AXMIF - Axmin Inc. (Gold Royalty)

Discussion in 'Stock picks and trading strategies' started by goldismyfriend, May 17, 2018.

  1. AXM.V Year End Results. (Finacials + MD&A) Ending December 31st 2017
    All Information Can Be Found On www.Sedar.com

    Tickers: AXM(CDN) & AXMIF(US)

    Price: $0.14
    Common Shares: 130,497,381

    Options: 8,240,000

    Insider/Institutional Holdings: 82,089,114 – 63%

    Financials For 2017 – All Numbers Are In USD. 2016 Comparison Numbers Added
    Multiply By 1.28 To Get CAD Value

    ASSETS($USD)
    Cash: $1,115,331 (2016 - $270,238)
    Receivables: $610,477 (2016 - $133,799)
    Prepaid Expenses: $12,934 (2016 - $12,084)

    Total Assets: $1,738,742 (2016 - $516,121)

    LIABILITIES($USD)

    Accounts Payable: $2,440,820 (2016 - $2,448,203)
    Amounts Due To Related Parties: $190,355 (2016 - $180,979)
    Liabilities Of Discontinued Operations: $323,103 (2016 - $323,103)
    Total Liabilities: $2,954,278 (2016 - $2,952,285)

    Revenue($USD)
    Royalty Income: $1,585,578
    G&A Expenses: $388,268
    Net Income: $1,141,752

    2017 Net Income Converted Into Earnings

    $1,141,752USD X 1.28CAD = $1,461,443 CAD earnings for 2017

    $1,461,443 / 130,497,381 = $0.011 cents earnings per share in CAD

    MD&A Highlights

    Operations

    Central African Republic – Passendro Gold Project

    The Company’s primary asset is the Passendro gold project, which is situated in the centre of a 25-year Mining License (355 sq km) that was awarded to AXMIN in August 2010. At the same time, the Company was also awarded two, three-year renewable Exploration Licenses, Bambari 1 and 2 (1,240 sq km), which ring fence the Mining License and cover a 90 km strike along the highly prospective Bambari greenstone belt.

    November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued the Ministerial Order No 246/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year for exploration and research of the primary layer of gold and others related to substances of Licenses of BAMBARI 1 and 2 to Aurafrique SARL, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within duration of one year from November 28, 2016 to November 27, 2017. In 2016, the Company incurred $1,000,000 for the extension of the licenses of BAMBARI 1 and 2, which is included in accounts payable and accrued liabilities in consolidated statements of financial position as of December 31, 2016.


    On March 26, 2018, the Minister of Mining and Geology issued an executive order No 032/18/MMG/DIRCAB/DGM to grant Aurafrique SARL an extension period of exemption from exploration and research for one (1) year, running from March 22, 2018 to March 21, 2019.


    The Company through its in-country staff have maintained close communications with senior ministers and officials in Bangui and also in Bambari which is the closest city to the Company’s asset near Ndassima. AXMIN’s country manager Mr Boubacar Sidbe recently meet with the Vice Mayor of Bambari and Sub-prefect to discuss the situation on the ground and express the Company’s desire to get back on site. Meetings have also been held with the Mining Minister and Chief of the Office of the Head of State. AXMIN remains confident that stability will eventually return to the country and that the Company will be well positioned and ready to work with the elected government of the CAR to develop a pragmatic mining plan focusing on the extremely high-grade deposits that will be safe for our employees and contractors, have limited capital expenditure and hopefully achieve very profitable returns in a very timely fashion for shareholders.


    As of the date of this report, operations at Passendro remain suspended and although the Company continues to maintain a presence in the CAR (through its administrative office and permanently stationed employees in Bangui) and relationship with the State in the CAR, the Company is unable to predict when it will be able to resume its operations at Passendro for the foreseeable future, if at all. As a result, impairment in the amount of $37,346,576 was recognized at December 31, 2013 on exploration and evaluation (“E&E”) assets for the Bambari properties to reflect the decrease in their recoverable value as of result of the current unstable situation in CAR. As at December 31, 2017, given that impairment was recognized and the unstable condition remains the same, the residual value of E&E assets for the Passendro gold project was written down to $nil in 2016.


    This impairment recognized in the financial statements does not in any way mean that the Company is relinquishing its rights to the assets and it reflects the utmost conservative view by management on the objective circumstances and will be reviewed annually and subject to recovery when certain conditions are met pursuant to the accounting standards the Company has adopted.


    Senegal Joint Venture


    With regarding of Axmin owned 20% interest in the Sounkouko and Heremokono explorations permits, on June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After these Royalty Elections, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. Axmin’s royalty rights are intended to continue and survive the Joint Venture Agreement and remain tied to the permits themselves, irrespective of title holder.


    Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit. The total royalty income for the year ended December 31, 2017 was $1,585,578 (for the year ended December 31, 2016 - $980,380). The royalty is applied to the production of gold from the Gora deposit, located in the Senegal Republic. The Gora deposit is operated by Axmin's joint venture partner, Sabodala Mining Company SARL, a wholly owned subsidiary of Teranga Gold Corp.


    In February 2012, AXMIN elected to hold a 1.5% NSR royalty interest in the Gora deposit. Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit.


    During the year ended December 31, 2017, the Company reported royalty income of $1,585,578 from Gora Projects, compared with $980,380 for the same time period of 2016.


    Readers are advised that the information about the Gora project contained in this MD&A is based on information publicly disclosed by Teranga and has not been independently verified by the Company. Specifically, as a royalty holder, the Company has limited, if any, access to the Gora project and is dependent on the operator of the property and its qualified persons to provide information to the Company regarding the project or on publicly available information and the Company generally has limited or no ability to independently verify such information.


    Results of Financial


    For the year ended December 31, 2017, Axmin reported royalty income of $1,585,578 from Gora Projects, compared with $980,380 for the same time period of 2016.


    The net income for the year ended December 31, 2017 was $1,230,930 compared to an $246,758 net loss in the same period of 2016, an increase in the net income of $1,477,688. The increase in net income was mainly due to:


    Increased in royalty income of $605,198 from $980,380 in 2016 to $1,585,578 in 2017.


    Decreased in expenses of $922,115 in the year ended December 31, 2017 from $1,310,383 in the year of 2016 to $388,268 in the same period of 2017. The decrease in expenses was primarily due to a $1,003,274 decrease in project costs due to the $1,000,000 consulting fee incurred in 2016 for the extension of Exploration Licenses of BAMBARI 1 and 2 and the extension of exemption from the development work and productions of the Passendro gold, which was not incurred in the year of 2017. The decrease in expenses was also due to $11,410 decrease in consulting fees, offset by a $14,283 increase in salary and wages, a $69,658 increase in share-based compensation, and a $9,078 increase in travel expenses. Offset by:


    Decreased in other income of $49,625 from $83,245 in 2016 to $33,620 in 2017.


    For the fourth quarter ended December 31, 2017, the Company incurred an income of $437,814 from continuing operations compared with a loss of $841,007 from continuing operations for the quarter ended December 31, 2016, an increase in the net income of $1,278,821. The increase in net income during the quarter ended December 31, 2017 was mainly due to the followings:


    Increased in royalty income of $489,441 from $125,282 in 2016 to $614,723 in 2017.


    Decreased in expenses of $957,219 in the fourth quarter of 2017 compared with the same period of 2016. The decrease in expenses was primarily due to the $1,000,000 in project costs related to consulting fee for the extension of Licences of BAMBARI 1 and 2 incurred in 2016, which was not incurred in the same fiscal year of 2017. The decrease in other income was primarily due to the decrease in loss on foreign exchange.
     
  2. Symbol C : AXM
    Shares Issued 130,497,381
    Close 2018-05-07 C$ 0.13
    Recent Sedar Documents

    View Original Document

    Axmin earns $1.2-million (U.S.) in 2017

    2018-05-07 11:33 MT - News Release


    Ms. Lucy Yan reports

    CHAIRMAN PROVIDES AXMIN'S YEAR END 2017 FINANCIAL AND OPERATIONAL RESULTS

    Axmin Inc. has released highlights from its audited annual financial statements for the year ended Dec. 31, 2017, which have been filed on SEDAR (amounts are in U.S. dollars).

    2017 highlights

    Financial:
    • Revenue of $1.6-million (2016: $1-million);
    • Net income of $1.2-million (2016: loss of $250,000);
    • Cash balance of $1.1-million (2016: $400,000).
    Operational:
    • Revenue from the company's net smelter return (NSR) royalty with Teranga Gold Corp. for the Gora deposit has grown from $1-million in 2016 to $1.6-million in 2017. For the avoidance of doubt, at the moment, only the Gora deposit contributed the NSR royalty revenue of $1.6-million for the year 2017 to Axmin.
    • Axmin staff are in discussions with Teranga regarding progress on developing other properties in which Axmin has an interest.
    • Axmin holds an additional 16 target areas in conjunction with Teranga subject to future development with no further capital participation contribution required from Axmin.
    Central African Republic (CAR):

