AXMIF - Axmin Inc. (Gold Royalty)

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

  1. TGZ Announced an acquisiton of Barrick Gold's Massawa gold deposit in Senegal. But with that, they also mentioned several of the best open pit gold deposits in Africa. Below you can see exactly what Teranga Gold posted, along with a comparison chart of everything

    (2) The highest grade undeveloped open-pit gold reserve in Africa statement is based on publicly filed data available on S&P Capital IQ as at Nov. 15, 2019, and includes the following projects: Sanbrado project (Burkina Faso), Tulu Kapi project (Ethiopia), Passendro project (Central African Republic), Yaoure (Ivory Coast), Wa-Lawra project (Ghana), Baomahun (Sierra Leone), (Block 14) Sudan, (Bombore) Burkina Faso. Other companies may calculate their respective reserves base differently.

    Sanbrado project (Burkina Faso) - https://www.westafricanresources.com/projects/sanbrado-project/
    Resource: 2.4 million ounces indicated at 1.9g/t Au + 684k ounces inferred
    Owner: West African Resources Ltd (ASX:WAF) – Market Cap $350 Million AUD

    Tulu Kapi project (Ethiopia) - https://www.kefi-minerals.com/projects/ethiopia/tulu-kapi/resources-reserves
    Resource: 1.72 million ounces indicated at 2.12g/t Au + very little inferred resource
    Owner: Kefi Minerals (AIM: KEFI) – Market Cap £13.60 Million Pounds

    Passendro project (Central African Republic) -http://www.axmininc.com/images/axmin_presentation_8jun2018.pdf
    Resource: 2.03 million ounces indicated at 2.0g/t Au + 1.1 million ounces inferred
    Owner: Axmin Inc. (TSXV: AXM / OTCBB: AXMIF / FRA: A4JN) – Market Cap $47 Million CAD

    Yaoure (Ivory Coast) - https://perseusmining.com/wp-content/uploads/2019/10/Fact-Sheet-Yaoure-Rev4.pdf
    Resource: 1.9 million ounces indicated at 1.4g/t Au + 1.5 million ounces inferred
    Owner: Perseus Mining Ltd. (TSX:pRU) – Market Cap $1.05 Billion CAD

    Wa-Lawra project (Ghana) - https://www.azumahresources.com.au/projects-reservesnresources.php
    Resource: 1.78 million ounces indicated at 1.8g/t Au + 982k ounces inferred
    Owner: Azumah Resources Ltd. (ASX: AZM) – Market Cap $33 Million AUD

    Baomahun (Sierra Leone) – Purchased by Perseus Mining in 2016 : https://www.juniorminingnetwork.com...seus-mining-limited-and-amara-mining-plc.html

    Block 14 project (Sudan) - http://orcagold.com/assets/docs/presentations/Orca-Gold_FS-PRESENTATION.pdf
    Resource: 2 million ounces indicated at 1.2g/t Au + 375k ounces inferred
    Owner: Orca Gold (TSXV: ORG) – Market Cap $66 Million CAD

    Bombore (Burkina Faso) - https://www.orezone.com/en/bombore-project/resources-reserves/
    Resource: 4.17 million ounces indicated at 0.69g/t Au + 1.1 million ounces inferred
    Owner: Orezone Gold Corporation (TSXV:ORE) – market Cap $143 Million CAD
     
  2. IMF Executive Board Approves US$115.1 Million Three-Year Extended Credit Facility (ECF) Arrangement for the Central African Republic

    https://www.einnews.com/pr_news/505...-arrangement-for-the-central-african-republic

    December 20, 2019

    Board’s decision enables an immediate disbursement of SDR 11.936 million, about US$16.4 million
    Structural reforms will aim at improving the government’s capacity to design and implement policies and reforms, and enhancing governance, including through strengthening anticorruption institutions.
    Fiscal policy will focus on enhanced revenue mobilization, spending prioritization, and strengthened public financial management
    On December 20, 2019, the Executive Board of the International Monetary Fund (IMF) approved a three-year arrangement under the IMF’s Extended Credit Facility (ECF) for the Central African Republic (CAR) equivalent to SDR83.55 million (about US$115.1 million, or 75 percent of the Central African Republic’s quota in the Fund). The IMF-supported program aims to maintain macroeconomic stability, strengthen administrative capacity, governance and the business climate, and address the country’s protracted balance of payment needs.

    The IMF Executive Board’s decision enables an immediate disbursement of SDR 11.936 million, about US$16.4 million. Disbursement of the remaining amount will be phased in over the duration of the program, subject to semi-annual reviews of the IMF-supported program by its Executive Board.

    Following the Executive Board’s discussion on Central African Republic, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, made the following statement:

    “Despite significant progress under the ECF arrangement that expired last July, the Central African Republic (C.A.R.) remains very fragile, with a volatile security environment, limited administrative capacity, poor governance, and lack of social cohesion.

    “The new three-year program supported by the IMF Extended Credit Facility (ECF) will support the implementation of the February 2019 peace agreement and of C.A.R.’s medium-term development strategy. It aims at maintaining macroeconomic stability, strengthening administrative capacity, governance and the business climate, promoting robust and sustainable growth, and reducing poverty.

    “Fiscal policy will focus on enhanced revenue mobilization, spending prioritization, and strengthened public financial management. This will ensure that C.A.R.’s considerable security, social, and infrastructure spending needs are sustainably met. Revenue mobilization measures will include the daily reconciliation of revenue data, the digitalization of tax returns and payments, and enhanced coordination between revenue administrations. The further strengthening of public financial management will involve the elimination of the remaining public agencies with no economic justification, the finalization of the audit of domestic arrears, and the strengthening of SOEs’ oversight and management.

    “Structural reforms will aim at improving the government’s capacity to design and implement policies and reforms, enhancing governance, including through strengthening anticorruption institutions, and removing bottlenecks and regulatory impediments to private investment.

    “Continued financial and technical support from development partners will be critical to the program’s success. Given its high risk of debt distress and limited revenue base, C.A.R. will have to continue relying heavily on grant financing to finance its most pressing spending needs. The authorities will work closely with their technical partners to ensure that capacity development focuses on priorities closely aligned with the program objectives and is efficiently delivered.

    “The C.A.R.’s program is supported by the implementation of policies and reforms by the CEMAC 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 program’s success.”

