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 Jan 10, 2013 11:12am

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Post# 20820237

RE: Axmin delays mine by at least a year

It may be time for Axmin to look for an alternate plan for salvaging some value for shareholders, such as selling the whole project to somebody with deep pockets who can afford to take the long view and to see this thru into production, say a Randgold or Anglogold or the Chinese. May be they could get $50 million for these assets which would fetch several times this price if they were located in a favorable jurisdiction such as Ghana or Mexico. Not sure if their current agreement with the CAR allows them to sell the project or not.

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