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Scandinavia-based but Ethiopia-focused gold producer Akobo Minerals’ total doré gold production for the third quarter reached about 21.5 kg, while the company achieved its first positive earnings before interest, taxes, depreciation and amortisation.
Doré gold production for September was about 6.5 kg, exceeding the monthly target of 5 kg. Cumulative doré production from the Segele mine, in Ethiopia, to date has reached about 51.5 kg.
The company says in an operational update for September that the record-high gold prices continue to support strong operational cash flow.
New operations manager Johnny Swanepoel has initiated optimisation and fine-tuning of the processing plant. Akobo highlights significant effort during September focused on cleaning and gold recovery from the plant.
Vertical shaft fabrication and detailed planning are progressing according to plan. Mobilisation of heavy equipment has started and an expert shaft-sinking team has been mobilised and is en route to site.
