AXMIF - Axmin Inc. (Gold Royalty)

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

  1. Sudan’s al-Bashir invites Congo and Gabon leaders to CAR peace talks

    November 3, 2018 (KHARTOUM) - Sudanese President Omer al-Bashir extended an invitation to the Congo-Brazzaville’s President, Denis Sassou Nguesso and the President of Gabon Denis Sassou Nguesso to attend the opening session of Khartoum peace process to end the conflict in the Central African Republic (CAR).

    According to a statement released in Khartoum on Saturday, Foreign Minister El-Dirdeiry Mohamed Ahmed Friday travelled to Congo-Brazzaville and Gabon on Friday to extend an invitation for the leaders of the two countries to take part in the opening session of the talks for peace in the CAR on 15 November.

    Following his arrival to Libreville, Derdeiry met with Gabon’s Prime Minister Emmanuel Essoze-Ngondeton and handed him a letter from al-Bashir addressed to President Bongo. On the same day, he handed over another letter to the Congolese President Sassou Nguesso at his residence in Oyo.

    "The Minister conveyed an invitation from President al-Bashir to his Gabonese and Congolese counterparts to attend these important discussions, pointing out that their personal presence will confirm the interest of African leaders in efforts to resolve the crisis in the CAR," said the foreign ministry.

    "The Congolese president agreed to attend the Khartoum talks on 15 November," added the statement.

    In mid-October, the Sudanese president sent his foreign minister to both Chad and the Central African Republic to rally support for the initiative to resolve a bloody conflict between the different groups of the central African nation.

    According to the statement, the Sudanese top diplomat explained during these meetings the preparatory talks held by Khartoum with the opposition groups, which agreed to join the Khartoum peace process. He further briefed them about the positive indicators of the meetings.

    The Sudanese presidential envoy also informed the two African leaders about the outcome of the meetings held on the sidelines of the UN General Assembly with the African Union officials, African leaders and regional and international partners to push forward the ongoing efforts to end the crisis in the Central African Republic.

    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-supported meeting.

    The divided groups signed the Khartoum Declaration of Entente on 28 August 2018 where they accept to negotiate a peaceful settlement for the civil war that erupted in December 2012.

    However, Two of the five signatory groups of Khartoum Declaration: the National Defence and Security Council (CNDS) of Abdoulaye Hissène and the Unity for Peace in Central Africa (UPC) led by Ali Darassa distanced themselves from the agreement on 19 October.

    But El-Dirdeiry said they are conducting intensive consultations and meetings to convince all the armed groups to join the process.

  2. France proposes UN peacekeeper support for Central African troop deployments

    The United Nations Security Council is weighing a proposal that would see U.N. peacekeepers in the Central African Republic offer support to newly-trained troops as they deploy across the country.

    A French-drafted resolution would authorize the U.N.’s Minusca mission to “provide limited logistical support” for troops that have been trained by the European Union, according to the text seen by AFP on Wednesday, November 7.

    The proposal is raising eyebrows, in particular from the United States, which is seeking to streamline peacekeeping operations to reduce costs and make them more effective, diplomats said.

    The council will vote next week backing “rapid extension of state authority over the entire territory” by supporting the deployment of the vetted and trained troops in areas outside the capital Bangui.

    President Faustin-Archange Touadera in April called for more peacekeepers to be deployed, and for Minusca to transition from peacekeeping to peace enforcement.

    Touadera’s weak government controls around a fifth of Central African Republic and relies heavily on Minusca for support. The rest of the country is controlled by at least 14 different militia groups who often fight each other for control of revenue from extortion, roadblocks or mineral resources.

    The draft resolution also extends the Minusca mission until November 2019 but maintains a ceiling of 11,650 military personnel. Last year, the council increased the authorized number of personnel by 900. Minusca is the U.N.’s fourth largest mission, after the Democratic Republic of Congo, South Sudan and Mali.

    Training and equipping Central African forces
    The European Union has trained more than 3,000 personnel to serve in the Central African Armed Forces (FACA). In July, the bloc extended EUTM-RCA until 2020, pledging €25 million ($29 million) to help reform the country’s defense sector. The scope of the mission was also modified to give strategic advice to the president’s cabinet, interior ministry and police, as well as the military.

    Russian advisors also work with FACA and provide security and advice to Touadera. In August, Russia signed a military cooperation agreement with CAR offering the possibility for Central African officers and NCOs to be trained in Russian military schools.

    Central African Republic troops give a demonstration of their skills at a ceremony to mark the completion of training of the latest group of CAR’s armed forces by Russian advisors, September 17, 2018. Image:
    More than 1,000 FACA personnel have completed Russian training programs in CAR, which they undertake after completing the EUTM-RCA program. They are trained by Russian instructors in the use of weapons provided by Russia.

    The U.N. Security Council imposed its current arms embargo on CAR in 2013, but weapons shipments for the security forces can be authorized after special pre-approval by a sanctions committee. The embargo was last year lifted by the Security Council to allow delivery of Russian weapons, which the U.N. has since verified with the defense ministry and Russia.