    Annex

    Recent Economic Developments

    The Central African Republic authorities’ program of economic policies and reforms implemented under the three-year ECF arrangement that expired in July helped to restore economic growth, reduce fiscal and external imbalances, and strengthen public administration. Recent economic developments have been broadly satisfactory, with growth expected to recover to 4 ½ percent this year, mainly driven by the mining, forestry and construction sectors. As the inflationary pressures that resulted from the blockade of the main trade route between Bangui and Cameroon in March have abated, inflation is expected to be limited to 3¼ percent on average this year and less than 3 percent next year. The current account deficit is expected to narrow to 5.6 percent of GDP in 2019, thanks primarily to an increase in official transfers.

    The banking sector remains well capitalized, liquid, and profitable although credit to the private sector declined by 3 percent year-to-year in September 2019. Some progress has also been made in the implementation of structural reforms.

    Progress under the peace agreement signed in February 2019 remains fragile. Overall, CAR remains in a very fragile situation, with a volatile security environment, limited administrative capacity, poor governance, and lack of social cohesion.

    Program Summary

    The program will support the implementation of the peace agreement and of CAR’s medium-term development strategy. Fiscal policy will focus on revenue mobilization, spending prioritization, and strengthening public financial management, with a view to allow, over the medium term, the sustainable financing of CAR’s considerable security, social, and infrastructure spending needs. Structural reforms will aim at improving the government’s capacity to design and implementing policies and reforms, at enhancing governance, and at removing bottlenecks and regulatory impediments to private investment.

    The medium-term outlook remains broadly favorable, provided security holds. Given the peace agreement’s slow implementation, the macroeconomic framework assumes no conflict resurgence but factors in only limited peace dividends at this juncture. Growth is expected to amount to 5 percent over the medium term, driven by the recovery in the mining sector, the implementation of structural reforms, and the gradual loosening of the energy and transportation bottlenecks. Inflation is expected to remain under the CEMAC ceiling of 3 percent over the medium term. The current account deficit would stabilize at about 5½ percent of GDP, as the improvement in the balance of goods and services would broadly offset the decline in official transfers. The domestic primary balance would stabilize at around 2½ percent, allowing a gradual reduction of the debt/GDP ratio. Facing lower-than-expected revenues, the authorities are committed to containing the domestic primary balance.

    The new arrangement will help catalyzing external concessional financing from other development partners, which is critical to support CAR’s path out of fragility. The IMF will also continue its extensive capacity development on priorities that are aligned with the program objectives.

    However, risks to the outlook remain high. Political pressures and uncertainty could weaken policy and reform implementation in the run-up to the 2020–21 presidential and general elections. A renewal of violence could also exacerbate the humanitarian crisis and political instability.
     
  3. New Ministry Of Mines Building In CAR + Pro Tourism Video

    https://www.facebook.com/axmininc/

    New post from Axmin regarding a brand new building for the ministry of mines in CAR



    Major Youtuber with over 1.2 million followers who just visited Bangui.
     
  4. CAR Mining Conference Video - February 27th to 29th

    From the government website gouv.cf

    https://www.facebook.com/gouv.cf/videos/582394382309520/

    This is the first mining expo in almost a decade. The country would not be able to put this on if there was still extreme turmoil. The significance is that if the country is open for business, then Axmin will be back to work shortly. We should be seeing an update on the survey and joint venture talks, mentioned in the last news release.
     
  5. Former Central African Republic leader returns after six-year exile

    https://africa.cgtn.com/2020/01/10/...republic-leader-returns-after-six-year-exile/

    By CGTN Africa -5 hours ago047

    Former Central African Republic (CAR) rebel leader and president Michel Djotodia returned to Bangui on Friday, exactly six years after quitting as head of state, and pledged to support peace in the troubled country.

    Djotodia, 71, who resigned 10 months after seizing the presidency at the head of a Muslim rebellion in March 2013, landed onboard a Royal Air Maroc flight from Casablanca via Douala in Cameroon. He had been living in exile in Benin.

    He was welcomed at a hotel in the capital by about 30 of his supporters and given a security escort by police and army personnel, an AFP reporter saw.

    He was expected to meet later with President Faustin-Archange Touadera.

    “2020 will be a year of peace. I am no longer a man of war, I am a man of peace,” Djotodia told journalists.

    “I urge all the rebels to be patient,” Djotodia said separately in a brief interview with AFP.

    “There is a peace agreement which has been signed. It is time for all of us, fighters and all Central Africans, to stand up to pacify the country.”

    Djotodia’s rebel movement, known as the Seleka, plunged the CAR into violence in 2013.

    Sectarian fighting between the pro-Christian and Muslim militia sparked military intervention by France, the former colonial power, to stem the bloodshed.

    Djotodia quit as president under international pressure on January 10 2013.

    His successor, Touadera, was elected in 2016.

    He governs with the support of MINUSCA, a 14,700-person UN peacekeeping force. But most of the country lies in the hands of armed groups, who often fight over the country’s mineral resources.

    The long conflict has forced nearly a quarter of the country’s 4.7 million people to flee their homes.

    The United Nations estimates that two-thirds of the population depend on humanitarian aid to survive.

    The country is ranked next-to-last after Niger on the 2018 UNDP’s Human Development Index, which compares longevity, education, and income per capita. Life expectancy is just 52.9 years.

    There have been repeated peace agreements between the government and armed groups. The most recent, signed on February 6 last year, has lessened the intensity of the violence but not ended it.

    Bozize returned home on December 16 to be hailed by thousands of supporters.

    He arrived just in time to register as a candidate for the next presidential election due in 2020, but he has not disclosed his intentions.

    He is named in an international arrest warrant, filed by the CAR in 2013, for “crimes against humanity and incitement to genocide.”
     
  6. Central African Republic Mining Expo Information

    https://semicacentrafrique.com/

    That is the official website. If CAR is open for business then Axmin should have no issues getting the JV done and back to work. As per the early December news:

    Axmin has the requisite equipment in country to commence an initial site survey to further the previously defined site reclamation and rapid production plan. The implementation of this survey is in process and the company will provide timely updates on the social media platforms.

    The company has also identified several humanitarian projects that have high positive social impact but low capital expenditure that are being commenced at this time. It has always been the company's intention to work for the benefit of all stakeholders in the project and improving the lives of the residents in the village near the company's asset is clearly in line with these goals.

    The negotiations as to the choice of strategic partner have also been delayed slightly due to the security situation but talks are on going and meetings will be held in Beijing in early December in this regard.
     
  7. AXMIN Announces Letter of Intent with First Strategic Partner

    Vancouver, British Columbia--(Newsfile Corp. - January 20, 2020) - AXMIN Inc. (TSXV: AXM) ("AXMIN" or the "Company") AXMIN signs Letter of Intent.

