Akobo Minerals Ab · OSL:AKOBO
Akobo Minerals Ab — Q4 2024 Earnings Presentation
30 slides from Akobo Minerals Ab's earnings presentation, Mar 27, 2025
Slide 1: Fourth quarter 2024 presentation
Fourth quarter 2024 presentation AKOBO MINERALS AB (publ) 27th March 2025 Euronext – AKOBO OTC – AKOBF www.akobominerals.com
Slide 2: Disclaimer
Disclaimer This document has been used during an oral presentation. Therefore, this document is incomplete without the oral explanations, comments and supporting instruments that were submitted during the referred presentation. To the extent permitted by law, no representation or warranty is given,
Slide 3: Akobo Minerals – an Ethiopian gold producer
Akobo Minerals – an Ethiopian gold producer Operating in Ethiopia • Exploration & mining licenses in Gambella region & Dima Woreda • 15+ years of on-the-ground activity • Strong local foothold built on ethics, transparency & communication • Listed on Euronext Growth, Oslo • Segele mine in commercial
Slide 4: Latest key events
Latest key events First-ever revenue achievement • The company has recorded its first quarter with revenues in its 15-year history Record gold price impact • The unprecedented high gold price has significantly boosted Segele’s cash flow potential Sutton Global collaboration strengthening • Progress
Slide 5: Recent Ethiopian economic development
Recent Ethiopian economic development Successful currency floatation • Transition to a market-driven exchange rate system, enhancing forex market transparency and competitiveness Reduction in inflation • Easing inflationary pressures, stabilizing the macroeconomic environment, benefiting consumer De
Slide 6: Potential collaboration with the Ethiopian Sovereign Fund
Potential collaboration with the Ethiopian Sovereign Fund Ethiopian Investment Holdings • The Ethiopian Sovereign Fund with significant AUM (USD 150bn) • Manages a diverse portfolio of over 50 companies across various sectors Expertise in commercial management • Proven success in optimizing state-ow
Slide 7: Sutton Global
Sutton Global Sutton Global Holdings Limted is a diversified, global group of companies that offers comprehensive management and business consulting, Mining and Process solutions, commodity trading, oil & gas advisory services and investments and project development services worldwide. Sutton has a
Slide 8: Gold sales and financial update
Gold sales and financial update o Ongoing strategic discussions: Engaged in discussions with financial, industrial, and strategic partners to explore potential cooperation, including long-term capital restructuring o Monetary Metals support: Strong relationship and continued support from Monetary Me
Slide 9: Gold price development with positive effect on the Segele mine
FOR ILLUSTRATION Gold price development with positive effect on the Segele mine Value of the Segele resource Operational cash flow from Segele 108 mUSD mUSD 241 89 206 172 70 2500 3000 3500 2500 3000 3500 USD/oz USD/oz • Record high gold price above 3.000 USD/oz • Segele operational cash flow estima
Slide 10: ESG, Health and Safety
ESG, Health and Safety Environmental monitoring ▪ Regular wastewater sampling and testing at the Tailings Storage Facility (TSF) ▪ Continuous monitoring of TSF water levels for proactive management ▪ Noise and air quality assessments in progress, with mitigation strategies underway ▪ Annual Environm
Slide 11: Exploration
Exploration Exploration focus shift: Activities were scaled back in Q4 2024 to prioritize Segele Mine ramp-up, while essential geological work continued Drilling progress: Completed five diamond drill holes (401m) to assess Segele ore body continuity Target generation: Identified and prioritized new
Slide 12: Exploration and drilling in the Southern part of exploration area
Exploration and drilling in the Southern part of exploration area 12
Slide 13: The Segele Mine
The Segele Mine AKOBOMINERALS 13
Slide 14: Mine Metrics and Layout
