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.
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.
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
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.
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.
Axmin Inc. November 12th 2020 Company Presentation - http://www.axmininc.com/images/AXMIN INC AGM PPT.pdf
Axmin Inc's JV Partner, Teranga Gold, To Be Acquired By Endeavour Mining Endeavour Mining to acquire rival Teranga Gold for $2.44 billion - Good to see this transaction happen. Teranga Gold has not been able to move fast enough in Senegal due to financial constraints. Now with the combined company, Endeavour can assist better in proving up the JV Sounkoukou claims with Axmin. https://www.bnnbloomberg.ca/endeavo...rival-teranga-gold-for-2-44-billion-1.1522918 Endeavour Mining Corp., the acquisitive gold producer backed by Egyptian billionaire Naguib Sawiris, agreed to buy Teranga Gold Corp. in the latest deal to reshape the sector. After Barrick Gold Corp. and Newmont Corp. two years ago created behemoths that dwarf the rest of the industry, other gold miners are trying to consolidate to remain relevant to shareholders. Helped by record gold prices, that’s led to a flurry of deals across the sector as smaller producers beef up their scale. Endeavour said last week it was discussing a “merger of equals style” deal with Teranga after the talks were first reported by Bloomberg. Endeavour is offering 5.1 per cent premium to Teranga’s closing price on Friday, valuing its equity at C$2.44 billion (US$1.86 billion), according to Bloomberg calculations. The combined company will produce about 1.5 million ounces of gold a year across West Africa, making it one of the 10 largest producers. It also plans to seek a listing on the London Stock Exchange, a long-term goal of Endeavour Chief Executive Officer Sebastien de Montessus. London has become a go-to destination for gold-miners in the past year as companies seek to fill the gap left by Randgold Resources Ltd., a former investor favorite that delisted when it was bought by Barrick in a deal that set the tone for low or zero premium combinations in the industry. Since Randgold left, Yamana Gold Inc. and Wheaton Precious Metals Corp. have both secured listings in London, though unlike Endeavour they have not sought premium listings that make them eligible for the FTSE 100 index. “The combined entity will become a new senior gold producer and enjoy an improved capital markets profile, underpinned by a healthy balance sheet and strong cash flow capabilities to support a sustainable dividend,” de Montessus said in Monday’s statement. Endeavour is offering 0.47 of its own shares per Teranga share. That means existing Endeavour and Teranga shareholders will own approximately 66 per cent and 34 per cent, respectively, of the combined company. La Mancha, the vehicle which Sawiris holds his stake in Endeavour, will invest a further US$200 million into the combined company, leaving it with a 19 per cent stake. Teranga’s biggest shareholders, including Barrick, support the deal. A successful deal would extend a years-long transformation by Endeavour, which has replaced high-cost mines with two new flagship projects that produce more gold and will operate for much longer. Teranga has assets in Senegal, Burkina Faso and Ivory Coast, including the Massawa project it bought from Barrick. The deal is expected to close in the first quarter of 2021.
Axmin Q3 Results Out. Two Updates From The MD&A: Page 5: The Company has been advised that Presidential and legislative elections will be held simultaneously onDecember 26, 2020, with results to be officially announced one week after the elections. OnNovember 2, 2020, the Company has received notice from Central African State to confirm in participating in the mediation process with the company’s subsidiaries AURAFRIQUE SARL SOMIO TOUNGOU SA. Mediation between the Company and the Central African State is progressing and practical arrangements are being made to resolve the difficulties within a short period of time. The date will be further confirmed from the arbitral chamber. The Company has received notice that the Central African State will be represented by Flavien Mbata, Minister of Justice and Human Rights, and Léopold Mboli Fatran, Minister of Mines and Geology in the arbitration. Page 7: On November 16, 2020, Endeavour Mining Corporation (TSX:EDV) and Teranga announced that they have entered into a definitive agreement whereby Endeavour will acquire all of the issued and outstanding securities of Teranga. In their joint press release, the companies stated that the combination would “leverage Endeavour’s West African operating model to extract significant financing, operating and capital synergies across all of Teranga’s assets [including] Sabodala-Massawa, in Senegal, to become a flagship asset alongside Ity and Houndé with the potential to become a top tier asset given its high grade, low cost, long mine life, large reserves and significant exploration potential.” The Company is in discussions with Teranga regarding the 5 proposed targets within Bransan Lot C on whether the Company will participate in the exploration, which will include funding 20% of proposed work costs, or elect to convert to a 1.5% net smelter royalty.
