OSLO, 28 September 2023:Akobo Minerals
AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med
ium=Press+Release&utm_campaign=New+OTCQX+Company) (Euronext and Frankfurt:
AKOBO) (OTCQX:AKOBF), the Scandinavian-based Ethiopian gold exploration and
boutique mining company, today announced that its shares will now trade on the
OTCQX Best Market under the ticker symbol of AKOBF.
The OTCQX Best Market is the highest market tier of OTC Markets on which 12,000
U.S. and global securities trade. Trading on OTCQX will enhance the visibility
and accessibility of the Company to U.S. investors. Akobo Minerals' shares will
continue to trade on the Euronext Growth in Oslo under the symbol AKOBO, and on
the Frankfurt Stock Exchange under the symbol AKOBO.
The OTCQX Best Market provides value and convenience to U.S. investors, brokers
and institutions seeking to trade AKOBF. The OTCQX Best Market is OTC Markets
Group's premier market for established, investor-focused U.S. and international
companies. To be eligible, companies must meet high financial standards, follow
best practice corporate governance, demonstrate compliance with U.S. securities
laws, be current in their disclosure, and have a professional third-party
sponsor introduction.
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Akobo Minerals has positioned itself as the leading mining and exploration
company in Ethiopia - a country with vast untapped resources. In terms of
mining, Akobo is nearing the complete construction of the Segele gold mine, a
uniquely high-grade asset. In terms of exploration, Akobo has a rapidly
expanding portfolio of exploration targets with high grade intersections at
depth and at surface. The Segele mine has an Inferred and Indicated Mineral
Resource of 68,000 ounces yielding a world-class gold grade of 22.7 g/ton,
combined with an estimated all-in sustaining cost (AISC) of USD 243 per ounce.
The gold mineralised zone at the Segele Mine continues at depth, this and the
exploration targets have good potential to have a positive impact on future
resource estimates and mine-life. The company plans a strategic expansion of the
exploration licence in order to open a new gold province.
Jørgen Evjen, CEO of Akobo Minerals, said: "I am pleased to reach the milestone
of trading on OTCQX, as this will make it easier for U.S. investors to invest in
Akobo. After 13 years of hard work, the timing is right for new investors to
invest in this great adventure. We are establishing the first new commercial
mine in Ethiopia since 1994, with first pour of gold in sight. And from our
exploration work we see the potential in discovering a possible million-ounce
deposit. This is just the beginning, and we welcome all new shareholders on
board. Ethiopia is going to be the new hot spot for mining in Africa over the
next 10 years. We have a head start and are first movers".
- Ends -
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 www.akobominerals.com
About Akobo Minerals
Akobo Minerals is a Scandinavian-based gold exploration and boutique mining
company, currently holding an exploration license covering 182 km2 and a 16 km 2
mining license with an ongoing mine development in the Gambela region and Dima
Woreda, Ethiopia. The company has established itself as the leading gold
exploration company in Ethiopia through more than 13 years of on-the-ground
activity.
Akobo Minerals has an excellent relationship with local communities all the way
up to national authorities and we place environment and social governance (ESG)
at the heart of our activities - as demonstrated by a planned industry-leading
extending shared value program.
Akobo Minerals has built a strong local foothold based upon the principles of
sound ethics, transparency, and communication, and 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.
Akobo Minerals has a clear strategy aimed at building a portfolio of gold
resources through high-impact exploration and mining, whilst adhering to a lean
business operation.
The company is headquartered in Oslo and is listed on the Euronext Growth Oslo
Exchange and Frankfurt Stock Exchange under the ticker symbol, AKOBO.
Akobo Minerals
AB (https://www.otcmarkets.com/stock/AKOBF/quote?utm_source=Press+Release&utm_med
ium=Press+Release&utm_campaign=New+OTCQX+Company) (OTCQX: AKOBF) trades on the
OTCQX Best Market. Companies meet high financial standards, follow best practice
corporate governance, demonstrate compliance with U.S. securities laws, and have
a professional third-party sponsor introduction. Investors can find current
financial disclosure and Real-Time Level 2 quotes for the Company on
www.otcmarkets.com.
Akobo Minerals fully meets and complies with all parts of the JORC code, 2012.
For further information, see https://www.jorc.org/
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