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Thread: AXM.V - Axmin Inc. (Gold)

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    AXM.V - Axmin Inc. (Gold)

    AXM.V Due Diligence Report (Most Recent Financials + MD&A)

    Price: $0.05
    Common Shares: 130,497,381
    Options: 8,240,000
    Insider/Institutional Holdings: 82,089,114 (as per Sedar Information Circular)

    Axmin Inc. is a gold royalty and production based company focused in Africa. They own 100% interest in the only large scale gold mine in the CAR(Central African Republic), as well as a 1.5% royalty in Senegal on a multi million ounce deposit that TGZ.T(Teranga Gold) put into production at the start of 2016.

    Axmin received a $185 million USD loan in 2011 after proving up 2+ million ounces of gold in CAR and was ready to create the first large mine in that country. Shortly after, an internal conflict broke out, suspending operations for several years. Now, the conflict is pretty much over and there are numerous larger institutions backing support for not on the Central African Republic, but also for Axmin’s mine. This is because it can bring immense economic benefit to the country of only 5 million people. In the meantime, the royalty from Senegal has added tremendous cash flow to the company that can help rebuild assets.

    The website is currently being updated(as per my conversation with management) but this 2012 presentation has all the information on the CAR gold deposit. Keep in mind that Senegal was not in production at this time, so it’s not included in it.

    https://www.yumpu.com/en/document/vi...ject-axmin-inc

    AXM will have year end results in April and Q1 2018 results in May, two more quarters of revenue/profit from the gold royalties.

    Financials + MD&A (All Assets Are In $USD)

    ASSETS
    Cash: $1,088,948
    Receivables: $278,321
    Prepaid Expenses: $2,184
    Total Assets: $1,369,453 (2016 - $516,121)

    LIABILITIES
    Accounts Payable: $2,468,754
    Due To Related Parties: $235,737
    Liabilities Of Discontinued Operations: $323,103
    Total Liabilities: $3,027,594 (2016 - $2,952,285)

    2017 & 2016 Revenue Summary (All $USD)

    2016 (Q1-Q4)
    Royalty Income: $980,380
    G&A Expenses: $295,821
    Net Income: $684,559
    *note – Show loss due to $1 million being spent on increasing CAR acreage in preparation for going back into the country and increasing the reserves

    2017 (Q1-Q3)
    Royalty Income: $970,855
    G&A Expenses: $292,824
    Net Income: $705,718

    As you can see, AXM is very profitable just on the gold royalty alone. But having the CAR project back would add literally a few billion dollars worth of gold value since all the work has been done on that property and it is ready to go into production. Recent news shows the UN, EU, IMF, Russia and numerous countries/institutions supporting the resumption of business in the country.

    MD&A Highlights From Q3 2017

    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.

    With regarding of Axmin owned 20% interest in the Sounkouko and Heremokono explorations permits, on June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After these Royalty Elections, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. Axmin’s royalty rights are intended to continue and survive the Joint Venture Agreement and remain tied to the permits themselves, irrespective of title holder. Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit. The total royalty income for the nine months ended September 30, 2017 was $970,855 (2016 - $855,098). 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 www.sedar.com.

    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. In 2016, the Company incurred $1,000,000 for the extension of the licenses of BAMBARI 1 and 2, which is included in accounts payable and accrued liabilities in consolidated statements of financial position as of September 30, 2017. 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, 2017, given that impairment was recognized and the unstable condition remains the same, the residual value of E&E assets for the Passendro gold project was written down to $nil. This impairment recognized in the financial statements does not in any way mean that the Company is relinquishing its rights to the assets and it reflects the utmost conservative view by management on the objective circumstances and will be reviewed annually and subject to recovery when certain conditions are met pursuant to the accounting standards the Company has adopted.

    Senegal Joint Venture

    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. Under the terms of the Agreement, AXMIN had a free-carried interest of $2.5 million, with respect to the Project work costs starting from October 1, 2011, after which both parties are to jointly fund the Project work costs on a pro-rata basis. As of September 30, 2017, the free-carried interest balance was $nil.

    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.

    On June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After this Royalty Election, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. The free carried interest of US$2.5 million granted to AXMIN under the Agreement has been depleted on account of its 20% Participation Interest in respect of all Participation Target Areas (being areas subject to exploration and both parties remain their respective interests (Teranga – 80% and AXMIN – 20%)). No further participation contribution needs to be made by AXMIN beyond this $2.5 million free carried interest with respect to the Participation Target Areas where a Royalty Election has been made. Full details of the exploration programs at the Senegal JV can be found on the Teranga website at www.terangagold.com.

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    https://www.journalducameroun.com/en...ning-industry/

    The World Bank has approved a CFAF5 billion loan for the Central African Republic to improve the management of its natural resources.Under the terms of the loan agreement signed in Bangui on Saturday by CAR’s minister of Planning and Economy, Felix Moloua, and the World Bank’s country representative, Robert Bougeaoud, will for the next three years, build the capacity of the mining sector staff.

    It will also give the country a new mining code which will attract more investors. CAR’s main natural resources are gold and diamonds in addition to other untapped mineral endowments.

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    TGZ Renew's Axmin Inc. Land Package In Senegal. On Page 24 of TGZ.T Annual Information.

    Regional Land Package (RLP)

    On March 2, 2018, Teranga’s wholly-owned subsidiary executed two (2) mining conventions with the Ministry of Mines
    which will govern the terms of two (2) new exploration permits which are expected to be issued in due course. These
    new exploration permits, Bransan and Sounkounkou, will comprise the RLP and will have an initial term of four (4)
    years.

    As background, over the course of 2016 and 2017, the prior 8 permits that comprised the RLP expired, and in advance
    of that the Company worked in collaboration with the Senegalese Ministry of Mines to reduce our overall exploration
    land package while at the same time filing applications for two new permits that would comprise approximately 2/3 of
    the previous RLP that covered nearly 1,000km2.

    All exploration permits are granted by ministerial decree and are subject to a mining convention signed between SMC
    and the government of Senegal. The gold exploration permits are held in a combination of full SMC ownership and
    earn-in joint ventures where SMC is the funding and managing party as outlined in below.

    Given the Sabodala Mining Convention signed with the government of Senegal on April 7, 2015 and its provisions
    extending to SMC exploration permits, it is anticipated that permits that move into production will be merged into this
    mining convention and be bound by its revised fiscal terms regarding royalty rate and tax exoneration periods.
    Summary of Joint-Venture Agreements in Place over SMC's Exploration Permits

    There are currently two joint venture agreements over SMC’s exploration permits:
    • Axmin Joint Venture – covers the areas under the former Sounkounkou and Heremakono permits to the extent
    they are included within portions of the new Sounkounkou permit.
    • Bransan Agreement – cover the areas under the former Bransan permit to the extent they are included within the
    new Bransan permit. Although the new Bransan permit will be fully held by SMC, there is a 30% ownership right
    assigned to a Senegalese company, Senegal Nominees Limited.

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    CAR: World Bank pledges 12.5b for economic reforms

    https://www.journalducameroun.com/en...nomic-reforms/

    The World Bank will support the Central African Republic (CAR) with 12.5 billion CFA francs to boost economic reforms in the country, the Ministry of Economy and Planning announced Monday.A Ministry of the Economy press release said the Bank’s aid is part of the project to support state consolidation.

    The project aims to restore fiscal management and transparency by increasing tax revenue, improving wage management, reducing the use of extraordinary budgetary procedures and strengthening budget control.

    Among its objectives is the establishment of a post-transition pro-poor reform programme that can reinvigorate the drivers of economic growth, in key sectors and sub-sectors such as roads, agriculture and telecommunications.

    These reforms can contribute to improving the living conditions of the poorest populations, which represent 40 percent of the distribution of social assistance in the CAR.

    These economic reforms are contained in the Recovery and Peacebuilding Plan (RCPCA) that the government presented to its partners in 2016 during its donors’ roundtable in Brussels, Belgium, to receive financial support.

