AXMIF - Axmin Inc. (Gold Royalty)

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  1. Chairman Lucy Yan Provides AXMIN's Year End 2018 Financial Results
    Vancouver, British Columbia--(Newsfile Corp. - April 29, 2019) - AXMIN Inc. (TSXV: AXM) ("AXMIN" or the "Company") AXMIN releases highlights from its Annual Report for the year ended December 31, 2018, which has been filed on SEDAR (amounts are in U.S. dollars).

    2018 highlights


    • Revenue of $1.5 million (2017: $1.6 million);
    • Net Income of $1.5 million (2017: $1.2 million);
    • Shareholder Equity $0.9 million (2017: deficit $1.2 million)
    • Cash balance of $1.0 million (2017: $1.1 million);

    Senegal with Teranga Gold Corporation (Teranga)

    • NSR royalty from Teranga for the Gora Deposit was largely unchanged at $1.5 million from $1.6 million the previous year.
    • Work at Gora is now completed, but as of December 2018 there was remaining ore in stockpile to be processed by Teranga.
    • AXMIN holds an additional 16 properties in conjunction with Teranga subject to future development with no further capital participation contribution required from AXMIN.
    • AXMIN staff are in discussions with Teranga regarding progress on developing other properties in which AXMIN has an interest.
    The Central African Republic (CAR)

    • AXMIN is delighted with the progress made in the Central African Republic to establish a lasting peace that will bring stability and development to the country. The Company is looking forward to being back on site and working at its Passendro gold asset near Ndassima in the near future.
    • AXMIN has appointed Mr Lifei Jiang as CEO of the two subsidiary companies of AXMIN in the CAR in preparation for our imminent return to operations. Mr Jiang benefits from a great deal of experience in mining and construction projects in Africa. He has worked for and with large Chinese state-owned enterprises and is very familiar with the laws and regulations in our jurisdiction.
    Commenting on the annual results, Ms. Lucy Yan AXMIN's chairman, said:

    "During the past year AXMIN has made excellent progress on many fronts. Internally, we have resolved a long-standing account payable and now benefit from a clean balance sheet with positive Shareholder Equity. We are pleased with the revenue we have received from the Gora deposit in conjunction with Teranga and look forward to future target properties being developed.

    "In the CAR, we have seen positive steps taken by all of the stakeholders in the CAR with active support from international organizations such as the African Union and the United Nations as well as the neighboring countries to the CAR. We look forward to a continuation of this trend and a security solution to be implemented in Ndassima.

    "In my report in January, I presented the way forward for AXMIN in 2019 building on the strong results in 2018. I am happy to confirm that we are on track to deliver the key milestones highlighted in my report. The appointment of Mr Jiang as CEO of Somio Toungou S.A and of Aurafrique SARL is a key development that will enable our successful development of the Passendro gold asset. We have also already identified and commenced dialog with several potential strategic partners to assist with developing our assets before even commencing the formal selection process.

    "Also, as I stated in my January report the Company will be more communicative with the market going forward. AXMIN looks forward to updating its shareholders and the financial markets as a whole with operational developments in the CAR in the near future."

    This press release should be read in conjunction with the Company's audited annual report and accounts for the year ended December 31, 2018, together with its annual information form and management's discussion and analysis for the year ended December 31, 2018, all of which are available from the Company's website and on SEDAR.

    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 Please follow us on Facebook

    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 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

    General Enquiries

    David de Jongh Weill
    Chief Financial Officer and Corporate Secretary

    +65 9781 8281

    Investor Relations
  2. AXM receives $500K USD payment from TGZ for Q1 2019 Royalty (From TGZ results today)

    TGZ Financials Page 9: Includes royalties to Axmin Inc. on account of their 1.5 percent net smelter royalty on the Gora deposit. During the three months ended March 31, 2019, the Company incurred $0.5 million of Axmin royalties (2018: $0.5 million).
  3. IMF Staff Completes Mission to the Central African Republic

