Akobo Minerals AB
OOSL:AKOBO1.85
NOK
-0.02
(-1.07%)
ISIN
SE0015193412
Return %
Stock
S&P 500
1Y
-7.52
14.20
3Y
-65.01
81.12
5Y
-76.07
68.34
Capital Structure
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Company Description
- CEO
- Jørgen Evjen
- Full Time Employees
- 208
- Sector
- Non-energy minerals
- Industry
- Precious metals
- Address
- Gothenburg Sweden
- IPO Date
- Jul 14, 2021
- Website
- akobominerals.com
- Similar Companies
- Business
- Akobo Minerals AB is a precious metals exploration and boutique gold mining company engaged in the acquisition, exploration, development, and operation of high-grade gold mineral properties. Founded in 2009 and headquartered in Stockholm, Sweden, with corporate and operational offices in Oslo, Norway, and Addis Ababa, Ethiopia, the company focuses its primary mineral development activities within the Gambela region and Dima Woreda of southwestern Ethiopia. Akobo Minerals operates through specialized business segments encompassing Mineral Exploration, Underground Mine Development, and Gold Processing and Recovery. Its core products and services comprise the exploration, delineation, and resource modeling of orogenic gold systems; underground narrow-vein mining operations, including decline drive access, vertical production shaft sinking, stoping, and selective high-grade ore extraction; mineral processing and metallurgical recovery services utilizing crushing, milling, and gravity concentration circuits to produce unrefined gold doré bars for supply to central banks and global precious metal refiners; greenfield and brownfield geological exploration services, encompassing diamond core drilling, trenching, geochemical sampling, and JORC-compliant mineral resource estimation across its exploration and mining license concessions covering the flagship Segele gold deposit and the regional Joru prospect; and environmental stewardship programs, including Payment for Ecosystem Services conservation frameworks and local community development initiatives. The company executes its operational mandate through its primary operating subsidiary, Akobo Minerals Ethiopia Pty Ltd. In recent developments, Akobo Minerals completed its transition from an exploration-stage venture to an active gold-producing enterprise following the successful commissioning and operational ramp-up of its on-site Segele processing facility. Operationally, the company advanced the sinking and development of a new vertical production shaft to access high-grade ore at deeper levels, driving sustained increases in monthly gold doré output and yielding its maiden positive operational EBITDA. Financially and strategically, Akobo Minerals completed a comprehensive balance sheet restructuring, which included securing a 3 million USD private placement investment from sovereign wealth fund Ethiopian Investment Holdings, executing a full conversion of outstanding convertible bond instruments into equity, and amending its senior debt facility with Monetary Metals to extend loan maturity to July 2027 under optimized repayment terms to fund ongoing production optimization.