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    A new high hit today as the CAR deposit gets optimism from the government. Also, results will be out between now and next week and the Senegal Royalty from TGZ.T will be updated in the financials. See today's article:

    https://www.businesslive.co.za/bd/wo...e-disarmament/

    Central African Republic’s president tells UN he wants to accelerate disarmament

    New York — The Central African Republic’s president, Faustin-Archange Touadera, told the UN on Monday that he wants to "accelerate" the disarmament, demobilisation and reintegration of members of armed groups.

    "I have instructed my government to work toward reducing the harm and threat of armed groups in the Central African Republic, by accelerating the implementation of the disarmament, reintegration and repatriation program," he said at a meeting concerning the peace process in his country.

    Such an operation would require "necessary reforms of the security sector for the reconstitution of national defence forces and interior security forces," Touadera said.

    His comments come as the Popular Front for the Rebirth of Central Africa (FPRC), one of the country’s main armed groups, threatened to march on Bangui.

    The group said it wanted to act following a UN peacekeeper operation against militia in the volatile PK5 Muslim enclave of the capital.

    Touadera urged "dialogue" as the preferred approach to combat the violence that has ravaged his country since 2013.

    He stressed that "consolidation of peace … can only be achieved through the restoration of security throughout the territory, the fight against impunity, [and] the restoration of state authority throughout the territory".

    Morocco’s UN envoy Omar Hilale, who initiated Monday’s meeting, assured the Central African Republic of the UN’s "support" and said he would soon travel to Bangui.

    The country’s authorities control only a small part of the national territory, with a number of armed groups fighting over control of diamonds, gold and livestock in one of the world’s poorest countries.

    AFP

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    Things are progressing positively in CAR. More support means AXM will get their claim back sooner than later. In the meantime Senegal will keep adding cash to the books while we wait.

    1) Ivory Coast to send 450 peacekeepers to C. Africa

    https://www.independent.co.ug/ivory-...s-to-c-africa/

    2) Video: The UN Security Council members are focusing their attention on Africa

    https://www.youtube.com/watch?v=FiW5...ature=youtu.be

    3) The CAR Humanitarian Fund releases $ 11 Million to Support Humanitarian Response

    https://reliefweb.int/report/central...t-humanitarian

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    There is a major undervaluation in the resource estimate from the Gora deposit in Senegal. Teranga Gold(TGZ) has said on their website and in previous MD&A reports that only 140,000 ounces of Gold exist. However, Axmin clearly states on their website that Gora has just under 400,000 ounces of Gold. Now if we break this down, Gora has much more life ahead of it and here are the numbers to prove it.



    Note – Gora did not start production until Q4 2015.



    TGZ Gora Estimate – 140,000 Ounces Proven + Probable

    AXM Gora Estimate – 395,000 Ounces Proven + Probable



    2015
    Ounces Mined: 22,814
    Royalty Paid To Axmin: $300K USD



    2016

    Ounces Mined: 67,948

    Royalty Paid To Axmin: $1M USD



    2017

    Ounces Mined: 115,398 – 60,587 coming from Q4 2017, major increase in production
    Royalty Paid To Axmin: $1.6M USD



    Total ounces mined: 206,160 (from 2015 to 2017)



    So that has already exceeded TGZ’s estimate by 60,000 ounces. However, that is only over half of what Axmin has stated. As well, keep in mind that TGZ mined the most gold out of Gora in the most recent quarter, how is that possible if the resource is ending? Someone must of made a huge mistake on the Teranga side. On top of this, there are three other adjacent claims that could very well go into production soon (Honey, Jam, Cinnamon) as these are 1-2km’s away from Gora and results were similar or better from the 70,000m of drilling, bulk sampling and other tests performed.



    Sources:


    http://www.axmininc.com/Senegal.php



    The Gora deposit, located on the Sounkounkou licence, has a proven and probable reserve, based on a US$1,500 gold price, of 2.1 Mt grading 4.22 g/t Au containing 285,000 ounces. The Measured and Indicated Resource at Gora has increased to 374,000 ounces of gold at 5.0 g/t Au and an Inferred resource of 20,000 ounces grading 3.4 g/t Au.



    Note - This was last updated in 2012, so the resource could easily have increased since then with more exploration.



    http://www.terangagold.com/English/i...e/default.aspx



    Financials on Sedar for TGZ show all the sales from Gora and royalties paid.

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

    Price: $0.085
    Common Shares: 130,497,381
    Options: 8,240,000
    Insider/Institutional Holdings: 82,089,114 – 63%

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

    ASSETS($USD)
    Cash: $1,115,331 (2016 - $270,238)
    Receivables: $610,477 (2016 - $133,799)
    Prepaid Expenses: $12,934 (2016 - $12,084)
    Total Assets: $1,738,742 (2016 - $516,121)

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

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

    2017 Net Income Converted Into Earnings

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

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

    MD&A Highlights

    Operations

    Central African Republic – Passendro Gold Project

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

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

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

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

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

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

    Senegal Joint Venture

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

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

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

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

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

    Results of Financial

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

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

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

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

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

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

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

    Decreased in expenses of $957,219 in the fourth quarter of 2017 compared with the same period of 2016. The decrease in expenses was primarily due to the $1,000,000 in project costs related to consulting fee for the extension of Licences of BAMBARI 1 and 2 incurred in 2016, which was not incurred in the same fiscal year of 2017. The decrease in other income was primarily due to the decrease in loss on foreign exchange.

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    TGZ Q1 results are out, shows them paying axmin $500,000 USD in royalties. This is low considering they mined 58,400 ounces and AXM gets 1.5% of that. But if you look at the Teranga Gold presentation released today, it clearly says that only 22,500 ounces were actually sold. So again there is more back pay to Axmin. Nice thing is that G&A costs for AXM is between $80-100K per quarter, so it should be a $400K net income quarter for Q1 2018. The actual results will be out end of May.

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    Axmin Inc(AXM.V) Royalty Payment History(2015-2018)
    All In USD. Numbers Can Be Found On Sedar.

    Q3 2015
    Gold Ounces Mined At Gora: 2,414 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $0 – Delayed payment as TGZ needs to sell gold
    Cash: $136,274
    Receivables: $0 – No receivables until TGZ sells gold
    Total Assets: $143,189
    Total Liabilities: $2,570,565

    Q4 2015 – First Quarter Of Gora Payments
    Gold Ounces Mined At Gora: 20,401 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $252,721
    Cash: $ 14,039
    Receivables: $258,939
    Total Assets: $347,504
    Total Liabilities: $2,520,590

    Q1 2016
    Gold Ounces Mined At Gora: 27,560 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $457,259
    Cash: $203,850
    Receivables: $465,098
    Total Assets: $717,454
    Total Liabilities: $2,548,366

    Q2 2016
    Gold Ounces Mined At Gora: 14,517 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $232,045
    Cash: $188,321
    Receivables: $235,427
    Total Assets: $426,091
    Total Liabilities:$2,111,294 – Portion of cash used for liabilities

    Q3 2016
    Gold Ounces Mined At Gora: 8,570 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $165,794
    Cash: $299,540
    Receivables: $172,008
    Total Assets: $473,972
    Total Liabilities: $2,081,329

    Q4 2016
    Gold Ounces Mined At Gora: 17,301 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $125,282
    Cash: $370,238
    Recivables: $12,084
    Total Assets: $516,121 - $1 million paid from Bambari license Until March 2019
    Total Liabilities: $2,952,285

    Q1 2017
    Gold Ounces Mined At Gora: 22,286 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $310,684
    Cash: $436,764
    Receivables: $320,874
    Total Assets: $766,439
    Total Liabilities: $2,988,656

    Q2 2017
    Gold Ounces Mined At Gora: 21,402 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $386,655
    Cash: $713,569
    Receivables: $390,276
    Total Assets: $1,109,413
    Total Liabilities: $3,010,128

    Q3 2017
    Gold Ounces Mined At Gora: 11,123 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $273,516
    Cash: $1,088,948
    Receivables: $278,321
    Total Assets: $1,369,453
    Total Liabilities: $3,027,594

    Q4 2017
    Gold Ounces Mined At Gora: 60,587 – From TGZ MD&A
    Royalty Income(1.5% Of Gora Sales): $614,723
    Cash: $1,115,331
    Receivables: $610,477
    Total Assets: $1,738,742
    Total Liabilities: $2,954,279

    * Despite record production at Gora, the royalty income was only double the prior quarter despite having 5.5 times the amount of gold mined. This is again delayed due to TGZ being able to safely sell the gold and get paid from it.

