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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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    Hello Onepoint, thanks for the kind words and posting the chart as well. It's nice to see another individual posting on here. I still believe the upside on Axmin Inc. is quite large given their proven gold asset in comparison to the company market cap. Key here is seeing the Country of the Central African Republic stabilize, which I believe is in the midst of happening. Then things can start where they left off 6 years ago and that was producing from the Ndassima gold mine.

     
  2. TheDude

    TheDude Active Member

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    If the Diamond and Oil mineral sectors within the Central African Republic are getting established now, Gold shouldn't be too far behind.

    http://www.diamondworld.net/Content...unity-to-Engage-In-Responsible-Sourcing/16793

    https://www.facebook.com/pg/centrafriquenews/posts/?ref=page_internal

    (converted to English from French via the CAR news page)

    MINISTER MBOLI FATRAN ATTENDS AFRICA OIL WEEK 2018

    CAR Minister of Mines and Geology, Mr Leopold Mboli Fatran, attended with Mr Francis Sodea, Director General of Petroleum, the 25th edition of Africa Oil Week held from 5-9 November 2018 in Cape Town, South Africa.

    Addressing as a member of the ministerial panel on national energy strategies on Wednesday, 7 November, Minister Fatran gave an overview of the CAR oil sector while indicating its prospects for development.

    He then discussed with Ms Andrea Brown, CEO of the South African company DigOil, who was exhibiting at the American Association of Petroleum Geologists meeting the first promising of the bloc C she is being exploring in the southwestern region of CAR.

    On November 8, the Minister of Mines met on the sidelines of the conference, Mr Zhou Song, Executive Director and President of SINOPEC, already established in CAR as a service provider in oil exploration and who would to strengthen its presence in the country.

    Finally, on November 9, Minister Mboli Fatran met with his Sudanese counterpart, Honorable Azhari Abdalla Abdelgader, with whom they committed to strengthen the ties in the near future between their respective departments through the formalisation of their bilateral cooperation.
     
  3. Onepoint272

    Onepoint272 Well-Known Member

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    Looks like I missed 0.24 on AXM but may get another shot at it. Actually I'll have to buy the US OTC version, AXMIF which on a good day trades 10,000 shares. I don't know but I imagine the spreads are fairly wide. It may be difficult to buy and harder to sell. But I'll be looking at this as a long term speculation with money I'm willing to loose; like buying an option.

    upload_2018-11-19_21-56-23.png
     
    bigbear0083 likes this.
  4. TheDude

    TheDude Active Member

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    AXMIF does have much wider spreads and lower volume than AXM. But I think things will pick up here once we get Q3 results next week and also going back to Passendro. Adding a gold asset with an NAV of close to $500 million USD to a $30 million market cap company will make it move for sure as this rarely ever happens in the mining sector. Usually it's an acquisition whereas AXM will just get it back .Plus we got that royalty revenue coming every quarter. Check out volume pre 2012(when rebels took over the CAR) as that's a good indication to where we will get back to.
     
    Onepoint272 likes this.
  5. TheDude

    TheDude Active Member

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    Three new articles out talking about how the Central African Republic is growing in terms of economy, military strength and foreign investment. They are in French and will need to be converted to English via google.

    1) New Flights Offered In Central African Republic - https://www.jeuneafrique.com/668670...vid-lamoureux-patron-de-la-compagnie-via-air/

    2) FACA deployed to Alindao to secure town - http://ndjonisango.com/securite/cen...uZ-pQSdLBrCe-cDBdhLmX_JYXJ3f2rO8On-k-8HNlaKI4

    - Note: This is major news because Alindao is the UPC stronghold and once they are eliminated from the area, Bambari to Ndassima should be secured, thus giving Axmin access back to the gold deposit. Not only that, Alindao is much father from Bambari than Ndassima, which means FACA has a much larger radius of control and support.

    3) Chinese company to begin exploring for oil in the Central African Republic - http://news.abangui.com/h/66055.htm...sG4L1F6IcM6NrpE2qxdybLPUp9Aa0qTLbn2Wksck3iKuE

    - This isn't gold, but it goes to show that now Diamonds and Oil are being extracted from the country. Thus gold isn't far away and the tax dollars earned by the government will help stabilize everything
     
    Onepoint272 likes this.
  6. TheDude

    TheDude Active Member

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    International Trade Center & CAR Officials Meet

    http://news.abangui.com/h/66090.htm...mRyqp33iCTTj69LiWFWGF8BHfvdfYrw0JINEkbj6dyv3I

    Central Africa: ITC builds capacity of trade and investment support institutions
    Posted on Friday November 23rd 2018 | Rjdh Central African Republic

    BANGUI - the International Trade Center (ITC) in collaboration with the Ministry of Commerce and Industry organized a workshop from 21-23 November 2018 at the Ledger Hotel Bangui on the validation of the feasibility study for the creation a Central African agency promoting investment and exports.

