Akobo Minerals announces third quarter preliminary results 2025

OSLO, 10 December 2025: Akobo Minerals AB (publ) (Euronext Growth Oslo and Frankfurt: AKOBO), the Scandinavian-based Ethiopian gold producer and explorer, today reported its results for the third quarter of 2025.

The company delivered revenues of SEK 22.9 million and achieved its first positive EBITDA, amounting to SEK 6.9 million. At the end of the quarter, the cash position was SEK 31.2 million. The company expects the fourth quarter to continue to deliver positive EBITDA.

IMPORTANT EVENTS IN THE THIRD QUARTER 2025

• First positive EBITDA result in Akobo’s history: ~USD 730k
• Gold production: ~21 kg @ 29.7 g/t; revenue ~USD 2.4m
• Cumulative production reached ~51.5 kg since start-up
• Vertical shaft project advanced – design and budget approved; shaft team mobilised
• Headgear fabrication commenced
• Two new shaking tables installed and commissioned
• Ethiopian Investment Holdings (EIH) invested USD 3 million
• Monetary Metals loan restructured – interest reduced and grace period extended to February 2026
• Gold prices remained strong, supporting stable cash-flow potential

POST-PERIOD DEVELOPMENTS

Following the quarter end, operational progress and market conditions remained favourable:

• Stable production in October and November of approximately 13.5 kg at an average grade of 21.0 g/t, with an estimated value of ~USD 1.9 million
• Cash and unsold gold position remained strong, with a combined value of approximately USD 4.3 million at the end of November
• Cumulative production reached approximately 65 kg since start-up
• ROM stockpile increased to 385 tons, providing a strong operational buffer ahead of shaft commissioning; at an assumed grade of 20 g/t, this corresponds to an indicative in-situ value of approximately USD 1.1 million (not recognised in the accounts)
• Gold prices reached new all-time highs, strengthening future revenue potential
• Headgear fabrication was completed and the structure shipped from the assembly site
• Vertical shaft advanced to 20 metres into hard rock, out of a planned 60 metres
• Infrastructure works for the headgear base commenced, enabling concrete foundation preparation
• Installation of two water treatment plants continued, improving both process-water supply and potable water availability on site
• Camp upgrades progressed, enhancing accommodation capacity and general facilities
• All remaining convertible bonds were converted into shares after the reporting period

FINANCIAL REVIEW

All figures in SEK million

*Q3 2025 report not reconciled with the 2024 annual accounts exchange rate adjustments

Akobo Minerals will host a webcast, in English, for shareholders and interested parties today at 10:00 CET. The webcast will include a presentation of the results, followed by a Q&A session.

Webcast link: Akobo Minerals Q3 2025 presentation

For more information, contact:

Jørgen Evjen, CEO, Akobo Minerals

Mob: (+47) 92 80 40 14

Mail: jorgen@akobominerals.com

LinkedIn: www.linkedin.com/company/akobominerals

Web: www.akobominerals.com

About Akobo Minerals 

Akobo Minerals is a Scandinavian-based gold producer and explorer, currently holding an exploration license covering 182 km2 and a mining license covering 16 km2 in the Gambela region and Dima Woreda, Ethiopia. With over 15 years of active operations on the ground, the company has established a strong foothold in Ethiopian mining industry.

Akobo Minerals’ Segele mine has an Inferred and Indicated Mineral Resource of 69,000 ounces, yielding a world-class gold grade of 22.7 g/ton The mineralized zone remains open at depth, supporting future resource estimates and extending the mine’s life. The exploration license holds numerous promising exploration resource-building prospects in both the vicinity of Segele and in the wider license area.

Akobo Minerals maintains strong relationships with local communities and government authorities, placing ESG principles at the core of its operations. The company’s commitment to sound ethics, transparency, and stakeholder engagement is evident through its industry-leading extended shared value program.

Akobo Minerals 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, the company is traded on the OTC Pink Market (OTC: AKOBF).

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/.