    AXMIN is pleased to announce that it has signed a Letter of Intent for the development of its Passendro Gold Asset in the Central African Republic (CAR) with AU Metals Limited (AU Metals) a subsidiary of the AU Group Limited.

    AU Metals is a gold and copper mineral focused venture capital firm established in 2015 in Hong Kong, SAR and the BVI. AU Metals through its related company AU Ventures Limited operates venture capital funds. AU Metals have been involved with numerous mining companies. AU Metals' team also has operational experience in projects throughout Asia, Africa, North America, and Australia. AU Metals is well connected in the mining industry and has close relationships with corporate and state-owned enterprise mining operations and investors in the Asia region. AU Metals maintains offices in Hong Kong, Beijing, Sydney, Melbourne, Perth, and Brisbane.

    AXMIN has agreed with AU Metals to work together on the results of the ongoing site survey to define a scoping study based on the situation on site, the results and implications of illegal mining activity and the past exploration and geological analysis performed by the company. The Company will work with AU Metals to define what equity capital and debt facility will be required to implement the project in the CAR

    Dr. Wei Jin, executive president and managing partner of AU Metals stated, "We are excited with the prospect of collaborating with AXMIN on its Passendro Gold Asset. AU Metals has the expertise to help bring the asset to the next level and we feel that our networks in the mining industry can help this partnership realize success."

    AXMIN Chairman and CEO Lucy Yan said, 'We are delighted to be working with AU Metals to accelerate the development of the Passendro Gold Asset. The Company values the extensive track record and expertise of AU Metals and are confident that working with this strategic partner will ensure a successful realisation of the project for the benefit of all shareholders and stakeholders concerned.'

    We seek Safe Harbor.

    About AXMIN

    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 towards development and builds on its project pipeline focusing on transitioning from an explorer to producer. For more information regarding AXMIN visit our website at www.axmininc.com. Please follow us on Facebook https://www.facebook.com/axmininc.

    This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN; and statements regarding the ability to develop and achieve production at Passendro are forward-looking statements that involve various risks and uncertainties.

    There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.

    Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    Lucy Yan
    CEO and Chairman
    ceo@axmininc.com


    General Enquiries
    David de Jongh Weill
    Chief Financial Officer and Corporate Secretary
    david@axmininc.com

    +65 9781 8281

    Investor Relations
    ir@axmininc.com
    www.axmininc.com

    [​IMG]

    To view the source version of this press release, please visit https://www.newsfilecorp.com/release/51630
     
  8. Interesting development here. Last night I decided to try googling "Central African Republic" in Chinese "中非共和国" and what I got were some amazing results. Despite not finding much activity when searching CAR in English, there are many Chinese websites showing companies, deals, etc. going on over there and how much more active of a participant China is in CAR. Why is this important for Axmin Inc. Well AXM/AXMIF is majority owned by major Chinese investors, run by Chinese Directors mostly, just announced JV news with a Chinese company that has connections to a SOE(State Owned Enterprise). What it boils down to is that Axmin will successfully get back to Passendro because we likely have much stronger support from Beijing than the market really understands. Articles below are all less than a year old, some are from this week.

    China-Africa diamond export policy changes, World Diamond Council issues notice : https://www.thediamondloupe.com/zh-hans/compliance/2019-12-06/中非钻石

    Groundbreaking Ceremony for China-Africa Photovoltaic Power Plant : http://www.chinca.org/CICA/info/20012110330111

    Zhongjiang International Group signs "Mining Agreement" with the Ministry of Mines and Geology of the Central African Republic : http://www.zjgj.com/news/2725.html

    Yu Weiguo Tang Dengjie Meets with Minister of Agriculture and Rural Development of China and Africa Fei Zulei : http://fjnews.fjsen.com/2019-12/15/content_30095071.htm

    Chinese New Year in Central African Republic : http://www.gzbgj.ceec.net.cn/art/2020/1/28/art_7618_2060134.html

    China Railway 11th Bureau 5th Company China Africa Co., Ltd. - http://www.wpinjobs.com/company/company-show-19238-.htm
    (The company is a branch of the China Railway Eleventh Bureau and the fifth company in the Central African Republic. The current task is the China-Africa Bangui Airport Security Emergency Project with a contract value of 9 billion CFA.)

    (Video) Chinese New Year In CAR - https://rmh.pdnews.cn/Pc/ArtInfoApi/video?id=11064299

    Chinese New Year at Bangui Friendship Hospital : http://world.people.com.cn/n1/2020/0128/c1002-31563462.html

    Central African Republic Mining Association Creates New Situation in China-Africa Mining : http://www.cnwnews.com/biz/2019/0528/05284255.html

    Li Dejin, Vice Governor of Fujian Province, led a delegation to visit the Central African Republic : http://world.people.com.cn/n1/2019/0422/c1002-31041539.html

    Interview: "Belt and Road" is an important topic of China-Africa cooperation-a visit to the China-Africa Republic : http://www.emmfilms.com/a/keji/20190712/226.html

    China-Africa "old friend" walks into Luochuan oil terminal : http://www.elucy167.com/info/1008/3805.htm

    Central African Republic ( China ) Tianbao Mining Company - https://www.mining120.com/com/tianbaofafafa/introduce/

    http://www.bjresource.com/archives/539

    Welcome to Ruishangsi (Beijing) Technology Consulting Co., Ltd!

    Recent Major Projects : Central African Republic (China) Tianbao Mining

    Release time: 2019-1-29Shareto:
    Completion time: June 2018

    Project Content: Field Investigation and Exploration Suggestions for the Abba Gold Mine, Carnot and Gadzi Diamond Sand Mine in the Central African Republic
     
  9. https://www.570news.com/2020/01/31/un-slightly-eases-arms-embargo-on-central-african-republic/

    UN slightly eases arms embargo on Central African Republic

    CAMEROON, Cameroon — The U.N. Security Council voted Friday to slightly ease the arms embargo against the Central African Republic, with Russia and China abstaining because they wanted a greater easing of the weapons ban to help the government’s forces combat armed groups and protect the population.

    The vote on the French-drafted resolution — 13-0 with the two abstentions — followed contentious negotiations in the 15-member council over the extent the arms embargo should be eased. At one point Russia presented a rival draft resolution, diplomats said.

    Acting U.S. Deputy Ambassador Cherith Norman Chalet expressed deep concern after the vote that Russia’s ambassador to Central African Republic had publicly stated that council members that disagreed with Moscow’s position opposed peace in the country and were against the interests of its people.

