Scottsdale, AZ–Nov 15, 2022 Monetary Metals is pleased to announce it has closed a Gold Bond for Akobo Minerals AB (AKOBO.OL), a publicly traded company, headquartered in Oslo, Norway. The term of the bond is two years, and investors are earning an annual interest rate of 19% on gold, paid in gold.
The proceeds will be used to develop the mine entrance to Akobo’s Segele gold deposit, in addition to building and installing a processing plant on site.
The bond was oversubscribed, with high net-worth investors from the US and abroad leading the charge.
“There is strong and growing demand for ‘inflation-proof’ investments. Our clients can earn an attractive yield in gold, which is impervious to currency debasement,” said Keith Weiner, the Founder and CEO of Monetary Metals. Weiner continued, “We’re beginning to ramp up our gold bond program. We established a track record with our gold leases, completing over 40 so far. Gold bonds are another way to offer the same value proposition, which is, A Yield on Gold, Paid in Gold®.”
Monetary Metals’ innovative gold offerings connect precious metals investors with companies that have a need for gold and silver financing. Companies get financing denominated in gold or silver, which eliminates the need to hedge, while investors earn a yield on precious metals and grow their total ounces.
Jørgen Evjen, CEO of Akobo Minerals stated: “It was great working together as a team with Monetary Metals to create a compelling offer for our company and shareholders which will now bring into production the world-class grade deposit in Segele. In addition, this funding round will allow us to further develop our internationally-recognized ESG program, which includes the production of “green gold” through use of carbon-credits from local replanting of vegetation and increased biodiversity.”
“The economics of the Segele gold deposit are compelling. We tested the deal against various declines in the gold price, reductions in projected recovery rates, and rising costs of operating the mine. The project is quite robust under such combinations of adverse conditions,” said Saad Zein, Vice President of Corporate Relationships for Monetary Metals who worked closely with Akobo to structure and execute the deal.
The minimum investment for the bond was 10 ounces of gold. For more information on Monetary Metals’ gold bonds, please visit here: Gold Bonds.
About Monetary Metals
Monetary Metals® is Unlocking the Productivity of Gold™ by offering a Yield on Gold, Paid in Gold® to investors, and Gold Financing, Simplified™ to gold-using businesses (mints, miners, refiners, jewelers, etc.). In addition, the company’s market analysis and proprietary charts, including the gold forward rate, are utilized by gold investors and gold-using businesses globally.
About Akobo Minerals
Akobo Minerals is a Scandinavia-based gold exploration and boutique mining company, currently holding an exploration license covering 182 km2 and with an ongoing mine development in the Gambela region and Dima Woreda, Ethiopia. The company has established itself as the leading gold exploration company in Ethiopia through more than 12 years of on-the-ground activity.
Akobo Minerals has an excellent relationship with local communities all the way up to national authorities and it places environment, social and governance (ESG) at the heart of its activities – as demonstrated by an industry-leading community program.
The company is uniquely positioned to become a major player in the future development of the very promising Ethiopian mining industry.
Akobo Minerals Contact Information:
Jørgen Evjen, CEO Akobo Minerals
Mob: +47 92 80 40 14