    IMF Staff Completes Mission to the Central African Republic
    May 3, 2019

    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. Based on the preliminary findings of this mission, staff will prepare a report that, subject to management approval, will be presented to the IMF's Executive Board for discussion and decision.
    • The recent peace agreement is a unique opportunity to improve the Central African Republic’s (C.A.R.) security and create the conditions for sustained and inclusive growth, poverty reduction, and job creation.
    • Good progress was made in discussions with the authorities on economic and financial policies that could support completion of the sixth and final program review.
    • C.A.R.’s macroeconomic performance remains favorable with increasing economic growth and contained inflation.
    An International Monetary Fund (IMF) team, led by Mr. Édouard Martin, visited Bangui from April 24 through May 3, 2019 to conduct discussions for the sixth and final review of the Central African Republic’s economic reform program supported by an Extended Credit Facility (ECF). The team met with President Touadéra, President of the National Assembly Ngon-Baba, Minister of Finance Dondra, Minister of Economy Moloua, National Director of the BEAC Chaibou, and other senior government officials. The team also met with parliamentarians and representatives of the business and donor communities.

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

    “The peace agreement signed on February 6, 2019 by the government and representatives of 14 armed groups represents a unique opportunity to improve the Central African Republic’s (C.A.R.) security situation and create the conditions for sustained and inclusive growth, poverty reduction, and job creation.

    “C.A.R.’s macroeconomic performance remains favorable. Economic growth is estimated at around 4 percent in 2018 and is projected to reach 4½ percent in 2019. Inflation was subdued at 1.6 percent in 2018 and is expected to remain contained. The current account deficit (excluding grants) would decline from about 12 percent in 2018 to around 11 percent in 2019. The banking sector remains well capitalized and liquid, with the share of
    non-performing loans decreasing significantly thanks to the repayment of commercial arrears by the government. Risks to the outlook remain significant, relating on the downside to the volatile security environment and rising oil prices and on the upside to the implementation of the peace agreement.

    “The implementation of the ECF-supported program—which will expire on July 19, 2019, as initially envisaged—is broadly on track. Program performance at end-December 2018 is satisfactory overall: all quantitative performance criteria were met, except for the domestic primary deficit, reflecting higher-than-expected current spending, and the repayment of domestic arrears, which was slightly delayed. Domestic revenue in the first quarter of 2019 was lower than expected, owing mainly to the forced closure in March of the main road from Cameroon and delays in the transfer on budget of the parafiscal taxes collected by public agencies. Most structural reforms have also been implemented, except for the elimination of parafiscal taxes without economic justification, which will require more time than initially estimated, and the submission to parliament of the draft law on public agencies, expected in the coming days.

    “The Central African authorities and the IMF team made good progress in discussions on a set of economic and financial policies needed for the completion of the sixth and final review under the ECF. Discussions focused on the parameters of a revised budget for 2019—to be submitted to parliament before mid-June—with a view to optimize the use of the additional budget support provided by international partners to help sustainably meet the new priority spending needs generated by the peace agreement. Additional measures to improve and sustain revenue mobilization—including strengthening imports and export valuation—are also key to meeting these needs.

    “The team urged the authorities to accelerate the integration of parafiscal taxes in the treasury single account and the implementation of the planed elimination of taxes and fees with no economic justification to support private sector development. The authorities are also encouraged to continue the strengthening of public expenditure management, to promote transparency and good governance. The authorities requested an IMF governance diagnostic mission and confirmed their commitment to limit borrowing—including concessional loans—to safeguard debt sustainability.

    “The team thanks the authorities for their warm hospitality, cooperation, and constructive discussions."

    IMF Communications Department


    PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG
  4. Axmin begins formal process to choose Passendro partner

    2019-05-06 05:50 MT - News Release

    Ms. Lucy Yan reports


    Axmin Inc. is commencing a formal process for the selection of a strategic partner (or partners).

