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Strong start of year performance for Akobo

Akobo Minerals reached gold production of approximately 8.0 kg in January and 7.5 kg in February, totalling 15.5 kg at an average grade of 25.0 g/t.

While cumulative production reached approximately 80.5 kg since start-up and cash and unsold gold amounted to approximately $6.0 million at the end of February.

Civil works for the vertical shaft headgear foundation, as well as temporary winch and headgear installation, have also been completed, while shaft sinking activities have recommenced.

These developments at the Scandinavian-based Ethiopian gold producer and explorer have taken place after a robust operational fourth quarter of 2025, representing it strongest operational quarter to date, with revenues of $3.2 million and EBITDA of $1.4 million, representing the company’s second consecutive EBITDA‑positive quarter.

Cash at the end of the quarter amounted to $3.6 million, and the company expects to remain EBITDA-positive in the first quarter of 2026.

Some of the important events in fourth quarter 2025 included gold production of approximately 21.5 kg at an average grade of 22.2 g/t, second consecutive EBITDA positive quarter of approximately $1.4 million, revenue of approximately $3.2 million and cumulative production reaching approximately 73.0 kg since start-up.

Headgear fabrication was also completed and sent to site and a decision taken to extend the vertical shaft to final planned depth in one continuous phase.

Civil works were also commenced for the vertical shaft headgear foundation, with all remaining convertible bonds converted into equity, simplifying the capital structure. In addition, at the end of the quarter there were approximately 600 t of blended material available for processing.

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VUKA Group
Staff Writer

VUKA Group

VUKA Group is a business with a purpose. We are deeply engrained in the fabric of Africa and the emerging industries therein. As the parent company of leading conferences and media publications in various industries across Africa, VUKA Group serves as the central hub for all key sectors. With 20 years of experience operating in the African market, VUKA Group has become an ...