Axmif - Axmin Inc. (gold)

Discussion in 'Penny Stocks' started by Jon Alba, May 17, 2018.

  1. Jon Alba

    Jon Alba Senior Investor

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    World Bank Provides $100 Million for the LONDO Project in the Central African Republic

    https://reliefweb.int/report/centra...des-100-million-londo-project-central-african

    World Bank Provides $100 Million for the LONDO Project in the Central African Republic

    WASHINGTON, May 30, 2019 - The World Bank Board of Executive Directors today approved a $100 million grant from the International Development Association (IDA)* for the LONDO project in the Central African Republic (CAR).

    This additional financing will provide temporary employment to vulnerable persons and facilitate access to basic services nationwide. Known as “LONDO+,” this financing will help triple the number of labor-intensive public works beneficiaries, providing close to 5 million paid work days in the country.

    “While it will take time for the formal private sector to establish itself across the entire country, the project will continue to fill an important gap by providing temporary jobs in all of the CAR’s districts, including the most remote areas. It will also provide access to basic services, especially in isolated areas where neither humanitarian nor development actors operate,” says Jean-Christophe Carret, World Bank Country Director for the Central African Republic.

    LONDO+ will directly support implementation of the peace agreement signed in Bangui on February 6, 2019. Under this agreement, development projects will provide basic socioeconomic infrastructure, jobs, and labor-intensive public works programs. LONDO+ has five components: (i) local governance; (ii) public infrastructure; (iii) socioeconomic integration; (iv) project management; and (v) contingency emergency response.

    Sophie Grumelard, World Bank Senior Social Protection Specialist and Task Team Leader for the project, explains that “the project will gradually promote a bottom-up approach to development to allow communities to articulate their needs to the central government through the local authorities that will represent and defend their interests. It will increase the Government’s logistical and technical capacity and agility to respond to crises in provinces with extremely poor and vulnerable communities.”

    The new closing date for the LONDO project is July 30, 2024.

    *The World Bank’s International Development Association (IDA), established in 1960, helps the world’s poorest countries by providing grants and zero-interest loans for projects and programs that boost economic growth, reduce poverty, and improve poor people’s lives. IDA is one of the largest sources of assistance for the world’s 75 poorest countries, 39 of which are in Africa. Resources from IDA bring positive change to 1.5 billion people. Since its inception, IDA has supported development work in 113 countries. Annual commitments have averaged around $18 billion over the past three years, with about 54 percent going to Africa.
     
  2. Jon Alba

    Jon Alba Senior Investor

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    Central African Republic - Rebels Complete Disarmament
    https://allafrica.com/stories/201906110707.html

    The Revolution Justice was one of the 14 signatories of the February 5, 2019 Khartoum, Sudan peace accord with the government.

    In spite of the difficult security situation in the Central African Republic, CAR, which last month saw the massacre in Paoua of 30 civilians by 3R rebels, progress is being made in restoring peace. Some 14 armed groups on February 5, 2019 in the Sudanese capital, Khartoum, reached a peace deal with the government of President Faustin-Archange Touadéra. Agency reports say the RévolutionJustice, RJ rebel movement of Armel Ningatouloum Sayo, which operated in the far north-west and west of the country, last week completed the disarmament of its combatants.

    "There are no more RJ fighters in the localities we visited," noted Captain Guy-Sylvain Goné, head of the disarmament and demobilization mission that visited the area. He added that the last fighter to hand in his weapon was Luther Bétoumbam, Chief of Staff of the defunct RJ rebel movement. Révolution-Justice leader, Armel Ningatouloum Sayo, was one of the re presentatives of 14 armed groups who signed the peace agreement with government last February. He was later appointed High Commissioner in charge of National Pioneer Youth, with rank of a cabinet minister.

    All disarmed combatants have two choices - join the military or learn a trade and be reintegrated into society. Meanwhile, Mankeur Ndiaye, the Special Representative and head of the UN Multidimensional Integrated Stabilization Mission in the Central African Republic, MINUSCA, will on June 15, 2019 brief the United Nations Security Council on the SecretaryGeneral's MINUSCA report. The Chair of the Peace-building Commission's Central African Republic configuration, Ambassador Omar Hilale of Morocco, may also brief the Council. MINUSCA's mandate expires on November 15, 2019.
     
  3. Jon Alba

    Jon Alba Senior Investor

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    University Research Report Shows Positive Impact Of China-CAR Relations (Released June 2019)

    *Please note that Axmin is majority owned and directed by a Chinese business team, hence the purpose of posting this report*

    https://www.scirp.org/journal/PaperInformation.aspx?PaperID=92850

    Note: This is a very long research report and only the briefing is posted.