    • Axmin is delighted to confirm that, on March 26, 2018, the Minister of Mining and Geology in the CAR issued an executive order No. 073/18/MMG/DIRCAB/DGM to grant Somio Toungou an extension of the period of exemption from development and exploration under the mining licence for one year, running from March 22, 2018, to March 21, 2019, relating to the Passendro gold project.
    • By the executive order, Aurafrique also was granted a one-year extension, running from March 22, 2018, to March 21, 2019, of an exemption from exploration and research work on the Bambari 1 and 2 exploration permits.
    • The situation in the CAR remains difficult, but Axmin's in-country representative, Boubacar Sidibe, has recently visited Bambari and has met with the district commissioner, Prefect of Ouaka, the Vice-Mayor of Bambari, head of MINUSCA at Bakala and representatives of the illegal miners who were at one time active on the Passendro gold project site. Axmin is maintaining excellent relations at the regional level as well as at the central government level.
    • Axmin regrets the instability that has plagued the CAR but is confident that stability will return under the stewardship of the current government and looks forward to working with all stakeholders to develop a safe, rapid and profitable mining operation on the company's mineral properties in the CAR.

    Commenting on the 2017 annual results, Lucy Yan, Axmin's chairman, said: "During the past year of my tenure as chairman, we are starting to see some positive developments in the CAR. We believe that the duly elected government working with MINUSCA will in time bring stability to the country and specifically to the region around Ndassima, where our main asset is located. We have been in close communication with the senior ministers and officials of the governments both in Bangui and locally in Bambari and look forward to the time when we can reclaim the site to become operational again."

    The counsellor to the CAR president for disarmament, demobilization, reinsertion and repatriation (DDRR), Colonel Noel Bienvenu Selesson, wrote to Axmin: "We thank you not only for the efforts made by your company but also for the reaffirmation of its commitment and its determination to go to the operation. The DDRR process is evolving. After the successful completion of the DDRR/RSS pilot project that ended on Dec. 19, 2017, we are very actively preparing for the launch of the large DDRR. The provisions in this framework, will allow your company to resume fairly quickly all its activities in the area as well as in the rest of the country."

    The CAR Minister of Mining and Geology, Leopold Mboli Fatrane, also wrote to Axmin: "... the Ndassima mine is one of the main projects on which the government is setting out to revive the national economy. To this end, the government and the Integrated Multidimensional Stabilization Mission of the United Nations in Central African Republic (MINUSCA) have already undertaken the restoration of the authority of the State in the Ouaka and its surroundings."

    David Weill, lead independent director of Axmin, commented: "Management has done a superb job during this time of adversity to firstly secure the financial situation of the company by strictly controlling costs and secondly develop the royalty revenue streams for the benefit of all shareholders. Management has also maintained an excellent relationship and ongoing dialogue with the government of the CAR so that, when the company regains access to and control over the mining site, the company may rapidly implement a pragmatic mining plan focusing on developing the extremely high-grade deposits that will provide operational security for our employees and contractors, require limited capital expenditures from the company, and hopefully achieve very profitable returns in a very timely fashion for our shareholders."

    This press release should be read in conjunction with the company's audited annual financial statements for the year ended Dec. 31, 2017, together with its management discussion and analysis for the year ended Dec. 31, 2017, both of which are available from the company's website and on SEDAR.

    About Axmin Inc.

    Axmin is a Canadian exploration and development company with a strong focus on Central and West Africa. Axmin is positioned to grow in value as it progresses its Passendro gold project toward development and builds on its project pipeline focusing on transitioning from an explorer to producer.

    We seek Safe Harbor.

    © 2018 Canjex Publishing Ltd. All rights reserved.


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  3. https://content.usaa.com/mcontent/static_assets/MMF/MONHLD_FND0050.pdf

    Looks as if this fund has started accumulating Axmin Inc. shares. The cutoff was March 31st 2018 for Q1, but their Q2 should be out sometime this summer. Doesn't make sense for a fund with $550 million USD to only pick up 240,000 shares of a small cap. Their other holdings are between $100K to $20 million each, so I suspect more will be purchased. Keep in mind that AXM insiders currently own 85 of the 130.5 million common shares.
     
  4. Based on the recent news from Axmin Inc, the government, UN, and other global support will help the company get this project back hopefully sometime this year. Right now AXM stock value is based solely on the royalty payment earnings multiple and has not given any value towards the CAR asset, or future Senegal royalty targets. Thus making AXM severly undervalued.

    Project Link: http://www.axmininc.com/Corporatenbsp.php

    AXMIN Inc. (AXM-TSX Venture) is a gold exploration company with a track record of finding and developing mines in Africa. AXMIN's strategy is to focus on newly democratic countries where it has the opportunity to acquire highly prospective ground as an early entrant.

