half-yearly Report 25.11.2021 – Quarterly Report – Q3 This information is published pursuant to the requirements set out in the Continuing obligations.
Jun 21
NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE “UNITED STATES”), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF […]
Jun 18
NOT FOR DISTRIBUTION OR RELEASE, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO THE UNITED STATES OF AMERICA (INCLUDING ITS TERRITORIES AND POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA AND THE DISTRICT OF COLUMBIA) (THE “UNITED STATES”), AUSTRALIA, CANADA, THE HONG KONG SPECIAL ADMINISTRATIVE REGION OF THE PEOPLE’S REPUBLIC OF […]
Jun 18
The annual general meeting in Akobo Minerals AB (publ) (the “Company”) was held today on 18 June 2021 at 10:00 (CET) in the Company’s offices at Södra Allégatan 13, 413 01 Gothenburg, Sweden. The minutes from the annual general meeting is attached hereto. The Annual report 2020 can be found at the Company website. https://akobominerals.wpengine.com/investors/reports-documents/ […]
May 25
Akobo Minerals AB (publ) (the «Company»), a Norway-based gold exploration company with operations in Ethiopia, confirms as previously communicated that it intends to carry out an equity private placement (the “Contemplated Equity Financing”) and apply for a listing of the Company’s shares on Euronext Growth Oslo during 2021. Details of the Contemplated Equity Financing have […]
May 18
Akobo Minerals announces that Tesfaye Medhane has joined our Ethiopian company Etno Mining as General Manager. In his new role, Tesfaye will oversee all aspects of managing Etno Mining and will be responsible for all facets of the exploration and future mining operations at the Akobo project. “We are very pleased that Tesfaye Medhane has […]
May 18
The shareholders of Akobo Minerals AB (publ), are hereby summoned to the Annual General Meeting on 18 June 2021 at 10.00 in the Company’s premises at Södra Allégatan 13, 413 01 Gothenburg. Information due to the coronavirusAs a precautionary measure to reduce the risk of spreading the coronavirus, the board has decided that no food […]
May 05
Akobo Minerals AB (publ) (the “Company”) announces that the total number of shares has increased by 55 000 to 34 487 940 in the Company as of May 5, 2021 as a result of registration with the Swedish Companies Registration Office of new shares subscribed for on the basis of warrants issued 2018-08 -31. The […]
Apr 26
After the latest drilling at Segele, and receiving a successful maiden resource estimate, the drill rig has now moved to the next exciting target at Joru for some initial drilling. Joru is very different from Segele, both in mineralogy and also expected gold grade. Joru is a very large area, with expected lower grade gold […]
Apr 09
Akobo Minerals announces that Johan Sjöberg will rejoin the company as Chief Exploration Manager on the 1st of May. Johan was previously CEO of Akobo Minerals from 2018 to 2020, so he has very good knowledge of the project and our organization. Lately he has been working as a Geologist consultant for EMX in Sweden, […]
Apr 06
Inferred Mineral Resource of 78 Kilotons at 20,9g/t gold above a cut-off of 0,5g/t gold, equal to 52.410 oz of gold. Table 1: Segele Gold Deposit Mineral Resources as at 6 April 2021 Classification Cut-off (Au g/t) K tons Au (g/t) Au Ounces Measured ≥0,5 0 0 0 Indicated ≥0,5 0 0 0 Inferred ≥0,5 78 20,9 […]
Mar 31
Akobo Minerals has engaged Sazani Associates to perform the company’s first ESG study with the intention of developing a Sustainable Natural Resource Management Plan (SNRMP) within 6 months. This week, Sazani will begin a situation analysis which identifies the risks and opportunities related to gold mining at the Akobo project. In the coming months the […]
Mar 03
Following the recent exciting gold assay results, Akobo Minerals AB is pleased to announce that SRK Consulting (Australasia) Pty Ltd has begun their work on the maiden mineral resource estimate for the Segele gold target. SRK is a world leading specialist within exploration and mining consultancy and has experience from working on over 20,000 projects […]
Feb 23
Akobo Minerals is pleased to announce that they have received new assay results back from the ALS Ireland laboratory regarding the Segele gold target. Many high grade assays have been returned, including new significant intersections of 131g/t over 2.5m and 17g/t over 13m (see Table 1). These results complement previous bonanza and high grade assay […]
Feb 15
The Segele gold target was first discovered by Akobo Minerals geologists and previous assays from diamond-drilling have demonstrated high- and bonanza-grade results within a narrow (approx. 20m wide) gold zone. The gold is predominantly present as large grains easily visible to the naked eye (coarse-gold type mineralization). See company presentation for more details (21st January […]