    Russia’s Ambassador to CAR Sergey Lebanov said on September 17 that a second shipment of Russian arms and ammunition “is in preparation,” and will be delivered once it has Security Council approval.

    However, while on a visit to CAR on November 2, Foreign Minister Jean-Yves Le Drian announced that France would “soon deliver” 1,400 assault rifles for FACA within a strict and transparent U.N. framework, adding that “it would be absurd to train soldiers and not to give them the means to perform their duties.”

    It is unclear if the intended French shipment is instead of or in addition to the proposed Russian delivery.

    Some of the more than 70 vehicles donated by China’s Poly Technology group to Central African Republic’s military forces, August 8, 2018. Image:
    In June, France, the U.S. and the United Kingdom put a hold on a CAR request for U.N. Security Council approval of weapons shipments from China.

    On September 26, Touadera reiterated a call for “the total lifting of the arms embargo that still weighs on our national army” in an address to the annual U.N. General Assembly.

    Parfait Onanga-Anyanga, the outgoing U.N. special envoy to CAR and head of Minusca, said the following day that the U.S. had also proposed sending “new quantities of weapons” to the country.

    Onanga-Anyanga said that the need for weapons was “undeniable” as the Central African Republic government builds its armed forces, but urged transparency in the flow of arms.

    France, Belgium, China and the U.S. have recently supplied equipment for CAR’s military, but that equipment is understood not to include weaponry.

    Competing peace efforts
    The draft resolution also takes aim at recent Russian efforts to broker peace deals in CAR by specifying that an African-led initiative is “the only framework” for a solution.

    Working with Sudan, Russia on August 28 convened talks in Khartoum where four ex-Seleka groups and a rival anti-Balaka group signed a declaration of understanding which said they had decided to “create a common framework for dialogue and action for a real and lasting peace.”

    However, on October 19, two of the ex-Seleka groups said they had withdrawn from the agreement, and a third withdrew days later.

    The Russia-brokered talks drew criticism from former colonial power France which said there was “no alternative” an on-going African Union initiative, but Russia’s foreign ministry has said Moscow “plans to continue its mediation efforts” in coordination with the A.U. and U.N.

    Supported by the U.N. and other international partners, an A.U. expert panel has been working to set up negotiations between the militias and the government since July 2017. France, Russia and the U.S. are observers in the A.U. iniitiative.

    An African Union expert panel attempting to broker peace meets with representatives of Central African Republic’s armed groups to discuss their demands, Bouar, August 28, 2018. Image: @UN_CAR/Twitter
    Just days after the Khartoum declaration was signed, representatives from 14 militias held talks that could lead to negotiations with the government, a spokesperson for the A.U. expert panel said.

    The “positive” meeting ended with a single list of 104 demands, signed by the representatives of the 14 armed groups that would be be put to the government as “the basis for negotiations between the two sides,” Francis Che said.

    Touadera welcomed the A.U. meetings, saying that “the African initiative is the only frame of reference” for dialogue.

    To step up diplomatic efforts, the U.N. and A.U. plan to appoint a joint special envoy, while Onanga-Anyanga will become part of the A.U. panel leading the peace effort.

    A divided country
    Despite reserves of diamonds, gold, uranium, copper and iron, Central African Republic is one of the world’s poorest countries.

    The majority-Christian country descended into violence following the 2013 ousting of President Francois Bozize in 2013 by the Seleka, a coalition of mainly Muslim rebel groups.

    Seleka was officially disbanded within months, but many fighters refused to disarm, becoming known as ex-Seleka. Many others joined the mainly Christian anti-Balaka militia to fight the Seleka, leading to a spiral of violence between groups along both religious and ethnic lines.

    By the end of 2014, the country was de facto partitioned – anti-Balaka in the southwest and ex-Seleka in the northeast.

    Violence by both sides led to thousands of deaths. Nearly 700,000 people are displaced, 570,000 have fled the country and 2.5 million are in need of humanitarian aid, according to the U.N.
  3. Concordis International Open Office In Central African Republic

    Announced October 25th 2018 via their website

    We open a new office in Paoua, Central African Republic
    Concordis has made a new home in Paoua, Ouham-Pendé province, north of the Central African Republic. The city is a hub of humanitarian and relief activities for the province – hosting an MSF hospital and an UN-secured airstrip. From our new office, we will be able to carry out our community dialogues and peacebuilding workshops right in the heart of important pastoral corridors between Chad, Cameroon and the south of CAR.

    Timea Szarkova, our CAR Programme Manager and Peter Marsden, our Director of Programmes, headed out to the field last month to prepare Concordis’ arrival in the country. They were delighted to find a home for our project. The office is not only an operational base, but aims to be a true home to our Project Manager, Financial Director and visiting staff. In addition to the house, our garden includes an outdoors, thatched-roof meeting room – or paillotte-, in the pure spirit of Central African dialogue traditions.

    We are very excited to open our office and start work in Paoua. With indefatigable enthusiasm, our Programme Manager is already back in the field to ensure a smooth start to our activities. We wish her a safe trip and can’t wait to welcome the project staff on the premises.