    In June 2010, AXMIN announced the completion of the acquisition of AfNat Resources Limited, at the same time the Company announced a restructuring of management and the Board, George Roach was appointed President and CEO. Shortly thereafter, in August 2010, AXMIN was awarded a 25 year Mining Licence (ML) for its Passendro Gold Project and two 3-year renewable exclusive Exploration Permits that ring-fence the ML and cover 90 sq km of strike along the prolific Bambari greenstone belt.

    The Passendro Gold Project is located in the centre of its 90 km long Bambari permits, located in north-central Central African Republic (CAR). Passendro has as of June 2009, a NI 43-101 Indicated mineral resource of 2.03 million ounces Au (31.5 Mt grading 2.0 g/t Au) and Inferred mineral resource of 1.10 million ounces Au (21.7 Mt grading 1.6 g/t Au). In January 2011, AXMIN announced the results of its revalidated Feasibility Study, which indicated a robust project with a NPV at 5% discount of US$340 million, an IRR of 32% and a low cash cost of US$484/oz over a mine life of 8.3 years. In addition, the first three years provide an average annual production of 205,000 ounces with a cash cost of US$437/oz resulting in a rapid project payback of 2.2 years. With the feasibility study in hand, AXMIN has all the documentation it needs t secure the debt financing to develop Passendro project.

    Highlight of the 2011 FS is detailed below:

    Assumed Gold Price

    US$1,100/oz

    Assumed Oil Price

    US$80/bbl

    Mine Throughput

    2.8 mtpa

    Mine Life

    8.3 years

    Development & Construction

    24 months

    Strip Ratio

    5.4:1

    Average Annual Production years 1-3

    205,000 oz

    Average Annual Production (LOM)

    163,000 oz

    Initial Capital Costs (excluding contingency)

    US$246 million

    Total Cash Costs (including royalties) (LOM)

    US$484/oz

    Average Metallurgical Recovery

    94%

    Gravity Recovery

    30%

    IRR (after tax & royalties)

    32.1%

    NPV (after tax, 5% discount)

    US$340 million

    Operating Cash Flows

    US$493 million

    Payback Period

    2.2 years

    On December 24, 2012, the Company officially notified the CAR Minister of Mines and Defence, as per its 2006 Mining Convention, of the existence of Force Majeure due to the escalating rebel activity in the country, providing the Company full protection under the circumstances and in the event there is a change of administration in CAR. Under these circumstances all in country operations other than administrative, as well as all negotiations with the Company’s debt lenders have been suspended pending the lifting of the Force Majeure. The Force Majeure is an unexpected event that crucially affects our ability to carry out our activities under the terms of various agreements and represents a lawful reason for failure to have done so.

    Subsequently, on April 2, 2013, AXMIN referenced the COMMUNIQUE GOUVERNEMENTAL NUMERO 01 of the CAR Transitional Governmentthat confirmed that all lawfully and legitimately concluded contracts with the State will be honoured, further confirming the validity of AXMIN’s legally binding contractual agreements with the State.

    During 2012, the Company’s main focus was securing the financing required to build the mine. By the first quarter of 2012, AXMIN had successfully, with the assistance of its financial advisor Endeavour Financial (“Endeavour”), executed Mandate Letters for a total of $235 million in debt facility that is a mix of senior and subordinate convertible debt with a number of development agencies and commercial banks from Europe and South Africa. The debt providers’ Mandate Letters are commitments to arrange financing on a best efforts basis and are subject to legal, technical and environmental due diligence, execution of acceptable terms and documentation and obtaining final credit and board approvals. As indicated above, all lenders’ due diligence activities and negotiations with debt providers have been suspended until the lifting of the Force Majeure. On April 15, 2013, one of the four financial institutions terminated its debt Mandate Letter pursuant to a decision of certain European States to withdraw recognition of the Central African Republic as a result of the current political situation. This financial institution has indicated that it is willing to reconsider the project if the relevant circumstances change.

    In May 2013, AXMIN's shareholders voted overwhelmingly in support of the Dickson Resources Change of Control, at which time the two-stage Offering closed and AXMIN issued a total of 45,000,000 Units for gross proceeds of approximately C$6.8 million. Under the terms of the Offering AXMIN announced the appointment of three Dickson Resources represetatives to the AXMIN Board.
     
  5. Between Russia, MINUSCA(UN), CAR Government, and other powers in the Central African Republic, rebels will be dealt with sooner than later.

    http://en.kremlin.ru/events/president/news/57534

    President of Russia Vladimir Putin: Mr President,

    It is a pleasure to welcome you to St Petersburg.

    I would like to thank you for coming to the St Petersburg International Economic Forum.

    At the outset, I would like to recall that our country was one of the first to recognise the independence of the Central African Republic.