    With the improving security and stability in the Central African Republic (CAR), AXMIN is now moving forward into a selection process for the development of the Passendro asset.

    Potential Strategic Partners should:Be large multinational corporations that have experience with large scale construction, mining and infrastructure development in Africa.Be capable of dealing with in country logistics and liaising with various security services.Have an established track record of delivering projects on time and on budget.Enjoy an impeccable record for health, safety and environmental protection. Be sensitive to AXMIN's strict focus and adherence to Corporate Social Responsibility.

    Commenting on the commencement of the formal process, Ms. Lucy Yan AXMIN's chairman, said:

    'We are delighted to now commence the formal selection process for a Strategic Partner or more broadly a team of Strategic Partners. As we have communicated before, AXMIN is already in discussions with several potential candidates; but as we now have clarity on returning to work on our asset in the CAR, it is appropriate to broaden this process and facilitate an open playing field for this development opportunity.'

    Interested parties should contact AXMIN's CFO, Mr. David Weill at to progress the requisite documentation for access to the Company's online dataroom and be included in the process.

    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 a producer. For more information regarding AXMIN visit our website at Please follow us on Facebook

    We seek Safe Harbor.
  5. Axmin Inc. Performance Chart From 2007 To 2019
  6. Central African Republic: Ten armed groups provide list of their members for the peace process

    BANGUI, May 17 (Xinhua) - Three months after the signing of a peace agreement between the Central African State and the 14 armed groups active on the territory, ten of them have handed the list of their members on Friday. likely to be eligible for the peace process in the Central African Republic (CAR), found on Friday in Bangui a Xinhua correspondent.

    This took place at the 17th Ordinary Session of the Advisory and Follow-up Committee of the National Program for Disarmament, Demobilization, Reintegration and Repatriation (DDRR).

    From now on, almost a thousand ex-combatants are on the list of eligible candidates for the DDRR program, either by integrating the Central African Armed Forces (FACA) or by choosing a socio-economic activity for which they will have to be trained and then provided. in installation kits in the field of their choice.

    In a response to the press, DDRR Minister Noël-Bienvenu Sélesson said lists of members of armed groups are essential for planning DDRR activities. The latter were officially launched by Central African President Faustin-Archange Touadéra from the Central African city of Paoua (extreme north-west) last December.

    Mr. Sélesson also added that the lists are necessary for the constitution of the special mixed security units (USMS), recommended by the peace agreement and to regroup the regular forces that are the FACA, the policemen and gendarmes, as well as some ex-combatants rebel groups.
  7. Axmin Inc updates on Facebook are very positive regarding the Central African Republic

    FACA(CAR forces) have entered an area north of where Axmin's gold deposit is for the first time in 5 years, as stated by the CAR government facebook page. This means it's highly likely that they have secured the Ndassima region or at the very least will be headed there shortly.
  8. Cooperation Between CAR & Chinese Officials For Mining

    Wed 17/04/2019 - 12:00
    The Minister in charge of Mines and Geology, Leopold MBOLI FATRAN conferred on 17 April in Bangui with the Vice Governor of the Chinese Province of FUJIAN on a working visit of a few days in the Central African Republic.

    The Vice-Governor of FUJIAN Province, Mr. Li-DEJIN, at the head of a strong delegation exchanged with the member of the Government on the issues of economic cooperation and investment in the field of mining and geology.
    This visit, which is part of a friendly and cooperative relationship, further strengthens ties between China and the Central African Republic. This relates to the exploration and exploitation of Mineral Resources. A visit of the officials of the Department in the Chinese province is planned for the coming months. It should also be noted that young Central African graduates have just left for China for a two-year period as part of a Master's degree course in Petroleum Project Management.
  9. AXMIN Announces Financial Results for the Three Months Ending March 31, 2019 and Recent Operational Highlights

    2019-05-30 08:04 MT - News Release

    Vancouver, British Columbia--(Newsfile Corp. - May 30, 2019) - AXMIN Inc.(TSXV: AXM) ("AXMIN" or the "Company") AXMIN releases highlights from its un-audited interim Financial Report for the quarter ended March 31, 2019. All amounts included in this news release are in United States dollars.

