Akobo Minerals, the Scandinavian gold producer operating in Ethiopia, delivered a robust operational performance in August 2025. Exceeding production targets with 7 kilograms of doré gold—surpassing the monthly minimum by 40%—the company continues to strengthen its position amid soaring gold prices and key operational milestones.

Strategic investments, including the successful Ethiopian Investment Holdings private placement and critical equipment upgrades, are propelling Akobo toward increased production efficiency and sustained growth.

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Highlights

• Doré gold production reached approximately 7 kilograms in August, with 5 kg smelted and 2 kg in process, valued at around USD 700,000. This exceeds the company’s minimum target of 5 kg for the month.
• Total doré gold production to date has reached approximately 45 kilograms.
• Akobo successfully closed a private placement with Ethiopian Investment Holdings (EIH), strengthening its financial position.
• Johnny Swanepoel, formerly of Sutton, has been appointed as the new Operations Manager at the site. Johnny brings extensive expertise in mining and processing, with a proven ability to maximise gold recovery and maintain high purity from ore.
• The all-time high gold prices have contributed positively to Akobo’s operational cash flow.

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Operational developments

Two new large shaking tables were installed and successfully tested on site, significantly improving gold recovery efficiency. The headgear for the new vertical shaft—identified as a critical long-lead item—is now in production following the payment of the initial deposit.

Despite heavy rainfall and challenging site conditions, the Akobo team maintained strong operational performance throughout August. The sink shaft team is expected to arrive on site in the coming weeks, with equipment mobilisation currently underway.

Akobo Minerals remains focused on advancing its production capacity and operational efficiency to capitalise on favourable market conditions and deliver long-term value to its shareholders.