Akobo Minerals announces first quarter preliminary results 2025

OSLO, 26 June 2025: Akobo Minerals AB (publ), (Euronext and Frankfurt: AKOBO, OTC: AKOBF), the Scandinavian-based Ethiopian gold producer, today reported its first quarter results 2025. The company reported revenues of SEK 4.5 million and an EBITDA of SEK -10 million. The company covered part of its operating cost in the quarter, holding a cash position of SEK 7.8 million.

LATEST KEY EVENTS

Record High Gold Price:

• The gold price has remained at historically high levels, supported by ongoing global uncertainty and increased investor demand for gold as a safe-haven asset. This continues to provide a favourable backdrop for Akobo Minerals' near-term production focus.

Mining Progress:

• Mining activities have continued to advance, with increased access to higher-grade ore contributing to improved production potential and operational momentum.

Strengthening Collaboration with Sutton Global:

• As part of the company’s strategic partnership with Sutton Global, senior paramedic Leon Fourie has been appointed to the Segele site. His presence is already strengthening site health and safety standards and supporting broader operational improvements.

Convertible Loan Facility:

• Akobo Minerals has secured a NOK 11.4 million convertible loan, providing short-term funding flexibility to support ongoing operations and the planning of next development phases.

Restructuring Agreement with Monetary Metals:

• A Memorandum of Understanding (MoU) has been signed with Monetary Metals for the restructuring of the current financing agreement. The proposed restructuring aims to align repayment terms with the updated production timeline and expected cash flow profile.

FIRST QUARTER FINANCIAL PERFORMANCE OVERVIEW*

• Revenue for the period: SEK 4.5 million
• EBITDA for the period: SEK -10.0 million
• Cash flow for the period: SEK -21.2 million
• Cash at the end of the period: SEK 7.8 million
• Total equity at the end of the period: SEK -157.8 million
• Total external long-term debt at the end of the period: SEK 314.4 million

*Q1 2025 report not reconciled with the 2024 annual accounts exchange rate adjustments

Akobo Minerals will host a webcast, in English, for all shareholders and interested parties today at 10:00 CET. There will be a Q&A session following the management presentation.

The webcast will be available at: Akobo Minerals Q1 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, 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/tonThe 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, Akobo Minerals AB (OTC: AKOBF) is traded on the OTC Pink Market.

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/. Akobo Minerals' unwavering commitment to ethical practices, community engagement, and environmental responsibility positions them as a formidable force in the evolving landscape of the Ethiopian mining sector.

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