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AXM.V - Axmin Inc. (Gold)

Discussion in 'Canadian Stocks Message Boards' started by TheDude, Apr 4, 2018.

  1. TheDude

    TheDude Active Member

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    May 17th 2020 - MINUSCA To Secure Central Region Of CAR

    From Wikipedia: Ouaka is one of the 16 prefectures of the Central African Republic.[1][2] It borders the Democratic Republic of the Congo, covers an area of 49,900 km2, and has a population of 224,076 (2003 census), giving a population density of under 5 inhabitants/km2. The capital is Bambari.

    Note: This is the region where AXM's Passendro mine is located.

    https://minusca.unmissions.org/la-m...gkriuXUsk-jGH5Zsjr73MqOJnBiy3VbdLAQeldj1E7VvY

    May 17 2020

    MINUSCA LAUNCHES TWO NEW PROTECTION AND SECURITY OPERATIONS IN THE CENTRAL REGION OF CAR

    As part of its mandate to protect populations, the MINUSCA Force has just launched two major operations, namely Operation "Igana siriri" (Bringing Peace to Sango) in Ndélé (north-central Central African Republic) as well than in the Sibut-Grimari-Kouango triangle (Ouaka and Kemo prefectures), in order to deal with the security situation in these regions.

    The operation in Ndélé will be carried out jointly with the hundred FACA soldiers, who have just been deployed in the city, and aims to restore a safe and secure environment in and around the city, to ensure the protection of civilians and d '' assist in the establishment of security conditions allowing the immediate resumption of humanitarian activities intended for populations, especially those who have fled their homes. It also aims to create conditions conducive to a lasting political solution to the crisis in the prefecture of Bamingui-Bangoran, thereby contributing to the implementation of the Agreement for Peace and Reconciliation in the Central African Republic (APPR-RCA ) In the region. To this end, the workforce is reinforced, in particular with the deployment of a rapid intervention blue helmet unit dedicated to large-scale operations as well as the dispatch of a detachment of United Nations police officers capable of supporting the investigations initiated and of help maintain order in order to prevent any criminal act in the city. The operation in Ndélé is justified by the series of deliberate attacks against the civilian population by armed groups, to which the MINUSCA Force had to respond vigorously on April 29, to expel the attackers from the city.

    As for the operation in the Sibut-Grimari-Kouango triangle, the aim is to put an end to the illegal activities of the criminal group led by the so-called Ayoloma, to strengthen the protection of civilians and to ensure freedom of movement along the main axes and secondary in the Sibut-Grimari-Kouango area. The operation follows the atrocities committed by this group on the local population, including that of March 15, during which a Burundian peacekeeper fell in his mission to protect civilians.

    In addition to these two new operations, the MINUSCA Force is continuing Operation Kiri na Autorité (Restoring State Authority) launched on April 10 in western CAR, in order to curb the activities of armed groups which, during transhumance, illegally tax populations and contribute to insecurity. To this end, the Force's ultimatum in early May forced elements of the Return, Claim and Rehabilitation (3R) group to leave the village of Baboua (Nana-Mambéré) where they were trying to set up a base, in violation of the APPR-RCA. In addition, in Lobaye, the UN Forces control the area and monitor the transhumance routes in order to avoid any incident between nomadic and sedentary populations.

    Despite the context of COVID-19, MINUSCA reiterates its commitment to fully execute its mandate, including the protection of civilians and institutions, support for the implementation of the Peace Agreement and the creation of a secure environment conducive to the holding of the next elections. It continues to work closely with the Central African defense and security forces, as evidenced by the significant support recently provided by the MINUSCA Force and Police to the deployment of police and gendarmes to Ippy, Bria and Kaga-Bandoro, as well as FACA in Ndélé, regions where the Central African defense and security forces have been absent since 2012.
     
  2. TheDude

    TheDude Active Member

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    Axmin Inc Management’s Discussion and Analysis Year ended December 31, 2019

    This report is dated as of June 9, 2020. Readers are encouraged to read the Company’s other public filings, which can be viewed
    on the SEDAR website (www.sedar.com).

    Page 5:

    Throughout 2019, the Company continued to work closely with the Minister of Mining and Geology and other senior officials of theCentral African Republic. In December 2019, a site visit of the Passendro property was held at the invitation of the Minister ofMining and Geology with the Company’s management, the staff from the Company’s local subsidiaries, and local governmentofficials. During the site visit, Company committed to provide funding to assist the local government in purchasing school suppliesand repairing infrastructure. Due to the effect of COVID-19 in 2020, a final amount has not been agreed upon.

