Akobo Minerals announces results for the fourth quarter of 2022
OSLO, 09 March 2023: Akobo Minerals AB (publ) (ticker: AKOBO), the Scandinavian-based Ethiopian gold exploration and boutique mining company, today reported its fourth quarter 2022 results. As the company is still in the project development phase prior to production start-up, there was no income during the fourth quarter of the year. The net loss for the quarter was SEK 34.2 million. The company has a loan of USD 8.5 million (repayable as 5,000 ounces of gold) and a cash position of SEK 56.3 million. KEY COMPANY HIGHLIGHTS · A 'de-risked' project · Significant cash flow