AXMIF - Axmin Inc. (Gold Royalty)

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

  1. AXM.V Q2 2018 Results (Financials + MD&A) Ending June 30th 2018
    All information is available through Sedar. Numbers below are in US Dollars

    Tickers: AXM (CDN) & AXMIF (US)
    Price: $0.17
    Common Shares: 130,497,381
    Options: 8,240,000
    Insider/Institutional Holdings: 82,089,114 – 63%

    Cash: $1,944,449
    Receivables: $577,237
    Prepaid Expenses: 5,487
    Total Assets: $2,527,173

    Accounts Payable: $2,376,429
    Due To Related Parties: $189,810
    Liabilities Of Discounted Operations: $323,103

    Total Liabilities: $2,889,342

    Three Month Period (Q2)
    Revenue: $576,643
    Expenses: $146,071
    Net Income: $415,900

    Earnings Per Share - $415,900 X 1.30(CDN Exchange) = $542,111 / 130.5 Mil Shares = 0.0042c

    Six Month Period (Q1 & Q2)
    Revenue: $1,067,194
    Expenses: $263,256
    Net Income For Period: $802,015

    Earnings Per Share - $802,015 X 1.30(CDN Exchange) = $1,042,619 / 130.5 mil Shares = 0.008c

    Management Discussion & Analysis

    During the three months ended June 30, 2018, the Company reported royalty income of $576,643 from Gora Projects, compared with $386,655 for the same time period of 2017. The net income for the three months ended June 30, 2018 was $437,586 compared to $359,338 in the same period of 2016.

    Concentration of Share Ownership

    As at the date of this report, AOG Holdings BV holds approximately 12.38% of the issued and outstanding common shares of the Company on a non-diluted basis, Shenglin Trading holds approximately 15.32% of the issued and outstanding common shares of the Company on a non-diluted basis and Dickson holds approximately 34.48% of the issued and outstanding common shares of the Company on a non-diluted basis.

    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 December 24, 2012, the Company officially notified the CAR Minister of Mines and Defence of the existence of a state of Force Majeure due to the escalating rebel activity in the country and the necessity to withdraw its field operations. Prior to the Force Majeure, the Company was working towards securing financing to develop the Passendro gold project into CAR’s first modern gold mine. The following is a brief summary of the status at Passendro gold project as at December 2012. A full description of the Passendro gold project can be found in the Company’s audited financial statements for 2014 and 2013, its June 2012 Annual Information Form, the 2011 Bankable Feasibility Study Optimization & Update and its 2009 Mineral Resource Estimate prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). All reports can be accessed under the Company’s profile on the SEDAR website at

    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

    On March 26, 2018, the Minister of Mining and Geology issued an executive order No 031/18/MMG/DIRCAB/DGM to grant SOMIO Toungou an extension period of exemption from the development work and productions of the Passendro gold mine for one (1) year, running from March 22, 2018 to March 21, 2019.

    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 June 30, 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.

    As announced on November 15, 2013, the Company entered into an agreement to secure its ownership of the licenses in the CAR. Under this agreement the consultant was entitled to remuneration upon the successful completion of its services. The total outstanding payments due under this agreement amount to US$2,000,000. Axmin’s management are actively pursuing negotiations to resolve this account payable on substantially better economic terms for the Company. A further announcement will be made when appropriate.

    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 engaged a consulting company to assist the Company to obtain compensation for its mining properties damage or loss resulted from the civil war in CAR, which amounts to around XAF 18,000,000,000 ($29.0 million) from the government of CAR. In the event that the compensation from the government is received by the Company, the consulting company will be entitled to receive 15% of the total compensation.

    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.

    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 this Royalty Election, 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. The free carried interest of US$2.5 million granted to AXMIN under the Agreement has been depleted on account of its 20% Participation Interest in respect of all Participation Target Areas (being areas subject to exploration and both parties remain their respective interests (Teranga – 80% and AXMIN – 20%)). No further participation contribution needs to be made by AXMIN beyond this $2.5 million free carried interest with respect to the Participation Target Areas where a Royalty Election has been made.

