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Bullboard - Stock Discussion Forum 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... see more

TSXV:AXM - Post Discussion

AXMIN Inc > More details about the Russians and Ndassima - 1
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Post by Tree2tree on Dec 22, 2021 8:14pm

More details about the Russians and Ndassima - 1

https://t-intell.com/2018/08/08/murder-of-journalists-exposes-russian-presence-in-the-central-african-republic/

(10) Lobaye Invest is part of the Saint Petersburg based M-Invest Group, which is closely associated with Wagner’s founder Yevgeniy Prigozhin. In recent month, Lobaye has reportedly assumed operations at Ndassima gold mine 60 km north of Bambari. Officially, the Canadian company AXMIN holds the exploitation rights for Ndassima mine as part of the “Passandro Gold Project.” However, in December 2012, the mine was seized by Muslim rebel forces. After their takeover, the rebels have forced the local population to work in the mine, extracting gold through rudimental techniques.     

Satellite imagery shows the two largest queries of the Passandro project area. Ndassima gold can be seen on the left.

(11) As their lack of know-how does not allow the rebels to operate Ndassima mine at full capacity, is is highly likely that they have struck a deal with Wagner, allowing Lobaye to exploit the mine in exchange for a profit share. According to a report by the Russian newspaper Novaya Gazeta, Wagner representatives toured the area around Ndassima mine in April 2018, negotiating directly with rebel leaders. The mercenaries’ activities received public attention, as their Cessna plane was blocked by residents in Kaga-Bandoro. Sources suggest that the three killed journalist were planning to document Wagner’s current presence at Ndassima mine.

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