Aankondiging • Jun 25
Akobo Minerals AB (publ) Elect Ermias Geletew Eshetu as Ordinary Members of the Board of Directors Akobo Minerals AB (publ) at its annual general meeting held on 25 June 2026, approved elect Ermias Geletew Eshetu as ordinary members of the board of directors. Board Change • May 20
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 3 non-independent directors. Director Wondwossen Tessema was the last director to join the board, commencing their role in 2025. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Apr 17
Akobo Minerals AB Provides Operational Update on Segele Mine Akobo Minerals AB (publ) provided an operational update related to the current fuel supply situation and its impact on the Segele mine. Disruptions in global fuel supply, including reduced tanker traffic through the Strait of Hormuz, have constrained fuel availability in Ethiopia, which relies on imported diesel. Against this background, and as a precautionary measure, the Company will temporarily scale back operations at Segele, while maintaining readiness to resume operations as soon as reliable diesel deliveries are restored. This measure is implemented in a structured and controlled manner. Based on the latest information, the Company expects a diesel shipment to reach site in early May. The situation is monitored continuously, and the Company is prepared to rapidly remobilise operations once reliable diesel deliveries are confirmed. The situation does not affect the Company's mineral resources, underground infrastructure or long-term development plans for the Segele mine. The Company has sufficient liquidity to manage the temporary disruption in the short term and continues to maintain a constructive dialogue with key stakeholders. Akobo will provide further updates as appropriate. Aankondiging • Apr 11
Akobo Advances Vertical Shaft Development and Prepares for First Export Akobo reported good progress on the vertical shaft. Hard rock has now been reached, and final collar work is being completed to stabilise the headgear infrastructure. Once this work is completed, shaft sinking will continue at a faster pace in hard rock. From this depth onwards, the shaft diameter is reduced, enabling quicker cycle times in drilling, blasting, and mucking operations. There are currently an estimated 75 metres remaining to the bottom of the shaft. Export permission was approved in March by the National Bank of Ethiopia under the current framework, where 50% of export proceeds are retained in USD and 50% are converted to local currency. The Company has received indications that this framework may change to 100% USD retention, similar to the current regime for the export of services in Ethiopia. Akobo is now working on the practical arrangements for its first export, an important operational milestone. Aankondiging • Dec 20
Akobo Minerals AB (publ), Annual General Meeting, Jun 18, 2026 Akobo Minerals AB (publ), Annual General Meeting, Jun 18, 2026. Aankondiging • Nov 08
Akobo Minerals AB (publ) Announces Operational Update for October 2025 Akobo Minerals AB (publ) provides the following operational update for October 2025. Doré gold production for October is approximately 7.0 kilograms, exceeding the monthly target of 5 kilograms. Cumulative doré production to date is approximately 58 kilograms. Steady operational performance continues at the Segele mine, with production well balanced against ongoing work on the vertical shaft .Gold price still at record high levels. Mobilization and site preparation for the vertical shaft have commenced. Headgear fabrication is on schedule, with load testing planned for early November and packing and shipment to site expected by the end of the month. Of the total 60 meters planned in phase 1 of the shaft development, 15 meters have been completed, with an additional 15-20 meters expected before reaching hard rock - keeping the project on schedule. Ongoing camp upgrades are underway to improve the quality of life for site personnel. Works include the construction of multiple ablution blocks, upgrades to the catering kitchen, and installation of a potable water treatment plant to reduce plastic use on site. Aankondiging • Nov 01
Akobo Minerals AB (Publ) Announces Resignation of Helge Rushfeldt as Member of the Board of Directors, Effective November 01, 2025 Akobo Minerals AB (publ) has been informed that Helge Rushfeldt has decided to resign from his position as a member of the Board of Directors, effective from 01 November 2025. The resignation follows increased professional commitments related to his position as Project Manager at Blue Moon Metals and their Norwegian Nussir project. Aankondiging • Aug 12
Akobo Minerals AB (publ) announced that it has received $3 million in funding from Ethiopian Investment Holdings Akobo Minerals AB announced that it has completed a private placement and issued 15,000,000 shares at a price of $0.2 per share for aggregate gross proceeds of $3,000,000 on August 11, 2025. The transaction included participation from Ethiopian Investment Holdings resulting in a total 7.4% stake in the company. Aankondiging • Jul 25
Akobo Minerals AB (publ) to Report Fiscal Year 2025 Results on May 30, 2026 Akobo Minerals AB (publ) announced that they will report fiscal year 2025 results on May 30, 2026 Aankondiging • Jul 11