    Full details of the exploration programs at the Senegal JV can be found on the Teranga website at
  2. AXMIN Announces Financial Results for the Three Months Ending June 30, 2018

    2018-08-29 14:10 MT - News Release

    Vancouver, British Columbia--(Newsfile Corp. - August 29, 2018) - AXMIN Inc. (TSXV: AXM) ("AXMIN" or the "Company") announces its financial and operating results for the three months ended June 30, 2018. All amounts included in this news release are in United States dollars


    • During the three months ended June 30, 2018, the Company reported royalty income of $576,643 from Gora Projects, compared with $386,655 for the same time period of 2017.

    • The net income for the three months ended June 30, 2018 was $437,586 compared to $359,338 in the same period of 2016.

    At June 30, 2018 the Company had cash on deposit in the amount of $1,944,449, accounts and other receivables of $577,237, and prepaid expenses of $5,487. Royalty income receivable of $573,643 has been received subsequent to the period ended June 30, 2018.

    Net assets inclined to negative $362,169 at June 30, 2018 compared to negative $1,215,536 at December 31, 2017.


    We continue our efforts and commitment with our developments in the CAR. We look forward to the time when we can reclaim our operations in CAR again.

    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 Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at

    For additional information, please contact AXMIN Inc.:

    Lucy Yan
    Chairman and CEO
    AXMIN Inc.

    General Enquiries
    Jin Kuang
    Chief Financial Officer and Corporate Secretary

    Investor Relations


    The results above are from Q2 2018 which was April to June 2018. Below is a recap of the last six quarters and all news/financials can be found at to verify these numbers:

    January to December 2017 - Axmin Inc. Earns $1.2 million USD

    January To March 2018 - Axmin Inc. Earns $386,115 In Q1 2018

    April To June 2018 - Axmin Inc. Earns $415,900 In Q2 2018
  3. Seven articles that have come out in the last week showing major progress & support in the Central African Republic. The sooner stability returns, the faster AXM/AXMIF gets it's gold mine back with billions in proven gold as shown in the 43-101 and recent company presentation.

    1) Putin Now Pursuing Multiple Long-Term Goals in Central Africa

    2) Russia, Sudan foster deal among Central African militia

    3) Presidents of African nations hail cooperation

    4) Sudan says resolved to support efforts for peace in Central African Republic

    5) The three top faith leaders of the Central African Republic have pledged to work with Russians in order to foster reconciliation in CAR

    6) Russia To Train Central African Republic Armed Forces In Inked Military Deal

    7) Rival Central African Republic militias agree demands in ‘positive’ African Union meeting
  4. September 5th 2018 news below talks about the DDRR program starting. This was mentioned by Axmin Inc back in May, now it's finally happening with major support from numerous areas:

    Article link:

    AXM News In May With Highlight:

    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 December 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."
  5. Some positive news for the Central African Republic(CAR) as the faster the country stabilizes, the faster AXM gets back to it's gold mine.

    IMF Staff Completes Visit to Central African Republic

    September 14, 2018

    End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.
    • Economic recovery continues; growth projected to reach 4.3 percent in 2018.
    • Strengthening government revenue mobilization remains a priority.
    A staff team from the International Monetary Fund (IMF), led by Norbert Toé, visited Bangui during September 7–14, 2018 to review recent developments and program implementation. The IMF supports the economic and financial program of the Central African Republic by an Extended Credit Facility (ECF) [1]arrangement since 2016. On July 2, 2018, the IMF Executive Board approved the fourth review under the ECF, bringing total disbursements under the arrangement to SDR 88 million (about US$ 123.7 million). Discussions covered the draft 2019 budget, structural reforms including the revision of the petroleum price structure, and the government’s strategy to improve public financial management and governance.

    At the end of the visit, Mr. Toé issued the following statement:

    “The economic recovery continues with growth still projected to reach 4.3 percent in 2018 and accelerate in the medium term. The projections are predicated on the restoration of peace, the extension of public services throughout the country, and a steadfast implementation of reforms. Strong and sustained growth is necessary to create jobs and reduce poverty.

    “Based on preliminary data and information collected during the mission, the economic program remains on track. Quantitative monitoring indicators for end-June 2018 agreed with the authorities have been met, but social spending underperformed. Structural reforms are advancing, although with some delays. The team emphasized the need to step up social spending to broaden public support for the reform program.