    New Programme in Central African Republic
    Concordis is delighted to announce that funding has been secured to commence a new programme in the beautiful Ouham Pendé Préfecture, in the north west region of the Central African Republic. With support from UK Aid Direct and the European Union Bêkou Trust Fund, Concordis will be able to leverage its expertise in dealing with conflicts related to cross-border transhumance and help local people identify their own mutually beneficial solutions to avoid recourse to violence in the management of their differences.

    Based in the pleasant sub-prefecture town of Paoua, Concordis will be able to carry out peace-building activities throughout the region, where conflicts between several armed groups, as well as between herders and farmers, make it hard for peaceful and safe transhumance to take place. These seasonal migrations, which occur not only in relatively small perimeters, but also across the borders with Chad and Cameroon, are one of the most important sources of income for the region. The lack of mechanisms to resolve conflicts and to ultimately allow the resumption of transhumance affects a large number of citizens of the region. We hope to help the local people set up such mechanisms.

    Concordis will also act as a consultant in several other prefectures in the north of the country, in order to help our partner organisations support them with conflict analysis, beneficiary feedback, and overall conflict sensitivity in implementing their development actions.
  4. Axmin Inc Insider/Institutional Holdings
    Mutual Funds
    PGIM Jennison Natural Resources Fund 666,158
    USAA Precious Metals and Minerals Fund 200,000
    Institutional Holdings
    Dickson Resources Limited British Virgin Islands 45,000,000
    Shanghai Shenglin Trading Co., Ltd. China 20,000,000
    AOG Holdings BV (3)The Netherlands 15,001,938
    Consulting Group (October 10th 2018 News) 3,460,000
    Director Holdings Common Shares - Does Not Include Options
    David De Jongh Weill 1,716,616
    Total Insider/Institutional Holdings: 86,044,712 out of 134 million
  5. World Bank Report For Central African Republic. Doing Business In CAR In 2019

    About Doing Business: The project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. Doing Business The project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle. Doing Business captures several important dimensions of the regulatory environment as it applies to local firms. It provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. also measures features of labor market regulation. Although does not present rankings of economies on the labor market regulation indicators or include the topic in the aggregate ease of doing business score or ranking on the ease of doing business, it does present the data for these indicators. Doing Business Doing Business Doing Business By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time, encourages economies to compete towards more efficient regulation; offers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business climate of each economy. Doing Business In addition, offers detailed , which exhaustively cover business regulation and reform in different cities and regions within a nation. These reports provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. Selected cities can compare their business regulations with other cities in the economy or region and with the 190 economies that has ranked. Doing Business subnational reports Doing Business The first report, published in 2003, covered 5 indicator sets and 133 economies. This year’s report covers 11 indicator sets and 190 economies. Most indicator sets refer to a case scenario in the largest business city of each economy, except for 11 economies that have a population of more than 100 million as of 2013 (Bangladesh, Brazil, China, India, Indonesia, Japan, Mexico, Nigeria, Pakistan, the Russian Federation and the United States) where also collected data for the second largest business city. The data for these 11 economies are a population-weighted average for the 2 largest business cities. The project has benefited from feedback from governments, academics, practitioners and reviewers. The initial goal remains: to provide an objective basis for understanding and improving the regulatory environment for business around the world.
  6. Diamond & Oil mineral sectors in the Central African Republic are in the midst of starting back up again. This means that the Gold sector where Axmin inc is based should be ready to go shortly as well.

    (converted to English from French via the CAR news page)


    CAR Minister of Mines and Geology, Mr Leopold Mboli Fatran, attended with Mr Francis Sodea, Director General of Petroleum, the 25th edition of Africa Oil Week held from 5-9 November 2018 in Cape Town, South Africa.

    Addressing as a member of the ministerial panel on national energy strategies on Wednesday, 7 November, Minister Fatran gave an overview of the CAR oil sector while indicating its prospects for development.

    He then discussed with Ms Andrea Brown, CEO of the South African company DigOil, who was exhibiting at the American Association of Petroleum Geologists meeting the first promising of the bloc C she is being exploring in the southwestern region of CAR.

    On November 8, the Minister of Mines met on the sidelines of the conference, Mr Zhou Song, Executive Director and President of SINOPEC, already established in CAR as a service provider in oil exploration and who would to strengthen its presence in the country.

    Finally, on November 9, Minister Mboli Fatran met with his Sudanese counterpart, Honorable Azhari Abdalla Abdelgader, with whom they committed to strengthen the ties in the near future between their respective departments through the formalisation of their bilateral cooperation.
  7. Three new articles out talking about how the Central African Republic is growing in terms of economy, military strength and foreign investment. They are in French and will need to be converted to English via google.

    1) New Flights Offered In Central African Republic -

    2) FACA deployed to Alindao to secure town -

    - Note: This is major news because Alindao is the UPC stronghold and once they are eliminated from the area, Bambari to Ndassima should be secured, thus giving Axmin access back to the gold deposit. Not only that, Alindao is much father from Bambari than Ndassima, which means FACA has a much larger radius of control and support.