    In the 1960s and 70s, specialists from our country worked in many spheres in your country, dozens of highly qualified specialists in many fields. Over 500 people were trained in Russia and managed to apply the knowledge and skills they received to develop their homeland.

    Later, for many reasons our cooperation was, if not completely curtailed, stuck at a rather low level. We will be happy to consider various plans to boost our relations, first of all in the economic and humanitarian fields, including personnel training.

    I am happy to see you, Mr President, and hope that today we will manage to find areas where we can work together to advance our relations.

    President of the Central African Republic Faustin Archange Touadera (retranslated): Thank you very much, Mr President.

    I am most grateful to you personally and the Government of the Russian Federation for the invitation. It is a great honour for me to take part in the St Petersburg Economic Forum.

    You mentioned the very important historical cooperation between our country and the Russian Federation in the 1960s and 1970s. In these periods, our contacts were much closer.

    You spoke about personnel training. Some students received education in the Soviet Union, while others studied in our country. For example, I studied at home but my teachers were Russian, which illustrates the very high level our relations were at.

    I am very happy to be here at your invitation. I think this is a wonderful opportunity to enhance our cooperation in many areas. I believe we can map out ways, areas and means for more active cooperation. You mentioned the economy and humanitarian contacts and I agree with you.

    Today our country is among the least developed but we have huge potential. I think participation in the economic forum will allow us to tell its participants about this potential and the business and economic opportunities opening up in our country.

    I went to Sochi on October 7 and saw that there is an opportunity for large-scale partnership based on trust between our countries.

    I would like to once again thank you, Mr President, the entire Government and the people of the Russian Federation for your support in the process of consolidation and reconciliation in our country.

    Incidentally, recently a Russian convoy covered a very difficult route from the East to the West in the framework of such partnership. Its goal was to set up mobile hospitals that will render simply invaluable support to our population that is currently in a very difficult humanitarian situation.

    We have big expectations for potential economic and humanitarian exchanges. We will discuss ways of promoting our cooperation.
     
  6. AXM.V Q1 2018 Results (Financials + MD&A) Ending March 31st 2018
    All information is available through Sedar. Numbers below are in US Dollars

    Tickers: AXM(CDN) & AXMIF(US)
    Price: $0.11
    Common Shares: 130,497,381
    Options: 8,240,000
    Insider/Institutional Holdings: 82,089,114 – 63%

    ASSETS (USD)
    Cash: $1,628,835 (December 2017 - $1,115,331)
    Receivables: $497,302 (December 2017 - $610,477)
    Prepaid Expenses: $9,094 (December 2017 - $12,934)
    Total Assets: $2,135,231 (December 2017 - $1,738,742)

    LIABILITIES (USD)
    Accounts Payable: $2,432,023 (December 2017 - $2,440,820)
    Amounts Due To Parties: $174,345 (December 2017 - $190,355)
    Discontinued Operations: $323,103 (December 2017 - $323,103)
    Total Liabilities: $2,929,471 (December 2017 - $2,954,278)

    Q1 2018 Revenue (USD)
    Royalty Income: $490,551
    G&A Expenses: $117,185
    Net Income: $386,115

    2017 Revenue($USD)
    Royalty Income: $1,585,578
    G&A Expenses: $388,268
    Net Income: $1,141,752

    The company has added $1,527,867 USD or $1,986,227 CAD (based on 1.30 exchange) over the last 5 quarters. This is $0.0152 cents earnings per share. Small cap multiples for earnings based companies should be around 10 times earnings minimum.

    MD&A Highlights

    During the three months ended March 31, 2018, the Company reported royalty income of $490,551 from Gora Projects,· compared with $310,684 for the same time period of 2017. The net income for the three months ended March 31, 2018 was $373,527 compared to a $226,989 net income in the· same period of 2017.

    Operations

    Central African Republic – Passendro Gold Project The Company’s primary asset is the Passendro gold project, which is situated in the centre of a 25-year Mining License (355 sq km) that was awarded to AXMIN in August 2010. At the same time, the Company was also awarded two, three-year renewable Exploration Licenses, Bambari 1 and 2 (1,240 sq km), which ring fence the Mining License and cover a 90 km strike along the highly prospective Bambari greenstone belt.


    On March 26, 2018, the Minister of Mining and Geology issued an executive order No 032/18/MMG/DIRCAB/DGM to grant Aurafrique SARL an extension period of exemption from exploration and research for one (1) year, running from March 22, 2018 to March 21, 2019.