    In this article, we highlight people’s appreciation of the positive impact of South-South relations. This study is based on data collected from a survey conducted in 2018 with 624 people. Through this study, we study how the actions led by China in the field of natural resources in CAR have impacted in the country and on local people. We note that the presence of a foreign power in the field of natural resources is conditioned by the achievement of certain actions in quite diverse fields. Also, no results indicate that China has conducted many actions in CAR that have had a positive impact on the sample. Through this study, we show the importance of diversifying part- nerships through South-South relations. We found that China does not condition its interventions by political or social requirements. China’s relations with CAR, as with all other African countries, are based on the principle of win-win cooperation. Beyond France and China, this article concerns others states wishing to invest in the Central African Republic (also in all Africa countries). It invites them to adopt the principle of mutually beneficial cooperation in the development of a poor country.

    Example of successful mining deal:

    In 2017, the Central African Government and the Chinese company ThienPaoSarl signed a contract for five mining exploration permits mentioned above. This contract involved the exploitation of natural resources in western CAR (Krock, 2017). The Chinese company DEWEY has planned to rehabilitate school and administrative buildings, as well as the construction of new roads and a health center (Mbaye, 2017). DEWY operates in a semi-mechanized manner, the mineral resources (diamonds and gold) in the sub-prefecture of Gadzi (southwest), on the Lobaye River in the region between Boda and Carnot. We have seen a huge influx of Chinese investors in CAR for the exploitation of natural resources these last times
     
  4. Jon Alba

    Jon Alba Senior Investor

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    IMF, China, and EU announce three new sources of funding for the Central African Republic:

    EU mobilises over €18 million for the Central African Republic in 2019 -

    https://moderndiplomacy.eu/2019/06/...ion-for-the-central-african-republic-in-2019/

    Central African Republic: China Donates 16 Billion FCFA - http://news.abangui.com/h/68751.html

    IMF Executive Board Completes Sixth Review - https://www.imf.org/en/News/Article...tes-6th-rev-ecf-arrange-approves-disbursement

    Close to $80 million USD between the three sources.
     
  5. Jon Alba

    Jon Alba Senior Investor

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    Axmin grants options to buy 3.75 million shares

    2019-07-04 05:40 MT - News Release


    Ms. Lucy Yan reports

    AXMIN GRANTS STOCK OPTIONS

    Axmin Inc. has granted stock options to directors, officers and advisers of the company for an aggregate of 3.75 million stock options of the company exercisable at 60 cents, effective July 2, 2019. The options shall expire and terminate on July 2, 2024.

    These stock options have been granted in accordance with the company's stock option plan 2005. Immediately following this award of stock options, the company has issued and outstanding stock options for 11.65 million common shares of the company and there were 1,773,738 stock options of the company available for future grant.

    About Axmin Inc.

    Axmin is a Canadian exploration and development company with a strong focus on Central Africa and West Africa. Axmin is positioned to grow in value as it progresses its Passendro gold project toward development and builds on its project pipeline focusing on transitioning from an explorer to producer.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  6. Jon Alba

    Jon Alba Senior Investor

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    Hundreds of militia fighters disarm in C. Africa peace plan

    https://www.yahoo.com/news/hundreds-militia-fighters-disarm-c-africa-peace-plan-183407555.html

    Hundreds of militia fighters disarm in C. Africa peace plan

    July 17, 2019

    Bangui (Central African Republic) (AFP) - Hundreds of fighters from several militia groups in conflict-torn Central African Republic have laid down their weapons, the United Nations said on Wednesday, as the impoverished country struggles to end bloodshed among armed groups that control vast swathes of territory.

    The nation, gripped by crisis since a 2013 coup, is striving to disarm and demobilise some 14 rebel groups as part of its latest peace efforts, which are supported by the UN peacekeeping mission MINUSCA.

    So far, "five groups are already engaged in the process, disarming more than 450 fighters" in the west of the country, MINUSCA's deputy chief Kenneth Gluck told a press conference in the capital Bangui.

    Among these he highlighted the Democratic Front of Central African People (FDPC), which he said had been "completely disarmed", adding that fighters of the Revolution and Justice (RJ) and the UFR-anti-Balaka militias had also given up arms.

    He said the 3R militia group, blamed for the massacre of more than 50 civilians in May, has also pledged to lay down its arms.

    The bloodshed in villages near the northwestern town of Paoua, close to the border with Chad, was the worst single loss of life since the government and the 14 militias signed the deal in February aimed at restoring peace to one of Africa's most troubled countries.

    The largely Muslim Seleka ("alliance") coalition that ousted president Francois Bozize 2013 was officially dissolved the same year before fragmenting into separate groups including the 3R.