    Q1 2018 – Estimate From Teranga Gold Payment Announced May 3rd
    Gold Ounces Mined At Gora: 58,384 – From TGZ MD&A
    Royalty Income From TGZ MD&A (1.5% Of Gora Sales): $500,000 as per TGZ financial results.

    Teranga Gold May 2018 corporate presentation clearly states on page 18 that 22,500 ounces are to be sold to Franco Nevada. Well this is only a fraction of what was produced which again confirms that payments to Axmin are deferred to upcoming quarters which should be reflected in the receivables.

    118,971 ounces of gold were mined between Q4 2017 and Q1 2018 at Gora. Lets use basic gold numbers such as $1,300 per ounce(lower than the last 6 months) and see what we should be getting:

    118,971 ounces X $1,300 gold price = $154,662,300 (if all gold was sold)

    $154,662,300 X 0.015% (Axmin royalty) = $2,319,935. Keep in mind that gold is higher than $1,300 so the royalty should be a bit more

    What was paid in Q4 2017 and announced for Q1 2018: $614,723 + $500,000 = $1,114,723

    So Axmin is still owed a lot more money and this will likely be paid between Q2-Q4 this year.

  11. #11
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    Axmin earns $1.2-million (U.S.) in 2017

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


    Ms. Lucy Yan reports

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

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

    2017 Highlights

    Financial:

    -Revenue of $1.6 million (2016: $1 million);
    -Net Income of $1.2 million (2016: loss of $0.25 million);
    -Cash balance of $1.1 million (2016: $0.4 million);
    Operational:

    -Revenue from NSR royalty with Teranga Gold Corporation ("Teranga") for the Gora Deposit has grown from $1 million in 2016 to $1.6 million in 2017. For the avoidance of doubt, at the moment only the Gora Deposit contributed the NSR royalty revenue of $1.6 million for the year 2017 to AXMIN.
    -AXMIN staff are in discussions with Teranga regarding progress on developing other properties in which AXMIN has an interest.
    -AXMIN holds an additional 16 target areas in conjunction with Teranga subject to future development with no further capital participation contribution required from AXMIN.
    Central African Republic ("CAR")

    -AXMIN is delighted to confirm that, on March 26, 2018, the Minister of Mining and Geology in the CAR issued an executive order No 073/18/MMG/DIRCAB/DGM ("Executive Order") to grant Somio Toungou an extension of the period of exemption from development and exploration under the Mining License for one (1) year, running from March 22, 2018 to March 21, 2019, relating to the Passendro Gold Project.
    -By the Executive Order, Aurafrique also was granted a one (1) year extension, running from March 22, 2018 to March 21, 2019, of an exemption from exploration and research work on the Bambari 1 and 2 Exploration Permits.
    -The situation in the CAR remains difficult, but AXMIN's in-country representative Mr. Boubacar Sidibe has recently visited Bambari and has met with the district commissioner, Prefect of Ouaka, Vice Mayor of Bambari, head of MINUSCA at Bakala, and representatives of the illegal miners who were at one time active on the Passendro Gold Project site. AXMIN is maintaining excellent relations at the regional level as well as at the central government level.
    -AXMIN regrets the instability that has plagued the CAR but is confident that stability will return under the stewardship of the current government and looks forward to working with all stakeholders to develop a safe, rapid and profitable mining operation on the Company's mineral properties in the CAR.
    Commenting on the 2017 annual results, Ms. Lucy Yan, AXMIN's Chairman, said: "During the past year of my tenure as Chairman, we are starting to see some positive developments in the CAR. We believe that the duly elected government working with MINUSCA will in time bring stability to the country and specifically to the region around Ndassima where our main asset is located. We have been in close communication with the senior ministers and officials of the governments both in Bangui and locally in Bambari and look forward to the time when we can reclaim the site to become operational again."

    The Counsellor to the CAR President for Disarmament, Demobilization, Reinsertion and Repatriation ("DDRR") , Colonel Noel Bienvenu Selesson, wrote to AXMIN, "We thank you not only for the efforts made by your Company but also for the reaffirmation of its commitment and its determination to go to the operation. The DDRR process is evolving. After the successful completion of the DDRR/RSS Pilot project that ended on December 19, 2017, we are very actively preparing for the launch of the large DDRR. The provisions in this framework, will allow your Company to resume fairly quickly all its activities in the area as well as in the rest of the country."

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

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

    This press release should be read in conjunction with the Company's audited annual financial statements for the year ended December 31, 2017, together with its management's discussion and analysis for the year ended December 31, 2017, both of which are available from the Company's website and on SEDAR at http://www.sedar.com/DisplayProfile....uerNo=00003164 .

    About AXMIN

    AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. AXMIN is positioned to grow in value as it progresses its Passendro Gold Project towards development and builds on its project pipeline focusing on transitioning from an explorer to producer. For more information regarding AXMIN, visit our website at www.axmininc.com .

    We seek Safe Harbor.

    © 2018 Canjex Publishing Ltd. All rights reserved.

  12. #12
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    This article came out May 7th 2018(as per their website) and clearly shows more proof of improvemnt in the Central African Republic.

    Why is this important? Because it adds stability, security and confidence throughout CAR, and also means that the support given by the CAR government, UN, AU, MINUSA, to Axmin is legit and there should be no reason why we can't get back to the Passendro claim later this year.

    https://www.afdb.org/en/documents/do...report-101679/

    AFRICAN DEVELOPMENT BANK GROUP

    CENTRAL AFRICAN REPUBLIC

    SUPPLEMENTARY GRANT TO THE SUPPORT PROGRAMME FOR
    RECONSTRUCTION OF GRASSROOTS COMMUNITIES-PHASE 1

    General Overview: The Support Programme for Reconstruction of Grassroots Communities –
    Phase 1 (PARCB-1) was designed for implementation in several phases and in various areas of
    the Central African Republic, as their security conditions improve. PARCB-1, which covers
    mainly the city of Bangui and its environs, was approved on 24 June 2015 to the tune of UA 15
    million. The programme’s completion is set for 31 December 2019. PARCB-1’s mid-term
    evaluation (end 2017) showed that it has yielded significant results that can contribute quickly to
    reducing fragility and strengthening resilience in the project impact area.

    While waiting for a second complete phase of PARCB, it was essential to consolidate and
    strengthen the mid-term achievements of the first phase by replicating them in another locality, in
    this case the city of Bambari (situated 385 km from Bangui), with regard particularly to the
    component on “sustainable socio-professional reintegration of unemployed and out-of-school
    youths”. Indeed, in accordance with CAR’s 2017-2021 National Peace Recovery and
    Consolidation Plan (RCPCA), Bambari is currently a pilot area for reducing the spatial exclusion
    affecting the hinterland. An investment plan on Bambari was adopted with the support of partners,
    and international (MINUSCA) and national forces were deployed there to facilitate the
    implementation of activities.


    With an overall cost of UA 6.36 million, financing for the Supplementary Grant to PARCB-1,
    which is part of this initiative, will contribute to strengthening sustainable livelihoods and social
    cohesion for the direct benefit of a population of about 123,150 inhabitants in Bambari and its
    environs, including 52% of women and 61% of mostly unemployed and out-of-school youths.
    These efforts will supplement those already made by PARCB-1, which benefits 500,000 people
    directly and 1,528,985 people indirectly (representing 32% of the CAR population), including
    500,000 unemployed and out-of-school youths in Bangui and its environs.

