AXMIN Inc V.AXM.H

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.

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AXMIN Inc

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Comment by claritason May 06, 2008 8:20pm

473 Views

Post# 15044621

RE: News Release

Sounds to me like there is room for a win-win situation, especially with the World Bank involved with the country.

Trading the 10% interest for cash and a better royalty could turn out to leave Axmin with sufficient returns and that way all could walk away happy.

On the other hand, at a time when Axmin needs to raise cash this increases the amount it will have to secure.

We shall see. More good driling results and news on the iron ore front could offset some of the potential pain. The management is experienced in these matters and were surely not caught completely by surprise.

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