RE:RE:RE:I have my doubts Passendro will ever be minedI hightly doubt that you will be able to buy back your position in Axmin for lower than 3 cents, despite all your efforts to talk the share price down.
Axmin does not need Passendro to go into production for the share price to appreciate from here.
At $1333 gold price, royalties from Teranga will be C$2 million per year. These revenues are from Senegal which is in West Africa and not from the Central African Republic:
https://www.terangagold.com/English/investors/news/newsreleasedetails/2015/Teranga-Gold-Announces-Receipt-of-Environmental-Approval-for-High-Grade-Gora-Deposit/default.aspx
If you give a 5x multiple on this royalty stream from Senegal, then you get a C$10 million valuation which works out to 7.5 cents per share.
The Passendro project was shown to be very robust at US$1100 gold price with a $340 million NPV, 32% IRR and low cash costs of US$484 per oz. Passendro should be worth another C$10 million (or US$7.5 million) right NOW at least would you say ? This should give a no brainer total valuation of 15 cents per share to Axmin today.
https://www.northernminer.com/news/south-african-dealmaker-roach-finds-us-100m-for-struggling-axmin/1000535923/
>>Should the debt and equity financings go ahead as planned, Roach figures Axmin could put Passendro into production by the end of 2013. With production forecast at 205,000 oz. gold over years one to three, and an average of 163,000 oz. gold over an 8.3-year mine life, Passendro’s economics look robust, even assuming a US$1,100 gold price. The recently updated feasibility study considers conventional open-pit mining using an owner-operator mining fleet, and a 2.8-million-tonne-per-year gravity carbon-in-leach process plant. It estimates an internal rate of return of 32%, a net present value of US$340 million using a 5% discount rate and fairly low cash costs of US$484 per oz.<<