Akobo Minerals Provides an Operational Update for June 2025 Akobo Minerals AB (publ) pleased to share its final operational update for June 2025. Total doré gold production to date: Approximately 30 kilograms. Contribution from May and June: Doré gold bars: Approximately 10 kilograms, ~9,2 kilograms from the past six weeks of production~0.9 kilograms from the first two weeks of May. High-grade material stockpile: ~200 tonnes from June remains to be processed. Average grade: Estimated at 30 g/t. Aankondiging • Jul 02
Akobo Minerals AB (publ) Provides an Operational Update Following the Latest Smelting Activity at the Segele Mine Akobo Minerals AB (publ) provided an operational update following the latest smelting activity at the Segele mine. First successful smelt completed with the new gravity setup, covering part of the production from the second half of May and throughout June: 7.1 kilograms of dore produced; Average grade of 30 g/t (not accounting for material sent to tailings for later processing); Purity level of 83%, representing a solid improvement from latest processing; A good portion of coarse gold and stockpiled material from June production remains to be smelted; The upgraded gravity recovery system is now fully operational, with improvements by Sutton Global contributing to enhanced recovery and purity. From fine panning and magnetic separation to acid washing and shiny dore bars. Mining and processing activities at Segele continue according to plan, with ongoing operations in high-grade zones. The team is currently blending ore from different areas to maintain a stable feed into the processing plant. These measures are supporting consistent production and continued optimisation of operations. Aankondiging • Jun 25
Akobo Minerals AB (Publ) Elects Wondwossen Zeleke Tessema as Ordinary Members of the Board of Directors Akobo Minerals AB (publ) at its annual general meeting held on 25 June 2025, elected Wondwossen Zeleke Tessema as ordinary members of the board of directors. Aankondiging • Jun 20
Akobo Minerals AB (publ) Provides an Operational Update Covering the Latest Mining and Processing Activities at the Segele Mine in Ethiopia Akobo Minerals AB (publ) provided an operational update covering the latest mining and processing activities at the Segele mine in Ethiopia. Since mid-May, operations have shifted from development mining to production mining. Two separate working areas are extracting high-grade ore in line with the block model. High-grade gold has also been encountered and is being mined in structures outside the current resource model. Processing company have reconfigured processing plant, together with Sutton Global, to run on pure gravity separation, completely chemical-free. This green recovery process significantly reduces environmental footprint and lowers production costs. It also allows to postpone the construction of a new tailings storage facility (TSF), in addition to improving recovery and purity. The new gravity circuit setup was successfully commissioned in May. It is designed to accommodate the future vertical shaft and provides sufficient capacity to defer construction of a new TSF, reducing near-term capital expenditure until sufficient cash flow from the new shaft is able to fund it. This is expected to be happen in early 2026. The plant now combines a cyclone unit and a Falcon concentrator with a shaking table, together forming a solid and well-proven gravity-based technology widely used in the industry. Smelting Smelting is temporarily on hold to optimise recovery and to ensure that the new gravity setup is working as expected. The next smelting will be conducted with metallurgical experts from Sutton Global, who are expected on site in the last week of June. Current gravity concentrate supports a total production estimate of ~10 kg for May-June. Aankondiging • May 16
Akobo Minerals AB (publ) announced that it has received NOK 11 million in funding On May 14, 2025, Akobo Minerals AB (publ) closed the transaction. Aankondiging • May 10
Akobo Minerals AB (Publ) Reports Positive Smelting Result from Latest Batch Akobo Minerals AB (publ) provided an operational update highlighting improved smelting results from a recent production batch and ongoing efforts to access higher-grade zones at the Segele mine. Gold production in March and April yielded a total of 1 kilogram, which fell below expectations. A small smelting conducted on 5 May, covering three days of production, resulted in the recovery of 445 grams of gold. The average grade was approximately 9 grams per tonne (g/t), supported by increased production following recent operational changes and improved access to additional areas in the mine. This outcome marks a clear improvement and represents an encouraging step toward achieving production levels more consistent with the Segele deposit's long-term potential. The Segele deposit is characterised by variability in gold grade due to its nuggety mineralisation. To illustrate this, the image below shows the area currently being mined, with figures and data from the SRK block model: While the overall average grade of all mined material since production began remains high--close to 20 g/t--the short-term predictability of gold output is affected by the inherent variability of the ore body. The Company continues to work with three active headings underground and is focused on increasing daily tonnage through process improvements. A key development in this effort is the planned vertical shaft, which will provide more reliable and consistent access to high-grade sections of the ore body. This is expected to significantly enhance both production stability and overall efficiency. Aankondiging • Feb 12
