https://newsletter.en.creamermedia.com
Flow|Gold|Mining|Resources|srk|Flow|Operations
Flow|Gold|Mining|Resources|srk|Flow|Operations
flow-company|gold|mining|resources|srk|flow-industry-term|operations

Akobo confident its Segele mine will generate $50m in free cash flow in two years

23rd May 2022

By: Marleny Arnoldi

Deputy Editor Online

     

Font size: - +

Ethiopia-focused gold miner Akobo Minerals has declared an inaugural cash flow estimate for the Segele mine of $42-million in 2023 and $15.1-million in 2024.

The mine is on track to start producing gold early in 2023.

The first cash flow estimate follows Akobo signing a deal with Solo Resources as a partner to develop the Segele processing plant, as well as an updated mineral resource estimate undertaken by consultancy SRK Australasia.

Based on the current inferred and indicated mineral resource estimate of 94 000 t grading 22.7 g/t gold, for 68 811 oz, the company is confident that Segele will be a highly profitable mine operation with estimated free cash flow of $50-million up until the end of 2024.

The cash flow model is based on the assumption of an average gold price of $1 800/oz for 2023 and 2024.

“With more targets being explored and the fact that the orebody is open at depth, we are confident that mining operations will continue for many years beyond 2024,” says CEO Jørgen Evjen

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

John Ratcliffe
John Ratcliffe

At John Ratcliffe, we are aftermarket specialists for heavy-duty on and off-road vehicles. We engineer and retrofit advanced safety systems, engine...

VISIT SHOWROOM 
Rentech
Rentech

Rentech provides renewable energy products and services to the local and selected African markets. Supplying inverters, lithium and lead-acid...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 14 March 2025
Magazine round up | 14 March 2025
14th March 2025

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.148 0.234s - 172pq - 2rq
Subscribe Now