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 baystock1on Aug 28, 2010 9:55pm

305 Views

Post# 17393369

RE: Very high volume

My thinking is that this shareprice weakness is related to the axmin/afnat merger. 200 million axmin shares went to former shareholders of afnat. I believe there are many retail shareholders of Afnat (which had an aim listing) who are not prepared to hold onto the axmin shares that they got in exchange, since axmin is only listed in Canada. They basically want out, so that they could move their funds back into something listed on their home exchange. I imagine it would be the same for a canadian investor if their company got bought out by another that was listed only in Australia or on Aim. Though the merger happened several months ago, I think the whole process for afnat shareholders to get axmin shares and then to be able to liquidate them in Canada has taken this amount of time. And the operative word here is liquidate not sell. Just a hunch sparked by something I read here on the internet...a query by an Afnat shareholder asking how he could get his money back:

https://boards.thisismoney.co.uk/tim/threadnonInd.jsp?forum=85&thread=106174

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