Akobo Minerals Ab · OSL:AKOBO
Akobo Minerals Ab — Corporate Update (March 2022)
31 slides from Akobo Minerals Ab's corporate update, March 2022
Slide 1: Corporate Update
Corporate Update AKOBO MINERALS AB March 2022
Slide 2: Disclaimer
Disclaimer This presentation is for information purposes only and does not constitute an offer or an invitation to buy, subscribe or sell the securities being registered on Euronext Growth (Oslo). This presentation has not been approved or reviewed by, or registered with, any public authority or sto
Slide 3: Company highlights
Company highlights Groundbreaking 18.000m drilled in total and first inferred resource estimate from April 2021 – 52,410oz Au @20.9g/t1 large-scale mining Better than expected gold recovery of 97.2% achieved – possible to recover from very simple industry 1 license with vast standard processing
Slide 4: Corporate structure and shareholder overview
Corporate structure and shareholder overview Corporate structure and listing Shareholder overview (01 March 2022) Listed on Euronext Growth in Oslo (ticker: AKOBO) with a current market Shareholder # of shares % ownership capitalization of NOK 330 million and approx. 3,500 shareholders Pir Invest
Slide 5: Table of Contents
Table of Contents II Company Overview III License, Resources and Mineralization IV Business Plan & Financials 5
Slide 6: Akobo Minerals is an exploration and boutique mining company …
Akobo Minerals is an exploration and boutique mining company … Listed on Euronext Growth Akobo Minerals is a Scandinavian-based gold exploration in Oslo, Norway and boutique mining company Current operations include exploration and boutique mine development in the Gambela region and Dima Woreda, sou
Slide 7: … with significant gold production potential
… with significant gold production potential Local exploration undertaken since 1940, with Location of license in Akobo, Ethiopia consistent results of finding gold No previous modern mining undertaken in the region 182 km2 exploration license An attractive gold-mining jurisdiction 710 km from Addis
Slide 8: Lean business and team with lengthy and complementary experience
Lean business and team with lengthy and complementary experience Jørgen Evjen Johan Sjöberg Dr. Matt Jackson Dr. Cathryn MacCallum Tesfaye Medhane Chief Executive Officer Chief Exploration Officer Chief Operational Officer Head of ESG General Manager (Etno) More than 20 years experience More than 18
Slide 9: Highly experienced board of directors with complementary skillset
Highly experienced board of directors with complementary skillset Hans Olav Torsen Jørn Christiansen Helge Rushfeldt Chairman of the board Board member Board member • Experienced board member with a • Geophysicist with extensive experience • Owner and general manager of Promin, a demonstrated histor
Slide 10: More than two decades of experience in the Akobo region
More than two decades of experience in the Akobo region 1998 - 2010 2010 - 2019 2020 2021 2022 and onwards 1998-99: Predecessors 2010: Granted a large-scale • Started new core drilling • Established the first resource Renewed current to Akobo Minerals exploration license in the Akobo program for 2
Slide 11: From pure-play exploration to an established boutique mining company
From pure-play exploration to an established boutique mining company Ethiopia and Akobo are an attractive jurisdiction for the mining sector Ethiopia has been one of the fastest growing economies growing at an average annual rate of 10 years 10% for the past 15 years1 Exploration license Dedicat
Slide 12: Uninterrupted operations and prudent ramp-up of activities
Uninterrupted operations and prudent ramp-up of activities Significant drilling activity Accumulated assays Employees 8,410 41 15,359 39 38 32 33 5,594 9,393 4,506 23 23 4,054 7,245 17 6,648 3,363 5,718 2,887 2,419 2,448 4,141 2,828 2,897 1Q'20 2Q'20 3Q'20 4Q'20 1Q'21 2Q'21 3Q'21 4Q'21 1Q'20 2Q'20 3
Slide 13: Akobo region is “low-hanging fruit” for modern gold exploration
Akobo region is “low-hanging fruit” for modern gold exploration A new frontier for gold exploration Part of the Arabian Nubian shield – home to gold Located in the Western Ethiopian Shield, an ancient mining region largely ignored by modern exploration Untapped resource base with large potential
Slide 14: Strong ESG policy and active involvement with the local community
Strong ESG policy and active involvement with the local community Dr. Cathryn Akobo Minerals recognizes the importance of Sustainable Natural Resources MacCallum ESG performance in meeting its strategic and operational goals Management Plan (“SNRMP”) Head of ESG In process of developing and impl
Slide 15: Table of Contents
Table of Contents II Company Overview III License, Resources and Mineralization IV Business Plan & Financials 15
Slide 16: Mining and exploration license awarded – major milestones