    3) Chinese company to begin exploring for oil in the Central African Republic -

    - This isn't gold, but it goes to show that now Diamonds and Oil are being extracted from the country. Thus gold isn't far away and the tax dollars earned by the government will help stabilize everything
  8. International Trade Center & CAR Officials Meet

    Central Africa: ITC builds capacity of trade and investment support institutions
    Posted on Friday November 23rd 2018 | Rjdh Central African Republic

    BANGUI - the International Trade Center (ITC) in collaboration with the Ministry of Commerce and Industry organized a workshop from 21-23 November 2018 at the Ledger Hotel Bangui on the validation of the feasibility study for the creation a Central African agency promoting investment and exports.

    It is within the framework of the reinforcement of the institutional mechanism of support to the development of the investments and the exports, that the government of the Central African Republic initiated, with the assistance of the ITC, a feasibility study on the creation of an organization specifically dedicated to promoting investments and exports as an instrument for revitalizing the economy and growth.

    The main objective of this validation workshop is to provide the various stakeholders with the conclusions and recommendations of this study as well as the new device to be considered.

    Ruben Phoolchund, Head of Office for Africa CCI's Country Programs Division salutes the government's commitment to the International Trade Center, "The International Trade Center also commends the Government of the Central African Republic's commitment to reforming the environment and encourages it to pursue these reforms in order to guarantee the legal security of the investments with a view to facilitating the work of this new creative agency, "greeted the Head of the Office for Africa.

    The recommendations are based on the results of the analysis of the current institutional framework for trade and investment support, as well as on the assessment of the needs for support services of Central African companies.

    The proposed model for the new Agency includes a governance and management structure, an organic operating framework, a typology of investment promotion support services and exports to be developed, and the modalities for their implementation.
  9. China pledges to build capacity of Central African police

    China pledges to build capacity of Central African police

    Posted on Friday November 23rd 2018 | presidency

    The President of the Republic, His Excellency Pr Faustin Archange TOUADERA received in audience in the early afternoon of November 21 a delegation of Chinese policemen, led by Mr. Zhong BING.

    This team of Chinese police instructors came to the Central African Republic to train Central African police officers at the request of President Touadera to his Chinese counterpart Xi Chin Ping during his last state visit to China.

    This training will contribute to the Government's policy for the rehabilitation and restructuring of the Defense and Homeland Security Forces.

    Recall that during his first mission to China as head of the Central African State, President TOUADERA visited the police institute in Fujia. This visit enabled the Central African Number One and the President of this Police University to sign a contract for the capacity building of Central African police officers and elements of the Presidential Guard.

    Chinese police instructors will now be assigned to Central African territory to train thousands of police officers.
  10. UN Tweet Reveals Bambari-Ndassima Corridor Being Worked On. This is the final leg since Axmin's multi million ounce proven gold deposit is right beside the town of Ndassima.

    Passendro gold deposit beside NDassima -

    Tweet From November 20th -

    OIM République Centrafricaine‏@IOM_CAR Nov 20
    Rendre possible l'accès humanitaire. #IOM réhabilite le bac de l'axe Bambari-Ndassima dans le cadre du programme de réduction des violences communautaires #CVR. Financement PBSO/MINUSCA. @UN_CAR @unpeacebuilding #CARcrisis @rochdi_najat @OCHA_CAR @ONUmigration @IOMROWCA @RcaUnct

    Translated from French by Microsoft

    Make humanitarian access possible. #IOM rehabilitates the BAC of the Bambara-Ndassima axis within the framework of the Programme for the reduction of Community violence #CVR. Funding PBSO/MINUSCA. @UN_CAR @unpeacebuilding #CARcrisis @rochdi_najat @OCHA_CAR @ONUmigration @IOMROWCA @RcaUnct
  11. EU Official To Visit CAR & Russia/France Agree To Work Together

    Nov.26th - EU to visit CAR and offer support on security(need to translate) -

    Nov.27th - Russia & France to cooperate on stabilizing the CAR -
    - This is big news because the countries have been arguing with each other for months now. A team effort can speed up the stabilization process

    US Group to clean up Bria -

    - Bria is another important town that's located east of Bambari/Ndassima. With that corridor secured, Axmin should have no issues whatsoever with rebel groups or bandits.
  12. AXM.V Q3 2018 Results (Financials + MD&A) Ending September 30th 2018
    All information is available through Sedar. Numbers below are in US Dollars

    *NOTE* - October 10th Cash & Share Deal Was Completed After Q3 Ended. Will be reflected in Q4 balance sheet

    Tickers: AXM (CDN) & AXMIF (US)
    Price: $0.26
    Common Shares: 130,497,381 - Increased by 3.46 million after Q4 share deal
    Options: 8,240,000
    Insider/Institutional Holdings: 82,089,114

    Cash: $2,250,907 - Cash will drop $1.2 million after Q4 deal
    Receivables: $153,047
    Prepaid Expenses: $2,105
    Total Assets: $2,406,059
    *NOTE - CAR property value has not yet been added to assets