    It is within the framework of the reinforcement of the institutional mechanism of support to the development of the investments and the exports, that the government of the Central African Republic initiated, with the assistance of the ITC, a feasibility study on the creation of an organization specifically dedicated to promoting investments and exports as an instrument for revitalizing the economy and growth.

    The main objective of this validation workshop is to provide the various stakeholders with the conclusions and recommendations of this study as well as the new device to be considered.

    Ruben Phoolchund, Head of Office for Africa CCI's Country Programs Division salutes the government's commitment to the International Trade Center, "The International Trade Center also commends the Government of the Central African Republic's commitment to reforming the environment and encourages it to pursue these reforms in order to guarantee the legal security of the investments with a view to facilitating the work of this new creative agency, "greeted the Head of the Office for Africa.

    The recommendations are based on the results of the analysis of the current institutional framework for trade and investment support, as well as on the assessment of the needs for support services of Central African companies.

    The proposed model for the new Agency includes a governance and management structure, an organic operating framework, a typology of investment promotion support services and exports to be developed, and the modalities for their implementation.
     
  7. TheDude

    TheDude Active Member

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    China pledges to build capacity of Central African police

    http://news.abangui.com/h/66096.htm...YUypTYFiS3l5_AX28TcV-LsVanOqYTgCXC8bEAifd1DSI

    China pledges to build capacity of Central African police

    Posted on Friday November 23rd 2018 | presidency

    The President of the Republic, His Excellency Pr Faustin Archange TOUADERA received in audience in the early afternoon of November 21 a delegation of Chinese policemen, led by Mr. Zhong BING.

    This team of Chinese police instructors came to the Central African Republic to train Central African police officers at the request of President Touadera to his Chinese counterpart Xi Chin Ping during his last state visit to China.

    This training will contribute to the Government's policy for the rehabilitation and restructuring of the Defense and Homeland Security Forces.

    Recall that during his first mission to China as head of the Central African State, President TOUADERA visited the police institute in Fujia. This visit enabled the Central African Number One and the President of this Police University to sign a contract for the capacity building of Central African police officers and elements of the Presidential Guard.

    Chinese police instructors will now be assigned to Central African territory to train thousands of police officers.
     
    Onepoint272 likes this.
  8. TheDude

    TheDude Active Member

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    UN Tweet Reveals Bambari-Ndassima Corridor Being Worked On. This is the final leg since Axmin's multi million ounce proven gold deposit is right beside the town of Ndassima.

    Passendro gold deposit beside NDassima - http://www.axmininc.com/Corporatenbsp.php

    Tweet From November 20th - https://twitter.com/IOM_CAR?lang=en

    OIM République Centrafricaine‏@IOM_CAR Nov 20
    Rendre possible l'accès humanitaire. #IOM réhabilite le bac de l'axe Bambari-Ndassima dans le cadre du programme de réduction des violences communautaires #CVR. Financement PBSO/MINUSCA. @UN_CAR @unpeacebuilding #CARcrisis @rochdi_najat @OCHA_CAR @ONUmigration @IOMROWCA @RcaUnct

    Translated from French by Microsoft


    Make humanitarian access possible. #IOM rehabilitates the BAC of the Bambara-Ndassima axis within the framework of the Programme for the reduction of Community violence #CVR. Funding PBSO/MINUSCA. @UN_CAR @unpeacebuilding #CARcrisis @rochdi_najat @OCHA_CAR @ONUmigration @IOMROWCA @RcaUnct
     
    Onepoint272 likes this.
  9. TheDude

    TheDude Active Member

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    EU Official To Visit CAR & Russia/France Agree To Work Together

    Nov.26th - EU to visit CAR and offer support on security(need to translate) - http://ndjonisango.com/diplomatie/c...e-stefano-manservisi-de-la-commission-de-lue/

    Nov.27th - Russia & France to cooperate on stabilizing the CAR - https://www.urdupoint.com/en/world/russia-france-agree-to-continue-cooperation-490188.html

    - This is big news because the countries have been arguing with each other for months now. A team effort can speed up the stabilization process

    US Group to clean up Bria - https://www.ngoaidmap.org/projects/22050

    - Bria is another important town that's located east of Bambari/Ndassima. With that corridor secured, Axmin should have no issues whatsoever with rebel groups or bandits.
     