    “The team and the authorities discussed broad outlines of the 2019 draft budget with a focus on accelerating domestic revenue mobilization, consolidating the single treasury account, strengthening public financial management, and increasing social spending to tackle poverty. Given the impact of higher international oil prices on public finances the team urged the authorities to streamline the complex oil price structure. Strengthening government revenue mobilization remains a priority, including by taking decisive steps against fraud.

    “Going forward, the team and the authorities agreed on the need to accelerate the efforts to strengthen governance and transparency and sustain structural reforms aimed at improving the business environment.

    “The team met with President Touadéra, Prime Minister Sarandji, President of the National Assembly Meckassoua, Minister of Finance Dondra, Minister of Economy Moloua, the National Director of BEAC Mr. Chaibou, senior government officials, as well as donor representatives. The team thanks the authorities for their hospitality, strong cooperation and constructive discussions. The team is expected to return later this year to conduct discussions for the fifth review under the ECF arrangement and the Article IV consultation.”

    [1] Central African Republic’s ECF-supported program was approved by the IMF Executive Board in July 2016. 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.

    IMF Communications Department

    PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG

    Qatar, Central African Republic discuss relations
    17 Sep 2018 - 4:13

    Minister of Administrative Development, Labour and Social Affairs, H E Dr Issa bin Saad Al Jafali Al Nuaimi met yesterday with Minister Mahamat Taib Yacoub, Special Advisor to the Prime Minister of Central African Republic, who is currently visiting Qatar. The meeting discussed bilateral relations in areas of common interest and ways of supporting them.

    That brings support now from Russia, China, USA, France, Sudan, Qatar, African Union, European Union, Local Forces(FACA) and the United Nations.
  7. Three significant news articles have come out today which shows support for the Central African Republic on three different fronts:

    More than 1,000 Central African military personnel trained by Russia -

    Central African Republic keen to attract Qatari investments -

    AU chief in CAR to boost peace efforts -

    AXM is closer now than in the last six years to getting back to Passendro, a multi million ounce gold deposit that was proven up between 2002 to 2012.

    WGC’s China Chapter will boost gold sector: analysts

    By Zhang Hongpei Source:Global Times Published: 2018/9/25 22:18:39

    The new China Chapter being established by the World Gold Council (WGC) will bolster internationalization of the domestic gold market and offer more opportunities for Chinese gold enterprises to go global, said industry analysts.

    The WGC, a leading world organization for the industry, announced on Monday at its annual meeting in the US state of Colorado that it has established a China Chapter, according to a statement the organization sent to the Global Times Tuesday.

    The new chapter, which will be chaired by Song Xin, chairman of the China Gold Group, will enable Chinese member companies of the London-based WGC to engage more effectively with the rest of the board, said the statement.

    It was announced on the same day that Shanghai-listed Shandong Gold Group will join the WGC board as a member, becoming the second Chinese enterprise on the board after China Gold Group.

    "The Chinese gold industry has developed phenomenally over the past couple of decades, and China is now the largest producer and consumer of gold globally. As such, we are delighted that the WGC's membership is expanding, to better reflect the shape of the global gold mining industry," said David Harquail, chair of the WGC, according to the statement.

    China's gold output reached 426 tons in 2017 with consumption hitting 1,089 tons, making it the world's No.1 country in terms of production, consumption and processing, Song told the Xinhua News Agency on Tuesday.

    Jiang Shu, partner and investment director of Shanghai-based Oak Investment, told the Global Times on Tuesday that with China's upstream gold mining companies becoming strong, the establishment of the new chapter is a natural step in line with the development trend.

    "More interaction on the same platform enables domestic and international players to have a better evaluation of the global supply and demand of gold... an increasing number of Chinese gold companies are 'going out' while foreign enterprises are quite interested in the domestic market," said Jiang.

    "The new chapter is set to have a far-reaching influence on China's gold market, offering opportunities for domestic companies' upgrading as well as overseas mergers and acquisitions," Zhou Yinghao, an independent analyst of the gold industry, told the Global Times Tuesday.

