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.

TSXV:AXM.H - Post by User

AXMIN Inc

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Comment by mtsuiton Aug 08, 2008 6:07pm

436 Views

Post# 15370531

RE: ITS THE END OF THE LINE FOR AXMIN

With the stock at 20 cents I think they should either sell the company or postpone Passendro mine development.

$50mm market cap for a company with 3mm ounces of resource and great prospects is a bargain. I think the burden of trying to raise $200mm has really depressed the stock. Would be better to cut the burn rate to $5mm, continue to epxlore and expand the resource, and then build the mine when the market is more generous towards juniors.

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