    Onepoint272 likes this.
  10. Onepoint272

    Onepoint272 Well-Known Member

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    I've been trying to buy AXMIF, the U.S. OTC flavor of it's Canadian mother, AXM. I've been placing limit orders between the bid and ask with no success. Not sure, but I think my broker holds limit orders until the offer reaches my limit which would mean my order is invisible to the really thin market for AXMIF. I may just have to buy the ask or explore placing a directed order.
     
    #90 Onepoint272, Nov 27, 2018
    Last edited: Nov 28, 2018
  11. Onepoint272

    Onepoint272 Well-Known Member

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    I better hurry, this looks ready for another leg up. It's been building cause to break thru that resistance line established by the December 2008 low.

    upload_2018-11-28_0-1-32.png
     
    bigbear0083 likes this.
  12. TheDude

    TheDude Active Member

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    maybe worth moving the bid up another 1-2 cents to see if it gets filled? long term value is many times imo and getting shares isn't the easiest even with 1/3rd retail.
     
    Onepoint272 likes this.
  13. TheDude

    TheDude Active Member

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    AXM.V Q3 2018 Results (Financials + MD&A) Ending September 30th 2018
    All information is available through Sedar. Numbers below are in US Dollars

    *NOTE* - October 10th Cash & Share Deal Was Completed After Q3 Ended. Will be reflected in Q4 balance sheet

    Tickers: AXM (CDN) & AXMIF (US)
    Price: $0.26
    Common Shares: 130,497,381 - Increased by 3.46 million after Q4 share deal
    Options: 8,240,000
    Insider/Institutional Holdings: 82,089,114

    ASSETS
    Cash: $2,250,907 - Cash will drop $1.2 million after Q4 deal
    Receivables: $153,047
    Prepaid Expenses: $2,105
    Total Assets: $2,406,059
    *NOTE - CAR property value has not yet been added to assets

    LIABILITIES
    Accounts Payable: $1,436,261 - Liabilities will drop $1.2 million after Q4 deal
    Due To Related Parties: $192,572
    Liabilities Of Discounted Operations: 0 - only liability removed in Q3
    Total Liabilities: $1,628,833

    Asset/Debt Ratio: 1.48:1 - first time since 2012 when a positive ratio

    9 Month Earnings Summary
    - Royalty Revenue: $1,214,682
    - Total Expenses: $399,454
    - Removal of $323,103 liability
    - Total Comprehensive Income: $1,125,731
    - USD Earnings Per Share: $0.008

    *NOTE* - Terenga still owes Axmin around $1 million USD in royalty payments. This is paid as Gora ore is processed and sold

    Management Discussion Highlights

    Third Quarter 2018 Highlights

    - During the three months ended September 30, 2018, the Company reported royalty income of $147,488 from Gora
    Projects, compared with $273,516 for the same time period of 2017.
    - The net income for the three months ended September 30, 2018 was $310,826 compared to $206,789 in the same period
    of 2017.

    Business and Summary of Activities

    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.
    In June 2018, Axmin 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 4 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 337.3km2
    and Sounkounkou is 291.7km2, which together cover roughly 90% of the prior permit areas.

    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 above 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.
    Royalty income in the amount of $4,033,360 has been recognized since Gora Deposit began production. The total royalty income
    for the nine months ended September 30, 2018 was $1,214,682 (for the nine months ended September 30, 2017 - $970,855). 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.

    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 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 October 15, 2013, the Government of the CAR signed the Decree No. 13.412, stating that the duration of the validity of the
    Bambari 1 and 2 Exploration Licences held by Aurafrique SARL, a wholly owned CAR registered subsidiary of the Company, were
    extended for a period of one year from August 7, 2013 to August 6, 2014.

    On October 15, 2013, the Government of the CAR granted SOMIO Toungou SA, a wholly-owned subsidiary of the Company, a oneyear
    extension of the exemption from starting the development and pre-production work at the Passendro Gold Project. The period
    of the extension of the exemption is valid from January 11, 2014 to January 10, 2015.