    Accounts Payable: $1,436,261 - Liabilities will drop $1.2 million after Q4 deal
    Due To Related Parties: $192,572
    Liabilities Of Discounted Operations: 0 - only liability removed in Q3
    Total Liabilities: $1,628,833

    Asset/Debt Ratio: 1.48:1 - first time since 2012 when a positive ratio

    9 Month Earnings Summary
    - Royalty Revenue: $1,214,682
    - Total Expenses: $399,454
    - Removal of $323,103 liability
    - Total Comprehensive Income: $1,125,731
    - USD Earnings Per Share: $0.008

    *NOTE* - Terenga still owes Axmin around $1 million USD in royalty payments. This is paid as Gora ore is processed and sold

    Management Discussion Highlights

    Third Quarter 2018 Highlights

    - During the three months ended September 30, 2018, the Company reported royalty income of $147,488 from Gora
    Projects, compared with $273,516 for the same time period of 2017.
    - The net income for the three months ended September 30, 2018 was $310,826 compared to $206,789 in the same period
    of 2017.

    Business and Summary of Activities

    AXMIN is a publicly listed corporation with its shares trading on the TSX Venture Exchange (“TSXV”) under the symbol AXM. The
    Company is an international mineral exploration and development company with a strong focus on the African continent. AXMIN,
    through its wholly-owned subsidiaries, has exploration projects in the Central African Republic (“CAR”) and Senegal. The
    Company’s primary asset is the Passendro gold project situated in the CAR. Due to escalating interreligious conflicts in the CAR, all
    in-country operations other than administrative functions, carried out in the capital city of Bangui, have been suspended.
    In June 2018, Axmin has received confirmation from Teranga that the Government of the Republic of Senegal has granted two new
    exploration permits under the 2016 Senegalese Mining Code for Sounkounkou and Bransan, encompassing the 17 target areas that
    the Company shares an interest in with Teranga.

    The initial term of the exploration permits is for a period of 4 years with a requisite minimum expenditure commitment during this
    initial period. Thereafter the exploration permits are renewable two times for consecutive periods not exceeding three years each
    provided that Teranga has satisfied its work and expenditure commitments. The Bransan perimeter is 337.3km2
    and Sounkounkou is 291.7km2, which together cover roughly 90% of the prior permit areas.

    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 above Senegal permits. Axmin’s royalty rights are intended to continue and
    survive the Joint Venture Agreement and remain tied to the permits themselves, irrespective of title holder.

    Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit.
    Royalty income in the amount of $4,033,360 has been recognized since Gora Deposit began production. The total royalty income
    for the nine months ended September 30, 2018 was $1,214,682 (for the nine months ended September 30, 2017 - $970,855). The
    royalty is applied to the production of gold from the Gora deposit, located in the Senegal Republic. The Gora deposit is operated by
    Axmin's joint venture partner, Sabodala Mining Company SARL, a wholly owned subsidiary of Teranga Gold Corp.


    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. Since that time, AXMIN
    has not had access to its Passendro project. The Mining Convention of 2006 and the addendum thereto concluded in August 2010
    provide the Company with full protection under the circumstances and, in the event that there is a change of Government in the
    CAR, the existence of Force Majeure stays work related obligations. It is these circumstances that have caused the Company to
    suspend all Passendro based operations as well as negotiations with prospective lenders.

    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

    On October 15, 2013, the Government of the CAR signed the Decree No. 13.412, stating that the duration of the validity of the
    Bambari 1 and 2 Exploration Licences held by Aurafrique SARL, a wholly owned CAR registered subsidiary of the Company, were
    extended for a period of one year from August 7, 2013 to August 6, 2014.

    On October 15, 2013, the Government of the CAR granted SOMIO Toungou SA, a wholly-owned subsidiary of the Company, a oneyear
    extension of the exemption from starting the development and pre-production work at the Passendro Gold Project. The period
    of the extension of the exemption is valid from January 11, 2014 to January 10, 2015.

    On October 15, 2013, the Government of the CAR (“Government”) officially acknowledged the considerable monetary losses the
    Company sustained, which was estimated to be approximately US$38 million, at its operations in the capital city of Bangui and at its
    Ndassima camp located 60 km north of the town of Bambari. In response to those losses, the Government has consented to a
    compensation of 50 percent of all taxes, rights and taxations, but did not specify the applicable time period. Given the uncertainty of
    the Government compensation, the Company has not accrued any compensation

    On October 18, 2013, the Government of the CAR certified that the License of Exploitation (the “Mining License”) held by SOMIO
    Toungou SA, which was originally granted to the Company on August 5, 2010 and recorded under the Chronological Code
    PE001/10 (Registration number 002 of August 5, 2010) by the Department of Mines, remains valid for a period of twenty-five years
    from the date of the grant.

    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.

    On November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued Ministerial Order No
    245/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year to start the development and pre-production work at
    the Passendro Gold Project to SOMIO Toungou SA, a wholly-owned subsidiary of the Company. The period of the Exemption is
    valid within duration of one (1) year starting from November 28, 2016 to November 27, 2017.