    “In fact nothing could be further from the truth,” she said.


    While council members differ over the elements of an effective sanctions regime, Chalet said, “all of us are engaged on this matter because we want to see peace and security in the Central African Republic and elevate the interests of the Central African people.”

    Central African Republic has faced deadly interreligious and intercommunal fighting since 2013, when predominantly Muslim Seleka rebels seized power in the capital, Bangui. Mostly Christian anti-Balaka militias fought back, resulting in thousands of people killed and hundreds of thousands displaced. The impoverished country saw a period of relative peace in late 2015 and 2016 but violence intensified and spread afterward. In February 2019, the government signed a peace agreement with 14 armed groups.

    In response to the peace agreement and progress in reforming its security sector, the Security Council gave a green light last September for the country’s security forces to be supplied with weapons with a calibre of 14.5 mm or less, and ammunition for them, with at least 20 days advance notification and specific requirements including that they not be transferred or sold.

    The resolution adopted Friday goes further, allowing the government forces to be supplied with military vehicles and vehicles mounted with weapons with a calibre of 14.5 mm or less, with the same notification procedures.

    The previous arms embargo was extended for one year but Friday’s resolution only extends it for six months, until July 31, 2020.

    It requests Secretary-General Antonio Guterres, in close consultation with the U.N. peacekeeping mission in the country and the panel of experts monitoring sanctions, to report by June 30 on the government’s progress in implementing benchmarks that could guide a review of the arms embargo. These include security sector reform, the demobilization and reintegration of combatants, and the management of weapons and ammunition.

    France’s Deputy Ambassador Anne Gueguen told the council after the vote that “against a security backdrop which is still unstable” it’s important that the council assist Central African authorities toward meeting the benchmarks, which is “a key element for enduring peace and security” in the country.

    Niger’s U.N. Ambassador Abdou Abarry, speaking on behalf of the three African council members including South Africa and Tunisia, said the resolution “will pave the way for armed forces to reequip themselves so they can regain control over the entire country and push back the armed groups that continue to threaten peace and security.”

    The Central African Republic’s government has called for the lifting of the arms embargo.

    Russia’s Deputy Ambassador Dmitry Polyansky and China’s Deputy Ambassador Wu Haitao said the Security Council should have gone further in easing sanctions.

    “The arms embargo against the Central African Republic might have been beneficial at the early stages,” Polyansky said. “However, currently it is, de facto, an obstacle to the rearming of the national army and the security forces — the very institutions that bear the primary responsibility for ensuring security and peace of their own citizens. Meanwhile, the spoilers of the peace process have no obstacles when it comes to obtaining arms through trafficking.”

    He said Russia intends to review the sanctions in July when the arms embargo must be renewed again “with a view to their easing and ultimately their full lifting.”

    Wu said the council should lift sanctions “at an early date,” citing improving security in the country and progress on meeting the benchmarks.

    Edith M. Lederer, The Associated Press
     
  10. Accelerating economic recovery in the Central African Republic

    https://moderndiplomacy.eu/2020/01/...mic-recovery-in-the-central-african-republic/

    Published 3 days ago on January 31, 2020By Newsroom

    A conference on “Strengthening capacity building in periods of economic recovery through South-South and triangular cooperation”, has been organized by the government of the Central African Republic, together with the International Organization of La Francophonie (IOF), the United Nations Office for South-South Cooperation (UNOSSC) and the United Nations Industrial Development Organization (UNIDO).

    Chaired by the Minister of the Economy, Planning and Cooperation of the Central African Republic, Félix Moloua, the Conference included plenary sessions, sectoral meetings and technical training workshops focusing on youth entrepreneurship and quick-impact initiatives. The event, which mobilized 32 national and international representatives and experts, helped to strengthen the operational capacities of young people and women to implement economic regeneration projects. It also provided an opportunity to explore, along with international partners, trade- and industry-related cooperation models in the fields of agribusiness and of Information and Communication Technology (ICT).

    “Through its interventions to strengthen the skills necessary for productive employment, UNIDO helps to establish social cohesion and equity, allowing the development of stable societies and the implementation of the Sustainable Development Goals,” said Tidiane Boye, UNIDO Representative in Côte d’Ivoire.

    Manuel Mattiat, Programme Officer in UNIDO’s Region Division for Africa, added that “UNIDO works for Central Africans alongside its partners, such as the IOF, in order to accelerate economic recovery by involving young people in entrepreneurship and through the development of income-generating activities.”

    Training sessions provided during the event concluded with 91 young people being certified on entrepreneurship practices and 60 officials and non-governmental organization leaders on quick-impact initiatives. Sectoral meetings focusing on the cotton industry were also held between representatives of Egypt and the Central African Republic.

    At the end of the conference, nearly 200 participating Central Africans adopted recommendations to promote employability and entrepreneurship among young people. For example, it was agreed that young people will be trained in the car and motorcycle mobility industries. Young entrepreneurs will also be brought together in a consortium whose financing will be guaranteed by a trust fund supplied by local Central Africans. Also, Central African authorities will aim to ensure that 10 per cent of public procurement and contracts will be allocated to young people and 20 per cent to women.

    Representatives of UNIDO and the IOF met with several partners and stakeholders likely to contribute to the implementation of the government’s National Recovery and Peacebuilding Plan of the Central African Republic (RCPCA) with the aim of identifying avenues to further develop and implement the recommendations adopted at the event, including the ones related to the establishment of a consortium of incubators dedicated to the digital economy, agro-industry, financial technology (Fintech) and mobility.

    This event was preceded, on 14 December, by a public dialogue which brought together a hundred young people and women from Bangui to look at challenges related to the employability of youth, the country’s economic recovery and the revival of productive sectors.

    The participants and organizers expressed their desire to explore possibilities of organizing a second edition of the Bangui Economic Conference in the near future.
     
  11. GOVERNMENT AND MINUSCA REITERATE COMMITMENT TO IMPLEMENT PEACE AGREEMENT
    https://minusca.unmissions.org/le-g...QSQ6Z9Dz9TXyxHa_bUKkuKbuowAald2HtP4hoysGt-TQQ

    5 Feb

    2020

    GOVERNMENT AND MINUSCA REITERATE COMMITMENT TO IMPLEMENT PEACE AGREEMENT

    The Central African Government and MINUSCA reaffirmed on Wednesday their commitment to the implementation of the Political Agreement for Peace and Reconciliation in the Central African Republic (APPR-RCA) alongside other partners, while recalling the multiple challenges facing application of this peace tool faces. "I would like to reiterate the determination of the Government to firmly implement the commitments of the State contained in the APPR-RCA", said the Minister of Communication and Media and government spokesperson, Ange Maxime Kazagui, all recalling the need to consolidate the achievements of the Agreement.