Akobo Minerals AB (Publ) Provides an Operational Update for January 2025 and Details on New Vertical Mine Shaft Akobo Minerals AB (publ) provided an operational update for January 2025 and details on the new vertical mine shaft with a 100-ton-per-day capacity. Increased production ahead: Stoping (mining the ore body) has commenced from the Western Winze, while the Eastern Winze is nearing completion for its prospect drive to start at the new 575 level. Going forward, mainly ore will be mined, marking a shift toward more stable production. It is important to highlight that underground mining in a deposit like Segele, which exhibits a strong nugget effect, naturally results in month-to-month production variations. While short-term fluctuations can occur, long-term production expectations remain unchanged. All-time high gold price: The recent record gold price is expected to positively impact future cash flow from the Segele mine. Due to the compact and highly concentrated nature of the orebody, Akobo Minerals has decided to establish a vertical shaft to improve access and increase underground hoisting capacity. This infrastructure upgrade will significantly accelerate production, aligning it more closely with the processing plant's capacity. Additionally, the vertical shaft will enable activation of the Carbon-in-Leach (CIL) circuit, increasing gold recovery rates from approximately 60% to 93%. Key features of the vertical shaft; Phase 1: Initial shaft depth of 60 meters, with infrastructure capable of extending to 120 meters. Timeline: Expected completion within 12 to 16 weeks from commencement. Design: Approximately 3 meters in diameter, accommodating cages, ventilation, water pumping, and electrical infrastructure. Hoisting system: Double-cage arrangement for personnel and ore transport. Hoisting capacity of approximately 3 tonnes per hoist, with a total capacity of up to 100 tonnes per day, depending on underground ore availability. Electrically powered winder, backed by a dedicated diesel generator with redundancy from the process plant's power system. Manufacturing and installation: Headgear, control, and winch rooms will be manufactured in South Africa and shipped to Segele for assembly and commissioning. The transition to a vertical shaft represents a shift aimed at improving long-term production efficiency. Aankondiging • Dec 05
Akobo Minerals AB (Publ) Announces Production Guidance for the Month of November 2024 Akobo Minerals AB (publ) announces production guidance for the month of November 2024. For the month company estimated total production of 8 kg of gold in November. This includes 6.5 kg of gold already smelted and approximately 1.5 kg of additional gold processed but not yet smelted. Aankondiging • Oct 08
Akobo Minerals AB (Publ) Announces First Gold Bar Produced from the Segele Mine Akobo Minerals AB (publ) announced the successful production of the first gold bar from its Segele Mine. This significant milestone marks the beginning of gold production as the company moves forward with its operational plans. The 1.4 kg gold bar was smelted from approximately 170 tons of lower-grade material collected and processed from development tunnels, located on the edge of the Segele ore body. This initial batch yielded an average grade of 8 grams per ton. While the results are very promising, it is too early to provide a definitive recovery rate or the gold purity grade, as the process is still in its early stages. The company anticipates mining higher-grade ore once stoping activities begin. Importantly, the tailings generated from this initial processing phase will be stored and later reprocessed through Carbon-in-Leach (CIL) tanks once these are fully operational. This additional step will allow to maximize recovery and ensure maximum extraction of gold from mineral resources. Next, company will continue blasting and stockpiling material from the Segele mine, followed by further production batches. As production progresses, The company expects both an increase in the gold content from the mine and improved recovery rates from the processing plant. This achievement brings closer to company's goal of establishing Akobo Minerals as a leading gold producer in the region. New Risk • Sep 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -kr160m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr160m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Negative equity (-kr4.6m). Earnings have declined by 75% per year over the past 5 years. Shareholders have been substantially diluted in the past year (257% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (€30.3m market cap, or US$33.8m). Aankondiging • Sep 19
Akobo Minerals AB Reports Good Progress in the Segele Mine Development Akobo Minerals AB announced significant progress in the development of the Segele mine. The completion of the crosscut between the Western and Eastern tunnels marks a major milestone, paving the way for the commencement of first stoping activities into the richest part of the Segele ore body. In the recent development phase, the mining team successfully reached the orebody in both the Western and Eastern tunnels. The completion of the crosscut is a crucial achievement, as it connects the two tunnels and enhances several aspects of the mining operation. This crosscut not only provides a secondary exit, thereby improving safety, but also optimizes ventilation and logistics, laying the groundwork for the transition from mine development to focusing on stoping. Stoping is a critical process in underground mining, involving the extraction of ore from a series of large inclined openings, known as stopes, which are created in the orebody. Essentially, stoping creates voids or spaces where the ore has been removed. The strategic positioning of the crosscut between the Trial Stope and Stope 01 provides the company with the flexibility to investigate both stopes in parallel rather than in sequence. This parallel approach allows for the possibility of prioritizing Stope 01, which is located in the richest part of the ore body. Aankondiging • Sep 02
