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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Post by Time4TAon Apr 21, 2011 6:31pm

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Post# 18472559

I am BUYING MONDAY - AXM WAY UnderValued

In January 2011, AXMIN reported the results of a revalidated feasibility study (updating their original 2008 study) for the Passendro Project. The feasibility study utilized the mineral resource estimate for the Passendro Project released by Axmin in June 2009. A measured and indicated resource was reported of 31.5 Mt grading 2.0 g/t Au (2.02 million ounces of contained gold) and inferred resources of 21.6 Mt grading 1.6 g/t Au (1.1 million ounces of contained gold). These resources include a total proven and probable reserve of 23.5 Mt of ore at an average grade of 1.9 g/t Au containing 1,446,175 ounces of gold.The project is permitted and Axmin is seeking debt financing for the project.
Map of Bambari Permit, Central African Republic