Jan 27
As previously communicated, the Akobo Minerals AB (publ) (“Akobo Minerals” or the “Company”) has worked to facilitate trading in the Company’s shares at the Euronext NOTC list. The Company is pleased to announce that this will be in effect from Thursday 28 January 2021. Akobo Minerals will be registered on the Euronext NOTC-list with ticker […]
Dec 28
Akobo Minerals has successfully raised 20mSEK in new equity from both existing and new shareholders. The share issue was significantly oversubscribed and upsized from the initial target of raising 10mSEK. “We are grateful for the continued support from existing shareholders, and welcome new shareholders on board. We look forward to an exciting 2021 that will establish our highly anticipated first maiden resource estimate.”, says Jørgen Evjen, CEO of Akobo Minerals. The newly raised capital will be used to fund the current […]
Nov 24
Akobo Minerals AB (publ) (”Bolaget”) meddelar att det totala antalet aktier ökat med 8 000 000 till 34 432 940 i Bolaget per den 24 november 2020 till följd av registrering hos Bolagsverket av den per den 2 november 2020 av styrelsens beslutade riktade emissionen av aktier med stöd av bemyndigande från extra bolagsstämman den 12 oktober […]
Nov 18
Akobo Minerals AB (publ) (”Bolaget”) meddelar att det totala antalet aktier ökat med 610 000 till 26 432 940 i Bolaget per den 18 november 2020 till följd av registrering hos Bolagsverket av nya aktier tecknade med stöd av teckningsoptioner utgivna 2018-08-31 och 2020-10-12. Bolagets aktiekapital ökade med 22 667,6 SEK till 982 245,118237 SEK. Samtliga aktier i […]
Nov 09
Akobo Minerals today announced that Dr. Matt Jackson will join the company as Chief Operating Officer on the 1st of December. Matt was most recently a Director for Mining and Exploration with BluestoneGeo, where he worked on discovery and review of investment opportunities and liaison with partners in Europe and Asia. Matt was also responsible […]
Oct 23
Akobo Minerals AB (publ) (”Bolaget”) meddelar att det totala antalet aktier ökat med 30 003 till 258 229 400 i Bolaget per den 23 oktober 2020 till följd av registrering hos Bolagsverket av den per den 12 oktober 2020 av extra bolagsstämman beslutade riktade emissionen av aktier till Pir Invest AS. Bolagets aktiekapital ökade med 111,491148 […]
Oct 12
Aktieägarna i Akobo Minerals AB (publ) (”Bolaget”) har den 12 oktober 2020 hållit extra bolagsstämma i Göteborg, varvid följande huvudsakliga beslut fattades. Stämman beslutade att bemyndiga styrelsen att för tiden intill nästa årsstämma, vid ett eller flera tillfällen med eller utan avvikelse från aktieägarnas företrädesrätt fatta beslut om nyemission av upp till 100 000 000 aktier, […]
Oct 06
Registrering av riktad nyemission hos Bolagsverket innebär nytt antal aktier i Akobo Minerals Akobo Minerals AB (publ) (”Bolaget”) meddelar att det totala antalet aktier ökat med 1 177 240 till 258 199 397 i Bolaget per den 6 oktober 2020 till följd av registrering hos Bolagsverket av den per den 30 september 2020 av styrelsens […]
Sep 30
Styrelsens beslut om riktad nyemission av aktier till Arctic Drilling AS Styrelsen för Akobo Minerals AB (publ) (”Bolaget”) beslutade 2020-09-30, med stöd av bemyndigande från årsstämman 2020-06-30, att öka Bolagets aktiekapital med högst 4 374,62384 SEK genom nyemission av högst 1 177 240 aktier. Teckningskursen är 0,45 SEK per aktie. Rätten att teckna aktierna ska, med avvikelse […]
Sep 15
The Ethiopian Ministry of Mining and Petroleum has released a very informative investment guide for those interested in learning more. The guide is designed to provide a clear picture of Ethiopia’s mineral resources, their geology, and the nature of the opportunity for each commodity. It sets out clearly the legal and regulatory framework for Ethiopian […]
Sep 08
Registrering av riktad nyemission hos Bolagsverket innebär nytt antal aktier i Akobo Minerals Akobo Minerals AB (publ) (”Bolaget”) meddelar att det totala antalet aktier ökat med 1 356 093 till 257 022 157 i Bolaget per den 8 september 2020 till följd av registrering hos Bolagsverket av den per den 2 september 2020 av styrelsens beslutade riktade emissionen […]
Sep 02
Styrelsens beslut om riktad nyemission av aktier till Arctic Drilling AS Styrelsen för Akobo Minerals AB (publ) (”Bolaget”) beslutade 2020-09-02, med stöd av bemyndigande från årsstämman 2020-06-30, att öka Bolagets aktiekapital med högst 5 039,241588 SEK genom nyemission av högst 1 356 093 aktier. Teckningskursen är 0,45 SEK per aktie. Rätten att teckna aktierna ska, med avvikelse […]
Jul 17
GEO365.no has written an interesting and informative article about Akobo Minerals (in Norwegian).