    Also on November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued the Ministerial Order No
    246/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year for exploration and research of the primary layer of
    gold and others related to substances of Licenses of BAMBARI 1 and 2 to Aurafrique SARL, a wholly-owned subsidiary of the
    Company. The period of the Exemption is valid within duration of one year from November 28, 2016 to November 27, 2017.
    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 September 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.

    This impairment recognized in the financial statements does not in any way mean that the Company is relinquishing its rights to the
    assets and it reflects the utmost conservative view by management on the objective circumstances and will be reviewed annually
    and subject to recovery when certain conditions are met pursuant to the accounting standards the Company has adopted.
    The Company through its in-country staff have maintained close communications with senior ministers and officials in Bangui and
    also in Bambari which is the closest city to the Company’s asset near Ndassima. AXMIN’s country representative Mr. Boubacar
    Sidbe recently meet with the Vice Mayor of Bambari and Sub-prefect to discuss the situation on the ground and express the
    Company’s desire to get back on site. Meetings have also been held with the Mining Minister and Chief of the Office of the Head of
    State. AXMIN remains confident that stability will eventually return to the country and that the Company will be well positioned and
    ready to work with the elected government of the CAR to develop a pragmatic mining plan focusing on the extremely high-grade
    deposits that will be safe for our employees and contractors, have limited capital expenditure and hopefully achieve very profitable
    returns in a very timely fashion for shareholders.

    The Company notes as reported in the world press that the Central African Armed Forces (FACA) have recently been deployed in
    the city of Bambari and the vicinity. AXMIN regrets the violence that has taken place during this time, and believes that the
    combination of the FACA and MINUSCA forces on joint patrols should hopefully bring stability to the region enabling the Company
    to become operational again at Ndassima near Bambari.

    Senegal Joint Venture

    On February 28, 2012, AXMIN and its joint venture partner and manager, Sabodala Mining Company SARL (“SMC”), a whollyowned
    subsidiary of Teranga Gold Corporation (“Teranga”) amended its 2008 joint venture agreement. At the time, Teranga had
    earned an 80% interest in the Sounkounkou, Heremokono and Sabodala NW explorations licenses (the “Project”) located in the
    Birimian belt of eastern Senegal, by spending US$6 million on exploration. AXMIN has retained a 20% interest in the Project. The
    amended joint venture and royalty agreement (the “Agreement”) supersedes and replaces the original joint venture agreement.
    The 2012 Agreement with SMC includes, among other things, the following terms: (a) both parties agree that their respective
    interests (Teranga–80% and AXMIN–20%) in the Project are divided into Target Areas (being areas subject to exploration) and
    Remainder Areas (areas not yet subject to exploration); and (b) that both parties will retain all respective interests in all of these
    areas, until an election is made by AXMIN to convert its 20% interest in a Target Area into a 1.5% NSR or Royalty Interest (“Royalty
    Election”). After AXMIN has made a Royalty Election with respect to the Target Area, SMC will solely fund all finance work costs for
    each of the Royalty Interests.

    As of February 28, 2012, AXMIN elected to take a 1.5% NSR Royalty Interest in the Gora Deposit, located on the Sounkounkou
    permit. In July 2012, the Republic of Senegal declined the application submitted by SMC, the manager, for the extension for the
    Sabodala NW license, which has now expired and is believed to have been granted by the Senegal Government to a third party.
    On September 5, 2014, an extraordinary extension of 24 months for the Heremokono exploration permit has been granted by the
    Senegal authorities.

    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.

    Senegal JV – Gora Deposit (1.5% Royalty Interest)

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

    On November 1, 2018, Teranga released its nine months ended September 30, 2018 Financial Statements and MD&A which
    contain additional information including information on Gora’s reserve and resources as noted below:

    Exploration and Evaluation Assets and Expenditures

    AXMIN holds a 100% interest in the Bambari properties which consist of a 25-year Mining Licence (355 sq km), which was granted
    in August 2010 and remains valid up to date, and two Exploration Licences, Bambari 1 and 2 (1,240 sq km), which were also
    granted in August 2010 and remains valid up to date. The Bambari properties had been the subject of substantial exploration by
    AXMIN since the discovery of the Passendro project. The Passendro project is situated in the centre of the Mining License which is
    ring-fenced by the two Bambari Exploration Licenses.

    Impairment in the amount of $37,346,576 was recognized as at December 31, 2013 on the Bambari properties to reflect the
    decrease in their recoverable value as the result of the current political turmoil in CAR. The new government of the CAR might
    adopt different policies respecting foreign development and ownership of mineral resources. Any such changes in policy may result
    in changes in laws affecting mining policies, ownership of mineral assets and might extend to expropriation of mineral assets. The
    recoverable amount of the Company’s Bambari properties is $nil based on management’s estimate of the asset’s fair value less
    costs to sell (“FVLCD”).

    As at September 30, 2018, there has been no significant change in the assumptions used to determine the FVLCD since the
    impairment loss was recognized in 2013 but as stated above the Board may re-evaluate the FVLCD once the Company is back on
    site and operational.