This article came out June 8th 2021 via African Intelligence, the same site that first reported Axmin losing their mineral rights in 2020. Therefore the credibility of this website's intel has legitimacy. Below is the paid link, and also the free link, which has been translated from French to English: https://www.africaintelligence.com/...th-axmin-over-ndassima-goldmine,109671815-art https://corbeaunews-centrafrique.co...n-compromis-avec-la-societe-canadienne-axmin/ Ndassima gold mine: Touadéra seeks a compromise with the Canadian company Axmin Through Corbeaunews Central African Republic - Posted on June 8, 2021, 8:56 AM Bangui, Central African Republic, Wednesday, June 9, 2021 (Corbeaunews - Centrafrique). The Central African state and the Canadian mining company Axmin, headed by Chinese businesswoman Lucy Yan, have entered into discreet negotiations to end the dispute over the Ndassima gold mine and avoid costly proceedings. arbitration. A thorny issue behind which hovers the shadow of Moscow. The Central African state will soon enter into discussions with the Canadian junior Axmin and its subsidiary in Bangui Aurafrique in the Ndassima case, in reference to the eponymous gold-rich zone in the center of the country. The deposit is one of the most important gold veins in the Central African Republic and the only one to enjoy known “industrial” potential. The Canadian junior protests against the cancellation, in July 2019, of its two exploration permits and its exploitation license for the gold of Passendro, Bambari I and Bambari II, in the area of Ndassima, acquired at the beginning of the years 2000. The Central African State emphasizes the absence of exploitation, when Axmin, for his part, invokes a “case of force majeure”, the territory being occupied by armed groups since 2012. The two parties are currently finalizing the organization of a mediation with the International Arbitral Chamber of Paris (ICC), which should take place in the coming weeks. The aim is to avoid the arbitration stage, a long and costly process. The mediation will be led by the lawyer and property manager Laï Kamara. Axmin, headed by Chinese businesswoman Lucy Yan, is defended by Crépin Mboli-Goumba, lawyer and unsuccessful 2020 presidential candidate (3.16% of the vote, AI of 05/18/20). On the Central African side, no less than three lawyers will assist the Minister of Mines Léopold Mboli Fatran and the Keeper of the Seals Flavien Mbata (or their possible representatives): the Bâtonnier Emile Bizon, Jean-Paul Veketo and Constant Gouyomgbia Kongba-Zeze. The installation of the mediation had been delayed, the last three having not been paid since the treatment of the case by the Central African State Council in April 2020. The high court declared itself incompetent to judge the folder, “Abuse of power” and “amicable settlement” The cancellation of the contract in July 2019 was managed directly by the cabinet of Minister Mboli Fatran, in close collaboration with the presidential palace. But it had aroused many disapproval at the top of the Central African administration, raising concerns about the consequences of legal proceedings. Thus, a report written in 2020 by Rufin Benam Beltoungou, the natural resources advisor to President Faustin-Archange Touadéra, advised “to favor an amicable settlement” and even to “simply reverse this decision to withdraw”. Another report, this time from the High Authority for Good Governance dated April 24, 2020, concluded that there had been an “abuse of power by the Ministry of Mines”, a “misinterpretation” of the law and advocated a “settlement to the amicable ”of the dispute. It is therefore this last avenue which is favored today by the parties. Laï Kamara decorated by Russia in 2013 The Central African state had issued a new call for tenders, won in February 2020 by Midas Resources, a Malagasy company represented by Final Leandric Rabenatoandro and regularly presented as close to Russian interests in the country. Since its arrival in 2018, the Russian paramilitary group Wagner, which has a strong presence in the Central African Republic, has taken a keen interest in the mining sector. Two Russian mining companies active in the country, Lobaye Invest and M-Finans, were sanctioned by the US Treasury in September 2020 for their links with Yevgeny Prigozhin, a Russian oligarch close to Vladimir Putin and Wagner. The future mediator, Laï Kamara, for his part received in 2013 the Order of Friendship from the hands of Vladimir Kozhin, ex-KGB, close collaborator of Vladimir Poutine in the Kremlin and under sanctions of the American Treasury since 2014. The French lawyer had, in 2013, won a long legal battle for the benefit of the Russian state over the Orthodox Saint-Nicolas cathedral in Nice, which pitted it against a local association.