    On October 15, 2013, the Government of the CAR (“Government”) officially acknowledged the considerable monetary losses the
    Company sustained, which was estimated to be approximately US$38 million, at its operations in the capital city of Bangui and at its
    Ndassima camp located 60 km north of the town of Bambari. In response to those losses, the Government has consented to a
    compensation of 50 percent of all taxes, rights and taxations, but did not specify the applicable time period. Given the uncertainty of
    the Government compensation, the Company has not accrued any compensation

    On October 18, 2013, the Government of the CAR certified that the License of Exploitation (the “Mining License”) held by SOMIO
    Toungou SA, which was originally granted to the Company on August 5, 2010 and recorded under the Chronological Code
    PE001/10 (Registration number 002 of August 5, 2010) by the Department of Mines, remains valid for a period of twenty-five years
    from the date of the grant.

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

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

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

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

    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.

    The Company notes as reported in the world press that the Central African Armed Forces (FACA) have recently been deployed in
    the city of Bambari and the vicinity. AXMIN regrets the violence that has taken place during this time, and believes that the
    combination of the FACA and MINUSCA forces on joint patrols should hopefully bring stability to the region enabling the Company
    to become operational again at Ndassima near Bambari.



    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.

    As of February 28, 2012, AXMIN elected to take a 1.5% NSR Royalty Interest in the Gora Deposit, located on the Sounkounkou
    permit. In July 2012, the Republic of Senegal declined the application submitted by SMC, the manager, for the extension for the
    Sabodala NW license, which has now expired and is believed to have been granted by the Senegal Government to a third party.
    On September 5, 2014, an extraordinary extension of 24 months for the Heremokono exploration permit has been granted by the
    Senegal authorities.

    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.

    Senegal JV – Gora Deposit (1.5% Royalty Interest)

    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.

    On November 1, 2018, Teranga released its nine months ended September 30, 2018 Financial Statements and MD&A which
    contain additional information including information on Gora’s reserve and resources as noted below:

    Exploration and Evaluation Assets and Expenditures

    AXMIN holds a 100% interest in the Bambari properties which consist of a 25-year Mining Licence (355 sq km), which was granted
    in August 2010 and remains valid up to date, and two Exploration Licences, Bambari 1 and 2 (1,240 sq km), which were also
    granted in August 2010 and remains valid up to date. The Bambari properties had been the subject of substantial exploration by
    AXMIN since the discovery of the Passendro project. The Passendro project is situated in the centre of the Mining License which is
    ring-fenced by the two Bambari Exploration Licenses.

    Impairment in the amount of $37,346,576 was recognized as at December 31, 2013 on the Bambari properties to reflect the
    decrease in their recoverable value as the result of the current political turmoil in CAR. The new government of the CAR might
    adopt different policies respecting foreign development and ownership of mineral resources. Any such changes in policy may result
    in changes in laws affecting mining policies, ownership of mineral assets and might extend to expropriation of mineral assets. The
    recoverable amount of the Company’s Bambari properties is $nil based on management’s estimate of the asset’s fair value less
    costs to sell (“FVLCD”).

    As at September 30, 2018, there has been no significant change in the assumptions used to determine the FVLCD since the
    impairment loss was recognized in 2013 but as stated above the Board may re-evaluate the FVLCD once the Company is back on
    site and operational.

    Subsequent Events

    The Company settled an accounts payable of $2.0 million by making a payment of US$1.2 million and the issuance of 3.46 million
    shares at a price of C$0.30 per share. A settlement agreement has been entered into (the "Settlement Agreement") and the
    transaction relating to the Settlement Agreement has received final approval from the TSX Venture Exchange. Subsequent to the
    period end, the US$1.2 million was paid and the 3.46 million shares were issued extinguishing this accounts payable in its totality.
    The shares issued pursuant to the above-referenced Settlement Agreement are subject to transfer restrictions under a two (2) year
    lock-up agreement, during which time the shares may not be sold. The transfer restrictions under the lock-up agreement will expire
    two (2) years plus one day from the date of grant.

    Subsequent to the period end, 280,000 stock options were exercised.

    Concentration of Share Ownership

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

    TheDude Active Member

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    Axmin earns $310,826 (U.S.) in Q3 2018

    2018-11-28 09:08 MT - News Release

    Ms. Lucy Yan reports

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

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

    Highlights:
    • During the three months ended Sept. 30, 2018, the company reported royalty income of $147,488 from Gora projects, compared with $273,516 for the same time period of 2017.
    • The net income for the three months ended Sept. 30, 2018, was $310,826 compared with $206,789 in the same period of 2017.
    Liquidity and capital resources

    At Sept. 30, 2018, the company had cash on deposit in the amount of $2,250,907, accounts and other receivables of $153,047, and prepaid expenses of $2,105. Royalty income receivable of $147,487 has been received subsequent to the period ended Sept. 30, 2018.