    Subsequent Events

    The Company settled an accounts payable of $2.0 million 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. A settlement agreement has been entered into (the "Settlement Agreement") and the
    transaction relating to the Settlement Agreement has received final approval from the TSX Venture Exchange. Subsequent to the
    period end, the US$1.2 million was paid and the 3.46 million shares were issued extinguishing this accounts payable in its totality.
    The shares issued pursuant to the above-referenced Settlement Agreement are 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.

    Subsequent to the period end, 280,000 stock options were exercised.

    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.

  13. wlenaty

    wlenaty New Member

    Technically, AXMIN INC. (AXMIF) has been showing support at 0.182 and resistance at 0.224. From the relationship between price and moving averages; we can see that: this stock is BULLISH in short-term; and BULLISH in mid-long term.
    goldismyfriend likes this.
  14. Axmin earns $310,826 (U.S.) in Q3 2018

    2018-11-28 09:08 MT - News Release

    Ms. Lucy Yan reports


    Axmin Inc. has released its financial and operating results for the three months ended Sept. 30, 2018. All amounts included in this news release are in United States dollars


    • During the three months ended Sept. 30, 2018, the company reported royalty income of $147,488 from Gora projects, compared with $273,516 for the same time period of 2017.
    • The net income for the three months ended Sept. 30, 2018, was $310,826 compared with $206,789 in the same period of 2017.

    Liquidity and capital resources

    At Sept. 30, 2018, the company had cash on deposit in the amount of $2,250,907, accounts and other receivables of $153,047, and prepaid expenses of $2,105. Royalty income receivable of $147,487 has been received subsequent to the period ended Sept. 30, 2018.

    Net assets increased to $777,226 at Sept. 30, 2018, compared with negative $1,215,536 at Dec. 31, 2017.


    The company is very pleased with the progress made to strengthen the balance sheet by settling the long-standing accounts payable. Axmin is looking forward to becoming operational again in the Central African Republic (CAR) as soon as conditions allow.

    Resignation of chief financial officer

    Jin Kuang has tendered her resignation and David de Jongh Weill has been appointed as the chief financial officer, effective from Nov. 15, 2018. In addition to having already served as chief financial officer of a listed public company, Mr. Weill has served as chairman of four companies listed in Toronto, London and Sydney.

    Mr. Weill commented: "It is a privilege to serve Axmin as chief financial officer at this exciting time as we are making the requisite preparations to become operational again in the CAR. I believe that the duly elected government has laid a strong foundation for peace and stability in the country, and that it is now only a question of time for our company to be back on site and operational once more at the Passendro asset."

    About Axmin Inc.

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

    We seek Safe Harbor.

    © 2018 Canjex Publishing Ltd. All rights reserved.
  15. Quarter Oz Mined By TGZ Price Of Gold Per Quarter (USD) Estimated Payment (1.5%) Actual Payment
    Q3 2015 2,414 $1,104.44 $39,991.77 $0.00
    Q4 2015 20,401 $1,090.19 $333,614.49 $252,721.00
    Q1 2016 27,560 $1,165.76 $481,925.18 $457,259.00
    Q2 2016 14,517 $1,226.34 $267,041.67 $232,045.00
    Q3 2016 8,570 $1,334.77 $171,584.68 $165,794.00
    Q4 2016 17,301 $1,217.09 $315,853.11 $125,282.00
    Q1 2017 22,286 $1,218.57 $407,355.77 $310,684.00
    Q2 2017 21,402 $1,258.65 $404,064.41 $386,655.00
    Q3 2017 11,123 $1,277.64 $213,167.85 $273,516.00
    Q4 2017 60,587 $1,275.84 $1,159,489.77 $614,723.00
    Q1 2018 58,384 $1,329.77 $1,164,559.38 $490,551.00
    Q2 2018 29,052 $1,306.97 $569,551.00 $576,643.00
    Q3 2018 1,608 $1,212.58 $29,247.43 $147,488.00

    Totals 295,205 $1,232.20 $4,958,648.08 $4,033,361.00

    Owed To AXM From TGZ (USD)

    Gold Average Price Per Quarter:

    AXM.V All Numbers In USD
    Year Total Assets Total Liabilities Total Revenue Gain/Loss Asset/Debt Ratio Common Shares
    2007 $79,216,000 $3,200,000 nil -$5,930,000 24.76 213,436,657
    2008 $85,461,000 $889,999 nil -$8,619,999 96.02 235,908,368
    2009 $35,989,999 $1,283,000 nil -$54,450,000 28.05 292,137,709
    2010 $71,040,000 $8,627,000 nil -$6,687,000 8.23 437,281,437
    2011 $46,502,000 $5,068,000 nil -$9,633,000 9.18 62,767,410
    2012 $39,471,000 $3,301,000 nil -$6,409,000 11.96 63,160,312
    2013 $568,000 $2,639,000 nil -$44,264,000 0.22 92,998,258
    2014 $297,677 $2,598,169 nil -$20,220 0.11 110,529,109
    2015 $347,504 $2,520,590 $252,271 $135,408 0.14 126,000,445
    2016 $516,121 $2,952,285 $980,380 -$272,296 0.17 130,497,381
    2017 $1,738,742 $2,954,278 $1,585,578 $1,141,752 0.59 130,497,381
    2018(Q1-Q3) $2,406,059 $1,628,833 $1,214,682 $1,125,731 1.48 130,497,381