    Needs Assessment: The Supplementary Grant, which covers needs in terms of
    construction/rehabilitation and equipping of grassroots socio-economic infrastructure in Bambari and
    its environs (notably National Pioneer Youth (JPN) centres, the cattle market, the slaughter area, the
    Teachers’ Training School (ENI), drinking water and sanitation infrastructure) for the benefit of the
    population and income-generating activities for women. For the city of Bangui and its environs, the
    Supplementary Grant will consolidate health- and food security-related actions, especially through
    the operationalization of the youth entrepreneurship promotion centre and the hemodialysis centre,
    and the development of a cattle market.

    Value Added for the Bank: The CAR Government and other partners consider PARCB as an
    excellent multi-sector programme model, which meets real needs for socio-economic recovery and
    peacebuilding. The Supplementary Grant to PARCB-1 seeks to consolidate PARCB-1’s
    achievements and duplicate its experience in Bambari, as part of the government initiative to support
    spatial reduction. This programme is consistent with the Bank’s High 5s (H-5s) and Ten-Year
    Strategy as well as the strategy to remedy fragility and strengthen resilience in Africa.

    Knowledge Building: The approaches and methods experimented through sustainable socioprofessional
    reintegration activities for unemployed and out-of-school youths, skills development in
    technical education and vocational training, women’s empowerment activities, and awarenessraising
    activities on social cohesion and change of attitudes in the programme, produced results and
    need to be replicated in other regions of the country. The programme will ensure knowledge
    ownership by beneficiaries through the participatory monitoring-evaluation system, which involves
    them in all phases of its implementation. The programme also has a Monitoring and Coordination
    Unit, a Steering Committee and a community consultation process.

  13. #13
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    Russia & IMF In Central African Republic

    How Russia Is Displacing the French in the Struggle for Influence in the Central African Republic

    https://jamestown.org/program/how-ru...ican-republic/

    IMF reaches agreement on fourth review of ECF for Central African Republic

    http://cpifinancial.net/news/post/45...rican-republic

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    https://content.usaa.com/mcontent/st...LD_FND0050.pdf

    Looks as if this fund has started accumulating Axmin Inc. shares. The cutoff was March 31st 2018 for Q1, but their Q2 should be out sometime this summer. Doesn't make sense for a fund with $550 million USD to only pick up 240,000 shares of a small cap. Their other holdings are between $100K to $20 million each, so I suspect more will be purchased. Keep in mind that AXM insiders currently own 85 of the 130.5 million common shares.

  15. #15
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    Based on the recent news from Axmin Inc, the government, UN, and other global support will help the company get this project back hopefully sometime this year. Right now AXM stock value is based solely on the royalty payment earnings multiple and has not given any value towards the CAR asset, or future Senegal royalty targets. Thus making AXM severly undervalued.

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

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

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

    Highlight of the 2011 FS is detailed below:

    Assumed Gold Price

    US$1,100/oz

    Assumed Oil Price

    US$80/bbl

    Mine Throughput

    2.8 mtpa

    Mine Life

    8.3 years

    Development & Construction

    24 months

    Strip Ratio

    5.4:1

    Average Annual Production years 1-3

    205,000 oz

    Average Annual Production (LOM)

    163,000 oz

    Initial Capital Costs (excluding contingency)

    US$246 million

    Total Cash Costs (including royalties) (LOM)

    US$484/oz

    Average Metallurgical Recovery

    94%

    Gravity Recovery

    30%

    IRR (after tax & royalties)

    32.1%

    NPV (after tax, 5% discount)

    US$340 million

    Operating Cash Flows

    US$493 million

    Payback Period

    2.2 years

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

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

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

    In May 2013, AXMIN's shareholders voted overwhelmingly in support of the Dickson Resources Change of Control, at which time the two-stage Offering closed and AXMIN issued a total of 45,000,000 Units for gross proceeds of approximately C$6.8 million. Under the terms of the Offering AXMIN announced the appointment of three Dickson Resources represetatives to the AXMIN Board.

  16. #16
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    Between Russia, MINUSCA(UN), CAR Government, and other powers in the Central African Republic, rebels will be dealt with sooner than later.

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

    President of Russia Vladimir Putin: Mr President,



    It is a pleasure to welcome you to St Petersburg.



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



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



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



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



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



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



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



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



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

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



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

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



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



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



    We have big expectations for potential economic and humanitarian exchanges. We will discuss ways of promoting our cooperation.

  17. #17
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    AXM.V Q1 2018 Results (Financials + MD&A) Ending March 31st 2018
    All information is available through Sedar. Numbers below are in US Dollars

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

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

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

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

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

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

    MD&A Highlights

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

    Operations

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

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

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

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

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

  18. #18
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    Two videos that came out this week from reliable news sources(BBC & France 24). CAR is getting a huge boost from Russia and in return the Russians will be working on getting mining/exploration going on in the Central African Republic. This is big news because once they make it safe enough for Russia to work in the country, then Axmin Inc. will also have this ability in the near future, thus adding tremendous value back to the stock( 3 million ounce gold deposit on a $15 million market cap company)

    BBC - http://www.bbc.com/news/av/world-afr...s-relationship

    France 24(Via Youtube) - https://www.youtube.com/watch?v=mGyv-YzQixk

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    https://sedar.com/DisplayCompanyDocu...uerNo=00003164

    This was important to put out for a few reasons:

    1) Shows that insiders still own over 80 of the 130.5 million common shares

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

    3) Options are being renewed and expanded.

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

    Most recent news: http://axmininc.com/PRmay07_2018.php

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

    https://nai500.com/

    AXM - https://nai500.com/client/0C00000JF1/

    About NAI - https://nai500.com/about-us/#faq-social-media

    www.nai500.com
    NAI Interactive Ltd. (NAI), established in 1998, is a leading market intelligence and investor relations service provider for fast growing public companies trading on the North American stock exchanges. Our goal is to serve as a bridge between public companies and Chinese investors, nurturing investor loyalty and form functional networks via our unique platform. Throughout the years, NAI has established itself as the most trusted firm in providing market insights to Chinese investors. We strive to provide a more powerful platform for companies and investors to connect with each other.

    The 3 Strengths of NAI500
    Extensive Experience in the Business
    With 15 years in the IR business, NAI excels in the field of investor relations and market intelligence. Our professional team is specialized in targeting companies and connecting promising opportunities with investors.
    Comprehensive Coverage of the Market
    NAI hunts for investment opportunities from the perspective of an investor. Our extensive experience in the industry has helped build a vast network and ensures our access to the best market information in quantity and quality.
    Precise Positioning
    Our expertise in aggregating and distributing information has made us one of the most trusted sources to obtain company updates and analyses that are most important and relevant to investors.

  21. #21
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    https://www.shephardmedia.com/news/l...ms-deliveries/

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    Most of the armoured vehicles and other weaponry will be used by special forces trained by Rwanda and certified by the EU training mission. Units of CAR's gendarmerie and police were trained by the UN police.

  22. #22
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    Axmin, Teranga receive exploration permits in Senegal

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


    Ms. Lucy Yan reports

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

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

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

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

    About Axmin Inc.

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

    We seek Safe Harbor.

    © 2018 Canjex Publishing Ltd. All rights reserved.

  23. #23
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    http://www.imf.org/en/News/Articles/...rican-republic

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

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

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

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

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

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

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

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

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



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

    IMF Communications Department
    MEDIA RELATIONS
    PRESS OFFICER: ISMAILA DIENG

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

  24. #24
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    Six recent articles on the Central African Republic:

    July 5th 2018 – Gabon Keeps 444 troops in CAR

    https://m.news24.com/Africa/News/gab...n-car-20180705

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

    https://www.unian.info/world/101773....ria-media.html

    Key Part:

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

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

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

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

    https://thehimalayantimes.com/nepal/...rs-from-nepal/

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

    http://plenglish.com/index.php?o=rn&...ges-progresses

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

    https://www.news24.com/Africa/News/n...court-20180626

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

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

  25. #25
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    Looks like Axmin Inc(AXM & AXMIF) isn't the only company waiting to get back to working in the Central African Republic. BanwaGold signed a deal end of May and their looking to start things up in Q4 2018 which is October-December 2018. This is a very good sign.

    http://www.banwagold.com/en/

    BANWAGOLD
    ROADMAP – STRATEGY
    Home
    Timeline
    ROADMAP – TIMELINE - CAR
    BanwaGold sells mining contracts to investors seeking to base their assets on gold production. To secure these contracts, BanwaGold signs agreements with small producers and mining cooperatives that produce a weekly amount of gold. This quantity will be multiplied by 4, by 10, then 25 thanks to the mining contracts signed by the investors. This is how we plan this ramp-up in the Central African Republic. This strategy will be implemented in parallel in other African countries.


