Akobo Minerals (Akobo)

[arctica76]

Interessant selskap som leter etter gull i Etiopia, uttalt til å kunne bli en av verdens beste gullforekomster. Med kjente investorer på eiersiden er dette et høyst interessant selskap å følge videre. Selskapet ble notert på NOTC-listen i slutten av januar. Noen som kjenner til selskapet?Afrika-gull klart for handel i Oslo | Finansavisen

[arctica76]

Nok et positivt resultat fra prøveboringen til Akobo Minerals.

[arctica76]

Akobo Minerals announces maiden mineral resource estimate at Segele

[arctica76]

Akobo blir mer og mer interessant og fikk en god oppgang etter artikkelen i Finansavisen i går. Noen flere som er inne i denne?

– Et røverkjøp på dagens nivå

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Akobo Minerals : First-half year 2021 results | MarketScreener

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@pdx ser ikke ut til at tekbot og news fungerer for AKOBO?

[pdx]

Takk, fikset nå

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Fortsatt nullinntekt for børsfersking Akobo Minerals

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Akobo Minerals AB (publ) - Mandatory notification of trade

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 under its warrant programs.

The following warrants were exercised by primary insiders:
…

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• Kanoka Invest AS, a company controlled by CEO Jørgen Evjen, has subscribed for 440,000 shares
• Jørn Christiansen, board member, has subscribed for 220,000 shares
• Johan Sjøberg, Chief Exploration Manager, has subscribed for 220,000 shares

Primary insider notifications pursuant to the market abuse regulation article 19 are attached.
This information is subject to the disclosure requirements pursuant to the market abuse regulation article 19 .

Kilde

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Akobo Minerals engages SpareBank 1 Markets AS as Market maker

Market making agreement with SpareBank 1 Markets AS

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 2021.
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For more information contact
Jørgen Evjen, CEO
Mob.: (+47) 92 80 40 14
Mail: [email protected]

About Akobo Minerals:
Akobo Minerals is a Norway-based gold exploration company, currently with ongoing exploration in the Akobo region in Gambela southwest Ethiopia through its wholly owned Ethiopian subsidiary Etno Mining Plc. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds an exploration license in the Akobo area and our team of geologists have worked extensively over the last 11 years to identify several potential primary gold targets. Akobo Minerals has ongoing drilling programs at its key targets Segele and Joru which so far have shown exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide low grade zones near surface.

Important information:
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.

Kilde

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Akobo Minerals awards Peacocke and Simpson contract for metallurgical testwork at the SEGELE project, an important step in preparation to start mining

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 to be carefully selected.

A bulk sample of over 200Kg, containing abundant visible gold from 3 new drill holes, has been dispatched to specialist gold metallurgical testwork laboratory Peacocke and Simpson (Pvt) Ltd. Testwork results are expected within weeks, leading to detailed plant design.
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Chief Executive Officer, Jørgen Evjen said:
“As covered in our Q2 report, the scoping study will be released in the coming weeks and such a report is typically followed by prefeasibility studies. This metallurgical testwork forms a critical part of such prefeasibility studies and hence we are accelerating our mining studies ahead of schedule. We are very positive about the results of the Scoping Study and the Prefeasibility Study is likely to give us a very solid footing on which to predict cash flow. Additionally, we are pleased with the performance of the Midroc contract drill rig and excited to see the intersections as we explore the Segele mineralisation ever deeper. It is of course always encouraging to see visible gold from the 3 test holes drilled for this purpose”

SEE PDF FOR PICTURES

Gold mineralisation in metallurgical samples. Field of View Left: 30mm, Right: 10mm.

The choice to use Peacocke and Simpson is based on their long history working with similar projects throughout Africa. Peacocke and Simpson was established in 1985 in Harare, Zimbabwe where a thriving small-scale mining industry has been ongoing for many decades. The company places an emphasis on gravity recovery, a sustainable and low-cost method considered highly likely to be suitable at Segele. Peacocke and Simpson is accredited to ISO9001 (2015).

