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 01, 2011 8:01pm

281 Views

Post# 18893512

RE: RE: Polo Resources buys 51% of Komahun

It will take a large investment by axmin to take its 49% share of Komahun into production, which they have no intention of committing to, since they are 100% focused on getting Passendro into production.

$7.5 million for 51% of Komahun is a really good deal for axmin, since that works out to just over 10% of the entire market cap. And even better If they can sell off the remaining 49% of Komahun for another $7.5 million or so.

By the way Polo is expecting to receive $160 million cash in the next few months after a pending asset closes. They could even finance the $60 million equity portion of the Passendro mine financing if they wanted to.

Note that 3 of the key people in Polo were also key players in Uramin, along with Axmin's CEO George Roach.

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