    Net assets increased to $777,226 at Sept. 30, 2018, compared with negative $1,215,536 at Dec. 31, 2017.

    Outlook

    The company is very pleased with the progress made to strengthen the balance sheet by settling the long-standing accounts payable. Axmin is looking forward to becoming operational again in the Central African Republic (CAR) as soon as conditions allow.

    Resignation of chief financial officer

    Jin Kuang has tendered her resignation and David de Jongh Weill has been appointed as the chief financial officer, effective from Nov. 15, 2018. In addition to having already served as chief financial officer of a listed public company, Mr. Weill has served as chairman of four companies listed in Toronto, London and Sydney.

    Mr. Weill commented: "It is a privilege to serve Axmin as chief financial officer at this exciting time as we are making the requisite preparations to become operational again in the CAR. I believe that the duly elected government has laid a strong foundation for peace and stability in the country, and that it is now only a question of time for our company to be back on site and operational once more at the Passendro asset."

    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.
     
  15. TheDude

    TheDude Active Member

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    Quarter Oz Mined By TGZ Price Of Gold Per Quarter (USD) Estimated Payment (1.5%) Actual Payment
    Q3 2015 2,414 $1,104.44 $39,991.77 $0.00
    Q4 2015 20,401 $1,090.19 $333,614.49 $252,721.00
    Q1 2016 27,560 $1,165.76 $481,925.18 $457,259.00
    Q2 2016 14,517 $1,226.34 $267,041.67 $232,045.00
    Q3 2016 8,570 $1,334.77 $171,584.68 $165,794.00
    Q4 2016 17,301 $1,217.09 $315,853.11 $125,282.00
    Q1 2017 22,286 $1,218.57 $407,355.77 $310,684.00
    Q2 2017 21,402 $1,258.65 $404,064.41 $386,655.00
    Q3 2017 11,123 $1,277.64 $213,167.85 $273,516.00
    Q4 2017 60,587 $1,275.84 $1,159,489.77 $614,723.00
    Q1 2018 58,384 $1,329.77 $1,164,559.38 $490,551.00
    Q2 2018 29,052 $1,306.97 $569,551.00 $576,643.00
    Q3 2018 1,608 $1,212.58 $29,247.43 $147,488.00


    Totals 295,205 $1,232.20 $4,958,648.08 $4,033,361.00

    Owed To AXM From TGZ (USD)
    $925,287.08
    Gold Average Price Per Quarter:
    https://www.denvergold.org/precious-metal-prices-charts/gold-quarterly/

    AXM.V All Numbers In USD
    Year Total Assets Total Liabilities Total Revenue Gain/Loss Asset/Debt Ratio Common Shares
    2007 $79,216,000 $3,200,000 nil -$5,930,000 24.76 213,436,657
    2008 $85,461,000 $889,999 nil -$8,619,999 96.02 235,908,368
    2009 $35,989,999 $1,283,000 nil -$54,450,000 28.05 292,137,709
    2010 $71,040,000 $8,627,000 nil -$6,687,000 8.23 437,281,437
    2011 $46,502,000 $5,068,000 nil -$9,633,000 9.18 62,767,410
    2012 $39,471,000 $3,301,000 nil -$6,409,000 11.96 63,160,312
    2013 $568,000 $2,639,000 nil -$44,264,000 0.22 92,998,258
    2014 $297,677 $2,598,169 nil -$20,220 0.11 110,529,109
    2015 $347,504 $2,520,590 $252,271 $135,408 0.14 126,000,445
    2016 $516,121 $2,952,285 $980,380 -$272,296 0.17 130,497,381
    2017 $1,738,742 $2,954,278 $1,585,578 $1,141,752 0.59 130,497,381
    2018(Q1-Q3) $2,406,059 $1,628,833 $1,214,682 $1,125,731 1.48 130,497,381

    Notes: 1) TGZ.T has not processed all Gora Ore. Close to $1 million USD still to be paid
    2) 16 other potential producing targets to be opened up in 2019
    3) Asset/Debt ratio positive the first time since 2012.
    4) October 10th 2018 deal for balance sheet clean up won't show until Q4 results( Apr 2019)
     
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  16. TheDude

    TheDude Active Member

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    7 New Positive Articles About The Central African Republic (Last 24 Hours)

    Merck of Germany to build healthcare facilities in the CAR - https://www.biospectrumasia.com/new...rtnership-with-health-ministry-of-c-a-r-.html

