SpareBank 1 Markets AS (SB1) has been appointed by Akobo Minerals to provide project financing advice for the planned gold mining operation at the Segele deposit. SB1 will work closely with the Company as a financial consultant to explore relevant funding opportunities such as equity, bank debt, and offtake agreements, as well as other strategic options.
According to Akobo’s corporate update, construction of the small-scale plant project will commence as soon as financing is in place, with initial production start-up – and gold producing operations – expected before the end of 2022.
CEO, Jørgen Evjen, stated: “The announcement of our partnership with SpareBank 1 Markets AS to seek new additional funding for the company is a major next step in the development of our mining operation towards pouring of first gold by the end of the year.“
“Our exploration team has been successful in finding more gold at greater depths as our project has developed. We have also secured long-term licenses and relationships with local and national authorities, as well as establishing a significant collaboration with Oromia Bank to develop new mining ventures in Ethiopia.”
Evjen concluded: “We are proud to have met all of our scheduled strategic milestones since the company went public on the Euronext Growth Oslo in June 2021, the latest of which was the laying of the foundation stone for our mine in early March 2022.”
Akobo Minerals AB (publ), is a Norway-based gold exploration and mining company listed on the Euronext stock exchange in Oslo, under the ticker AKOBO, currently with ongoing exploration and mine development in the Gambela region and Dima Woreda, southwest Ethiopia.
For more information, contact:
Jørgen Evjen, CEO Akobo Minerals
Mob: +47 92 80 40 14
Jarand Lønne, SpareBank 1 Markets AS
Head of Natural Resources
Mob.: (+47) 97 98 49 61
The views and opinions expressed in this information are those of the authors and do not necessarily represent the official view of BIE Intelligence PLC or Business Info Ethiopia.
The opinions expresses here in the post "Akobo Minerals Appointed SB1 Financial Adviser for its Gold Mining Operation in Ethiopia" are those of the individua's contributor(s) and do not necessarily reflect the views of Business Info Ethiopia , BIE Intelligence PLC, its publisher, editor, or any of its other contributors.