    The platform will enable the Chinese gold supply chain to play a bigger role and have a bigger say in the global gold market, Zhou noted.

    Jiang said that more domestic gold producers would expand overseas via the new channel. That will hasten the opening-up of the Chinese gold market, which is currently led by commercial banks in terms of imports.

    In 2001, the People's Bank of China, the central bank, ended controlled procurement and distribution of gold, and the precious metal began trading on the Shanghai Gold Exchange the next year. Since then, the market has achieved "remarkable development," especially because it has been a relatively short period, said Zhou.

    Yet, related laws and rules, especially basic laws, need to be improved, Jiang pointed out.

    "Gold products have become more diversified and their prices are more linked with the international market to meet increasing domestic demand," Zhu said.

    In the second quarter of this year, China's total gold demand reached a three-year high of 332.9 tons, data from the WGC showed.

    With the establishment of the China Chapter, the current low market price for the metal is likely to increase at the end of this year or the beginning of next year, which will bring many opportunities for the WGC's new China chapter, according to Zhou.
  9. African Union adopts Sudan’s initiative for peace in Central African Republic

    September 29, 2018 (KHARTOUM) - The African Union has adopted Sudan initiative for peace in the neighbouring Central African Republic (CAR) said the Sudanese foreign ministry.

    The announcement was made after a meeting held on the sidelines of the UN General Assembly meetings in New York on Friday including Faustin-Archange Touadéra CAR President, Moussa Faki Chairperson of the African Union Commission, El-Dirdeiry Ahmed Sudan’s Foreign Minister, and Rwandan Foreign Minister Louise Mushikiwabo.

    "The meeting discussed the developments in the situation in the Central African Republic and means of implementing the African Initiative for Peace and Reconciliation and linking it to Sudan’s initiative, which aims to achieve the same goal," said a statement released by the Sudanese foreign ministry.

    Last August, the Sudanese government hosted a meeting for peace in CAR including the main armed groups, the Christian anti-Balaka militia of Maxime Mokom and Muslim Seleka armed faction led Noureddine Adam. The Central African government was not part of the Russian brokered meeting.

    At the end of the meeting, the two groups issued The Khartoum Declaration of Understanding of the Central African Armed Groups where they said they are firmly committed to peace. Further, they called to consider the African initiative.

    "The meeting confirmed the acceptance by all the concerned parties of the Sudanese initiative which has been adopted by the African Union on the same day by the Head of the Commission, Mr Moussa Faki, in the presence of the Secretary-General of the United Nations and all the Ministers of Foreign Affairs of CAR’s neighbouring states," further said the Sudanese foreign ministry.

    Sudan which eyes developing trade and business with CAR said committed to curbing weapon trafficking between the troubled central African country and Darfur region. Also, Russian mining firms working in CAR use Port Sudan and Khartoum expects they positively impact Darfur region.

  10. New US fund buying axmin inc stock:

    PGIM Jennison Natural Resources Fund, Inc.
    Schedule of Investments
    as of July 31, 2018 (unaudited) (continued)
    Description Shares Value

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  11. Looks as if the Central African Republic is starting to open up for tourism and business. Lots of changes over the last week since all the meetings between CAR officials, Russia, China, Sudan, African Union, United Nations, and other parties. Recently on Google there have been job postings for gold operations, travel Visa applications offered, and a map that shows just about all airplane terminals in the country safe and operational again. Keep in mind that Axmin Inc (AXM/AXMIF) has the only large scale gold mine in the country with a proven resource and ready to go back into production right away.

    See links below:

    CAR Job Posting 1:

    CAR Job Posting 2:

    Visa Travel Offer For The Central African Republic:

    Operational Flight Routes In The Central African Republic:

    Trip Advisor Offering Flights To The CAR:

  12. Bodes well from AXMIF given the size of proven deposit and how low the cost is for production. Barrick/Randgold has recently set the trend that Central Africa is the place to be.

    Rick Rule, Chairman of Sprott US Holdings, discusses the increasing trend of M&A's in the Gold Mining Sector. He covers what's likely to come next, the types of companies which attract M&A, and how M&A's are impacting the mining sector overall.


