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AXMIN Inc V.AXM

Alternate Symbol(s):  AXMIF

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

Bullboard Posts
Comment by baystock1on Mar 11, 2012 8:36pm
291 Views
Post# 19656033

RE: RE: RE: IFC participation could be the trigger

RE: RE: RE: IFC participation could be the trigger

I would be all for raising an extra $25 million as a cushion, provided it is raised at a price higher than the last PP which was done at $1.20. If for whatever reason the next PP needs to be done at lower than $1.20 then it would be better to limit it to the minimum that is absolutely needed to meet the requirements of the debt financing lenders. Anything beyond that absolutely required by the lenders could then be deferred by 12 months or so which would still be a year before it could be possibly needed. There is also $15 million that could be raised from the exercise of warrants at $1.80 strike price that expire nov 2012.

Bullboard Posts