    Q4 2018
    Installation of zone 1 and zone 2 exploration. Opening of the foundry Start of direct investment purchases
    Q2 2019
    Installation of zone 2 and zone 3. Sale of the first production of zone 1
    Q4 2019
    Installation of zone 3 worksites
    Q4 2020
    Industrialization of production
    Q4 2021
    Industrialization of production


    STRATEGY – 6 AFRICAN COUNTRIES
    BanwaGold sells mining contracts to investors seeking to base their assets on gold production. BanwaGold's mining contracts have two components: buying gold and producing gold. Purchase: The small producers and mining cooperatives with which BanwaGold signs agreements produce a weekly quantity of gold that is bought at the best market price. Production: Thanks to mining contracts sold by BanwaGold, small producers and mining cooperatives are able to develop exploration and exploitation processes.
    Purchases
    Via our foundry, acquisition of gold via $ 2.5 Million of direct investments and the reinvestment of 70% of the revenues of our production
    Production
    Via our local networks of mining cooperatives

  26. #26
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    United Nations Central African Republic Report(January to June 2018)

    This report is 132 pages in total. I have condensed everything with only details that are important and pertain to the stability of the Central African Republic and resumption of work by Axmin Inc.(AXM.V)

    https://reliefweb.int/sites/reliefwe...s/N1821863.pdf

    Page 2)
    Following relevant exemptions and notifications to the Security Council
    Committee established pursuant to resolution 2127 (2013) concerning the Central
    African Republic, the country’s security and armed forces received training and
    military equipment from the Russian Federation. Coupled with the support of other
    partners such as the European Union Military Training Mission in the Central African
    Republic, those efforts are facilitating the re-operationalization of FACA.

    Ex-Séléka factions, like other armed groups, have, however, maintained their
    engagement in the African Union Initiative for Peace and Reconciliation in the Central
    African Republic, under which consultations began in November 2017 and the
    conclusion of an agreement between the Government and the 14 recognized armed
    groups is planned in the coming months

    Page 7)
    The European Union Military Training Mission in the Central African Republic
    is currently finalizing the training of a third battalion of the Forces armées
    centrafricaines (FACA) in Bangui. All trained battalions are gradually being
    redeployed in Bangui and beyond (see para. 18 below). The Training Mission also
    supported the training of 232 demobilized members of armed groups integrated into
    the national army, which was completed on 11 May as part of the pilot project for
    disarmament, demobilization, reintegration and repatriation

    On 26 December 2017, the Committee received a notification from the Russian
    Federation regarding the training of Central African defence and security forces,
    involving 5 military and 170 civilian Russian instructors for a period of one year. The
    first and second training sessions for FACA and the Presidential Guard in the Sudan
    and Berengo (Lobaye Prefecture) conducted by Russian instructors were concluded
    on 31 March and 30 May 2018, respectively. The third training session commenced
    on 30 May in Berengo. The presence of instructors from the Russian Federation
    among the Presidential Guard, as observed by the Panel in Berengo on 31 March, was
    reported to be part of the training exercise. 2

    Russian instructors are currently deployed in Sibut and Bangassou in support of
    recent FACA deployments. They were also involved in escorting a convoy
    transporting materials for the construction of hospitals, which travelled from
    Am Dafok and through the towns of Birao, Ndélé, Kaga Bandoro, Bria and Bangui
    between 7 and 26 May 2018. Twenty-four instructors are currently ensuring the
    security of hospitals donated by the Russian Federation in Bria, and 20 are doing so
    in Ouadda

    In Bangui on 12 March 2018, national authorities, with the support of
    MINUSCA, started the training of the 500 candidates for the police and gendarmerie
    recruited throughout the country (see S/2017/1023, paras. 14–16).6

    Page 8)
    Since April 2018, Russian instructors have also started the training of 160 policemen
    and 50 gendarmes in Berengo as a precondition for assigning them weapons in view of their
    deployment.

    Between 26 January and 7 February 2018, nine aircraft arrived at M’Poko
    International Airport in Bangui to deliver weapons and ammunition as part of the
    military cooperation between the Government of the Russian Federation and the
    Government of the Central African Republic, and as allowed under an exemption by
    the Committee on 15 December 2017

    Page 10)
    The African Union Initiative for Peace and Reconciliation in the Central African
    Republic, which began its activities in November 2017, has achieved some traction
    towards meeting the objectives set out in its road map. Through meetings in Bangui
    and several rounds of field visits in the country (see annex 3.1), the African Union’s
    panel of facilitators documented grievances that now form the basis of discussion for
    the planned dialogue aimed at concluding a peace agreement between the Government
    and the 14 armed groups.

    In accordance with the timetable adopted under the African Union Initiative, a
    series of workshops and training seminars are being organized to prepare for the
    upcoming dialogue and build the capacity of the main stakeholders, including the
    panel of facilitators, the Government, the 14 armed groups and civil society.

    In parallel with the African Union Initiative, mediation efforts are also being
    undertaken at the local level, including by MINUSCA, the national authorities and
    religious leaders. Those initiatives are aimed at establishing a favourable environment
    that addresses local conflict dynamics, involving various actors (armed groups, local
    authorities, civil society and religious groups) and taking various formal or informal
    forms.

    Page 11)
    The Government is also engaging with armed groups through the President’s
    national security adviser, a Russian national appointed as part of the cooperation
    between the Governments of the Central African Republic and the Russian
    Federation, who met on several occasions with leaders of armed groups to discuss
    questions related to, among other things, disarmament, demobilization and
    reintegration, national reconciliation and the sharing of revenues from the
    exploitation of natural resources among local and national authorities.

    Most armed group leaders continue to express support for the African Union
    Initiative.

    Page 13)
    In an attempt to address various illicit cross-border activities, the Government
    of the Central African Republic has engaged neighbouring countries with a view to
    signing bilateral and trilateral agreements establishing commissions on cross-border
    issues. From 2 to 4 September 2017, a tripartite meeting was held in Kinshasa
    among the Governments of the Central African Republic, the Democratic Republic of
    the Congo and South Sudan. Those in attendance recommended the creation of a
    special mixed commission in charge of political, diplomatic, defence and security
    matters pertaining to the three countries

    It is also planned that trilateral commissions will be established among the
    Central African Republic, Chad and the Sudan as well as among the Central African
    Republic, Cameroon and Chad. In addition, it is envisaged that bilateral commissions
    will be put in place between the Central African Republic and Cameroon and between
    the Central African Republic and Chad, as well as between the Central African
    Republic and the Sudan

    Page 18) *Note* - UPC is main group around Passendro/Ndassima
    Still, UPC wants to appear to be a reasonable partner for the Government and
    the international community. For example, although it was involved in violent clashes
    with FACA soldiers in Bambari on 10 June, UPC finally agreed to let the FACA
    convoy reach Bangassou (see para. 19 above). That decision triggered negative
    reactions from other ex-Séléka factions as well as within UPC.61 The rejection of any
    FACA deployment prior to the conclusion of a global agreement is a position common
    to all ex-Séléka factions (see para. 39 above).

    Page 23)
    Since early 2016, a number of foreign operators have obtained permits to exploit
    diamond and gold sites in the Central African Republic in a semi-mechanical or
    industrial manner. Such investments provide tax revenues to the State. At the same
    time, in areas with limited State authority, activities of all economic operators may
    generate revenue for armed groups through racketeering, illegal taxation or possibly,
    as was the case in 2016 with the private security company FIT Protection (see
    S/2016/694, paras. 85–89), direct arrangements between companies and armed groups.