    For his part, the MINUSCA spokesperson, Vladimir Monteiro, welcomed the “respect of the commitments of the Central African Government and hailed the policy of the outstretched hand of the President of the Republic, marked recently by meetings with various Central African actors” , while paying tribute to all the victims of the violations, especially those committed after February 6, 2019. "MINUSCA will continue to work with the guarantors - the African Union and ECCAS -, the Government and other partners to implement the Agreement and protect the civilian population, "he said.



    During the bimonthly joint press conference with MINUSCA, the government spokesperson noted a certain number of achievements due to the Peace Agreement, in particular the return of State authority in certain prefectures, including including the deployment of the FACA and internal security forces, the disarmament and demobilization operation in western CAR which affected 1321 combatants, including 81 women belonging to eight armed groups, as well as advances in laws on the decentralization and the status of former heads of state and parties.



    However, he specified that even if the incidents and acts of violence on the populations decreased, "there is still too much", by asking that each one "be consistent with his signature so that the country can go towards peace". The spokesperson also indicated that the meeting at the Presidency of the Republic, on the occasion of the 1 st anniversary of the signing of the Agreement, aims to "take stock of the situation, in the presence of the signatories, of the parties politicians, civil society, the international community and government ”.



    The MINUSCA spokesman also cited many advances, before urging all armed groups to honor their commitments and urged all Central Africans to support the Peace Agreement. “If the dividends that are the result of the trust born between the signatory parties have to be recognized, there is no time for self-satisfaction. MINUSCA denounces and condemns the violations recorded as well as the human rights abuses repeated by the armed groups, "he added.



    On the 2020-2021 elections, the spokesperson said that in accordance with his mandate as coordinator of electoral assistance, MINUSCA will work with the Central African Government in mobilizing the resources necessary to organize the next elections.
     
  12. OBO WELCOMES NATIONAL DEFENSE FORCES WITH JOY AND HOPE

    https://minusca.unmissions.org/obo-...MEnpd95E8a4-td6ufA86jlqKsw1QnI-exL64wBY9zozc0

    17 Feb 2020 OBO WELCOMES NATIONAL DEFENSE FORCES WITH JOY AND HOPE

    SIMPLICE JEAN PRIVAT DEZILA

    February 14, 2020. It is 9:50 pm in Obo. As the locals prepared to close their doors to take advantage of the night, a concert of vehicle horns, motorcycles and cries of joy, and of hope, broke the silence of the night.

    As a UN Force tank opened the peloton, citizens wondered, " Is this the usual MINUSCA patrol ? Pui appeared in a convoy of 4X4 trucks in national colors: it was the arrival by land of the Central African Armed Forces (FACA) in Obo. A detachment which will replace the one deployed a year ago by air, thanks to the support of MINUSCA. An event that confirms the return of state authority to their Haut Mbomou prefecture.

    Long subject to rumors of attacks by armed groups, this return by land will restore confidence in the population who no longer believed in it. MINUSCA then organized community awareness sessions to put an end to the false rumors that were circulating.

    Since the signing of the Political Peace Agreement a year ago, armed groups have multiplied abuses in Haut Mbomou, in violation of the latter, particularly in Bambouti on October 17, 2019. The permanent presence of the FACA in Obo constitutes a reason for hope of peace and protection for the population who are waiting to see the new elements in action.
     
  13. Some important things to note today:
    1) David Weill the CFO exercised nearly $80,000 worth of options in Axmin Inc. Based on his already outstanding position of 1.7 million shares, he now has more than double that in common shares. To date he has not sold a single share in 9 years of being a director : https://ceo.ca/api/sedi?insider=&symbol=AXM&date=&transaction=&amount=&undefined[company_symbol]=AXM
    2) It's been a year since the peace agreement and much of the Central African Republic is under State Authority again, with the exception of the far north. At this point in time, FACA/MINUSCA are finishing this area off and it is my belief that we will see all of the Central African Republic under state authority by the summer time: https://news.un.org/en/story/2020/02/1057731 Axmin's Passendro property is in the center of the country, within the secured zone.
    3) Next Thursday, the Bangui Mining Expo will begin. This is the first international promotion of CAR since 2011. This will change the tide of investment sentiment towards the country.
    - https://semicacentrafrique.com/ : official site (French)
    - article from the CAR government website: http://mines.gouv.cf/actualite/134/point-de-presse-au-ministere-des-mines-et-de-la-geologie
    Mon 2/17/2020 - 12:00


    Following his participation in Captown in South Africa in the INDABAH Mining forum, The Minister of Mines and Geology, Léopold MBOLI FATRAN held a press point in his cabinet.

    According to the Member of the Government, this great forum which brings together all the actors of the mining sector of Africa and the investors of the whole world enabled him to promote SEMICA Central African Republic, the Exhibition of Mines and Petroleum in Central African Republic with the exhibitors. The said Fair will be held under the patronage of the Head of State, HE Professor Faustin Archange TOUADERA, from February 27 to 29 in Bangui.
    This forum also allowed several bilateral meetings, the Minister of Mines and Geology met the Canadian Minister of Mineral Resources, during their interview they talked about current affairs concerning the two countries and the strengthening of their bilateral cooperation. met with emissaries from Botswana who confirmed the upcoming arrival of Botswana experts who will be responsible for assessing the Central African mining production system. He also met the South African Minister of Mineral Resources who has renewed the confidence his government has in the mining sector of the Central African Republic, he also promised to intensify the cooperation that already exists between the two countries through an agreement signed two years ago.

    4) Gold is currently at $1,620 USD per ounce and Axmin has a proven reserve of 2 million ounces, yet the stock is trading at a yearly low. This would be ideal time to reassess the company, the country it operates in and the asset it carries. Also remember that Axmin owns a large position in Senegal as well.
     
  14. Recent articles about the Central African Republic which shows signs of country security and investment.

    This is important for Axmin because it is the only public company with exposure and a proven resource in the C.A.R. The faster things improve the sooner Axmin will be working on it's large gold deposit.

    Many of the articles will need to be translated, so make sure your browser translate is on.

