Akobo Minerals Ab · OSL:AKOBO
Akobo Minerals Ab — Q1 2023 Earnings Presentation
29 slides from Akobo Minerals Ab's earnings presentation, Jun 8, 2023
Slide 1: First quarter 2023 Presentation
First quarter 2023 Presentation AKOBO MINERALS AB (publ) 08.06.2023
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: Table of Contents
Table of Contents I Introduction II Operational update III Financial update IV Q&A 3
Slide 4: Scandinavian based Ethiopian gold exploration and mining company
Scandinavian based Ethiopian gold exploration and mining company Strong corporate foundation Strong local foothold, based Low-cost and flexible to support continued growth upon the principles of good operations to be supported of resources and discovery ethics, transparency and by cash flow from bou
Slide 5: Significant exploration and high margin gold production potential
Significant exploration and high margin gold production potential Segele Mineral Resource estimate by SRK Inferred and Indicated Mineral Resource of 68.811oz gold @ 22,7g/t Au Indicated Mineral Resources alone of 41.000 oz gold @ 40,6g/t High margin gold production envisaged All-in Sustaining Costs
Slide 6: ESG – an integral and vital part of the company
ESG – an integral and vital part of the company Ensuring Regulatory Compliance ESG Monitoring and Reporting • Establishing and maintaining adherence to environmental and • Collecting and analysing data and metrics following international reporting social laws and regulations that apply to gold minin
Slide 7: Ongoing ESG activities
Ongoing ESG activities • The Environmental and Social Management Plan and Annual Report have been approved and acknowledged as being very good by the Federal Environmental Protection Agency (EPA) • All environmental and social data, now recorded using a bespoke digital online platform, providing rea
Slide 8: Key events
Key events Q1 2023 Highlights Post Q1 2023 Highlights • Fabrication and shipping of the main processing plant was completed • First gold produced from the Gingibil quartz vein system by way of • The two ton/hour ultra-small processing plant arrived in Ethiopia bulk sampling • The Segele underground
Slide 9: No changes to our long-term plans
No changes to our long-term plans ▪ No meaningful gold production so far, mostly test production done with the USP ▪ Steep learning curve useful for the main processing plant ▪ Recently started bulk sampling from Gingibil to understand the potential – now only 10 minutes' drive from Segele after upg
Slide 10: Table of Contents
Table of Contents I Introduction II Operational update III Financial update IV Q&A 10
Slide 11: Segele Mine Flythrough
Segele Mine Flythrough @) AKOBOMINERALS "1
Slide 12: Mining Operations
Mining Operations Prof Steven Rupprect - Consultant Mining Engineer ”The Segele Mine is a high-grade low-tonnage project with great potential as the mineralised vein is open-ended at Mining Key Facts depth. Like many start-up mines, the development ramp-up ▪ Total mineral resource 69,000 oz, 22,7 g/
Slide 13: Underground mining is underway
Underground mining is underway Key Recent Developments ▪ Incline Shaft Length: 37m ▪ Eastern Winze Length: 26m ▪ Western Winze Length: 26m ▪ The Western Winze will hit inferred mineralization soon and after only a few weeks we will hit the indicated resource (40g/t) ▪ IW Mining Team fully manned, eq
Slide 14: Process Plant Operations
Process Plant Operations John Derbyshire - Consultant Chemical Engineer ” Akobo has been rising to the multiple challenges of Ultra Small Plant Key metrics developing a processing plant in a remote area, with the ▪ 2 t/h plant additional aim of supporting the local economy. Staffing for ▪ 40% recove
Slide 15: Main Process Plant Foundations – well advanced
Main Process Plant Foundations – well advanced ● Three crews working day and evening shifts ● Almost all consumables have been purchased ● Good progress on all sections of the foundations ● Most complex parts of the foundations completed (Mill) ● Second most complex parts of the foundations nearing
Slide 16: Processing plant under construction
Processing plant under construction ● All parts available at site – shipping complete ● Construction underway by Akobo and Solo Resources ● Many parts being constructed off foundations, ready to be fitted once foundations complete. 16
Slide 17: Exploration targets
Exploration targets Segele Hill Top Gingibil • Visible gold seen in hand specimen and • Visible Gold seen in numerous hand 423m drilling specimens • Awaiting assays • Drilling and Bulk Sampling Underway. Segele Berebere Korarima • Visible gold seen in drilling and confirmed • Abundant smaller quartz
Slide 18: Hill Top – Encouraging First Assays
Hill Top – Encouraging First Assays Assay results confirming gold in Hill Top target The Hill Top target has been tested with five holes for a combined 423.6 metres, with first assays received The Hill Top target now handed over to the Segele mine geology department New Assays Mineralization is host
Slide 19: Gingibil Orientation Flythrough
Gingibil Orientation Flythrough 19
Slide 20: Gingibil – increasingly tangible and highly prospective
Gingibil – increasingly tangible and highly prospective Bulk Sampling Started The quartz vein rubble is up to four metres thick has been bulk-sampled with an excavator. Gold has been extracted from the first parts of the bulk sample. Access to the Segele processing plant makes accurate bulk gr
Slide 21: Gingibil target – Potential near-term production with long-term growth
Gingibil target – Potential near-term production with long-term growth • Abundant visible gold in sulphide-bearing quartz of the ‘gold bearing’ type NEAR TERM PRODUCTION: • Large rock at surface with thousands of Additional throughput to the tons of quartz vein material Segele Processing Plant • Sui
Slide 22: Table of Contents
Table of Contents I Introduction II Operational update III Financial update IV Q&A 22
Slide 23: Financial performance overview
Financial performance overview All figures in ‘000 SEK Operational Expenses Development 23,343 20,345 13,892 • The company is still in the project development phase 4,944 prior to production start-up. There was no income during the quarter Q2-2022 Q3-2022 Q4-2022 Q1-2023 • Operational costs in Q1 de
Slide 24: Corporate structure and top shareholders
Corporate structure and top shareholders Corporate structure and listing Transparent corporate structure Top shareholders Rank Holding Stake Name Stock listed on Euronext Growth in Oslo and 1 5,430,512 12.70% PIR INVEST HOLDING AS 2 3,343,398 7.80% NAUTILUS INVEST AS Frankfurt Stock exchange (tick
Slide 25: Key metrics
Key metrics ‘renee heareanes| En ey ee) a ey ee ee asm 15702814306 Sne 6353177318 TaeTZ 195519975 ox 2psi 2am 1016 ox Comerte loon SEX Longterm loon ex Change cash fecmuistes 127 =a yaaa) 2N_ 88H 8G 35853505505 ‘asoys samples A . re ee : : > > eneated (reac) ‘Accomisiod «13215271871 ga 28 SS 0080080
Slide 26: Income statement – Group
Income statement – Group all figures in SEK Comments to figures • SEK 1.7 million in other expenses mainly relate to consulting services such as accounting, auditing and legal both in Norway and Sweden • SEK 15.7 million in other expenses mainly relate to mining activities in Ethiopia • Personnel co
Slide 27: Balance sheet – Group
Balance sheet – Group all figures in SEK Comments to figures • Fixed assets are capitalised exploration costs and local mining equipment in Ethiopia • Long term debt is the 5.000 ounces gold loan from Monetary Metals 27
Slide 28: Cash flow – Group
Cash flow – Group all figures in SEK 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 • Cash flow from short-term debt relates to a convertible loan • Translation dif
Slide 29: Q&A
Q&A 29 29