Akobo Minerals secures international funding for its Ethiopian gold mine project
OSLO, 09 November 2022: Akobo Minerals AB (Euronext Oslo – ticker “AKOBO”), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today announced with reference to the stock exchange announcement of 10 August 2022, that it has successfully secured a US$ 8.5 million gold loan facility from US based Monetary Metals.
The net proceeds from the loan facility, secured through its wholly-owned subsidiary, Abyssinia Resources Development AS, will ensure that Akobo Minerals has the financial strength to accelerate the final phase of its mine development at Segele.