    Page 30)
    Additional information on the training of FACA by the European Union Training
    Mission in the Central African Republic (EUTM)
    Since September 2016, EUTM has trained a total of 3,000 FACA soldiers:
    - Qualifying courses for 344 FACA officers (i.e. 38% of the total officers) and 544
    non-commissioned officers (i.e. 26% non-commissioned officers);
    - Training for 1,600 FACA soldiers (a total of three battalions, the last battalion
    finishes training in early August 2018);
    - Training of 232 FACA soldiers as part of the pilot project for disarmament,
    demobilization, reintegration and repatriation;
    - The validation of the training of 344 FACA soldiers organized in Rwanda and
    Equatorial Guinea.

    Additional information on the training of FACA by instructors from the
    Russian Federation
    The first training of personnel of the CAR national defence and security forces by the
    military (5) and civilian (170) instructors of the Russian Federation, as notified to the
    Committee on 26 December 2017, was concluded on 31 March 2018. The training took
    place in the CAR and in the Sudan. During an official ceremony at the training site on 31
    March 2018 in Berengo, 65 km southwest of Bangui, 202 FACA soldiers and Presidential
    Guards demonstrated some of the operational skills acquired during their training.1 Few
    days earlier, on 26 March, most of the National defence and security forces trained in the
    Sudan flew back to the Central African Republic.

    The second training of 200 FACA soldiers and 54 Presidential Guards was conducted in
    Berengo between 30 March and 30 May 2018. The third training of 400 FACA soldiers and
    62 Presidential Guards started in Berengo on 30 May 2018. This brings the total of FACA
    soldiers and Presidential Guards trained by Russian instructors to approximately 900.

    Page 45)
    After a turbulent year (S/2017/1023, paras. 74-91), the security situation in
    Bangassou has improved. Three recent events have created a window of opportunity
    in town: the signature of a local peace agreement (see below); the arrest of the selfdefence
    leader Crépin Wakanam, alias “Pino Pino”; and the launch of a Community
    Violence Reduction (CVR) programme

    The return of relative stability in town has also been facilitated by the progressive
    disappearance of the most dangerous self-defence group leaders: “Ngadé” was killed
    in inter-group clashes in December 2017; “Bere-Bere” surrendered to MINUSCA in
    January 2018; and “Pino Pino” fled to the Democratic Republic of the Congo, where
    he was arrested together with 37 members of his group, on 16 May 2018

    The last factor contributing to the current stability in Bangassou town is the CVR
    program launched in May by MINUSCA for 700 beneficiaries. People included in
    the program receive a paid training for three months to learn a profession in exchange
    of handing over their weapons. To date, MINUSCA has collected almost 1,500
    weapons and is considering launching a second CVR phase in August 2018

    Most of the information between Pages 46 to 117 are images, maps, and unrelated details

    Page 118)
    Use of anti-balaka fighters, ISF and FACA elements as security
    providers for economic operators.

    To operate in the CAR, especially in the provinces, economic operators, including mining
    companies, need to take measures to ensure their security. Some mining companies or
    cooperatives employ private security companies. As mentioned in the 2017 Panel’s final
    report (S/2017/1023, para. 235), one such private security company operating in SossoNakombo
    was employing former anti-balaka soldiers

    Other mining companies reportedly directly recruit anti-balaka or former anti-balaka
    fighters. Anti-balaka leaders in Bouar and some local authorities told the Panel that the use
    of former anti-balaka combatants as security providers was common practice for mining
    companies operating in the Abba area.

    Some companies rather secure the provisioning of National defence and security forces
    through agreements with the Ministries of Defence and/or Interior. Such practices enable
    the companies to ensure their security without resorting to protection by armed groups; at
    the same time, they create additional tasks for FACA and ISF whose human resources and
    capabilities are limited. In Bouar, for instance, the FACA Deputy Commander told the
    Panel that more than a third of FACA deployed in the area were involved in the protection
    of mining companies

  27. #27
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    Axmin received $600K USD from Teranga Gold in Q2 2018 from royalty payments.

    From TGZ Financials(Page 10) Released Today: Includes royalties to Axmin Inc. on account of their 1.5 percent net smelter royalty on the Gora deposit. During the three and six months ended June 30, 2018, the Company incurred $0.6 million and $1.1 million, respectively, of Axmin royalties (2017: $0.4 million and $0.7 million, respectively).

  28. #28
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    Page 7 ( TGZ Q2 MD&A)
    Ore tonnes milled were marginally lower in the first half of 2018 compared with the first half of 2017 due primarily to lower mill throughput resulting from planned grinding circuit maintenance during the second quarter of 2018, including a planned rebuild of the secondary crusher as well as processing harder, high grade Gora ore.

    Page 13(TGZ Q2 Financials)
    As at June 30, 2018, there is $1.3 million in other current assets and $3.3 million in other non-current assets as advanced royalty payments to the Government of Senegal. In total, the Company had recorded $10.0 million related to the Oromin Joint Venture Group (“OJVG”) in 2014 and $4.2 million related to the Gora deposit in the first quarter of 2015. The advanced royalties are expensed to net profit based on actual production from the former OJVG and Gora deposits. During the three and six months ended June 30, 2018, the Company expensed $0.8 million and $1.7 million, respectively, as amortization of the OJVG and Gora advanced royalties (2017: $0.8 million and $1.5 million, respectively). The advanced royalty recorded within other current assets is based on the expected production from the OJVG and Gora deposits over the next year and the remaining balance is recorded within other non-current assets. Refer to note 16 for further details.

  29. #29
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    http://www.uawire.org/the-russian-jo...lm-gold-mines#

    The Russian journalists who died in Central African Republic (CAR), on the day of the assassination were attempting to arrange the filming of the gold mine, which the company established by Yevgeny Prigozhin supposedly plans to develop, the Dozhd television channel (also known as TV Rain) reported citing information from the Investigations Management Centre (IMC) for which journalists collected information about Russian military mercenaries.

    Before the murder, the journalists Orkhan Dzhemal, Alexander Rastorguyev and Kirill Radchenko went to meet the "fixer" – the UN employee based in the CAR, who was supposed to help them film the gold mines of Ndassima, said the IMC. The journalists were ambushed between the cities of Sibu and Kaga-Bandoro, away from their planned route. The IMC does not have any knowledge of why they deviated from their route.

    In mid-July, the Africa Intelligence news outlet reported that Russia had allegedly made an agreement with the government of the CAR for development of the Ndassima gold mine, in return promising to restore the order in the region, writes The Bell. According to the Africa Intelligence, Lobaye Invest which is established by M-Invest company, associated with the alleged sponsor of a Russian Wagner Private Military Company (PMC), Yevgeny Prigozhin, represents Russia's interests in the country. The PMC fighters, in line with the Lobaye Invest interests, are engaged in the transportation from Bangui and the protection of mining equipment . In particular, the Lobaye Invest employees control the recently renewed diamonds mining near Berengo, wrote the newspaper.

    The journalist, film director and camera operator arrived in the CAR planning to make a film about the activities of the Russian private military company (PMC), which media associates with businessman Yevgeny Prigozhin (Prigozhin himself denies the link with Wagner PMC). The official investigation version named the killing near the city of Sibu as a result of an armed robbery.

    For information on AXM Ndassima/Passendro claim: http://www.mineafrica.com/documents/5%20-%20Axmin.pdf

  30. #30
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    52 Week high reached today based on some encouraging news articles about stabilization in the Central African Republic and more support from other major countries:

    Central African Republic receives military vehicles from China and the US - https://thedefensepost.com/2018/08/0...cles-china-us/

    CAR militia disarmament begins in September - http://apanews.net/index.php/en/news...s-in-september

  31. #31
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    Very positive article below. With Russian/CAR ties growing and several rebel groups giving up arms next month, it's very likely that the country will stabilize and be fully under government control sooner than later. This gives Axmin Inc the opportunity to go back to their gold deposite which has 2.5 million ounces proven and 1.6 million inferred, not including their expansion claims. Keep in mind that they are still getting positive cash flow from their Senegal royalty with Teranga Gold and Q2 2018 results will be out by the end of August or sooner.

    https://www.reuters.com/article/us-r...-idUSKCN1L60R2

    Russia signs military deal with the Central African Republic: agencies
    Reuters Staff

    2 MIN READ

    MOSCOW (Reuters) - Russia and the Central African Republic (CAR) signed a military deal on Tuesday paving the way for Moscow to step up training of CAR’s armed forces, Russian news agencies reported.