    Financial Results:

    • During the three months ended March 31, 2019, the Company realized royalty income of $494,411 from the Gora Project, compared with $490,551 for the same time period of 2018.
    • The net income was $322,505 compared to $373,527 in the same period of 2018.
    Liquidity and Capital Resources:

    • As at March 31, 2019 the Company had cash on deposit in the amount of $1,190,421, accounts and other receivables of $506,627, and prepaid expenses of $9,978. Royalty income receivable of $494,411 has been received subsequent to the period ended March 31, 2019.
    • As at March 31, 2019, the Company had working capital of $1,283,718 compared to a working capital of $935,823 as at December 31, 2018. The change in working capital reflects a higher balance of cash and a lower balance of accounts payable and accrued liabilities.
    Operational Highlights:

    On January 14, 2019 AXMIN released an update for 2019 providing a road map for development of the Company during this year with the main focus being to become operational again in the CAR. This announcement highlighted the deployment of the CAR armed forces (FACA) in Bambari and surrounding areas. The Company also stated it would when appropriate appoint additional senior staff and commence a process to select a strategic partner or partners to assist with the development of the Passendro asset.

    On April 10, 2019 AXMIN announced the appointment of Mr. Lifei Jiang as CEO of Somio Toungou S.A and CEO of Aurafrique SARL in Central African Republic and Mr. Jean Qian as Board Secretary and CEO Assistant of Axmin Inc.

    Subsequent to the appointment of Mr Jiang, the Company has prepared and presented a Site Recovery and initial project plan to the Executive and to the Ministry of Mines in the CAR. Axmin is working directly with the Government to return to work at Passendro imminently. The Company is fully prepared to recommence activities immediately as soon as the Government of the CAR is confident of the security solution that is being put in place at this time.

    On May 6, 2019 AXMIN announced that it has commenced the formal process for the selection of a strategic partner or partners for the development of the Passendro asset in the CAR as the company had clarity on its return to operations in the CAR. The Company is pleased to announce that this process is proceeding well.

    On May 20, 2019 the Government of the CAR announced that it had successfully established a FACA military base at Kaga Bandoro without violence after an absence of 5 years from this area. The Company is delighted with this development as it should provide a key strategic base to establish security in the Bambari, Djiboussi, Katsia and Ndassima corridor in which the Passendro asset is located.

    Commenting on the quarterly results, Ms. Lucy Yan AXMIN's chairman, said:

    The Company is very pleased with the progress made by the Government of the CAR toward a lasting peace and a security solution for the area of our mining asset, the Passendro deposit.

    We are also delighted to be on course as per our January guidance as to our expectations for 2019. The Company has met the key milestones we anticipated and once back on site we will commence the site survey and development of a phased rapid production plan with a strategic partner or partners. Given the deployment of FACA at Kaga Bandoro, we expect this return to site will be imminent.

    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 Please follow us on Facebook
  10. World Bank Provides $100 Million for the LONDO Project in the Central African Republic

    World Bank Provides $100 Million for the LONDO Project in the Central African Republic

    WASHINGTON, May 30, 2019 - The World Bank Board of Executive Directors today approved a $100 million grant from the International Development Association (IDA)* for the LONDO project in the Central African Republic (CAR).

    This additional financing will provide temporary employment to vulnerable persons and facilitate access to basic services nationwide. Known as “LONDO+,” this financing will help triple the number of labor-intensive public works beneficiaries, providing close to 5 million paid work days in the country.

    “While it will take time for the formal private sector to establish itself across the entire country, the project will continue to fill an important gap by providing temporary jobs in all of the CAR’s districts, including the most remote areas. It will also provide access to basic services, especially in isolated areas where neither humanitarian nor development actors operate,” says Jean-Christophe Carret, World Bank Country Director for the Central African Republic.