    In January 2020, the Company learned informally that the exploration and mining permits held by Aurafrique and Somio Toungou have been withdrawn. The Company has not, at the time of this report, received formal notice of any withdrawal. Later in January 2020, the Company was advised by the Minister of Mining and Geology of the Central African Republic to submit a formal request for legal review of the status of the Company’s assets in the CAR. As a result the Company engaged the local law firm, Cabinet Mboligoumba & Associes, to file the request for legal review with the Conseil d’Etat of the CAR. It should be noted that the entire balance of property, plant and equipment related to the Passendro Gold Asset were written off in the Consolidated Financial Statements for the years ended December 31, 2013 as a result of force majeure conditions in the CAR.

    In March 2020, the Company received an invitation by the office of the President of the Central African Republic. Due to the impact of COVID-19 on international travel, the meeting has been delayed.

    On April 7, 2020, the Counseil d’Etat ruled that while the government of the CAR does not have the authority to withdraw the Aurafrique and Somio Toungou permits, the Conseil d’Etat did not have the jurisdiction to overturn the withdrawal of the permits.

    On April 23, 2020, Cabinet Mboli-Goumba & Associes filed another proceeding before the Conseil d’Etat claiming the invalidity of the contested permits deemed granted to one or more companies while this proceedings were on-going. The Company has not received a ruling on this proceeding. The Company is continuing ongoing discussion with CAR government officials to reach a satisfactory resolution of this matter.

    As of the writing of this report, AXMIN continues to maintain operations in the Central African Republic, including its office, country manager, supporting staff and continues to be in contact with the local authorities.

    Page 6:

    Senegal Joint Venture

    In 2020, for the Sounkounkou permit, Teranga has indicated to the Company that it is expected to spend approximately US$1 M on exploring two BLEG (Bulk Leach Extractable Gold) anomalies, including the following planned activities:

    · +/- 3,000 soil samples
    · +/- 5,500 m of excavator trenching
    · +/- 3,500 m of RC / DD drilling

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

    In July 2019, AXMIN received through SMC, a tax notification from the Senegalese tax authorities. The Senegalese tax authorities considers that AXMIN, as a result of the royalties paid to it by SMC, is required to declare and pay corporate income tax in Senegal. In 2020, AXMIN obtained a tax opinion from the Senegal office of a major global accounting firm that the royalties received by AXMIN cannot be taken as revenues from the exploitation or concession of exploitation of mineral deposits located in Senegal, and therefore, AXMIN concludes that it is not liable for any taxes claimed by the Senegalese tax authorities.
     
  3. TheDude

    TheDude Active Member

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    While we wait for AXM's Q2 financial/MD&A results to come out shortly(unless it's delayed like last quarter), Teranga Gold filed a new 43-101 and it clearly shows in the maps on Sedar(link below) that they added 4 new targets on the JV claim with Axmin. Those four targets are 20% unless converted to a 1.5% NSR. We are also waiting for results from their drill program. This means AXM has 20 targets now, compared to 16(all 1.5% NSR).

    AXM should hopefully have an update on it's CAR legal case as well in the next MD&A

    TGZ Sedar link - https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00030562
     
    Onepoint272 likes this.
  4. TheDude

    TheDude Active Member

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    Q2 results came out last Friday and it looks like progress is being made on Passendro and the Bambari expansion leases, as per the MD&A highlight below. Also keep in mind that Axmin Inc has updated their website which is nice to see, so hoping for a new company presentation soon. Teranga Gold is drilling/sampling on our JV claim and we have 4 new targets, with a total of 20 now.

    Page 6 on the MD&A:

    On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.
     
    Onepoint272 likes this.
  5. TheDude

    TheDude Active Member

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    Here is an update on Senegal and CAR, with regards to Axmin's involvement.

    Senegal - As mentioned last time, Teranga Gold announced an updated mineral report. This report did show 4 new targets that AXM owns 20% interest in(Page 88 in the 43-101 from Teranga), unless convereted to a royalty. But on top of that, if you look closer at the report, there is still 50,000 ounces of gold left at Gora, which is a target that has already produced over 400,000 ounces of gold and paid Axmin millions in royalties(see Page 256 in the 43-101 from Teranga). So at $2,000 gold, this is another $1.5 million USD in revenue that Axmin still has to collect.

    CAR - Today an important article came out which shows the United States sanctioning Russian companies in the Central African Republic. This is important because the transaction that would of occured in regards to the sale of Passendro to Midas(Russian Company) can no longer occur. This puts Axmin in a stronger negotiating position with regards to getting back both the Passendro mine and expansion leases. Only Russia and China have worked in CAR for the last several years, making Axmin one of the only true feasible options of getting the gold mine in production.

    Link to new article: https://home.treasury.gov/news/press-releases/sm1133

    From the last MD&A: On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.
     
    Onepoint272 likes this.

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