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This report is published ahead of the final smelting of all June material, as
the Company awaits delivery of a new furnace better suited to the doré
specifications required by the National Bank of Ethiopia. Overall results
exceeded our previous May/June expectations of 10 kg, taking into consideration
the remaining high-grade stockpile.
Highlights
. Total doré gold production to date: Approximately 30 kilograms
. Contribution from May and June:
· Doré gold bars: Approximately 10 kilograms
~9,2 kilograms from the past six weeks of production
~0.9 kilograms from the first two weeks of May
. High-grade material stockpile: ~200 tonnes from June remains to be processed
. Average grade: Estimated at 30 g/t
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Operational Overview
Mining operations remain focused on high-grade zones within the Segele orebody.
The block model data and laboratory results confirm consistently strong grades
in active production areas, with certain zones showing values of several hundred
grams per tonne.
Processing operations are ongoing, with approximately 200 tonnes of high-grade
material from June pending smelting. This, together with ongoing July
production, will be converted to concentrate and smelted once the new furnace is
commissioned later this month.
The process plant is undergoing several adjustments, including feed rate, water
recycling, and the Falcon concentrator setup. These remain works in progress as
part of the commissioning of the gravity circuit, with the goal of optimising
gold recoveries. Smelting techniques and furnace operations are also being
continuously refined to improve doré quality.
Site Conditions
The rainy season has brought operational challenges, including difficult working
conditions on site and in the region also with increased cases of malaria.
Despite this, the team at Segele continues to demonstrate strong commitment,
maintaining steady progress across mining and processing activities.
Outlook
With continued access to high-grade ore, stable operations at the plant, and
further technical upgrades underway, the Company anticipates strong production
performance for July and the period ahead. The new furnace installation will
further enhance smelting efficiency and ensure full compliance with National
Bank doré standards.
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 (https://protect.checkpoint.com/v2/http
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GI4ZmJmZTZjZmUzNGM0OTM4NDRlMjNkMTQ5OTQzZmRmOTpwOlQ6Tg)
Web:
www.akobominerals.com (https://protect.checkpoint.com/v2/http://www.akobominer
als.com/.YzJlOnNjaGpkdGFzOmM6bzoxMGRjOGE2MTZmMDIwYTc1M2VhODk0MjA0YzI4NGU2MTo2O
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About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold producer, 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
68,000 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/.
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