Mining and exploration license awarded – major milestones Map of the license area Attractive licenses recently awarded and renewed Licenses granted by the ministry of Mines ensure Akobo Minerals the following: The right to continue exploration in the 182 km2 for a minimum of three years, with year
Slide 17: Recent scoping study indicates low-risk high margins operations
Recent scoping study indicates low-risk high margins operations “Estimate of 243 USD per ounce for all in sustaining cost (AISC) vs 1,048 USD per ounce as Key takeaways from test work: mining industry average” 1 Recovery is possible from very simple industry standard Metric Figure Notes processing o
Slide 18: The Segele deposit – successful extension drilling ongoing
The Segele deposit – successful extension drilling ongoing Segele Artisanal pit 8.9g/t 12.9g/t 6.2g/t 88g/t New Drill Targets Planned Open Pit Resource extension - 9,243 meters Conceptual Core Drilling Holes drilled in 57 holes Holes range up to 285 meters SRK Mineral vertical depth Resource Estim
Slide 19: Great potential from identified exploration targets in the Segele area
Great potential from identified exploration targets in the Segele area Segele Trench 30 Shear zones Further opportunities Segele Extension Possible pyroxenite outcrops Resource Drilling Quartz-carbonate veins Applitic dykes Several high priority targets have been identified Mafic schist with quart
Slide 20: Highly successful exploration and resource definition
Highly successful exploration and resource definition Segele may be in top tier of high-grade gold mines globally Highly successful exploration 25.0 800 Segele Grade (Au gpt) Cash cost (USD/oz) 21.5 Potentially high cash flow small-scale mining 20.9 700 20.0 Potential to expand resources both si
Slide 21: Resource estimate from April 2021 verifies outstanding potential
Resource estimate from April 2021 verifies outstanding potential Segele Mineral Resources as of 6 April 2021 JORC Mineral Resource Estimate summary Classification Cut-off Ktonnes Au Au (Au g/t) (g/t) ounces The April 2021 Segele Gold Deposit Mineral Resource estimate has been Measured ≥0.5 0 0 0 cla
Slide 22: The Joru deposit has shown promising results
The Joru deposit has shown promising results Joru Comments Joru Core drilling completed A total of 2,264 meters of core drilling has been completed at the Joru target – 695 samples awaiting assay Significant intersections 28.10g/t over 0.85m and 20g/t over 0.75 in drill hole JODD03 29.10g/t
Slide 23: Table of Contents
Table of Contents II Company Overview III License, Resources and Mineralization IV Business Plan & Financials 23
Slide 24: New strategy moving from pure play exploration to boutique mining
New strategy moving from pure play exploration to boutique mining Boutique mining of the Segele deposit Market and financing strategy Potential to accelerate the current exploration plan with cash- NOK 37m raised in capital during 2020 and NOK 50m in 2021 flow generating boutique mining of the S
Slide 25: Corporate planning for low-risk operations
Corporate planning for low-risk operations Mine Entrance Construction Incline Shaft Development Stoping Operations CONTRACT MINING OPERATIONS All Hiring, Equipment Purchase and Training and Operations completed by experienced contractor First limited production expected before end 2022 with gradual
Slide 26: Basic and well-known gold mining operations expected
Basic and well-known gold mining operations expected Segele map area Comments • The ore will be accessed by an incline shaft, currently planned to be 290m in length, reaching a vertical depth of 160m below surface Airstrip Segele Resource Area • Easily extendable to reach deeper ore at low increment
Slide 27: Standard gold processing operations to be implemented
Standard gold processing operations to be implemented Cyanidation Crushing Circuit Mills Key milestones achieved: Legal and technical review completed Gravity Circuit In dialogue with contractors Better than expected gold recovery of 97.2% achieved in test work Grade of bulk sample found to
Slide 28: High activity level with good track-record of ahead of schedule
High activity level with good track-record of ahead of schedule 2021 Q2 Q3 Q4 2022 Q2 Q3 Q4 2023 Q2 Q3 Q4 2024 Segele and Adjacent Area Drilling (on track) Scoping Study (done) SSM Mining License Application (done) Operational SSM PFS (underway) activity SSM DFS SSM Construction, Commissioning and R
Slide 29: Company highlights
Company highlights Large-scale mining license with vast resource potential Attractive and well-established mining jurisdiction Experienced team and attractive corporate setup Established player with strong support from authorities 29
Slide 30: Appendix
Appendix 30 30
Slide 31: Gold has become a strategic asset benefiting from diverse demand
Gold has become a strategic asset benefiting from diverse demand Definition of grading (gold grams per tonne)1 Gold valuation framework Open Pit Open Pit Underground Mine According to an analysis carried out by Reuters, the price performance of gold can be explained by the interaction of four key dr