    Nominally Christian militias called the anti-Balaka emerged in response to the coup, accelerating a cycle of sectarian violence.

    UN envoy Mankeur Ndiaye stressed the importance of dialogue in ending the unrest, saying: "There is no military alternative to the Central African crisis."

    With some 11,650 troops and 2,080 police deployed, according to the United Nations, MINUSCA's top priority is to protect civilians and stem the daily violence.

    Former colonial power France intervened militarily from 2013 to 2016 to expel the Seleka, and then wound down the operation.
     
  7. Jon Alba

    Jon Alba Senior Investor

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    United Nations eases arms embargo on Central African Republic

    As AXM(Axmin Inc) shareholders wait for news from the current company blackout, we are greeted with some positive news from the Central African Republic. This will help stabilize and secure the country, therefore allowing Axmin to return to Passendro in due time.

    https://www.timesnownews.com/intern...ms-embargo-on-central-african-republic/487760

    Since 2013, the United Nations has enforced a total arms embargo, except for exemptions approved in 2017 with French and Russian backing to equip newly formed army units.

    The UN Security Council on Thursday unanimously approved the easing of an arms embargo on the Central African Republic for the first time since 2013 when it was engulfed in violence. Drafted by France, the resolution authorizes the country's security forces to be supplied with weapons of a caliber of 14.5 mm or less provided that the UN has been notified at least 20 days in advance.

    The notifications must specify the type, caliber, quantity and serial or lot numbers of the weapons as well as the manufacturer and supplier. And under no circumstances, can the weapons be sold or transferred to third parties, according to the resolution.

    "It remains to be seen when there can be a further easing," said a diplomat. "The hope is there won't be too many weapons entering the country, especially weapons the state cannot control."

    "The number of weapons entering the country must correspond to real needs," the diplomat added.

    The Central African Republic, a country of 4.5 million people, plunged into violence and chaos in 2013 after President Francois Bozize was ousted from power by Seleka rebels. The state controls only a small part of the national territory, as armed groups fight in the provinces over resources like diamonds, gold or livestock.

    Since 2013, the United Nations has enforced a total arms embargo, except for exemptions approved in 2017 with French and Russian backing to equip newly formed army units.

    The UN has 13,000 peacekeepers deployed in the Central African Republic. In February, the government reached a peace agreement with 14 armed groups that led to the formation of a new government that includes representatives of the groups.
     
  8. Jon Alba

    Jon Alba Senior Investor

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    2019-11-29 06:28 MT - News Release

    Ms. Lucy Yan reports

    AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE NINE MONTHS ENDING SEPTEMBER 30, 2019 AND OPERATIONS UPDATE

    Axmin Inc. has released highlights from its unaudited interim financial report for the nine months ended Sept. 30, 2019. All amounts included in this news release are in U.S. dollars.

    Financial results:
    • During the three months ended Sept. 30, 2019, the company did not receive royalty income as the Gora project is now complete. For the nine-month period, Axmin received royalty income of $563,028.
    • The net loss for the three months ending Sept. 30, 2019, was $817,006 of which $689,955 was due to accounting for the issuance of share options to directors and management during the quarter. Net of this allowance, the net loss was $127,051.
    Liquidity and capital resources:
    • As at Sept. 30, 2019, the company had cash on deposit in the amount of $1,396,303.
    Operations update

    Axmin and the government of the Central African Republic (CAR) have been in extensive discussions over the last several months as to the development of the company's Passendro deposit. Both the company and the government of the CAR wish to see a rapid development of the asset, however the security situation in the area surrounding the company's development area has unfortunately not stabilized as quickly as the government and the company anticipated. This is expected to improve in the near term, and in the interim the company is starting activities that are practicable given the current situation.

    Axmin has the requisite equipment in country to commence an initial site survey to further the previously defined site reclamation and rapid production plan. The implementation of this survey is in process and the company will provide timely updates on the social media platforms.

    The company has also identified several humanitarian projects that have high positive social impact but low capital expenditure that are being commenced at this time. It has always been the company's intention to work for the benefit of all stakeholders in the project and improving the lives of the residents in the village near the company's asset is clearly in line with these goals.

    The negotiations as to the choice of strategic partner have also been delayed slightly due to the security situation but talks are on going and meetings will be held in Beijing in early December in this regard.

    About Axmin Inc.

    Axmin is a Canadian exploration and development company with a strong focus on central and West Africa.

    We seek Safe Harbor.

    © 2019 Canjex Publishing Ltd. All rights reserved.
     