    LONDO+ will directly support implementation of the peace agreement signed in Bangui on February 6, 2019. Under this agreement, development projects will provide basic socioeconomic infrastructure, jobs, and labor-intensive public works programs. LONDO+ has five components: (i) local governance; (ii) public infrastructure; (iii) socioeconomic integration; (iv) project management; and (v) contingency emergency response.

    Sophie Grumelard, World Bank Senior Social Protection Specialist and Task Team Leader for the project, explains that “the project will gradually promote a bottom-up approach to development to allow communities to articulate their needs to the central government through the local authorities that will represent and defend their interests. It will increase the Government’s logistical and technical capacity and agility to respond to crises in provinces with extremely poor and vulnerable communities.”

    The new closing date for the LONDO project is July 30, 2024.

    *The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to 1.5 billion people. Since its inception, IDA has supported development work in 113 countries. Annual commitments have averaged around $18 billion over the past three years, with about 54 percent going to Africa.
  11. Central African Republic - Rebels Complete Disarmament

    The Revolution Justice was one of the 14 signatories of the February 5, 2019 Khartoum, Sudan peace accord with the government.

    In spite of the difficult security situation in the Central African Republic, CAR, which last month saw the massacre in Paoua of 30 civilians by 3R rebels, progress is being made in restoring peace. Some 14 armed groups on February 5, 2019 in the Sudanese capital, Khartoum, reached a peace deal with the government of President Faustin-Archange Touadéra. Agency reports say the RévolutionJustice, RJ rebel movement of Armel Ningatouloum Sayo, which operated in the far north-west and west of the country, last week completed the disarmament of its combatants.

    "There are no more RJ fighters in the localities we visited," noted Captain Guy-Sylvain Goné, head of the disarmament and demobilization mission that visited the area. He added that the last fighter to hand in his weapon was Luther Bétoumbam, Chief of Staff of the defunct RJ rebel movement. Révolution-Justice leader, Armel Ningatouloum Sayo, was one of the re presentatives of 14 armed groups who signed the peace agreement with government last February. He was later appointed High Commissioner in charge of National Pioneer Youth, with rank of a cabinet minister.

    All disarmed combatants have two choices - join the military or learn a trade and be reintegrated into society. Meanwhile, Mankeur Ndiaye, the Special Representative and head of the UN Multidimensional Integrated Stabilization Mission in the Central African Republic, MINUSCA, will on June 15, 2019 brief the United Nations Security Council on the SecretaryGeneral's MINUSCA report. The Chair of the Peace-building Commission's Central African Republic configuration, Ambassador Omar Hilale of Morocco, may also brief the Council. MINUSCA's mandate expires on November 15, 2019.
  12. University Research Report Shows Positive Impact Of China-CAR Relations (Released June 2019)

    *Please note that Axmin is majority owned and directed by a Chinese business team, hence the purpose of posting this report*

    Note: This is a very long research report and only the briefing is posted.

    In this article, we highlight people’s appreciation of the positive impact of South-South relations. This study is based on data collected from a survey conducted in 2018 with 624 people. Through this study, we study how the actions led by China in the field of natural resources in CAR have impacted in the country and on local people. We note that the presence of a foreign power in the field of natural resources is conditioned by the achievement of certain actions in quite diverse fields. Also, no results indicate that China has conducted many actions in CAR that have had a positive impact on the sample. Through this study, we show the importance of diversifying part- nerships through South-South relations. We found that China does not condition its interventions by political or social requirements. China’s relations with CAR, as with all other African countries, are based on the principle of win-win cooperation. Beyond France and China, this article concerns others states wishing to invest in the Central African Republic (also in all Africa countries). It invites them to adopt the principle of mutually beneficial cooperation in the development of a poor country.