    Notes: 1) TGZ.T has not processed all Gora Ore. Close to $1 million USD still to be paid
    2) 16 other potential producing targets to be opened up in 2019
    3) Asset/Debt ratio positive the first time since 2012.
    4) October 10th 2018 deal for balance sheet clean up won't show until Q4 results( Apr 2019)
  16. 7 New Positive Articles About The Central African Republic (Last 24 Hours)

    Merck of Germany to build healthcare facilities in the CAR -

    MINUSCA commends Rwanda police peacekeepers -

    EU Gives CAR 38 Million Euros For Support (Must Translate) -

    United States Offers Logistics Support To CAR - (most recent Facebook Post today)

    330 Amphibious Soldiers Complete Training For CAR (Must Translate) -

    MLPC(1 of 14 rebel groups) announces support for government (must translate) -

    November 29th March For Peace Process & Russian Support In CAR -
  17. The European Union promotes the return of public services and economic recovery through the opening up of the CAR regions

    The European Union promotes the return of public services and economic recovery through the opening up of the CAR regions

    Posted on Monday, December 3, 2018 | EUROPEAN UNION

    The project to open up Central African regions was officially launched yesterday in Bimbo in the presence of the President of the Republic, Pr. Faustin-Archange Touadéra, and the Director-General for Development and International Cooperation of the European Commission, Stefano Manservisi.

    Funded by the EU via the #Bekou Fund topped by € 7 million and implemented by Expertise France, the project aims to open up the RCA through the installation of metal bridges.

    "Building bridges is like building links," said DG Manservisi. "This project is a great turning point for the country: connecting the regions, connecting Bangui to the rest of the country, with a tangible improvement in the living conditions of the people who live in the country. will have easier access to markets, basic services and human exchanges between them.The common objective is to contribute to the development of the regions of the country, but also to the strengthening of its unity, of its feeling of country and nation, of its living together through mobility and the free movement of people, goods and values ".

    For the Minister of Economy and Planning, Felix Moloua, after the approval in June 2017, concrete steps have been taken to officially launch the project to open up and facilitate the development and creation of conditions conducive to the return of refugees. refugees and displaced persons.

    "A result of all the efforts of Europeans in the Central African Republic": for the Ambassador of France in the Central African Republic, Éric Gérard, the project will allow the construction of bridges to facilitate the free circulation of the waterways with a view to a better connection with the population.

    A metal bridge element was handed over by DG Manservisi to the President of the Republic, symbolically marking the launch of the project which will also see in its implementation the development of the capabilities acquired by the Central African military engineers through the training provided. by the EUTM.

    Launched in July 2014, the Bekou Trust Fund is funded by the European Commission, France, Germany, the Netherlands, Italy and Switzerland.
  18. Central African Republic: Bouar hosts awareness caravan ahead of "grand disarmament"

    Central African Republic: Bouar hosts awareness caravan ahead of "grand disarmament"

    BOUAR (Central African Republic), December 1 (Xinhua) - An awareness caravan supposed to prepare Central African armed groups to join the so-called Disarmament, Demobilization, Reintegration and Repatriation (DDRR) process in the western regions is today in Bouar (west), it was found on Saturday.

    The "big disarmament" in question will be launched in the coming days in Paoua, according to the schedule given by the president Faustin-Archange Touadéra.

    Taking advantage of a sports meeting in Bouar on the occasion of the festivities of 1 December marking the 60th anniversary of the proclamation of the Central African Republic, Abel Déholo, DDRR communications officer, insisted on the need to return weapons, the first step of this process.

    He recalled that this disarmament was the consequence of the agreement reached on May 10, 2015 between the government and the representatives of the armed groups. In his eyes, this will have a positive impact on peace and development, the foundations of the restoration of state authority throughout the country.

    Mr. Déholo also mentioned the reintegration mechanisms of ex-combatants, who could join the gendarmerie, the police, the Waters and Forests, the customs or firefighters, if they meet the criteria, or learn a trade by example in agriculture, breeding, trade, carpentry, mechanics, electricity or computing. He indicated that installation kits will be provided.

    The DDRR process in Central Africa is supported by the local UN Mission (MINUSCA) and the World Bank.

    Prior to the large DDRR itself, a pilot program had already been piloted, incorporating 234 young ex-combatants into the army and adding another 280 socio-economically.

    The awareness caravan will cover the cities of Bossemptele, Baoro, Baboua, Zoukombo, Beloko, Niem Yelewa, Koui, Bocaranga and Bozoum. A similar campaign had traveled from November 3 to 10, many localities of the sub-prefecture of Paoua.


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