    00:32 Growing M&A Trend In Gold & Mining Companies

    02:32 Logic Behind Recent M&A Transactions

    05:05 What Types of Companies Are Fertile For Acquisition

    07:31 What Makes A Deposit A Good Take-Out Target

    08:27 'Optionality' Deposits Are Something Much Different

    09:51 How Does M&A 'Trickle-Down' And Affect Sector?
  13. Moscow to Establish Military Representation in CAR

    1:23 09.10.2018(updated 01:38 09.10.2018)

    MOSCOW (Sputnik) – Russia will offer the Central African Republic (CAR) to establish a representation of the Russian Defense Ministry at the CAR Defense Ministry, according to a document published on the official portal of legal information on Monday.

    "To approve the draft agreement between the governments of Russia and the CAR, submitted by the Russian Defense Ministry and coordinated with the Russian Foreign Ministry, on the establishment of a representation of the Russian Defense Ministry at the CAR Defense Ministry," the document reads.

    The Russian Defense Ministry is expected to hold talks with the CAR and on behalf of the Russian government, to sign the agreement. Non-fundamental changes to the draft are allowed if necessary, the statement adds.

    The goal of the draft deal is to assist the CAR in resolving issues of military and defense industry cooperation, as well as to train the CAR military personnel by the Russian specialists, the statement reads.

    According to the project, the representation will be maintained at the expense of the Russian side, and will consist of five people.

    The staff of the mission will not participate in hostilities in the territory of the CAR. If they find themselves in an emergency situation, the CAR authorities will take measures to ensure their safety, the document says.

    Since 2012, the CAR has been destabilized by the conflict between the Muslim armed group Seleka, Christian Anti-balaka militias and the government. In late August, Seleka and Anti-balaka signed a declaration of understanding after a Russia-brokered peace meeting in Khartoum.
  14. CAR President To Speak At World Investment Forum (Oct.22-26)



    The UNCTAD World Investment Forum is the pre-eminent global platform for investment and development. The Forum devises strategies and solutions for global investment and development challenges. It facilitates multi-stakeholder collective action to stimulate investment in development. The Forum offers a unique opportunity to influence investment-related policymaking, shape the global investment environment, and to network with global leaders in business and politics.

    2018 marks the 10th anniversary of the Forum. Previous editions took place in Accra (2008), Xiamen (2010), Doha (2012), Geneva (2014) and Nairobi (2016), The Forum was set up to fill the investment institutional gap in the international economic governance architecture. Since its inception it has served as the leading forum to leverage investment policy for sustainable development.

    The Forum biennually gathers more than 4,000 investment stakeholders from 160 countries. The stakeholder landscape encompasses high-level participants from the global investment community, including Heads of State and Government, ministers, executives of global companies and stock exchanges, sovereign wealth fund managers, investment treaty negotiators, heads of investment promotion agencies, international investment location experts, heads of international organizations, parliamentarians, civil society representatives, eminent scholars, and the international media.

    Organized under the overall theme Investing in Sustainable Development, the Forum will address global challenges for international investment in the new era of globalization and industrialization. Investment stakeholders will gather to brainstorm solution-oriented initiatives and build global partnerships to advance prosperity for all.

    In 2018 the World Investment Forum will bring more actors to the table including philanthropists, impact fund headsand other sustainability pioneers. More than 5,000 investment stakeholders are anticipated to converge in Geneva for the event.

    Download the official UNCTAD Notification for the 2018 Forum here:
  15. AXMIN Announces Settlement of Accounts Payable

    2018-10-10 09:35 MT - News Release

    Vancouver, British Columbia--(Newsfile Corp. - October 10, 2018) - AXMIN Inc. (TSXV: AXM) ("AXMIN" or the "Company") announces that it has entered into an agreement to settle a long standing accounts payable by the Company.

    As previously announced on November 15, 2013, the Company entered into a consultancy agreement (the "Consulting Agreement") to assist AXMIN with securing its ownership of licenses in the Central African Republic. Under this Consulting Agreement the consultant was entitled to remuneration upon the successful completion of its services. The total outstanding payments due under this Consulting Agreement amount to US$2 million and were duly recorded in the Company's accounts payable. The Company has benefited from the renewal of its respective licenses and permits and is in good standing with the Government of the Central African Republic.