    Example of successful mining deal:

    In 2017, the Central African Government and the Chinese company ThienPaoSarl signed a contract for five mining exploration permits mentioned above. This contract involved the exploitation of natural resources in western CAR (Krock, 2017). The Chinese company DEWEY has planned to rehabilitate school and administrative buildings, as well as the construction of new roads and a health center (Mbaye, 2017). DEWY operates in a semi-mechanized manner, the mineral resources (diamonds and gold) in the sub-prefecture of Gadzi (southwest), on the Lobaye River in the region between Boda and Carnot. We have seen a huge influx of Chinese investors in CAR for the exploitation of natural resources these last times
  13. IMF, China, and EU announce three new sources of funding for the Central African Republic:

    EU mobilises over €18 million for the Central African Republic in 2019 -

    Central African Republic: China Donates 16 Billion FCFA -

    IMF Executive Board Completes Sixth Review -

    Close to $80 million USD between the three sources.
  14. Axmin grants options to buy 3.75 million shares

    2019-07-04 05:40 MT - News Release

    Ms. Lucy Yan reports


    Axmin Inc. has granted stock options to directors, officers and advisers of the company for an aggregate of 3.75 million stock options of the company exercisable at 60 cents, effective July 2, 2019. The options shall expire and terminate on July 2, 2024.

    These stock options have been granted in accordance with the company's stock option plan 2005. Immediately following this award of stock options, the company has issued and outstanding stock options for 11.65 million common shares of the company and there were 1,773,738 stock options of the company available for future grant.

    About Axmin Inc.

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

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
  15. Hundreds of militia fighters disarm in C. Africa peace plan

    Hundreds of militia fighters disarm in C. Africa peace plan

    July 17, 2019

    Bangui (Central African Republic) (AFP) - Hundreds of fighters from several militia groups in conflict-torn Central African Republic have laid down their weapons, the United Nations said on Wednesday, as the impoverished country struggles to end bloodshed among armed groups that control vast swathes of territory.

    The nation, gripped by crisis since a 2013 coup, is striving to disarm and demobilise some 14 rebel groups as part of its latest peace efforts, which are supported by the UN peacekeeping mission MINUSCA.

    So far, "five groups are already engaged in the process, disarming more than 450 fighters" in the west of the country, MINUSCA's deputy chief Kenneth Gluck told a press conference in the capital Bangui.

    Among these he highlighted the Democratic Front of Central African People (FDPC), which he said had been "completely disarmed", adding that fighters of the Revolution and Justice (RJ) and the UFR-anti-Balaka militias had also given up arms.

    He said the 3R militia group, blamed for the massacre of more than 50 civilians in May, has also pledged to lay down its arms.

    The bloodshed in villages near the northwestern town of Paoua, close to the border with Chad, was the worst single loss of life since the government and the 14 militias signed the deal in February aimed at restoring peace to one of Africa's most troubled countries.

    The largely Muslim Seleka ("alliance") coalition that ousted president Francois Bozize 2013 was officially dissolved the same year before fragmenting into separate groups including the 3R.

    Nominally Christian militias called the anti-Balaka emerged in response to the coup, accelerating a cycle of sectarian violence.

    UN envoy Mankeur Ndiaye stressed the importance of dialogue in ending the unrest, saying: "There is no military alternative to the Central African crisis."

    With some 11,650 troops and 2,080 police deployed, according to the United Nations, MINUSCA's top priority is to protect civilians and stem the daily violence.

    Former colonial power France intervened militarily from 2013 to 2016 to expel the Seleka, and then wound down the operation.
  16. United Nations eases arms embargo on Central African Republic

    As AXM(Axmin Inc) shareholders wait for news from the current company blackout, we are greeted with some positive news from the Central African Republic. This will help stabilize and secure the country, therefore allowing Axmin to return to Passendro in due time.

    Since 2013, the United Nations has enforced a total arms embargo, except for exemptions approved in 2017 with French and Russian backing to equip newly formed army units.

