Results 1 to 22 of 22

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

  1. #1
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260

    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.

  2. #2
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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.

  3. #3
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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.

  4. #4
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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.

  5. #5
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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

  6. #6
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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

  7. #7
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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.

  8. #8
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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.

  9. #9
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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.

  10. #10
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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

  14. #14
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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

  19. #19
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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

  20. #20
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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
    Senior Member
    Join Date
    Apr 2015
    Location
    Canada
    Posts
    260
    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.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
About us
StockMarketsReview.com provides news coverage, analysis and researches for world stock markets, commodities and currencies. We publish articles provided by experts of leading brokerage and investment companies. At our website investors can find daily, weekly and monthly reports, news, recommendations on the IPOs and fundamental analysis for stocks which are currently traded at the stock exchange.