AXMIN Inc V.AXM

Alternate Symbol(s): AXMIF

Metals & Mining Gold

AXMIN Inc. is a Canadian exploration and development company with a focus on Central and West Africa. The Company, 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. It holds a 100% interest in the Bambari properties, which consists of a mining license (355 square kilometers) and two exploration licenses, Bambari 1 and 2 (1,240 square kilometers). The Passendro Gold Project is situated in the center of the mining license, which is ring-fenced by the two Bambari exploration licenses. The Company, through its joint venture partner and manager, Sabodala Mining Company SARL (SMC) owns approximately 20% interest in Sounkounkou, Heremokono and Sabodala NW exploration licenses (the Project) located in the Birimian belt of eastern Senegal. The Company's subsidiaries include AXMIN Limited (BVI), Aurafrique SARL (CAR), SOMIO Toungou SA (CAR), and others.

TSXV:AXM - Post by User

AXMIN Inc

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Post by wildman2on May 03, 2011 5:28pm

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Post# 18525133

AXM

The 2nd SEDAR report that was linked said they had a working capital of 14.5 million as of December 31, 2010. It also said they will be selling a lot of Avion shares when their holding period ends.

They will need more financing to get Passandro off the ground. The permits are already taken care of, so that is not the problem.

Honestly, I don't really get this. I am open to enlightenment.

I read the letter from the company about 5 to 10 posts back and I guess they are getting priced like they won't get any financing (with gold at 1550.)

Any thoughts would be appreciated. The move from 23 has been pretty swift to a new low today of .095.

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This junior mining stock offers billions in market exposure