    FILE PHOTO - Russian Defence Minister Sergei Shoigu and Foreign Minister Sergei Lavrov attend a meeting with Japanese Foreign Minister Taro Kono and Defense Minister Itsunori Onodera in Moscow, Russia July 31, 2018. REUTERS/Maxim Shemetov
    Russia’s growing military ties with CAR and its heightened interest in Africa were thrust into the spotlight last month when three Russian journalists were killed while investigating the alleged presence of Russian mercenaries there.

    The agreement was signed at a state arms exhibition near Moscow attended by the two countries’ defence ministers, Russian news agencies reported.

    Russia delivered light arms to the Central African Republic’s security forces earlier this year and said it had deployed 175 military and civilian instructors to train them.

    The RIA news agency cited Marie-Noelle Koyara, CAR’s defence minister, as saying the accord would spur the Russian military training effort.

    Koyara did not specify whether the training would take place in Russia, or in CAR with the help of Russian instructors.

  32. #32
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    AXM.V Q2 2018 Results (Financials + MD&A) Ending June 30th 2018
    All information is available through Sedar. Numbers below are in US Dollars

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

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

    LIABILITIES
    Accounts Payable: $2,376,429
    Due To Related Parties: $189,810
    Liabilities Of Discounted Operations: $323,103
    Total Liabilities: $2,889,342

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

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

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

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


    Management Discussion & Analysis

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

    Concentration of Share Ownership

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

    Central African Republic – Passendro Gold Project

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

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

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

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

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

    As of the date of this report, operations at Passendro remain suspended and although the Company continues to maintain a presence in the CAR (through its administrative office and permanently stationed employees in Bangui) and relationship with the State in the CAR, the Company is unable to predict when it will be able to resume its operations at Passendro for the foreseeable future, if at all. As a result, impairment in the amount of $37,346,576 was recognized at December 31, 2013 on exploration and evaluation (“E&E”) assets for the Bambari properties to reflect the decrease in their recoverable value as of result of the current unstable situation in CAR. As at June 30, 2018, given that impairment was recognized and the unstable condition remains the same, the residual value of E&E assets for the Passendro gold project was written down to $nil in 2016.

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

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

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

    Senegal Joint Venture

    On February 28, 2012, AXMIN and its joint venture partner and manager, Sabodala Mining Company SARL (“SMC”), a whollyowned subsidiary of Teranga Gold Corporation (“Teranga”) amended its 2008 joint venture agreement. At the time, Teranga had earned an 80% interest in the Sounkounkou, Heremokono and Sabodala NW explorations licenses (the “Project”) located in the Birimian belt of eastern Senegal, by spending US$6 million on exploration. AXMIN has retained a 20% interest in the Project. The amended joint venture and royalty agreement (the “Agreement”) supersedes and replaces the original joint venture agreement.

    On June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After this Royalty Election, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. The free carried interest of US$2.5 million granted to AXMIN under the Agreement has been depleted on account of its 20% Participation Interest in respect of all Participation Target Areas (being areas subject to exploration and both parties remain their respective interests (Teranga – 80% and AXMIN – 20%)). No further participation contribution needs to be made by AXMIN beyond this $2.5 million free carried interest with respect to the Participation Target Areas where a Royalty Election has been made.

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

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    2018-08-29 14:28 MT - News Release

    Ms. Lucy Yan reports

    AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE THREE MONTHS ENDING JUNE 30, 2018

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

    Highlights:

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

    LIQUIDITY AND CAPITAL RESOURCES

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

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

    OUTLOOK

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

    About Axmin

    Axmin is a Canadian exploration and development company with a strong focus on the African continent. Axmin continues to closely monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding Axmin visit our website at www.axmininc.com.

    Axmin is a Canadian exploration and development company with a strong focus on the African continent. Axmin continues to closely monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding Axmin visit our website at www.axmininc.com.

    We seek Safe Harbor.

    © 2018 Canjex Publishing Ltd. All rights reserved.


    NOTE:

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

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

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

    April To June 2018 - Axmin Inc. Earns $415,900 In Q2 2018

  34. #34
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    Seven articles that have come out in the last week showing major progress & support in the Central African Republic. The sooner stability returns, the faster AXM/AXMIF gets it's gold mine back with billions in proven gold as shown in the 43-101 and recent company presentation.

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

    https://jamestown.org/program/putin-...entral-africa/

    2) Russia, Sudan foster deal among Central African militia

    https://www.business-standard.com/ar...3000039_1.html

    3) Presidents of African nations hail cooperation

    http://www.ecns.cn/news/politics/201...n1873984.shtml

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

    https://www.sudantribune.com/spip.ph..._article=66181

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

    https://www.sightmagazine.com.au/fea...-more-involved

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

    https://intelligencebriefs.com/russi...military-deal/

    7) Rival Central African Republic militias agree demands in ‘positive’ African Union meeting

    https://thedefensepost.com/2018/08/3...african-union/

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    September 5th 2018 news below talks about the DDRR program starting. This was mentioned by Axmin Inc back in May, now it's finally happening with major support from numerous areas:

    Article link: https://www.urdupoint.com/en/world/d...or-425485.html

    AXM News In May With Highlight: https://www.marketwatch.com/press-re...lts-2018-05-07

    The Counsellor to the CAR President for Disarmament, Demobilization, Reinsertion and Repatriation ("DDRR") , Colonel Noel Bienvenu Selesson, wrote to AXMIN, "We thank you not only for the efforts made by your Company but also for the reaffirmation of its commitment and its determination to go to the operation. The DDRR process is evolving. After the successful completion of the DDRR/RSS Pilot project that ended on December 19, 2017, we are very actively preparing for the launch of the large DDRR. The provisions in this framework, will allow your Company to resume fairly quickly all its activities in the area as well as in the rest of the country."

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    China Pledges Support To Central African Republic

    Xi meets Central African Republic president - http://www.xinhuanet.com/english/201..._137449561.htm

    Senior CPC official meets Central African Republic president - http://www.xinhuanet.com/english/201..._137449711.htm

  38. #38
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    Some positive news for the Central African Republic(CAR) as the faster the country stabilizes, the faster AXM gets back to it's gold mine.

    https://www.imf.org/en/News/Articles...rican-republic

    IMF Staff Completes Visit to Central African Republic

    September 14, 2018

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



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



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



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



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



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

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


    [1] Central African Republic’s ECF-supported program was approved by the IMF Executive Board in July 2016. The ECF is a lending arrangement that provides sustained program engagement over the medium to long term in case of protracted balance of payments problems.

    IMF Communications Department
    MEDIA RELATIONS
    PRESS OFFICER: ISMAILA DIENG

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

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    https://www.thepeninsulaqatar.com/ar...cuss-relations

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

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



    That brings support now from Russia, China, USA, France, Sudan, Qatar, African Union, European Union, Local Forces(FACA) and the United Nations.

  40. #40
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    Three significant news articles have come out today which shows support for the Central African Republic on three different fronts:


    More than 1,000 Central African military personnel trained by Russia - https://thedefensepost.com/2018/09/1...onnel-trained/

    Central African Republic keen to attract Qatari investments - http://www.gulf-times.com/story/6065...ract-Qatari-in

    AU chief in CAR to boost peace efforts - https://www.journalducameroun.com/en...peace-efforts/


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

  41. #41
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    http://www.globaltimes.cn/content/1120902.shtml

    WGC’s China Chapter will boost gold sector: analysts

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

    With the establishment of the China Chapter, the current low market price for the metal is likely to increase at the end of this year or the beginning of next year, which will bring many opportunities for the WGC's new China chapter, according to Zhou.