Ndassima mining case: an arbitration between the Central African Republic and Axmin will be held in Abidjan https://www.rfi.fr/fr/afrique/20210...la-centrafrique-et-axmin-se-tiendra-à-abidjan Ndassima mining case: an arbitration between the Central African Republic and Axmin will be held in Abidjan Published on : 09/20/2021 - 04:55 In the Central African Republic, the case concerning the mining permits of Ndassima, the only mines in the country known to be industrially exploitable, continues. The permit was withdrawn from the Canadian Axmin consortium at the end of 2019 because the authorities accused it of not having met the legal deadlines to start operations. Axmin opposes its inability to operate because of the security conditions and in particular the presence of armed men on the site. It took several weeks for a date to be set. It is therefore on October 20 that the arbitration will be held between the Canadian junior Axmin and the Central African State. The meeting will take place in Abidjan. The mediator has been appointed but his identity is kept confidential. The objective is to find a way out of the crisis from this situation. But for the company Axmin, the goal is clear, it is to recover the two licenses withdrawn two years ago now. A withdrawal that she considers illegal. Contacted the Minister of Mines did not wish to comment, specifying to prepare for the meeting at the end of October. Rufin Benam Beltungou, recently appointed to this post, was before that the advisor on natural resources to President Touadéra. In a note addressed to the Head of State, he advised at the time to " go back purely and simply on this decision to withdraw " considering that this decision lacks " legal basis ".
Updated article regarding the situation with the Ndassima gold mine: https://cdn-ceo-ca.s3.amazonaws.com/1gpfoal-Axmin Document.jpg
Axmin, republic agree to Jan. 29 deadline for Passendro 2021-11-29 16:01 ET - News Release Ms. Lucy Yan reports AXMIN INC. ANNOUNCES PROGRESS REPORT ON MEDIATION WITH THE GOVERNMENT OF THE CENTRAL AFRICAN REPUBLIC Axmin Inc. has released a progress report on the mediation process that was initiated by the company regarding the Passendro gold project in the Central African Republic (CAR) to rectify the mining licence and two exploration permits, as previously publicly disclosed by the company including in "Operations -- Central African Republic -- Passendro Gold Project" in the company's management's discussion and analysis for the six months ended June 30, 2021, and 2020. The President of the CAR, Mr Faustin-Archange Touadera, gave a mandate to Mr Arnaud Djoubaye-Abazene, the Minister of Justice, and to Mr Ruffin Benam-Beltoungou, the Minister of Mines and Geology, to come to an amicable settlement with the Company. Axmin is represented by Mr Boubacar Sidibe and the Company's legal counsel. Axmin made its views clear during the mediation held in Abidjan, Ivory Coast as to various solutions regarding the appropriate rectification. The CAR delegation did not contest or dispute the propositions made by the Company but did request the opportunity to return to Bangui, the capital of the CAR, to discuss the possible solutions with the Council of Ministers. The parties to the mediation agreed to a maximum delay to January 29, 2022 to rectify this matter. If this timeline is not adhered to, Axmin has the right to pursue a binding legal process. Axmin Chairman and CEO, Lucy Yan, said, "We are delighted to be working with the representatives of the CAR Government to rectify this matter in an amicable manner. We believe that the mutually successful rectification of this matter will benefit the CAR, all shareholders and all other stakeholders." About Axmin Inc. Axmin is a Canadian exploration and development company with a strong focus on central and West Africa. We seek Safe Harbor.