    Central African Republic: towards the return of the CEMAC commission to Bangui: http://news.abangui.com/h/71087.htm...POxiqyora31FoD4e3hQjtF4BiK8fBCk3M8vSlcAFBpL8I

    Russia to push for lifting limits on Central African Republic diamond exports: https://www.reuters.com/article/us-...frican-republic-diamond-exports-idUSKBN20J1XI

    Article regarding journalists killed in CAR a while ago. Point of article is that is clearly dispels rumours of Russians taking gold from Axmin: https://inforeactor.ru/286695-rossi...mi-interesov-francii-i-ambicii-khodorkovskogo

    IMPROVING ACCESS TO BASIC SERVICES IN THE CENTRAL AFRICAN REPUBLIC: https://www.unops.org/news-and-stor...asic-services-in-the-central-african-republic

    Central African Republic: The construction sites of Bangui M'poko International Airport are on track with projects funded by ASECNA: http://news.abangui.com/h/71100.htm...3vA9NnWbXOXMWJUGW9Uju6q2qwMvn3LuqfhSW4Central

    1000 NEW ISPS PLEDGE ALLEGIANCE TO THE NATIONAL FLAG: https://minusca.unmissions.org/1000...lz3dzhodidleQjFUJBzifuxmUsm5q5GJdjrsPrL8Cd9Bg

    EUTM-RCA: Establishment of a FACA link network: https://corbeaunews-centrafrique.com/eutm-rca-mise-en-place-dun-reseau-de-liaison-faca/

    Central African Republic: Government encourages investors to take advantage of opportunities offered by the mining sector: http://news.abangui.com/h/71112.htm...liGuaJ9HBDGo5vSDQLhDzjYXEC20ju7JC2V83dqDxNhnM

    2000 Participants Expected At Bangui Mining Expo: http://www.rfi.fr/fr/afrique/202002...a-limites-développement-exploitation-minière-

    Security Council demands armed groups in Central African Republic cease hostilities: http://www.xinhuanet.com/2020-02/28/c_1125636385.htm

    UPC Rebels back UN for peace(main group that affected Ndassima/Bambari/Alindao until last year: http://french.peopledaily.com.cn/Afrique/n3/2020/0229/c96852-9663378.html
     
  15. AXMIN Announces Changes in Board of Directors and Management

    https://www.juniorminingnetwork.com/junior-miner-news/press-releases/422-tsx-venture/axm/74025-axmin-announces-changes-in-board-of-directors-and-management.html

    2020-03-02 06:00 MT - News Release

    Vancouver, British Columbia--(Newsfile Corp. - March 2, 2020) - AXMIN Inc. (TSXV: AXM) (the "Company" or "AXM") announces the resignation of its Chief Financial Officer and member of the Board of Directors, Mr. David de Jongh Weill, effective February 28, 2020.

    "It has been very satisfying to see how this Company has evolved over the past year. I'm excited to pass on the baton to my successor and will be actively following the progress of the company," says Mr. Weill.

    CEO and Chairman of AXMIN, Ms. Lucy Yan, comments, "On behalf of the entire Board of Directors, I would like to thank David for his many contributions to AXMIN over the past years and we wish him all the best in his other ventures."

    The Company would also like to announce the appointment of Ms. Terry Wong as a director of the Company, subject to the approval of the TSX Venture Exchange.

    Ms. Wong is a Chartered Professional Accountant and a Chartered Business Valuator. She has over 15 years of financial experience working for both private and public companies. She has also worked closely with companies and professionals within the finance, mining, and energy industries. Ms. Wong has advanced knowledge of Canadian GAAP and IFRS regulations.

    Ms. Yan comments, "We are pleased to welcome Terry to AXM's Board of Directors. We are confident that Terry's expertise with both the Greater Chinese and Canadian capital and public markets will service AXM well as the company moves forward with its partnership with AU Metals Limited."

    The Company would also like to announce the appointment of Ms. Yan as Interim CFO while a suitable replacement is found.

    About AXMIN

    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 Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at www.axmininc.com. Please also follow us on Facebook. https://www.facebook.com/axmininc For additional information, please contact AXMIN Inc.:

    Lucy Yan
    Chairman and CEO
    ceo@axmininc.com
    AXMIN Inc.
    Investor Relations
    ir@axmininc.com
    www.axmininc.com

    Background of Terry Wong: https://www.linkedin.com/in/terry-wong-cpa-cma-cbv-24715433/
    VP of Business Development
    Company NameNAI Interactive Ltd.
    Dates EmployedMay 2011 – Present
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    o Provide or assist the strategic development, internal valuation, relevant due diligence and marketing support for start-ups, small and medium enterprises and publicly-listed companies in North America
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    o Coordinate different associates including lawyers, administrators, and auditors in taking projects public on the TSX or TSX-V Exchange

    Information regarding NAI Interactive: https://nai500.com/about-us/





    [​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.






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  16. Some positive developments, the last rebel held area of the Central African Republic is now under state authority, which means that the country is much safer and Axmin can finally get back to work soon on their 2 million ounce gold deposit. See news article below.

    For those that want to get in touch with the company, give Joe Tai a call at 1-604-307-9918

    https://corbeaunews-centrafrique.com/centrafrique-les-soldats-faca-de-retour-a-ndele/

    Central African Republic: FACA soldiers return to Ndélé. By Moïse BANAFIO, Journalist and CNC correspondent at Bria -May 13, 2020 Ndélé (Central African Republic) - after 8 years of absence, soldiers from the Central African armed forces are back this Wednesday, May 13 in Ndélé, capital of the prefecture of Bamingui-Bangoran. A tangible sign of the return of state authority to this tourist town long occupied by armed groups. Welcomed in their jubilation upon their arrival by rebel leader Abdoulaye Hissen Ramadan and the local populations, FACA soldiers, on board dozens of military vehicles, were taken to the TP base, a former training and cantonment site for the rebels of the FPRC. A theater of confrontation between different rival armed groups, the city of Ndélé, emptied of its inhabitants since the last clashes between the FPRC and the RPRC, has just welcomed the FACA soldiers again after more than 8 years of absence. For the moment, according to a national army officer, the exchanges are very cordial between the FACA soldiers and the rebel fighters of the FPRC. The return of Faca soldiers to Ndélé is made possible thanks to the political agreement for peace and reconciliation in the Central African Republic (APPR-RCA), signed on February 6, 2019 between the government and the 14 armed groups, and supported by the community. international. Unfortunately, when the FACA returned to Ndélé, all the civilian populations were in the IDP camp near Minusca. Case to follow.
     