  42. #42
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    African Union adopts Sudan’s initiative for peace in Central African Republic

    http://www.sudantribune.com/spip.php?article66341

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

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

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

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

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

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

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

    (ST)

  43. #43
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    new US fund buying AXM stock

    https://www.streetinsider.com/SEC+Fi.../14646037.html

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

    COMMON STOCKS (Continued)
    Electrical Components & Equipment 1.9%
    GrafTech International Ltd.(a) 747,714  $ 15,851,537
    Sunrun, Inc.*(a) 816,834 11,550,032
    27,401,569
    Fertilizers & Agricultural Chemicals 1.8%
    FMC Corp. 165,991 14,919,271
    Nutrien Ltd. (Canada) 209,940 11,380,847
    26,300,118
    Gold 5.6%
    Agnico Eagle Mines Ltd. (Canada) 460,417 19,282,264
    Alacer Gold Corp.*(a) 3,158,225 6,846,442
    Algold Resources Ltd. (Canada), 144A*(a) 43,790 3,114
    Axmin, Inc. (Canada)* 666,158 70,413
    Barrick Gold Corp. (Canada) 22,387 250,511
    Guyana Goldfields, Inc. (Canada)* 163,830 503,763
    Guyana Goldfields, Inc. (Canada), 144A* 2,654,213 8,161,473
    Kinross Gold Corp. (Canada)* 1,959,065 7,052,634
    Newmont Mining Corp. 541,196 19,851,069
    Randgold Resources Ltd. (United Kingdom), ADR(a) 249,526 18,427,495
    80,449,178
    Integrated Oil & Gas 5.0%
    Chevron Corp. 2,445 308,730
    Occidental Petroleum Corp. 6,460 542,188
    Royal Dutch Shell PLC (Netherlands)(Class A Stock) 809,712 27,750,785
    Suncor Energy, Inc. (Canada) 997,990 42,055,299
    70,657,002
    Oil & Gas Drilling 2.5%
    Independence Contract Drilling, Inc.* 1,722,043 6,939,833
    Patterson-UTI Energy, Inc. 1,245,774 21,427,313
    Rowan Cos. PLC(Class A Stock)* 486,895 7,050,240
    35,417,386
    Oil & Gas Equipment & Services 14.5%
    Baker Hughes a GE Co. 7,956 275,118
    Cactus, Inc.(Class A Stock)* 294,649 9,640,915
    Core Laboratories NV 140,081 15,705,882
    FTS International, Inc.* 522,628 6,271,536
    Last edited by StockDude; 10-01-2018 at 03:46 PM. Reason: typos

  44. #44
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    Looks as if the Central African Republic is starting to open up for tourism and business. Lots of changes over the last week since all the meetings between CAR officials, Russia, China, Sudan, African Union, United Nations, and other parties. Recently on Google there have been job postings for gold operations, travel Visa applications offered, and a map that shows just about all airplane terminals in the country safe and operational again. Keep in mind that Axmin Inc (AXM/AXMIF) has the only large scale gold mine in the country with a proven resource and ready to go back into production right away.

    See links below:

    CAR Job Posting 1: https://www.worldwide-rs.com/job/gen...r-jobid-j19864

    CAR Job Posting 2: https://www.worldwide-rs.com/job/met...t-jobid-j19270

    Visa Travel Offer For The Central African Republic: https://www.visahq.ca/central-african-republic/

    Operational Flight Routes In The Central African Republic: https://reliefweb.int/sites/reliefwe...20181003_0.pdf

    Trip Advisor Offering Flights To The CAR: https://www.tripadvisor.com/Flights-..._Airfares.html

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    https://www.youtube.com/watch?v=TPgw...ature=youtu.be

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

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

    TOPICS IN THIS INTERVIEW:

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

    02:32 Logic Behind Recent M&A Transactions

    05:05 What Types of Companies Are Fertile For Acquisition

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

    08:27 'Optionality' Deposits Are Something Much Different

    09:51 How Does M&A 'Trickle-Down' And Affect Sector?

  46. #46
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    Moscow to Establish Military Representation in CAR

    https://sputniknews.com/africa/20181...epresentation/

    1:23 09.10.2018(updated 01:38 09.10.2018)

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

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

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

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

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

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

    Since 2012, the CAR has been destabilized by the conflict between the Muslim armed group Seleka, Christian Anti-balaka militias and the government. In late August, Seleka and Anti-balaka signed a declaration of understanding after a Russia-brokered peace meeting in Khartoum.

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    CAR President To Speak At World Investment Forum (Oct.22-26)

    http://worldinvestmentforum.unctad.o...hange-toudera/

    http://worldinvestmentforum.unctad.o...age/about-wif/

    ABOUT THE WORLD INVESTMENT FORUM

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

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

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

    THE WORLD INVESTMENT FORUM 2018
    Organized under the overall theme Investing in Sustainable Development, the Forum will address global challenges for international investment in the new era of globalization and industrialization. Investment stakeholders will gather to brainstorm solution-oriented initiatives and build global partnerships to advance prosperity for all.

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

    Download the official UNCTAD Notification for the 2018 Forum here:

  48. #48
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    AXMIN Announces Settlement of Accounts Payable

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

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

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

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

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

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

    About AXMIN

    AXMIN is a Canadian exploration and development company with a strong focus on the African continent. AXMIN continues to closely monitor the political situation at its Feasibility Stage Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at www.axmininc.com.

    For additional information, please contact AXMIN Inc.:

    Lucy Yan
    Chairman and CEO
    ceo@axmininc.com
    AXMIN Inc.

    General Enquiries
    Jin Kuang
    Chief Financial Officer and Corporate Secretary
    j.kuang@axmininc.com
    604-339-7688

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

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    Axmin 3.46 million shares for debt

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


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

    Number of creditors: one creditor

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

    © 2018 Canjex Publishing Ltd. All rights reserved.

  50. #50
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    Article - France Urges EU To Help Stabilize The Central African Republic

    https://www.diplomatie.gouv.fr/en/fr...uncil-15-10-18

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

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    http://www.sudantribune.com/spip.php?article66426

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

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

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

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

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

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

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

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

    (ST)

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    Central African Republic: Council adopts conclusions

    https://www.consilium.europa.eu/en/p...s-conclusions/

    On 15 October 2018, the Council discussed and adopted conclusions on the Central African Republic.

    In its conclusions, the Council underlines that the situation in the Central African Republic (CAR) is still very fragile and that the EU remains engaged in support of the country. The EU emphasises the need to continue working, through its various instruments, to help the CAR get back on the road to stability, peace and development and to meet the aspirations of its entire population for lasting peace and reconciliation.

    The EU reiterates its support for the African Initiative for Peace and Reconciliation under the auspices of the African Union and the leadership of President Touadéra to reach a peace and reconciliation agreement, to create the conditions for the complete disarmament of armed groups and to strengthen State authority, while preserving the unity and integrity of the CAR.

    The EU also stresses the importance of inclusive involvement of all institutions and all actors of Central African society, including women, youth and civil society. The EU calls on all international actors, especially those engaged in the CAR, to support the action of the government and the African Initiative in a properly coordinated and fully transparent manner.

    The Council also welcomes the commitment of the United Nations Multidimensional Integrated Stabilisation Mission in CAR (MINUSCA), in particular to support the CAR authorities in carrying out the security sector reform process and to help them restore State authority.

    The Council emphasises that the security situation, including hybrid threats, confirms the need to continue to strengthen the Central African Armed Forces (FACA), and welcomes the request by the CAR for additional assistance for the Internal Security Forces, notably by means of civilian engagement. Ministers invited the EEAS to establish and deploy as soon as possible a civil-military interoperability pillar within EUTM RCA, tasked with providing strategic advice in this area.

    The EU remains concerned by the humanitarian situation in the CAR and emphasises the need for the international community to mobilise in response to the humanitarian emergency, and reiterates its own ongoing engagement through the Bêkou Trust Fund. The EU remains strongly committed to the CAR, with an envelope of EUR 487 million allocated for the period 2017-2020.

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