    As of the date of this report, operations at Passendro remain suspended and although the Company continues to maintain a presence in the CAR (through its administrative office and permanently stationed employees in Bangui) and relationship with the State in the CAR, the Company is unable to predict when it will be able to resume its operations at Passendro for the foreseeable future, if at all. As a result, impairment in the amount of $37,346,576 was recognized at December 31, 2013 on exploration and evaluation (“E&E”) assets for the Bambari properties to reflect the decrease in their recoverable value as of result of the current unstable situation in CAR. As at March 31, 2018, given that impairment was recognized and the unstable condition remains the same, the residual value of E&E assets for the Passendro gold project was written down to $nil in 2016. This impairment recognized in the financial statements does not in any way mean that the Company is relinquishing its rights to the assets and it reflects the utmost conservative view by management on the objective circumstances and will be reviewed annually and subject to recovery when certain conditions are met pursuant to the accounting standards the Company has adopted.


    The Company through its in-country staff have maintained close communications with senior ministers and officials in Bangui and also in Bambari which is the closest city to the Company’s asset near Ndassima. AXMIN’s country representative Mr. Boubacar Sidbe recently meet with the Vice Mayor of Bambari and Sub-prefect to discuss the situation on the ground and express the Company’s desire to get back on site. Meetings have also been held with the Mining Minister and Chief of the Office of the Head of State. AXMIN remains confident that stability will eventually return to the country and that the Company will be well positioned and ready to work with the elected government of the CAR to develop a pragmatic mining plan focusing on the extremely high-grade deposits that will be safe for our employees and contractors, have limited capital expenditure and hopefully achieve very profitable returns in a very timely fashion for shareholders.


    Senegal Joint Venture On February 28, 2012, AXMIN and its joint venture partner and manager, Sabodala Mining Company SARL (“SMC”), a whollyowned subsidiary of Teranga Gold Corporation (“Teranga”) amended its 2008 joint venture agreement. At the time, Teranga had earned an 80% interest in the Sounkounkou, Heremokono and Sabodala NW explorations licenses (the “Project”) located in the Birimian belt of eastern Senegal, by spending US$6 million on exploration. AXMIN has retained a 20% interest in the Project. The amended joint venture and royalty agreement (the “Agreement”) supersedes and replaces the original joint venture agreement. The 2012 Agreement with SMC includes, among other things, the following terms: (a) both parties agree that their respective interests (Teranga–80% and AXMIN–20%) in the Project are divided into Target Areas (being areas subject to exploration) and Remainder Areas (areas not yet subject to exploration); and (b) that both parties will retain all respective interests in all of these areas, until an election is made by AXMIN to convert its 20% interest in a Target Area into a 1.5% NSR or Royalty Interest (“Royalty Election”). After AXMIN has made a Royalty Election with respect to the Target Area, SMC will solely fund all finance work costs for each of the Royalty Interests.
     
  7. Two videos that came out this week from reliable news sources(BBC & France 24). CAR is getting a huge boost from Russia and in return the Russians will be working on getting mining/exploration going on in the Central African Republic. This is big news because once they make it safe enough for Russia to work in the country, then Axmin Inc. will also have this ability in the near future, thus adding tremendous value back to the stock( 3 million ounce gold deposit on a $15 million market cap company)

    BBC - http://www.bbc.com/news/av/world-af...ntral-african-republic-a-curious-relationship

    France 24(Via Youtube) -
     
  8. https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00003164
    This was important to put out for a few reasons:
    1) Shows that insiders still own over 80 of the 130.5 million common shares

    2) Directors are paying themselves less than $20,000 USD per year and given that the company just made $1.2 million USD in profit, why aren't they paying themselves more?

    3) Options are being renewed and expanded.

    What does this all mean? In my opinion, I see it as a clear example that they want to make their money through capital gains, aka selling common shares. They gave themselves options last September at $0.05 for the first time. Fast forward 8 months and we now have a clearer picture from their latest news release on how the country is progressing rapidly towards stabilization with the help from the AU, UN, Russia, CAR military.

    Most recent news: http://axmininc.com/PRmay07_2018.php
     
  9. A Vancouver based marketing firm has recently started promoting Axmin Inc,(AXM & AXMIF). This company has an office in the same building as Axmin Inc and in Shanghai. No doubt they struck a deal recently because this only came up on Google today. All Axmin Inc. information is up to date too. They are marketing strictly to Chinese investors.

    https://nai500.com/
    AXM - https://nai500.com/client/0C00000JF1/
    About NAI - https://nai500.com/about-us/#faq-social-media
    [​IMG]
    NAI Interactive Ltd. (NAI), established in 1998, is a leading market intelligence and investor relations service provider for fast growing public companies trading on the North American stock exchanges. Our goal is to serve as a bridge between public companies and Chinese investors, nurturing investor loyalty and form functional networks via our unique platform. Throughout the years, NAI has established itself as the most trusted firm in providing market insights to Chinese investors. We strive to provide a more powerful platform for companies and investors to connect with each other.