  17. Information Regarding “Au Group Ltd” – Axmin Inc’s Joint Venture Partner

    Axmin Inc.(AXM.V) announced on January 20th 2020 that their “first” strategic partner would be a company named “Au Metals Ltd” which is a subsidiary of “Au Group Ltd”. This was great news, but the issue was that “Au Group Ltd” is a private company (limited information online) and therefore many shareholders did not know the financial push that they could assist Axmin with. This is why the stock did not get the true value appreciation it deserved. There was obviously some confidentiality agreement signed where they could not disclose more information regarding “Au Group Ltd”. On March 3rd 2020, a small update stated that things have progressed with the Joint Venture partner. Then on April 27th 2020, the company had announced a postponement to the financials and an update due to COVID-19 and auditor delays.

    In the meantime, I have tried several times to research this “Au Metals Ltd” with little luck. This is understandable because it’s private, so I decided to try and look for “Au Group Ltd” instead. Being the parent company, this would give a good indication as to what kind of projects or investments this private group does. After much time spent researching, I found some great content which connects this group to what Axmin has stated. Not only is “Au Group Ltd” part of a state owned enterprise, but their treasury is likely in the billions. This is why Axmin likely chose them as a partner after having numerous offers, as stated in a news release on May 6th 2019.


    Note: “Au Group Ltd” also goes by the name “Aomei Group Co” which is stated in the registration below. Even with all the names researched “Aomei Group Co”, “Au Group Ltd”, “Au Metals Ltd”, “Au Ventures Ltd” there still isn’t tons of information. Either way, these are all the articles I could find. If I looked up “Aomei Group Co” articles would show up with the name “Au Group Ltd”


    Axmin News Release: https://www.juniorminingnetwork.com...r-of-intent-with-first-strategic-partner.html


    Axmin Inc. has signed a letter of intent for the development of its Passendro gold asset in the Central African Republic (CAR) with Au Metals Ltd., a subsidiary of the Au Group Ltd. Au Metals is a gold and copper mineral focused venture capital firm established in 2015 in Hong Kong, special administrative regions, and the British Virgin Islands. Au Metals, through its related company Au Ventures Ltd., operates venture capital funds. Au Metals has been involved with numerous mining companies. Au Metals' team also has operational experience in projects throughout Asia, Africa, North America and Australia. Au Metals is well connected in the mining industry, and has close relationships with corporate and state-owned enterprise mining operations and investors in the Asia region. Au Metals maintains offices in Hong Kong, Beijing, Sydney, Melbourne, Perth and Brisbane.


    Au Group Ltd Registration: https://www.hongkongcompanylookup.com/company/2204323/


    Au Group Limited was established in Hong Kong on February 16, 2015. The company number is: 2204323, which belongs to a private limited company. The company's annual review date is after the establishment of the next year, from February 16 to March 30 every year. As of today, the company has operated for 5 years, 3 months and 0 days.


    Article From China Daily In 2016: https://wxn.qq.com/cmsid/2016070505858500


    Important Segment: Recently, Beijing Real Estate Market Co., Ltd., together with Au Group Ltd and Kuafu Properties, held a real estate investment appraisal meeting at No. 1289 in Lexington, Manhattan s Upper East Side. The project is located at the intersection of 86th Street and Lexington Avenue in the Upper East Side of Manhattan. It is in the core commercial and high-end residential area. The 10028 postal area is one of the richest areas in the United States and Manhattan. It has 18-storey luxury apartments and 3-storey corner retail shops. We have received a letter of intent for a world-renowned brand for 15 years.


    Shanghai Real Estate site that mentions Au Group Ltd: http://3sfc.com/zufang/1/10019.html



    Important Segment: Beijing Real Estate Market Co., Ltd. joined with Au Group Ltd., and affordable housing is a government-sponsored project to solve the housing problems of low-income and lowest-income families. Hefei Apartment ranked among the top six in Chengdu.


    About Kuafu Properties: http://kuafuproperties.com/



    Kuafu Properties LLC is a privately held, fully integrated real estate development and investment company based in New York City. Kuafu was established with the vision of being the ultimate bridge between Chinese and other international investors to the overseas real estate market in the United States. This bridge has been established by building a team of local market experts (investment, development, construction, sales & marketing, real estate services) based in Manhattan who have a deep understanding of the U.S. real estate markets with a specific emphasis on New York City, and strong ties to foreign investors who understand New York and seek real estate exposure through Kuafu Properties.


    Connecting The Dots


    1)Dates – Axmin mentioned that the venture firm was established in 2015. This corresponds to what the Hong Kong registry states. The two articles also have dates of 2016, roughly a year after the company was formed. This proves that it’s a real company.


    2)Locations – Axmin mentions that Au Metals has worked on projects across the globe and has several offices. Au Group Ltd also works with companies across the globe. Au Group Ltd is more real estate focused and its subsidiary is into mining. Au Group has an office in Beijing, which again ties it closely to it’s partners for work around China or investments aboard, as per the two articles.


    3)Partners – Both articles mention “Beijing Real Estate Market”, which is likely a state-owned enterprise that works with “Au Group Ltd”. Axmin also mentions that “Au Metals” is affiliated with “State Owned Enterprises”. The second article talks about government sponsored housing, meaning that Au Group would have to be quite large in order to accommodate such a project.


    4)Beijing - The November 2019 news release mentions that Axmin met with Au Metals In “Beijing”. “Au Group Ltd” has worked closely with “Beijing Real Estate Market Co” which seems like a strange coincidence. Au Group has offices around the world, yet Beijing is always the primary connection.


    5)Funding – If Au Group Ltd is invested in some of the most expensive real estate in America (As mentioned in the article) then they obviously have more than enough funds to finance the construction of Passendro or any gold mine for that matter. The parent company “Au Group Ltd” would just infuse it’s subsidiary “Au Metals Ltd” with the funds needed to move forward.


    Conclusion: This was created to help bring to light what kind of partner Axmin Inc has. Au Group Ltd. Is a real company, so are the subsidiaries. They are likely a state owned enterprise with strong connections to Beijing, AKA the Chinese government. This means that any project, even in a third world country like CAR, will be pushed through as China is on a record gold purchasing spree at the moment. China has already spent millions in the last couple years trying to help stabilize and rebuild the Central African Republic, meaning CAR government officials will have to comply with the Chinese if they intend to keep the funding and support going.
     
  18. May 17th 2020 - MINUSCA To Secure Central Region Of CAR

    From Wikipedia: Ouaka is one of the 16 prefectures of the Central African Republic.[1][2] It borders the Democratic Republic of the Congo, covers an area of 49,900 km2, and has a population of 224,076 (2003 census), giving a population density of under 5 inhabitants/km2. The capital is Bambari.

