Company receiving royalties from Teranga and below the radar Another very interesting and undiscovered story is admin inc. (AXMIF)
They own a gold belt in the neighboring country of Central African Republic, which just had a fair election for a new president in February of this year.
Bankable feasibility study was completed few years back on their Passendro project for a 200,000 oz per year low cost open pit gold mine.
Market cap is $5 million and they are receiving royalties from Teranga Gold. In Q1 of this year the royalties were around $500,000 which works out to $1-2 million per year annualized. This royalty is expected to continue for a few more years, so no need for further share dilution until the project is sold or they raise project financing.
3 investors own over 65% of the company so the float is low. 2 of the investors are Chinese and I think/hope this project will get sold to a Chinese SOE.
John Embry of Sprott use to be a big fan of this company