    The UN Security Council on Thursday unanimously approved the easing of an arms embargo on the Central African Republic for the first time since 2013 when it was engulfed in violence. Drafted by France, the resolution authorizes the country's security forces to be supplied with weapons of a caliber of 14.5 mm or less provided that the UN has been notified at least 20 days in advance.

    The notifications must specify the type, caliber, quantity and serial or lot numbers of the weapons as well as the manufacturer and supplier. And under no circumstances, can the weapons be sold or transferred to third parties, according to the resolution.

    "It remains to be seen when there can be a further easing," said a diplomat. "The hope is there won't be too many weapons entering the country, especially weapons the state cannot control."

    "The number of weapons entering the country must correspond to real needs," the diplomat added.

    The Central African Republic, a country of 4.5 million people, plunged into violence and chaos in 2013 after President Francois Bozize was ousted from power by Seleka rebels. The state controls only a small part of the national territory, as armed groups fight in the provinces over resources like diamonds, gold or livestock.

    Since 2013, the United Nations has enforced a total arms embargo, except for exemptions approved in 2017 with French and Russian backing to equip newly formed army units.

    The UN has 13,000 peacekeepers deployed in the Central African Republic. In February, the government reached a peace agreement with 14 armed groups that led to the formation of a new government that includes representatives of the groups.
  17. 2019-11-29 06:28 MT - News Release

    Ms. Lucy Yan reports


    Axmin Inc. has released highlights from its unaudited interim financial report for the nine months ended Sept. 30, 2019. All amounts included in this news release are in U.S. dollars.

    Financial results:

    • During the three months ended Sept. 30, 2019, the company did not receive royalty income as the Gora project is now complete. For the nine-month period, Axmin received royalty income of $563,028.
    • The net loss for the three months ending Sept. 30, 2019, was $817,006 of which $689,955 was due to accounting for the issuance of share options to directors and management during the quarter. Net of this allowance, the net loss was $127,051.
    Liquidity and capital resources:
    • As at Sept. 30, 2019, the company had cash on deposit in the amount of $1,396,303.
    Operations update

    Axmin and the government of the Central African Republic (CAR) have been in extensive discussions over the last several months as to the development of the company's Passendro deposit. Both the company and the government of the CAR wish to see a rapid development of the asset, however the security situation in the area surrounding the company's development area has unfortunately not stabilized as quickly as the government and the company anticipated. This is expected to improve in the near term, and in the interim the company is starting activities that are practicable given the current situation.

    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.

    About Axmin Inc.

    Axmin is a Canadian exploration and development company with a strong focus on central and West Africa.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
  18. Central African Republic: Council establishes a civilian advisory mission

    Council of the EU Press release 9 December 2019 10:45

    Central African Republic: Council establishes a civilian advisory mission

    The Council established a European Union CSDP civilian advisory mission in the Central African Republic (EUAM RCA). The mission will be launched by the Council no later than in the spring of 2020. Accordingly, a core team will make the necessary preparations to allow the mission to reach its initial operating capability.

    The aim of the mission is to support the reform of the internal security forces to enable the Central African Republic (CAR) authorities to mitigate the current security challenges in the country. EU experts will support the Ministry of the Interior and the internal security forces, the police and the gendarmerie, with the aim of helping in their deployment throughout the country.

    In a phased, scalable and modular approach, EUAM RCA will provide advice to the CAR authorities at the strategic level to support the sustainable transformation of CAR internal security forces into a coherent and accountable security provider operating under national ownership. The mission will coordinate closely with the military EU Training Mission (EUTM RCA), the UN MINUSCA mission and the international community.

    The mission will be established in accordance with the crisis management concept (CMC) that was approved by the Council on 21 November 2019 and the subsequent operational planning documents. The CAR will be the third country to receive support in parallel from both military and civilian CSDP missions after Mali and Somalia.
  19. TGZ Buys Similar Sized Deposit To AXM's Passendro Mine For $380 Million

    Axmins joint venture partner in Senegal announced today that they purchased 90% of a 2.6 million ounce gold deposit from Barrick for $380 million. This is significant for two reasons:

    1) Axmin's Passendro gold mine has a proven resource of 2.5 million ounes, two million being higher grade and the rest lower grade. Regardless, it's similar in size.