After the testwork, Akobo Minerals will advance immediately to plant design, for that purpose Peacocke and Simpson has a strong partnership with Appropriate Process Technologies (Johannesburg, South Africa). APT have provided over 200 small and medium scale plants to over 23 countries since 2007. Recent projects delivered by APT include:
• Scotgold, United Kingdom (7.5t/hr crushing, grinding, gravity plant)
• Yaron, Zimbabwe (20t/hr Combo gold plant)
• CATA, Tanzania (40t/hr, Tritank CIL)
• And many more

For more information contact
Jørgen Evjen, CEO
Mob.: (+47) 92 80 40 14
Mail: [email protected]

About Akobo Minerals:
Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities - a ground-breaking community program is being planned.

About Peacocke and Simpson:
Peacocke & Simpson is an industry leading minerals processing company, with over 30 years of experience in relevant mineral testwork and plant design. Established in 1985, Peacocke & Simpson has vast experience in the minerals processing industry, providing relevant and meaningful mineral testwork on nearly all hydrometallurgical processes for nearly all minerals. Based in mineral-rich yet underdeveloped and logistically challenging Africa, they understand that their clients require practical solutions and results.

Important information:
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.

Kilde

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Akobo Minerals applies for a large scale gold mining license

Akobo Minerals applies for a large scale gold mining license

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 part of the company’s future.
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The Minister of Mines, Takele Uma said:
“We are cooperating with Etno Mining/Akobo Minerals to finalize the mining license next week, the first week of the Ethiopian New year. Etno Mining has worked relentlessly since the beginning of its exploration activities.”

The mining license area applied for covers a large part of the existing exploration license. A large scale mining license is normally granted for an initial period of 20 years, then for an additional 10 years. With grant of the mining license we will secure a long term operation for the next 20 years and the opportunity to continue exploration work as we start preparations for mining operations. Typically mining licences include obligations on the company to pay royalties, taxes, support local communities and undertake ESG programmes – all of which are already within the company plan.

Chief Executive Officer, Jørgen Evjen said:
“Today we have submitted our mining license application to the Ministry of Mines and Petroleum - another milestone for Akobo Minerals. We are still an exploration company, but we create flexibility and options for ourselves with applying for a mining license. We still believe that Akobo Minerals will be a leading player in the Ethiopian mining sector for many years to come, and that we are about to open up a new region for exploration and mining in Ethiopia. Key economic metrics of mining operations at Segele will be released shortly from our scoping study. ”

Even though the application is for large scale mining, the current plan to use small scale mining techniques is still valid. A large scale mining license provides more flexibility in yearly tonnage mined, and the length of the mining license period is double that to a small scale mining license.

For more information contact
Jørgen Evjen, CEO
Mob.: (+47) 92 80 40 14
Mail: [email protected]

About Akobo Minerals:
Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities - a ground-breaking community program is being planned.

Important information:
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.

Kilde

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Denne kan man like ja, greit å forberede seg for fullskala utvikling også, om enn på sikt. Få i gang småskala først for å få inntekter. Som kan finansiere videre leting og utbygging. Det hadde vært aksjonærvennlig…

Akobo Minerals søker om stor gullgruvelisens

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Akobo Minerals to be awarded large scale gold mining license

Akobo Minerals to be awarded large scale gold mining license

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.
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The application was developed in close dialogue with the Ministry of Mines and Petroleum with whom the company intends to continue its successful partnership. The success of this process gives Akobo Minerals great confidence to bring forward mining plans for the high-grade Segele gold mineralisation. The future Segele Mine will a be positive development for Ethiopia and the community near the project.

The final stage in the process is the signing of a Mining Agreement which is scheduled for the 30th of September. Upon signing Akobo Minerals will release more information covering key clauses.

For more information contact
Jørgen Evjen, CEO
Mob.: (+47) 92 80 40 14
Mail: [email protected]

About Akobo Minerals:
Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities - a ground-breaking community program is being planned.

Important information:
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.