Mine Metrics and Layout Key mine metrics Total Mineral Resource 69 kOz, 22,7 g/t Indicated resource 41 kOz, 40,6 g/t Conservative 81 % extraction factor 10 t/h plant capacity Peak production rate 4,000 oz/month Excellent resource extension potential Open at depth New mineralization fou
Slide 15: Mining operations
Mining operations Mine development ▪ Sunk the Eastern Winze to level 575 and started new Crosscut 2 (CC2) ▪ Now opened several faces for ore extraction in Crosscut 1 (CC1) ▪ Steady ore production day by day ▪ Eastern winze length 86 m (used for extraction of ore from CC2) ▪ Western winze length 63.5
Slide 16: New Vertical Shaft
New Vertical Shaft ▪ Will replace the incline shaft and save time and money ▪ Area to start vertical shaft: between the two winzes. ▪ Depth of vertical shaft: approximately 130 m ▪ How many levels it will be used for: 4 levels; -40 m down from surface, -70, -100 and -130. ▪ Capacity: 100 to 150 tons
Slide 17: In the Mine
In the Mine Geologists discussing in the crosscut Visible gold in crosscut 1 17
Slide 18: Processing Plant
Processing Plant —= z
Slide 19: Processing Plant
• Good production ramp up in 4th quarter with 2,8 kg of gold Processing Plant produced in October, 10 kg in November and 2,3 kg in December • Processing plant has been running every day with minimal downtime 19
Slide 20: Plant operational and producing
Plant operational and producing Key Recent Developments ▪ Plant producing on a daily basis without much downtime. ▪ Plant being methodically optimized during operation through uncovering bottlenecks, areas of excessive wear etc. ▪ Plan to make a new permanent tailings storage facility ready for impl
Slide 21: Smelting of gold February 7, 2025
The operators have just finished pouring the gold smelt Smelting of gold February 7, 2025 Red-hot smelted concentrate CEO with fresh doré gold bar 21
Slide 22: Operations Going Forward
Operations Going Forward • Main focus on getting new operations management in. • New Site Manager with extensive mining experience. • Shaft sinking team to come to site on April 1. • Production from two winzes to start very soon when crosscut 2 comes into ore. • When vertical shaft is operational at
Slide 23: Financial update
Financial update &) AKOBOMINERALS 23
Slide 24: Financial performance overview
Financial performance overview All figures in ‘000 SEK Operational Expenses Development Equity & Debt Development Equity Debt • The company started production with income during the quarter covering large part of operational expenses in Ethiopia • Operational related cost from Ethiopia is now booked
Slide 25: Corporate structure and top shareholders
Corporate structure and top shareholders Corporate structure and listing Transparent corporate structure Top shareholders Rank Shares % Name Stock listed on Euronext Growth in Oslo and 1 20 050 509 10,66 % ATOLI AS 2 17 553 012 9,33 % Bernhd. Brekke A/S Frankfurt Stock exchange (ticker AKOBO) Akob
Slide 26: Key metrics
Key metrics — = = SS Ss ee Assays samples generated (incl QAQC) 485 - . - - . . . = Se Indicated Resources ounces 41,000 41,000 41,000 4,000 41,000 41,000 41,000 41900 : - = ~ = SS ee ee Assays samples generated (incl QAQC)_ - 158 - - . . . (Changecash SEK 20188766 23497670 -2a1S5S61 19277618 227918
Slide 27: Income statement – Group
Income statement – Group Comments to figures • SEK 10.6 million gold sold to NBE, excluding 2,3 kg smelted in January • SEK 2.2 million in other expenses mainly relate to consulting services such as accounting, auditing and legal both in Norway and Sweden • SEK 4 million in other expenses mainly rel
Slide 28: Balance sheet – Group
Balance sheet – Group Comments to figures • Fixed assets are capitalised exploration costs and local mining equipment in Ethiopia • Long term debt is the 8,400 ounces gold loan from Monetary Metals and the NOK 25.5m convertible loan 28
Slide 29: Cash flow – Group
Cash flow – Group Comments to figures • Cash flow from operating activities relates to all entities • Cash flow from investing activities relates only to operational activities capitalised in Ethiopia • Translation differences relates to changes in foreign exchange values on bank deposits 29
Slide 30: Q&A
Q&A 30 30