    After extended negotiations as referenced in the Company's Management's Discussion and Analysis for the six months ended June 30, 2018 and 2017, the Company has agreed to a settlement of this accounts payable by making a payment of US$1.2 million and the issuance of 3.46 million shares at a price of C$0.30 per share (the "Settlement Agreement"). The transaction relating to the Settlement Agreement was unanimously approved by the Board of AXMIN, and has also received conditional approval from the TSX Venture Exchange; closing of the transaction will occur immediately following final approval from the TSX Venture Exchange.

    The shares issued pursuant to the above-referenced Settlement Agreement will be subject to transfer restrictions under a two (2) year lock-up agreement, during which time the shares may not be sold. The transfer restrictions under the lock-up agreement will expire two (2) years plus one day from the date of grant.

    AXMIN Chairman Lucy Yan said, "The Company appreciates the assistance and value provided during this difficult period of force majeure. AXMIN also appreciates the patience provided in settling this long outstanding invoice and the confidence expressed in our Company by the acceptance of shares in lieu of a cash payment. The resulting improvement of AXMIN's balance sheet is very good news for our Company and we look forward to getting back on site in the Central African Republic as soon as possible."

    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 Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at

    For additional information, please contact AXMIN Inc.:

    Lucy Yan
    Chairman and CEO
    AXMIN Inc.

    General Enquiries
    Jin Kuang
    Chief Financial Officer and Corporate Secretary

    Investor Relations
  16. Axmin 3.46 million shares for debt

    2018-10-12 15:55 MT - Shares for Debt

    The TSX Venture Exchange has accepted for filing the company's proposal to issue 3.46 million shares to settle outstanding debt for $1,038,000.

    Number of creditors: one creditor

    For further details, please refer to the company's news release dated Oct. 10, 2018.

    © 2018 Canjex Publishing Ltd. All rights reserved.
  17. Article - France Urges EU To Help Stabilize The Central African Republic

    CAR. At France’s request and amid the growing influence of foreign actors, the ministers will discuss the situation in the Central African Republic. The minister will call for strengthened EU action alongside that of the African Union, the countries in the region and the UN, to support the country’s stabilization and the restoration of State authority. This will include support for Central African domestic security forces in addition to the EU’s already considerably support for the Central African armed forces via EUTM RCA. All European partners must mobilize to help this country.

    SUNDAY 14 OCTOBER 2018
    Sudan’s FM to meet Deby, Touadéra over peace in Central African Republic
    October 14, 2018 (KHARTOUM) - Sudan’s foreign minister will travel to Ndjamena and Bangui on Monday to discuss his government efforts to settle the armed conflict in the neighbouring Central African Republic.

    Last month in a meeting held on the sidelines of the UN General Assembly, the African Union integrated the Sudanese initiative to end the armed conflict in the Central African Republic (CAR) between Muslim and Christian militias that continue to destabilize the country despite the deployment of a UN peacekeeping mission.

    In a statement released on Sunday, the Sudanese foreign ministry said Minister El-Dirdeiry Ahmed will hand over a message from President Omer al-Bashir to President Idriss Deby of Chad and President Faustin-Archange Touadéra of CAR.

    The Sudanese initiative, which involves Russia also, provides to bring together the leaders of the warring armed groups to discuss ways to end the conflict and build confidence between the different communities in the country in order to repair social fabric.

    The African Union has its African Initiative for Peace and Reconciliation, however, the mediators failed to bring the armed groups together.

    Last August, the Sudanese government hosted a meeting including the main armed groups, the Christian anti-Balaka militia of Maxime Mokom and Muslim Seleka armed faction led Noureddine Adam.

    At the end of the two-day meeting on 29 August, the two groups signed a framework agreement pledging to cease hostilities and to not obstruct free movement of persons and goods with the neighbouring countries and committed themselves to the African Union process for peace and reconciliation in CAR.

    Khartoum counts on Chad which has good relations with the Seleka militia group to support its efforts to achieve peace in the landlocked country which has growing commercial relations with Sudan.


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