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Akobo Minerals AB ( (DE:643) ) has provided an update.
Akobo Minerals AB has completed its financial restructuring by amending its loan agreement with Monetary Metals and securing a USD 3 million private placement from Ethiopian Investment Holdings. This restructuring, along with the conversion of convertible bonds into shares, positions the company to enhance its operations, particularly with the construction of a vertical shaft expected to boost production and revenues by year-end.
More about Akobo Minerals AB
Akobo Minerals is a Scandinavian-based gold producer with operations in Ethiopia, holding an exploration license of 182 km2 and a mining license of 16 km2 in the Gambela region and Dima Woreda. The company has been active for over 15 years and is known for its Segele mine, which has a high-grade gold resource. Akobo emphasizes ESG principles and maintains strong local relationships, aiming to be a significant player in the Ethiopian mining industry. It is publicly listed on the Euronext Growth Oslo Exchange and the Frankfurt Stock Exchange.
Average Trading Volume: 356,705
Current Market Cap: NOK317.9M
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