    The 3 Strengths of NAI500
    • Extensive Experience in the Business
      With 15 years in the IR business, NAI excels in the field of investor relations and market intelligence. Our professional team is specialized in targeting companies and connecting promising opportunities with investors.
    • Comprehensive Coverage of the Market
      NAI hunts for investment opportunities from the perspective of an investor. Our extensive experience in the industry has helped build a vast network and ensures our access to the best market information in quantity and quality.
    • Precise Positioning
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  10. https://www.shephardmedia.com/news/landwarfareintl/car-asks-un-approve-china-arms-deliveries/

    CAR asks UN to approve China arms deliveries
    12th June 2018 - 08:08 GMT | by Agence France-Presse in United Nations


    RSS


    The Central African Republic (CAR) has asked the UN Security Council to approve deliveries of Chinese-made armoured vehicles, machine guns, tear gas grenades and other weaponry for its struggling army and police, according to the request obtained by AFP on 11 June.

    CAR Defence Minister Marie Noelle Koyara requested an exemption to an arms embargo, arguing that national forces are ‘confronted with the strength and escalating violence of armed groups whose illegal activities pose a threat to civil order.’

    The council imposed an arms embargo on the CAR in 2013 when the country descended into bloodshed but its sanctions committee in 2017 gave the green light for Russia to supply weapons to the national forces.

    Council members have until 3:00 pm EST (7:00 pm GMT) of 15 June 2018 to raise objections to the request for the Chinese shipments, according to a letter from the sanction committee's vice-chair.

    China is donating the military equipment which includes 12 armoured vehicles and four assault vehicles, 50 pistols, six sniper rifles, ten submachine guns with silencers and some 30 machine guns of various calibres.

    The list of equipment from China's Poly Technologies also includes 300 rockets, 500 anti-tank grenades, some 725,000 rounds of ammunition of various types and 15,000 tear gas grenades.

    In her request, the defence minister argued that tear gas would help gendarmerie and police deal with crowd control as the ‘units do not currently possess any of this equipment designed to maintain order.’

    The request for the Chinese weaponry is backed by a European Union military training mission and by the UN peacekeeping operation MINUSCA, which has come under repeated attacks from armed groups. Five peacekeepers have been killed in 2018.

    The CAR exploded into violence following the 2013 overthrow of longtime leader Francois Bozize, prompting France to intervene with its Operation Sangaris.

    MINUSCA took over an African Union-led mission in 2014, deploying some 12,000 troops and police, but the country remains overrun with militias, many of whom claim to protect Christian or Muslim communities.

    CAR's leaders have repeatedly asked the Security Council to ease the arms embargo to allow shipments of equipment that will beef up the national forces.

    France and the UN mine-action service have helped CAR's defence ministry set up armouries and ammunition depots for the deliveries, which the request stated should take place in June 2018.

    Koyara wrote: ‘Building up the defence and security forces, alongside MINUSCA, and progressive deployment of those forces safeguards the security of people and ensures the progressive enforcement of state authority.’

    Most of the armoured vehicles and other weaponry will be used by special forces trained by Rwanda and certified by the EU training mission. Units of CAR's gendarmerie and police were trained by the UN police.
     
  11. Axmin, Teranga receive exploration permits in Senegal

    2018-06-18 16:06 MT - News Release


    Ms. Lucy Yan reports

    NEW EXPLORATION PERMITS IN SENEGAL WITH TERANGA GOLD CORPORATION (TERANGA)

    Axmin Inc. has received confirmation from Teranga that the government of the Republic of Senegal has granted two new exploration permits under the 2016 Senegalese Mining Code for Sounkounkou and Bransan, encompassing the 17 target areas that the company shares an interest in with Teranga.

    The initial term of the exploration permits is for a period of four years with a requisite minimum expenditure commitment during this initial period. Thereafter, the exploration permits are renewable two times for consecutive periods not exceeding three years each, provided that Teranga has satisfied its work and expenditure commitments. The Bransan perimeter is 337.3 square kilometres and Sounkounkou is 291.7 square km, which together cover roughly 90 per cent of the prior permit areas.

    Axmin chairman Lucy Yan said, "The issuance of exploration permits for the additional targets, upon which Axmin has a [net smelter return] royalty of 1.5 per cent, is very good news for our company."

    About Axmin Inc.

    Axmin is a Canadian exploration and development company with a strong focus on the African continent. Axmin continues to closely monitor the political situation at its feasibility-stage Passendro gold project in the Central African Republic.

    We seek Safe Harbor.

    © 2018 Canjex Publishing Ltd. All rights reserved.
     