Kilde

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Gladmelding for norsk gullgraver

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Akobo Minerals completes its Segele scoping study

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 Segele deposit. The results are very encouraging and exceeds previous expectations;
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• Key contributions from highly respected 3rd parties and peer reviewed by SRK
• Estimate of 243 USD per ounce for all in sustaining cost (AISC) vs 1.048 USD per ounce as mining industry average
• The estimated limited capital expenditure and very low production cost will lead to Segele becoming an exceptionally high margin operation
• Current mine plant can double capacity over time as more resources are discovered or extend the life of mine
• Expected mining operations to commence end 2022

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).

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.

Akobo Minerals is planning to mine the gold mineralisation using methods such as shrinkage stoping or similar. These rocks will be brought to surface using an incline shaft that will take 11 months to build. At peak production, just under 6,000 tonnes of rock per month will be mined and this material will be passed into an industry standard crushing and gravity circuit, with cyanidation where necessary. The company plans to purchase a plant capable of processing 20 tonnes per hour, but operated at 10 tonnes per hour initially – allowing for expansion. The plant is expected to extract 90% of all gold in the mineralization, this will be confirmed by the ongoing metallurgical testwork (see press release 30th August 2021).

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.

As with all anticipated underground mining operations, not all ore can be mined or exploited and as such the scoping study estimates an extraction percentage 81%, the grade will be diluted by 5% and ore loss is expected to be 8%. These figures are in-line with or better than industry standards.

A sustainable natural resources management plan is planned alongside mining. Such a plan may allow Akobo Minerals to contribute to the United Nations Sustainable Development Goals.

The scoping study is the first phase in the process of developing a business plan for mining at Segele and has an accuracy of between 30 to 50%. Akobo Minerals has already begun a Prefeasibility study which typically has an accuracy of +/- 25%. The Prefeasibility study will involve a resource upgrade, selection of mining method, detailed plant design and it allows for publication of cash flow models and ore reserves.

Segele scoping study key metrics.
Metric Figure Notes
Inferred Mineral Resource 78ktonnes@ 20.9g/t 52,410oz SRK MRE 6th April 2021.
CAPEX USD 8.042m Factored, including USD 1.2m contingencies
Total LOM OPEX * USD 87 / tonne
Total LOM OPEX * (without royalties) USD 137 / ounce
Total LOM OPEX* (including royalties)
All in Sustaining Costs (AISC) USD 243 / ounce Factored,7% royalties at 20g/t and 1,500 USD/oz
Plant Head Grade 20g/t Factored from dilution
Underground Development Time 12 months Stoping commences in month 11
Production Rate 5,800 tonnes per month At peak production
Metallurgical Recovery 90% Assumption
Extraction Rate 81% Assumption
Dilution 5% Assumption
Ore Loss 8% Assumption
Plant Throughput 10-20tph
Study Accuracy 30-50%

• Life of mine opex

Competent Person for Mineral Resources
This press release includes information from the Segele Mineral Resource Estimate released by Akobo Minerals AB on the 6th of April 2021 (“Announces encouraging Maiden Mineral Resource Estimate at Segele”). Akobo Minerals AB confirms that it is not aware of any new information or data which materially affects the information contained in the press release regarding the Segele Mineral Resource (5/4/2021). All material assumptions and technical parameters underpinning the estimate are relevant and have not materially changed. The information in this press release that relates to Mineral Resources is based on information compiled by Mr. Michael Lowry who is a member of the Australasian Institute of Mining and Metallurgy and is a full-time employee of SRK Consulting (Australasia) Pty Ltd. Mr. Lowry has sufficient experience which is relevant to the style of mineralisation and type of deposit under consideration and to the activity which he is undertaking to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’. Mr. Lowry consents to the inclusion in the report of the matters based upon his information and context in which it appears.

Competent Persons for Mining Engineering, Metallurgy and ESG (Environment, Social and Governance)
Competent persons for Mining Engineering, Metallurgy and ESG (Environment, Social and Governance) are as follows.