    MINUSCA commends Rwanda police peacekeepers - https://www.newtimes.co.rw/news/minusca-commends-rwanda-police-peacekeepers

    EU Gives CAR 38 Million Euros For Support (Must Translate) - http://news.abangui.com/h/66156.htm...8dbidskaXk-8_x12Rm0RreWXh2j4vzDGSitrpPsbS10lU

    United States Offers Logistics Support To CAR - https://www.facebook.com/pg/usembassy.bangui/posts/?ref=page_internal (most recent Facebook Post today)

    330 Amphibious Soldiers Complete Training For CAR (Must Translate) - http://lepotentielcentrafricain.com...dhhVrLdNOxH-yT2boRajq9f6xy-JG8ntqqk4CvAbCKT-U


    MLPC(1 of 14 rebel groups) announces support for government (must translate) - http://www.corbeaunews.ca/centrafri...-relatif-a-la-festivite-du-1er-decembre-2018/

    November 29th March For Peace Process & Russian Support In CAR - http://ndjonisango.com/societe/cent...cessus-de-khartoum-et-a-la-cooperation-russe/
     
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  17. TheDude

    TheDude Active Member

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    The European Union promotes the return of public services and economic recovery through the opening up of the CAR regions

    http://news.abangui.com/h/66222.html

    The European Union promotes the return of public services and economic recovery through the opening up of the CAR regions

    Posted on Monday, December 3, 2018 | EUROPEAN UNION

    The project to open up Central African regions was officially launched yesterday in Bimbo in the presence of the President of the Republic, Pr. Faustin-Archange Touadéra, and the Director-General for Development and International Cooperation of the European Commission, Stefano Manservisi.

    Funded by the EU via the #Bekou Fund topped by € 7 million and implemented by Expertise France, the project aims to open up the RCA through the installation of metal bridges.

    "Building bridges is like building links," said DG Manservisi. "This project is a great turning point for the country: connecting the regions, connecting Bangui to the rest of the country, with a tangible improvement in the living conditions of the people who live in the country. will have easier access to markets, basic services and human exchanges between them.The common objective is to contribute to the development of the regions of the country, but also to the strengthening of its unity, of its feeling of country and nation, of its living together through mobility and the free movement of people, goods and values ".

    For the Minister of Economy and Planning, Felix Moloua, after the approval in June 2017, concrete steps have been taken to officially launch the project to open up and facilitate the development and creation of conditions conducive to the return of refugees. refugees and displaced persons.

    "A result of all the efforts of Europeans in the Central African Republic": for the Ambassador of France in the Central African Republic, Éric Gérard, the project will allow the construction of bridges to facilitate the free circulation of the waterways with a view to a better connection with the population.

    A metal bridge element was handed over by DG Manservisi to the President of the Republic, symbolically marking the launch of the project which will also see in its implementation the development of the capabilities acquired by the Central African military engineers through the training provided. by the EUTM.

    Launched in July 2014, the Bekou Trust Fund is funded by the European Commission, France, Germany, the Netherlands, Italy and Switzerland.
     
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  18. TheDude

    TheDude Active Member

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    Central African Republic: Bouar hosts awareness caravan ahead of "grand disarmament"

    http://french.xinhuanet.com/2018-12/02/c_137645880.htm

    Central African Republic: Bouar hosts awareness caravan ahead of "grand disarmament"

    BOUAR (Central African Republic), December 1 (Xinhua) - An awareness caravan supposed to prepare Central African armed groups to join the so-called Disarmament, Demobilization, Reintegration and Repatriation (DDRR) process in the western regions is today in Bouar (west), it was found on Saturday.

    The "big disarmament" in question will be launched in the coming days in Paoua, according to the schedule given by the president Faustin-Archange Touadéra.

    Taking advantage of a sports meeting in Bouar on the occasion of the festivities of 1 December marking the 60th anniversary of the proclamation of the Central African Republic, Abel Déholo, DDRR communications officer, insisted on the need to return weapons, the first step of this process.

    He recalled that this disarmament was the consequence of the agreement reached on May 10, 2015 between the government and the representatives of the armed groups. In his eyes, this will have a positive impact on peace and development, the foundations of the restoration of state authority throughout the country.

    Mr. Déholo also mentioned the reintegration mechanisms of ex-combatants, who could join the gendarmerie, the police, the Waters and Forests, the customs or firefighters, if they meet the criteria, or learn a trade by example in agriculture, breeding, trade, carpentry, mechanics, electricity or computing. He indicated that installation kits will be provided.