  12. http://www.imf.org/en/News/Articles...pletes-fourth-review-central-african-republic

    IMF Executive Board Completes Fourth Review Under the ECF Arrangement for the Central African Republic and Approves US$ 32.1 Million Disbursement
    July 3, 2018

    Completion of the review enables a disbursement of US$ 32.1 million.
    Program implementation has been satisfactory in a difficult context. Restoring peace and speeding the implementation of the development agenda are key to sustain the economic recovery and reduce poverty.
    Improving domestic resource mobilization is crucial for the scaling up of expenditure in key sectors such as health, education, and security.
    On July 2, 2018, the Executive Board of the International Monetary Fund (IMF) completed the fourth review under the Extended Credit Facility (ECF) arrangement [1] for the Central African Republic. The completion of the review enables a disbursement of SDR 22.84 million (about US$ 32.1 million), which will bring total disbursements under the arrangement to SDR 88 million (about US$ 123.7 million).

    The ECF arrangement for the CAR was approved by the Executive Board on July 20, 2016 (see Press Release No. 16/352 ) for SDR 83.55 million and subsequently augmented twice to a total of SDR 133.68 million (about US$ 189.0 million, 120 percent of Central African Republic’s quota at the IMF).

    At the conclusion of the Board’s discussion, Mr. Tao Zhang, Deputy Managing Director and Acting Chair, stated:

    Performance under the ECF-supported program has been satisfactory despite a challenging security environment and difficult humanitarian conditions. The authorities stepped up the implementation of their reform agenda and public investment plan.

    “Fiscal policy is broadly on track. The revised 2018 budget includes new revenue measures and remains anchored to the domestic primary balance objective while allowing a scale-up of social and capital spending. Renewed efforts to mobilize domestic revenues, which remain weak, will be critical to support the scaling-up. Given the country’s high risk of debt distress, continued reliance on grant financing is essential to support debt sustainability. The implementation of the investment program for the National Recovery and Peacebuilding Plan will boost economic prospects.

    “The authorities continued to implement fiscal structural reforms, which contributed to the strengthening of the treasury single account, improved budget transparency and traceability of domestic revenues. Quarterly publication of budget execution reports allows for better tracking and monitoring of government expenditures. More consideration should be given to streamlining quasi-fiscal taxes, reducing exceptional payment procedures, and strengthening the asset declaration regime. It will also be important to follow through on commitments to strengthen transparency in the management of natural resources.

    “The government started the comprehensive clearance of domestic arrears. The transparent repayment of arrears will support growth, bolster the credibility of the state, and strengthen the banking sector.

    “The Central African Republic’s program is supported by the implementation of policies and reforms by the regional institutions in the areas of foreign exchange regulations and monetary policy framework and to support an increase in regional net foreign assets, which are critical to the program’s success.”



    [1] The ECF is a lending arrangement that provides sustained program engagement over the medium to long term in case of protracted balance of payments problems. Details on Central African Republic’ arrangement are available at www.imf.org/external/country/CAF .

    IMF Communications Department
    MEDIA RELATIONS
    PRESS OFFICER: ISMAILA DIENG

    PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG
     
  13. Six recent articles on the Central African Republic:

    July 5th 2018 – Gabon Keeps 444 troops in CAR

    https://m.news24.com/Africa/News/gabon-to-keep-troops-in-un-mission-in-car-20180705

    July 6th 2018 – Russian Mercenaries Secure Gold Mines In CAR

    https://www.unian.info/world/101773...group-reportedly-fighting-in-syria-media.html

    Key Part:

    Defense Ministry officers, comparing the new PMC to the Wagner Group, noted that Patriot pays more and offers better combat assignments. A source in the veterans' community said Wagner and Patriot competed for the contrast to provide security at gold mines in the Central African Republic, Dozhd reported.

    July 5th 2018 – UN Proved Central African Republic With $1 Billion In Aid

    https://www.un.org/press/en/2018/ga12039.doc.htm

    June 29th 2018 – UN Deploys 700 Peace Keepers From Nepal To CAR

    https://thehimalayantimes.com/nepal/united-nations-to-deploy-up-to-700-more-peacekeepers-from-nepal/

    June 29th 2018 – AU(African Union) To Focus On Central African Republic

    http://plenglish.com/index.php?o=rn&id=30340&SEO=au-summit-focused-on-challenges-progresses

    June 26th 2018 – New Central African Republic Court Now In Order

    https://www.news24.com/Africa/News/no-obstacles-in-launching-car-special-criminal-court-20180626

    June 25th 2018 – Central African Republic Diamond Business Now Active Again

    http://www.idexonline.com/FullArticle?Id=44032
     
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