  9. Jon Alba

    Jon Alba Senior Investor

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    Central African Republic: Council establishes a civilian advisory mission

    https://www.consilium.europa.eu/en/...cil-establishes-a-civilian-advisory-mission/#

    Council of the EU Press release 9 December 2019 10:45

    Central African Republic: Council establishes a civilian advisory mission

    The Council established a European Union CSDP civilian advisory mission in the Central African Republic (EUAM RCA). The mission will be launched by the Council no later than in the spring of 2020. Accordingly, a core team will make the necessary preparations to allow the mission to reach its initial operating capability.

    The aim of the mission is to support the reform of the internal security forces to enable the Central African Republic (CAR) authorities to mitigate the current security challenges in the country. EU experts will support the Ministry of the Interior and the internal security forces, the police and the gendarmerie, with the aim of helping in their deployment throughout the country.

    In a phased, scalable and modular approach, EUAM RCA will provide advice to the CAR authorities at the strategic level to support the sustainable transformation of CAR internal security forces into a coherent and accountable security provider operating under national ownership. The mission will coordinate closely with the military EU Training Mission (EUTM RCA), the UN MINUSCA mission and the international community.

    The mission will be established in accordance with the crisis management concept (CMC) that was approved by the Council on 21 November 2019 and the subsequent operational planning documents. The CAR will be the third country to receive support in parallel from both military and civilian CSDP missions after Mali and Somalia.
     
  10. Jon Alba

    Jon Alba Senior Investor

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    TGZ Buys Similar Sized Deposit To AXM's Passendro Mine For $380 Million

    Axmins joint venture partner in Senegal announced today that they purchased 90% of a 2.6 million ounce gold deposit from Barrick for $380 million. This is significant for two reasons:

    1) Axmin's Passendro gold mine has a proven resource of 2.5 million ounes, two million being higher grade and the rest lower grade. Regardless, it's similar in size.

    2) Axmin still has a 20% interest in Senegal with Teranga Gold on 338km2 of land, along with 17 royalty targets.

    AXM recently announced going back to site a couple weeks ago to survey Passendro, therefore making the project real again, alongside a meeting with the joint venture partner this month (see latest news release). This is again proof that the company trades at a major discount to it's peers.

    From the Teranga Gold news today:


    Teranga Gold to acquire 90% of Massawa project

    2019-12-10 05:42 MT - News Release

    Mr. Richard Young reports

    TERANGA GOLD TO ACQUIRE HIGH-GRADE MASSAWA GOLD PROJECT, ACCELERATES REPOSITIONING AS LOW-COST, MID-TIER PRODUCER

    Teranga Gold Corp. has entered into a definitive agreement pursuant to which it will acquire a 90-per-cent interest in the Massawa gold project from a wholly owned subsidiary of Barrick Gold Corp. and its joint venture partner, Compagnie Senegalaise de Transports Transatlantiques Afrique de l'Ouest SA (CSTTAO), with the government of Senegal holding the remaining 10-per-cent interest in Massawa. (All amounts are in U.S. dollars unless otherwise stated)

    Massawa is one of the highest-grade undeveloped open-pit gold reserves in Africa (2). It is located within trucking distance of Teranga's flagship Sabodala Gold Mine ("Sabodala") in Senegal, creating the opportunity for significant capital and operating synergies(3). The proximity of the projects and the combination of Sabodala's mill and Massawa's high-grade ore (the "Sabodala-Massawa Complex") are expected to scale Sabodala into a top tier asset.

    "The Massawa acquisition is transformational for Teranga and - by creating a top tier gold complex - the first in the country - an important milestone for the gold mining industry in Senegal," said Richard Young, Teranga's President and Chief Executive Officer. "We anticipate that production from the Sabodala-Massawa Complex, together with our Wahgnion Gold Mine ("Wahgnion") in Burkina Faso, will increase Teranga's targeted consolidated annual gold production and reposition Teranga as the next multi-asset, low-cost, mid-tier gold producer in West Africa, one of the world's premier gold mining regions."

    Total aggregate consideration for the Transaction is $380 million upfront (the "Upfront Consideration") plus a gold price-linked contingent payment (the "Contingent Consideration" and together with the Upfront Consideration, the "Consideration"). The Consideration will be in the form of cash and common shares of Teranga ("Teranga Shares"). See below for details on the financing of the Transaction.

    Transaction Highlights

    Teranga to acquire one of the highest-grade undeveloped open-pit gold reserves in Africa (2)

    The historical mineral reserves base of the Massawa project is 2.6Moz from 20.9Mt at 3.94 g/t Au and is one of the highest-grade undeveloped open-pit gold reserves in Africa. This will augment Sabodala's mineral reserves base of 2.4Moz from 55.7Mt at 1.35 g/t Au (see Appendix, Tables 1 and 2).
     

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