"This convertible loan provides us with sufficient flexibility to explore the optimal financial structure for the overall project, benefitting the company and all of our shareholders. Supported by our major shareholders, in addition to a few new faces, I feel comfortable that we will reach a very good solution to see this project through to cash flow generation. In parallel to the financing we continue to deliver on plan with work at site on schedule. The processing plant design and supply phases are well underway and we expect major parts to arrive in
The contribution of said amount, primarily from major shareholders, is structured as a short-term loan, maturing 12 months after the date of disbursement, which will be converted into shares in
Further updates will be provided in due course.
SpareBank 1 Markets acts as Financial Advisor to the Company in relation to the Project Financing. Advokatfirmaet Schjødt is acting as the legal advisor to the Company on Norwegian law matters.
For more information, contact:
Jørgen Evjen, CEO
Mob: +47 92 80 40 14
Mail: jorgen@akobominerals.com
LinkedIn: www.linkedin.com/company/akobominerals
Twitter: @akobominerals
Web: https://akobominerals.com
About
company, currently holding an exploration license covering 182 km2 and with an
ongoing mine development in the Gambela region and Dima Woreda,
company has established itself as the leading gold exploration company in
of its very promising Segele target. It has an Inferred and Indicated Mineral
Resource yielding a world-class gold grade of 22.7 g/ton, combined with an
estimated all-in sustaining cost (AISC) of
depth, the gold mineralised zone continues to expand and will have a positive
impact on future resource estimates and mine-life. The exploration license holds
numerous promising exploration resource-building prospects in both the vicinity
of Segele and in the wider license area.
up to national authorities and it places environment, social and governance
(ESG) at the heart of its activities - as demonstrated by an industry
- leading community program.
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.
resources through high-impact exploration and mining, while adhering to a lean
business operation. The company is headquartered in
Euronext Growth Oslo Exchange under the ticker symbol AKOBO.
For further information, see https://www.jorc.org/
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