Jul 03
Akobo Minerals, a Norway-based gold exploration company with operations inEthiopia, has resumed drilling after 3 months of stop in activity due to the COVID-19 situation. Our crew has again been mobilized for the resumption of drilling in Segele, and the first hole has alreadybeen drilled. Visible gold is occurring through 3.5m in the core, continuing […]
Jun 30
Årsstämma i Akobo Minerals Aktieägarna i Akobo Minerals AB (publ) (”Bolaget”) har den 30 juni 2020 hållit årsstämma i Göteborg, varvid följande huvudsakliga beslut fattades. Stämman beslutade fastställa resultat- och balansräkning enligt framlagd årsredovisning. Resultatet disponeras så att i ny räkning överförs 19 649 187 kronor. Styrelsen och verkställande direktören beviljades ansvarsfrihet för räkenskapsåret 2019. Vidare […]
Jun 16
Registrering hos Bolagsverket innebär nytt antal aktier i Akobo Minerals Styrelsen för Akobo Minerals AB (publ) (”Bolaget”) beslutade 2019-09-12, med stöd av bemyndigande från årsstämman 2019-06-28, att uppta ett konvertibelt lån om sammanlagt högst 3 080 000 SEK genom emission av högst 28 000 000 konvertibler. 2019-11-13 registrerades hos Bolagsverket att konvertibler tecknats, tilldelats och betalts […]
Jun 09
Jun 05
Akobo Minerals have today published a Competent Persons Report (CPR) for the Akobo Gold Projects. The CPR has been compiled by Dr Matt Jackson BSc Ph.D FAusIMM(CP) who is a Competent Person registered with FAusIMM in Australia. Dr Jackson is employed by the independent consultancy group BluestoneGEO. The report can be found here.
May 19
Registrering hos Bolagsverket innebär nytt antal aktier i Akobo Minerals Akobo Minerals AB (publ) (”Bolaget”) meddelar att det totala antalet aktier ökat med 2 652 300 till 229 290 233 i Bolaget per den 19 maj 2020 till följd av registrering hos Bolagsverket av den per den 13 maj 2020 av styrelsens beslutade riktade emissionen till Arctic […]
May 15
Akobo Minerals have the pleasure to anounce assay results from trenching at the Joru gold prospect.Please refer to our press release (in Swedish)
May 15
Akobo Minerals (the “Company”), a Norway-based gold exploration company with operations in Ethiopia, has commenced preparations for an initial public listing of the Company on Merkur Market, a multilateral trading facility (MTF) part of the Euronext owned Oslo Stock Exchange in Norway. After ten years of extensive field work, and lately with a highly successful […]
Feb 13
The ongoing drill program at the Segele gold deposit has intersected spectacular gold mineralisation in the third drill hole of the current campaign. The first intersection is at 44m hole depth and over a metre-wide interval several lenses/veins with coarse grained gold has been observed. A second zone was noted further down in the hole […]
Feb 10
Jan 28
Guldpriset når nya rekordnivåer Guldpriset i svenska kronor nådde nya rekordnivåer under måndagen med en toppnotering om 492,87 kr/g. Detta är en del av guldets långtgående trend uppåt, en trend som under de senaste åren har förstärkts av höga dollarkurser. För Akobo Minerals AB är denna långsiktiga trend en viktig del av vår grund till […]
Nov 14
Akobo Minerals AB har tecknat kontrakt om 3000-5000m kärnborrning på guldfyndigheterna Segele och Joru i Akobo-området. Vi bedömmer att borrningarna kommer att inledas i slutet av December 2019 och vi emotser de första analysresultaten i februari eller mars 2020. Läs pressmeddelandet här.