    2) Axmin still has a 20% interest in Senegal with Teranga Gold on 338km2 of land, along with 17 royalty targets.

    AXM recently announced going back to site a couple weeks ago to survey Passendro, therefore making the project real again, alongside a meeting with the joint venture partner this month (see latest news release). This is again proof that the company trades at a major discount to it's peers.

    From the Teranga Gold news today:

    Teranga Gold to acquire 90% of Massawa project

    2019-12-10 05:42 MT - News Release

    Mr. Richard Young reports


    Teranga Gold Corp. has entered into a definitive agreement pursuant to which it will acquire a 90-per-cent interest in the Massawa gold project from a wholly owned subsidiary of Barrick Gold Corp. and its joint venture partner, Compagnie Senegalaise de Transports Transatlantiques Afrique de l'Ouest SA (CSTTAO), with the government of Senegal holding the remaining 10-per-cent interest in Massawa. (All amounts are in U.S. dollars unless otherwise stated)

    Massawa is one of the highest-grade undeveloped open-pit gold reserves in Africa (2). It is located within trucking distance of Teranga's flagship Sabodala Gold Mine ("Sabodala") in Senegal, creating the opportunity for significant capital and operating synergies(3). The proximity of the projects and the combination of Sabodala's mill and Massawa's high-grade ore (the "Sabodala-Massawa Complex") are expected to scale Sabodala into a top tier asset.

    "The Massawa acquisition is transformational for Teranga and - by creating a top tier gold complex - the first in the country - an important milestone for the gold mining industry in Senegal," said Richard Young, Teranga's President and Chief Executive Officer. "We anticipate that production from the Sabodala-Massawa Complex, together with our Wahgnion Gold Mine ("Wahgnion") in Burkina Faso, will increase Teranga's targeted consolidated annual gold production and reposition Teranga as the next multi-asset, low-cost, mid-tier gold producer in West Africa, one of the world's premier gold mining regions."

    Total aggregate consideration for the Transaction is $380 million upfront (the "Upfront Consideration") plus a gold price-linked contingent payment (the "Contingent Consideration" and together with the Upfront Consideration, the "Consideration"). The Consideration will be in the form of cash and common shares of Teranga ("Teranga Shares"). See below for details on the financing of the Transaction.

    Transaction Highlights

    Teranga to acquire one of the highest-grade undeveloped open-pit gold reserves in Africa (2)

    The historical mineral reserves base of the Massawa project is 2.6Moz from 20.9Mt at 3.94 g/t Au and is one of the highest-grade undeveloped open-pit gold reserves in Africa. This will augment Sabodala's mineral reserves base of 2.4Moz from 55.7Mt at 1.35 g/t Au (see Appendix, Tables 1 and 2).
  20. Yesterday we saw Teranga Gold announce a $400 million acquisition for a gold property in Senegal which sits literally several kilometers away from Axmin's property. After analyzing the news release again, I noticed something very important in the same article under the end notes. It states the highest grade undeveloped open pit gold projects in Africa. In this portion it mentions Passendro, Axmin's gold project in CAR. This is important because out of hundreds, if not thousands of gold projects across the African continent, AXM holds one of the best. The market will soon see the value unfold as joint venture talks are currently underway and a site survey as well (see last news release from the company).
    as per the end notes:
    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 November 15, 2019, and includes the following projects: Sanbrado project (Burkina Faso), Tulu Kapi project (Ethiopia), Passendro project (Central African Republic), Yaoure, (Côte d'Ivoire), Wa-Lawra project (Ghana), Baomahun (Sierra Leone), (Block 14) Sudan, (Bombore) Burkina Faso. Other companies may calculate their respective reserves base differently.

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