Competent Person(Exploration Results)
Dr Matthew Jackson BSc PhD MAusIMM(CP) Akobo Minerals AB

Competent Person (Mining Engineering)
Prof Steven Rupprecht PhD (Mech Eng), (BSc Mining Eng.), Honorary Life Fellow SAIMM Borrego Sun Pty Ltd

Competent Person (Chemical Engineering)
John Derbyshire BSc Eng (Chem), Pr Eng, FSAIMM Goshawk Network Technologies CC

Competent Person (Environment, Social and Governance)
Dr Cathryn MacCallum MSc(econ) CEnv, CSci FIMMM Sazani Research and Development Ltd

The information in the press release to which this statement is attached that relates to the Segele Scoping Study is based on information compiled by the persons named above. All persons listed are Competent Persons who are Members or Fellows of The Australasian Institute of Mining and Metallurgy or a ‘Recognised Professional Organisation’ (RPO) included in a list posted on the ASX website from time to time. All persons listed above have sufficient experience that is relevant to the style of mineralisation and type of deposit under consideration and to the activity being undertaken to qualify as a Competent Person as defined in the 2012 Edition of the ‘Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves’.

Acknowledgements
Akobo Minerals and Etno Mining consider our success is shared by the people of Ethiopia and our local communities. With that in mind we would like to recognize the valuable ongoing support which we receive from the following:
Ministry of Mines and Petroleum (MoMP) His Excellency Eng. Takele Uma and Her Excellency Mrs. Semegn Wube
Mines and Petroleum License Contract Administration Directorate, Ministry of Mines and Petroleum Mr. Abebe Bedassa
Mineral Operations Licensing Directorate, Ministry of Mines and Petroleum Ms. Yewbdar Mulatu
Gambella People National Regional State Mr. Omod Ojulu and Mr. Thangkwey Jock
Gambella Regional Mineral and Energy Resources Agency Mrs. Akwata Cham and Mr. Koang Reit
Gambella People National Regional State Peace and Security Bureau Mr. Thomas Tut Puk
Gambella People National Regional State Labor and Social Affairs Bureau Mr. Ojulu Ojulu
Anywaa Nation Zone Administrative Council Mr. Ojulu Odol
Anywaa Nation Zone Water, Mines and Energy Department Mr. Joro Omod
Anywaa Nation Zone Peace and Security Department Mr. Omod Obang
Dima Woreda Administrative Council Mr. Ojulu Oman
Dima Woreda Water, Mines and Energy Development Office Mr. Odolla Oboya
Dima Woreda Peace and Security Office Mr. Cham Ojulu
Chamo Kebele Administrative Council Mr. Ojulu Okogo and Mr. Arega Mekuria
Chamo Kebele Peace and Security Office Mr. Paacbeer Tepery
Joru Kebele Administrative Council Mr. Opiew Didumu
Joru kebele Peace and Security Office Mr. Gnigwo Ojwato

About Akobo Minerals
Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities - a ground-breaking community program is being planned.

Important information
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the U

Kilde

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Akobo Minerals melder om oppmuntrende resultater

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Bra fart i Akobo i dag, skyldes sikkert oppslag om en viss idrettsutøver, men kanskje også heving av kursmål fra analytiker:

Hever 50 prosent og spår dobling av Akobo

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Akobo Minerals Receives Large Scale Gold Mining License

At a signing ceremony on the 30th of September 2021, Akobo Minerals received its large scale mining license from His Excellency Eng. Takele Uma – Minister for Mines and Petroleum. The award allows the company to begin mine development activities leading to eventual gold production.

SEE PDF FOR PICTURES
…

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CEO Jørgen Evjen (Left) receives the mining licence from His Excellency Eng. Takele Uma – Minister for Mines and Petroleum (Right). General Manager Tesfaye Medhane (Centre).

The ceremony at the ministry offices involved the Minister himself, Ambassadors from Norway, India and Australia, and industry leaders - marking a new era in the mining industry in Ethiopia. A total of seven mining licences were awarded. Full details of rights and obligations will be released once the Mining Agreement has been enacted between Akobo Minerals and the Ministry of Mines and Petroleum.