Published: 2024-05-02UTC11:30:00
OSLO, 2 May 2024: Akobo Minerals AB (Euronext and Frankfurt: AKOBO) (OTCQX:AKOBF)
Akobo Minerals, a leading gold exploration and mining company based in Scandinavia with operations in Ethiopia, today provided an operational update highlighting important progress made in solving recent challenges with nationwide fuel supply disruptions and new customs procedures, finally enabling full site activity. Production start-up is as such delayed to July/August, but with the latest mine plan showing a significant revenue potential of 20 MUSD in the first few months of full production. The company informed about strategic initiatives started to evaluate ways of increasing efficiency in production and further reduce operational risk, in addition to strengthening local management capacity.
Key highlights
Operational update
The unforeseen nationwide diesel shortages and customs changes for duty free imports significantly impacted operations in recent months. Contingency plans were made, but the rapidly evolving situation proved more challenging than anticipated. With government support, these issues have been resolved for now.
The commissioning of the main plant has begun in some areas, with plans being made for Universal Power's arrival to commission generators. The remaining electrical cables are ready for connection, with progress being made on finalising diesel infrastructure and TSF membrane.
Production start-up timing is still uncertain but expected pushed to July/August. Efforts continue to finalize the processing plant and access the ore body. The arrival of critical mining equipment after a prolonged customs delay enables full ramp up of mining activities at site. The company has actively reduced site activity to minimize cash burn rate in the delay period.
As production increases and positive cash flow is achieved, Akobo Minerals will refocus on exploration to maximize project value.
For more information
Jørgen Evjen, CEO, Akobo Minerals
Mob: (+47) 92 80 40 14
Mail: jorgen@akobominerals.com
LinkedIn: www.linkedin.com/company/akobominerals
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold exploration and boutique mining company, currently holding an exploration license covering 182 km2 and a mining license covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia. The company has established itself as the leading gold exploration company in Ethiopia through more than 13 years of on-the-ground activity, which has now been enhanced further with the development of its Segele mine.
Akobo Minerals’ Segele mine has an Inferred and Indicated Mineral Resource of 68,000 ounces, yielding a world-class gold grade of 22.7 g/ton. Still open to depth, the gold mineralised zone continues to expand and will have a positive impact on future resource estimates and the life expectancy of the mine. The exploration license holds numerous promising exploration resource-building prospects in both the vicinity of Segele and in the wider license area.
Akobo Minerals has an excellent relationship with local communities all the way up to national authorities and the company places environment and social governance (ESG) at the heart of its activities – as demonstrated by a planned, industry-leading, extended shared value program.
Akobo Minerals has built a strong local foothold based on the principles of sound ethics, transparency and communication, and is ready to take on new opportunities and ventures as they arise. The company is uniquely positioned to become a major player in the future development of the very promising Ethiopian mining industry. The company is headquartered in Oslo and is publicly listed on the Euronext Growth Oslo Exchange and the Frankfurt Stock Exchange under the ticker symbol AKOBO. For US investors, Akobo Minerals AB (OTCQX: AKOBF) is traded on the OTCQX Best Market, adhering to high financial standards, best practice corporate governance, and compliance with U.S. securities laws. Additionally, the company has a professional third-party sponsor introduction, and investors can access current financial disclosures and Real-Time Level 2 quotes for the company on www.otcmarkets.com.
Akobo Minerals places great emphasis on meeting and exceeding industry standards, fully complying with all aspects of the JORC code, 2012. For detailed information on their adherence to this code, please refer to https://www.jorc.org/. Akobo Minerals' unwavering commitment to ethical practices, community engagement, and environmental responsibility positions them as a formidable force in the evolving landscape of the Ethiopian mining sector.