    The DDRR process in Central Africa is supported by the local UN Mission (MINUSCA) and the World Bank.

    Prior to the large DDRR itself, a pilot program had already been piloted, incorporating 234 young ex-combatants into the army and adding another 280 socio-economically.

    The awareness caravan will cover the cities of Bossemptele, Baoro, Baboua, Zoukombo, Beloko, Niem Yelewa, Koui, Bocaranga and Bozoum. A similar campaign had traveled from November 3 to 10, many localities of the sub-prefecture of Paoua.

    End
     
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  19. TheDude

    TheDude Active Member

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    Launch Of New Mining Support Project In Central African Republic

    http://news.abangui.com/h/66249.html

    Central African Republic: Minister MBOLI FATRAN on the occasion of the official launch ceremony of the Property Rights and Mining Crafts Project (DPAM)

    Posted on Wednesday, December 5, 2018 | Central African lepotential

    On November 28th, 2018, in Bangui, the official launching ceremony of the Project of Property and Mining Crafts (DPAM) in the presence of two members of the Government namely, Ministers Mboli-Fatran in charge of Mines and Geology and Virginie Mbaïkoua of Humanitarian Action and National Reconciliation as well as the Chargé d'Affaires ai of the United States Embassy in Central Africa, whose country is the key partner of the project.

    In his speech of convenience, the Minister Mboli-Fatran was at first pleased with the mark of friendship between the Central African Government and the United States through the financing by this partner of the Project "Right of Property and Mining Crafts" of which the amount is US $ 9, 800,000, or about CFAF 6 billion.

    According to the Central African Minister in charge of Mines and Geology, this project aims to strengthen the process of peaceful coexistence between all Central Africans of different social strata in mining areas in line with the Kimberley Process and national and international mining stakeholders.

    "This project will also improve mining governance and increase access to land while placing a special emphasis on the gender dimension," said Minister Mboli-Fatran who took the opportunity to present on behalf of the people of the Central African Republic, his gratitude to the Government for all the support it has been providing in the framework of bilateral cooperation for more than 60 years.

    Continuing his remarks, the member of the Government specified that: "It is since 2007 that the CAR and the United States maintain relations of bilateral cooperation in the matter of good governance and sustainable management of the artisanal mining sector through the Project Rights of Property and Development of the Artisanal Diamond1 (DPDDA1) ".

    According to Minister Mboli-Fatran in 2015, the second phase of the DPDD2 project has complemented and reinforced Phase 1 and has led to a significant number of activities including: the digitization of historical diamond marketing data for the period of 2006 to 2015; the georeferencing of the work sites of the artisanal miners in the conformal zones; the setting up of small emission units for artisan cards and mining workers in the Regional Directorates and the Prefectural Mining Services; improved management of production and marketing databases for compliant areas; the rebuilding and updating of the database of artisanal miners (DPDDA zone); updating the mining cadastre of conforming zones in order to clarify their impact on the dynamics of the current artisanal mining; and other activities related to the Center for Management of Geo-Scientific Information and Mining Statistics or the Mining Cadastre at the request of the General Directorate of Mines; Collaborative work with the National Monitoring Committee of the Kimberley Process for the recovery of rough diamond exports in the Central African Republic, which has made 5 diamond sub-prefectures compliant and proposed 9 others.

    The Government member did not fail to address a number of challenges that remain to be addressed, among others, the re-establishment of compliance of the Kimberly Process in all gross diamond producing areas of the country; strengthening of subregional cooperation to fight against fraud and smuggling of diamonds and gold; the modernization of the mining cadastre; improving the living conditions of mining communities through the development of a mining economy; compliance with environmental standards; Strengthening dialogues among all mining communities to strengthen national unity and peaceful coexistence

    Before closing his speech, Minister Mboli-Fatran declared that the Central African Government hopes that the implementation of the Project "Property Rights and Mining Crafts (DPAM)" will really benefit the people of the Central African Republic and that the Annual Work Plan will be respected in the interest of the Central African mining sector.
     
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  20. TheDude

    TheDude Active Member

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    Best Junior Gold Stocks of 2018 on the TSXV

    https://investingnews.com/daily/res...-list-the-tsxvs-top-performers/?mqsc=E4010925

    Best Junior Gold Stocks of 2018 on the TSXV
    Olivia Da Silva - December 4th, 2018

    While gold has had its share of ups and downs in 2018, some companies have achieved strong results despite the precious metal’s fluctuating price point.