    Note: This is the region where AXM's Passendro mine is located.

    https://minusca.unmissions.org/la-m...gkriuXUsk-jGH5Zsjr73MqOJnBiy3VbdLAQeldj1E7VvY

    May 17 2020

    MINUSCA LAUNCHES TWO NEW PROTECTION AND SECURITY OPERATIONS IN THE CENTRAL REGION OF CAR

    As part of its mandate to protect populations, the MINUSCA Force has just launched two major operations, namely Operation "Igana siriri" (Bringing Peace to Sango) in Ndélé (north-central Central African Republic) as well than in the Sibut-Grimari-Kouango triangle (Ouaka and Kemo prefectures), in order to deal with the security situation in these regions.

    The operation in Ndélé will be carried out jointly with the hundred FACA soldiers, who have just been deployed in the city, and aims to restore a safe and secure environment in and around the city, to ensure the protection of civilians and d '' assist in the establishment of security conditions allowing the immediate resumption of humanitarian activities intended for populations, especially those who have fled their homes. It also aims to create conditions conducive to a lasting political solution to the crisis in the prefecture of Bamingui-Bangoran, thereby contributing to the implementation of the Agreement for Peace and Reconciliation in the Central African Republic (APPR-RCA ) In the region. To this end, the workforce is reinforced, in particular with the deployment of a rapid intervention blue helmet unit dedicated to large-scale operations as well as the dispatch of a detachment of United Nations police officers capable of supporting the investigations initiated and of help maintain order in order to prevent any criminal act in the city. The operation in Ndélé is justified by the series of deliberate attacks against the civilian population by armed groups, to which the MINUSCA Force had to respond vigorously on April 29, to expel the attackers from the city.

    As for the operation in the Sibut-Grimari-Kouango triangle, the aim is to put an end to the illegal activities of the criminal group led by the so-called Ayoloma, to strengthen the protection of civilians and to ensure freedom of movement along the main axes and secondary in the Sibut-Grimari-Kouango area. The operation follows the atrocities committed by this group on the local population, including that of March 15, during which a Burundian peacekeeper fell in his mission to protect civilians.

    In addition to these two new operations, the MINUSCA Force is continuing Operation Kiri na Autorité (Restoring State Authority) launched on April 10 in western CAR, in order to curb the activities of armed groups which, during transhumance, illegally tax populations and contribute to insecurity. To this end, the Force's ultimatum in early May forced elements of the Return, Claim and Rehabilitation (3R) group to leave the village of Baboua (Nana-Mambéré) where they were trying to set up a base, in violation of the APPR-RCA. In addition, in Lobaye, the UN Forces control the area and monitor the transhumance routes in order to avoid any incident between nomadic and sedentary populations.

    Despite the context of COVID-19, MINUSCA reiterates its commitment to fully execute its mandate, including the protection of civilians and institutions, support for the implementation of the Peace Agreement and the creation of a secure environment conducive to the holding of the next elections. It continues to work closely with the Central African defense and security forces, as evidenced by the significant support recently provided by the MINUSCA Force and Police to the deployment of police and gendarmes to Ippy, Bria and Kaga-Bandoro, as well as FACA in Ndélé, regions where the Central African defense and security forces have been absent since 2012.
     
  19. Axmin Inc Management’s Discussion and Analysis Year ended December 31, 2019

    This report is dated as of June 9, 2020. Readers are encouraged to read the Company’s other public filings, which can be viewed
    on the SEDAR website (www.sedar.com).

    Page 5:

    Throughout 2019, the Company continued to work closely with the Minister of Mining and Geology and other senior officials of theCentral African Republic. In December 2019, a site visit of the Passendro property was held at the invitation of the Minister ofMining and Geology with the Company’s management, the staff from the Company’s local subsidiaries, and local governmentofficials. During the site visit, Company committed to provide funding to assist the local government in purchasing school suppliesand repairing infrastructure. Due to the effect of COVID-19 in 2020, a final amount has not been agreed upon.

    In January 2020, the Company learned informally that the exploration and mining permits held by Aurafrique and Somio Toungou have been withdrawn. The Company has not, at the time of this report, received formal notice of any withdrawal. Later in January 2020, the Company was advised by the Minister of Mining and Geology of the Central African Republic to submit a formal request for legal review of the status of the Company’s assets in the CAR. As a result the Company engaged the local law firm, Cabinet Mboligoumba & Associes, to file the request for legal review with the Conseil d’Etat of the CAR. It should be noted that the entire balance of property, plant and equipment related to the Passendro Gold Asset were written off in the Consolidated Financial Statements for the years ended December 31, 2013 as a result of force majeure conditions in the CAR.

    In March 2020, the Company received an invitation by the office of the President of the Central African Republic. Due to the impact of COVID-19 on international travel, the meeting has been delayed.

    On April 7, 2020, the Counseil d’Etat ruled that while the government of the CAR does not have the authority to withdraw the Aurafrique and Somio Toungou permits, the Conseil d’Etat did not have the jurisdiction to overturn the withdrawal of the permits.

    On April 23, 2020, Cabinet Mboli-Goumba & Associes filed another proceeding before the Conseil d’Etat claiming the invalidity of the contested permits deemed granted to one or more companies while this proceedings were on-going. The Company has not received a ruling on this proceeding. The Company is continuing ongoing discussion with CAR government officials to reach a satisfactory resolution of this matter.

    As of the writing of this report, AXMIN continues to maintain operations in the Central African Republic, including its office, country manager, supporting staff and continues to be in contact with the local authorities.

    Page 6:

    Senegal Joint Venture

    In 2020, for the Sounkounkou permit, Teranga has indicated to the Company that it is expected to spend approximately US$1 M on exploring two BLEG (Bulk Leach Extractable Gold) anomalies, including the following planned activities:

    · +/- 3,000 soil samples
    · +/- 5,500 m of excavator trenching
    · +/- 3,500 m of RC / DD drilling

    Full details of the exploration programs at the Senegal JV can be found on the Teranga website at www.terangagold.com.

    In July 2019, AXMIN received through SMC, a tax notification from the Senegalese tax authorities. The Senegalese tax authorities considers that AXMIN, as a result of the royalties paid to it by SMC, is required to declare and pay corporate income tax in Senegal. In 2020, AXMIN obtained a tax opinion from the Senegal office of a major global accounting firm that the royalties received by AXMIN cannot be taken as revenues from the exploitation or concession of exploitation of mineral deposits located in Senegal, and therefore, AXMIN concludes that it is not liable for any taxes claimed by the Senegalese tax authorities.
     

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