Akobo Minerals AB Provides Operational Update from the Segele Mine Akobo Minerals AB provided an operational update from its Segele mining activities, reporting that the company has reached several critical milestones. Daily ore production has commenced at the Segele mine. Since intersecting the ore body in the second tunnel two weeks ago, Akobo Minerals has been consistently producing and stockpiling ore. Currently, the company is in the early phases of ore extraction, advancing toward areas expected to contain high-grade material. Early results are promising, with substantial visible gold observed. The processing plant at Segele has successfully been commissioned and is currently in the ramp-up phase. Although commissioning typically takes several months, Akobo Minerals has expedited the process, achieving significant progress within a short timeframe. Feedback from experts and consultants indicates that the plant is in excellent condition. The focus is now on fine-tuning the processes to maximize gold recovery and minimize losses. The first batch of very low-grade ore has been successfully processed through the entire plant, from crushing to smelting. While the gold yield was low, as anticipated, this marks a significant milestone, demonstrating the plant's operational efficiency. Looking ahead to September, Akobo Minerals expects to continue and expand ore production from the mine and run the processing plant in batches to secure maximum gold recovery. The gold will then be further processed at their partner MKS PAMP's refinery in Switzerland and then sold in the gold spot market. Akobo Minerals remains optimistic about the future of the Segele mine and is well-positioned to scale up production in the coming months. With the end of the rainy season, they anticipate more stable and efficient working conditions, which will further enhance their operations. Aankondiging • Aug 02
Akobo Minerals AB (publ) Successfully Processes First Low-Grade Ore Through Segele Processing Plant Akobo Minerals AB (publ) announced the successful processing of the first low-grade ore through the Segele processing plant, resulting in the production of the initial gold concentrate. This achievement marks the final phase of commissioning for the processing plant, validating its functionality under operational conditions. It is important to note that the processed ore is from the low-grade development phase of the Westen Winze and does not represent any high-grade material. The company continues to focus on testing and optimizing the plant's capabilities with low-grade ore, as part of its measured approach towards full production. The gradual ramp-up of production remains a strategic priority, reflecting the company's deliberate efforts to ensure operational stability and efficiency. Concurrently, development work in the Eastern Winze progresses, including side shaft development towards the Westen Winze. While acknowledging the early stages of this process, Akobo Minerals anticipates continued advancements in plant optimization and operational readiness in preparation for future phases, including the introduction of higher-grade ores. Akobo Minerals continues its collaboration with partners to enhance system efficiencies and increase production capacities in the coming months. Aankondiging • Jul 23
Akobo Minerals Reports Successful Commissioning of Segele Gold Processing Plant Akobo Minerals announced that the Segele processing plant is now operational. This milestone represents a significant advancement for the company's operations in Ethiopia. The commissioning process has successfully activated the majority of the Segele plant, allowing Akobo Minerals to process a substantial amount of ore efficiently and safely. Last week, the first phase of commissioning was completed, with Gekko Systems and Solo Resources overseeing the setup of the milling, grinding, Falcon concentrator, InLine Leach Reactor, and furnace in the gold room. The final phase, the activation of the InLine Leach Reactor (ILR), was completed by Gekko Systems. The company anticipates an extraction efficiency of 76% from the concentrator and ILR system. Akobo Minerals appreciates the strong support and interest from the Ethiopian Government in the Segele project. The company recently hosted a delegation, including Deputy Prime Minister Temesgen Tiruneh, Minister of Mines Habtamu Tegegne, and Gambella President Omod Ojulu, who were on-site to oversee the first run of operations. In line with a phased approach to optimize both operational efficiency and cost -effectiveness, the commissioning of the CIL (Carbon in Leach) system will be deferred until production volumes are increased. This strategy ensures that the plant operates in a cost-effective manner while allowing the team time to familiarize themselves with the initial phase of the plant. Tailing from the current ore will be stored and reprocessed once the CIL tanks are operational. The plant is designed with the capability to produce 4,000 ounces of gold per month, with an expected recovery rate of 96%. Additionally, its modular design allows for future upgrades as the Segele mine and adjacent targets are developed, ensuring the plant remains adaptable to evolving operational needs. Currently, the company is blasting and mining ore from the Western winze and expects to process low-grade ore through the plant in the coming weeks. New Risk • Mar 10