    With the year nearly over and done, the Investing News Network has rounded up the best gold stocks on the TSXV by share price performance so far this year. All have received high levels of investor interest in 2018, with the biggest gainer being up more than 700 percent year-to-date.

    All year-to-date and share price information was obtained on December 4, 2018 from TradingView. All companies listed had market caps above $10 million at that time.

    1. AXMIN (TSXV:AXM)
    Year-to-date growth: 733.33 percent, current share price: C$0.25

    Based in Canada, AXMIN is a gold exploration company with assets in the Central African Republic (CAR), along with a royalty agreement in Senegal for Teranga Gold’s (TSX:TGZ) Gora deposit. The company’s main priority is developing its Passendro gold project in the CAR, which has been a touch-and-go process due to security issues in the country.

    While much of AXMIN’s 2018 news centers on financial results, in June the company shared an exploration permit update on the area it shares an interest in with Teranga. A few months later, in October, the company settled a drawn-out accounts payable issue with a consultant that had helped it secure its ownership of licenses in the CAR.

    AXMIN has reported little other news this year. It’s worth noting that the company released a statement in August saying it was unaware of why it was experiencing an increase in market activity.

    2. Westhaven Ventures (TSXV:WHN)
    Year-to-date growth: 684 percent, current share price: C$0.98

    Westhaven Ventures refers to itself as a company that focuses on identifying, acquiring and advancing early stage projects with big potential. The company’s main interest lies in its four properties located in BC’s Spences Bridge Gold Belt; cumulatively they span over 35,000 hectares.

    While the company’s share price remained at a simmer for much of 2018, things started to pick up in October when Westhaven released several positive announcements over just a few weeks. Between three sets of drill results from its Shovelnose property in October to receiving over $850,000 from a warrant exercise, the company surged as the news continued to roll in.

    Westhaven’s share price peaked on November 9 at C$1.30, the same day the company announced it had begun high-resolution airborne geophysics at its Skoonka and Skoonka North gold properties.

    3. Great Bear Resources (TSXV:GBR)
    Year-to-date growth: 583.54 percent, current share price: C$2.70

    Great Bear Resources is an exploration company with a focus on advancing precious metals projects in Red Lake, Ontario. Great Bear has two main projects, Dixie and West Madsen, which together cover 13,000 hectares of prospective greenstone belts.

    Great Bear got a boost in August after a high-grade gold discovery was made at the Hinge zone of its Dixie project. Shortly after the discovery was announced, McEwen Mining (TSX:MUX,NYSE:MUX) and its chief owner, Rob McEwen, invested a combined C$6 million in Great Bear.

    The company rode the wave of excitement through September and hit its peak at C$3.39 on October 18, shortly after the discovery of “key ultramafic geology” during a mapping program at Dixie Lake.

    4. Sokoman Iron (TSXV:SIC)
    Year-to-date growth: 240 percent, current share price: C$0.18

    Another Canadian company, this time based in Newfoundland and Labrador, Sokoman Iron is an explorer with a focus on “world-class” mineral deposits in its home province. Sokoman has several assets under its belt, but is primarily focused on its Central Newfoundland gold project, which consists of its East Alder, Crippleback Lake and Princess Lake properties, spanning 5,500 hectares in total.

    The junior miner caught the eye of investors back in late July, when it announced it would be completing a $3-million private placement that had billionaire investor Eric Sprott leading the pack. Its share price made leaps and bounds in the days following the announcement, peaking on August 3 at C$0.44.

    5. Rusoro Mining (TSXV:RML)
    Year-to-date growth: 128.57 percent, current share price: C$0.16

    With a goal of becoming a mid-tier, low-cost gold producer, Rusoro Mining has a large land position in the mining region of Venezuela’s Bolivar state. The company has two mines in production — its Isidora mine and Choco 10 mine and mill — along with 10 exploration projects that range from early stage to advanced/development stage.

    Rusoro had a fairly quiet year in terms of project news, but gained traction in October. The hype surrounding the company came when Rusoro agreed to a settlement proposal from the Bolivarian Republic of Venezuela under which the country will pay Rusoro over US$1.28 billion for its mining dataand for a full release of an arbitral award issued in favor of Rusoro in August 2016.

    The company’s share price saw its 2018 peak on October 15, days after the settlement proposal announcement, when it hit C$0.34.

    Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.

    Editorial Disclosure: Great Bear Resources is a client of the Investing News Network. This article is not paid-for content.

    Best Junior Gold Stocks of 2018 on the TSXV
     
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