By: Creamer media

Of the 7 kg produced, 5 kg were smelted and 2 kg remain in process, representing a total value of about $700 000. This brings Akobo Minerals’ cumulative doré production to date to about 45 kg.

The company has also completed a private placement with Ethiopian Investment Holdings (EIH), providing additional funding for ongoing operations and development projects. In operational leadership, Akobo Minerals appointed Johnny Swanepoel from Sutton as the new operations manager. Swanepoel brings extensive experience in mining and processing, with a record of improving gold recovery and ensuring a high purity from ore.

Operational improvements noted during the month included the installation and successful testing of two new large shaking tables, which are expected to enhance gold recovery efficiency.

The production of the headgear for the new vertical shaft, identified as a long-lead item, is under way following the payment of the first deposit. Equipment mobilisation for the sink shaft is also in progress, with the team expected on site in the coming weeks.

The company says rising gold prices have contributed positively to operational cash flow, further supporting the company’s ongoing development plans.