The ceremony was attended by key members of the Akobo Minerals team including company founders Jørgen Evjen (CEO) and Hans Olav Torsen (Chairman). Both Evjen and Torsen were fundamental in the inception of the company and after 10 years they have seen the company progress to mining development stage. With a first mover advantage and favourable small-scale mining economics shown in a scoping study, the company is well placed to begin the first gold mine in Southwestern Ethiopia. The new mining licence is surrounded by a highly prospective exploration licence also held by Akobo Minerals where the company is aiming to discover between 1.5 to 2 million ounces of mineral resources.

For more information contact
Jørgen Evjen, CEO
Mob.: (+47) 92 80 40 14
Mail: [email protected]

SEE PDF FOR PICTURES

Left to Right: Tesfaye Medhane (General Manager), Matt Jackson (COO), Her Excellency Mrs. Simegn Wube (State Minister), H.E. Eng. Takele Uma (Minister for Mines and Petroleum), H.E. Merete Lundemo (Ambassador of the Royal Norwegian Embassy to Ethiopia), Jørgen Evjen (CEO) and Hans Olav Torsen (Chairman).

SEE PDF FOR PICTURES

Hans Olav Torsen (Chairman) and H.E. Merete Lundemo (Ambassador of the Royal Norwegian Embassy to Ethiopia) discuss the history of the discovery of the high grade Segele gold deposit.

About Akobo Minerals:
Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration and small-scale mine development in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds a mining licence and an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. A scoping study for Segele includes an up-front capital expenditure of USD $8m and all-in sustaining cost of USD $243 per ounce of gold produced. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities - a ground-breaking community program is being planned.

Important information:
This release is not for publication or distribution, directly or indirectly, in or into Australia, Canada, Japan, the United States or any other jurisdictions where it would be illegal. It is issued for information purposes only and does not constitute or form part of any offer or solicitation to purchase or subscribe for securities, in the United States or in any other jurisdiction. The securities referred to herein have not been, and will not be, registered under the U.S. Securities Act of 1933, as amended (the “U.S. Securities Act”), and may not be offered or sold in the United States absent registration or pursuant to an exemption from registration under the U.S. Securities Act. Akobo Minerals does not intend to register any portion of the offering of the securities in the United States or to conduct a public offering of the securities in the United States. Copies of this publication are not being, and may not be, distributed or sent into Australia, Canada, Japan or the United States.

Kilde

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Registration of new share capital in Akobo Minerals AB (publ)

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 Extraordinary General Meeting 2018-08-31. The Company’s share capital has increased by SEK 50,463.28 from SEK 1,529,302.226797 to SEK 1,579,765.506797.

For more information contact:
…

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Jørgen Evjen, CEO
Mob.: (+47) 92 80 40 14
Mail: [email protected]

About Akobo Minerals:
Akobo Minerals, is a Norway-based gold exploration company, currently with ongoing exploration and small-scale mine development in the Gambela region and Dima Woreda, southwest Ethiopia. The operations were established in 2009 by people with long experience from the public mining sector in Ethiopia and from the Norwegian oil service industry. Akobo Minerals holds a mining license and an exploration license over key targets in the area. Economic mineralisation was discovered and the company is engaged in mining studies to advance the project to production, alongside exploration core drilling. Akobo Minerals is transforming its organisation to support an increased pace of core drilling. At both the key targets Segele and Joru the company has so far released exceptionally high-grade gold results including the Segele deposit with an Inferred Mineral Resource of 78ktons at 20.9g/t. A scoping study for Segele includes an up-front capital expenditure of USD $8m and all-in sustaining cost of USD $243 per ounce of gold produced. Core-drilling and trenching at Joru have intersected both high-grade gold zones and large wide zones near surface. The company has an excellent partnership with national authorities and places ESG at the heart of its activities - a ground-breaking community program is being planned.

Kilde