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 105% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Negative equity (-kr17m). Earnings have declined by 90% per year over the past 5 years. Shareholders have been substantially diluted in the past year (105% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (€9.17m market cap, or US$10.0m). Aankondiging • Feb 29
Akobo Minerals AB (publ) has filed a Follow-on Equity Offering in the amount of NOK 28.346785 million. Akobo Minerals AB (publ) has filed a Follow-on Equity Offering in the amount of NOK 28.346785 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 28,346,785
Price\Range: NOK 1
Transaction Features: Rights Offering New Risk • Feb 06
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: €8.33m (US$8.95m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr150m free cash flow). Share price has been highly volatile over the past 3 months (21% average weekly change). Negative equity (-kr17m). Earnings have declined by 90% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (€8.33m market cap, or US$8.95m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). Aankondiging • Sep 07
Akobo Minerals AB (publ) announced that it has received NOK 34.4 million in funding Akobo Minerals AB announced a private placement to issue a 20% unsecured convertible loan at an issue price of NOK 34,400,000 per loan for the gross proceeds of NOK 34,400,000 on September 6, 2023. The transaction included participation from existing investors. The loan bears 20% interest rate and matures 2 years from the date of closing. The Loan may be converted into shares on a quarterly basis or at the maturity date, subject to certain conditions being met and conversion price of NOK 7 per share. The transaction included participation from board of directors who have contributed for NOK 4,700,000. The loan matures on September 6, 2025. Aankondiging • Aug 22
Akobo Minerals AB (publ) announced that it expects to receive NOK 30 million in funding Akobo Minerals AB announced a private placement to issue 20% convertible loan for the gross proceeds of NOK 30,000,000 on August 21, 2023. The transaction will include participation from from a group of major shareholders and certain other stakeholders. The loan bears 20% coupon rate and matures 2 years from the date of issuance with conversion price of NOK 7 per share. The transaction is expected to close the financing by the end of the month. New Risk • Jul 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of German stocks, typically moving 7.2% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr147m free cash flow). Earnings have declined by 88% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Share price has been volatile over the past 3 months (7.2% average weekly change). Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (€30.6m market cap, or US$33.8m). New Risk • Jul 20
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 24% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-kr147m free cash flow). Earnings have declined by 88% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (24% increase in shares outstanding). Market cap is less than US$100m (€28.0m market cap, or US$31.2m). Aankondiging • Jun 28
Akobo Minerals AB (publ) Appoints Helge Rushfeldt as Head of Mining Operations, Effective July 1, 2023 Akobo Minerals AB (publ) announced that Helge Rushfeldt will join Akobo Minerals' executive management group from 1st of July 2023 as head of mining operations. With more than 20-year experience from the Norwegian mining industry, Rushfeldt brings a wealth of knowledge and expertise to the Akobo team as it transitions from development to production. Rushfeldt has been a consultant to the Norwegian mining and minerals industry for the last 10years. He has also worked at many of Norway's major mines and mineral processing facilities including Titania AS, Norwegian Talc AS and Hustadmarmor AS. His scope of activity has ranged from production management to exploration projects via financing towards production. Rushfeldt was vice president, then president, of the Norwegian Mining Association between 2012 and- 2015. He is the co-author of a Norwegian book on health, safety and environment in the mining industry, published in 2020. He holds a Master of Science in Mineral Processing from the Norwegian University of Science and Technology (NTNU) in Trondheim, Norway. Rushfeldt has been a board member at Akobo Minerals since late 2021. He recently spent two weeks on-site in Ethiopia learning more about the project and building relationships with the operations team. Now that Rushfeldt is a member of the management team, he will step down as member of the board once a qualified replacement is found. Board Change • Feb 10
No independent directors Following the recent departure of a director, there are no independent directors on the board. The company's board is composed of: No independent directors. 5 non-independent directors. Director Carl Eide was the last director to join the board, commencing their role in 2022. The company's lack of independent directors is a risk according to the Simply Wall St Risk Model. 
