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 sgandzaon Apr 04, 2013 3:15pm

157 Views

Post# 21212152

RE: RE: RE: RE: CAR's Transitional Governm

The real question is when will the banks be brave enough to lend to a company in CAR?

That said, I firmly believe this mine will be built - I just hope for our sake it is Axmin that builds it.

I don't think people understand the importance of this mine. Consider the the GDP of CAR (2011 I believe) - $3.2 billion. This mine producing 200000 oz/yr at $1500 /oz is $300,000,000 - that's just the value of the gold, never mind the supporting infrastructure and increase in wages on spending, etc.

So this one mine has the potential to increase the GDP of this country by 10-15%.

If you were the UN trying to promote economic growth in a country as poor as CAR, this would be a great place to focus your efforts. That is why I believe the IFC got involved. That is why I also thought that the WSA may have been talking about Axmin when they announced the setting up of the fund - but who knows now. Getting this up a running would then show others it is safe, and more companies would hopefully get involved in exploring/developing in the country - leading to more growth, etc.

I'm just trying to figure out if it is time to pick up more shares now.

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