# AXM - Axmin Inc.



## TacoTed (28 November 2020)

Due Diligence Report On Axmin Inc. based on Q3 2020 results that were released on November 27th 2020 and are available on Sedar.

Ticker Symbols: AXM (Canada) - AXMIF (USA) - A4JN (Germany)
Price: $0.09
Common Shares: 138,437,381
Insider/Institutional Holdings: 61.1% - See November Company Presentation
Website: www.axmininc.com
November Company Presentation: http://www.axmininc.com/images/AXMIN INC AGM PPT.pdf

Company information: 

AXMIN is a Canadian-based gold exploration company with projects in the Central African Republic (“CAR”) and Senegal. AXMIN is focused on exploring gold projects on the African continent and leveraging partnerships to build shareholder value.

AXMIN’s assets include the Passendro Gold Project in the Central African Republic and the Sabodala Gold Project in Senegal. In 2019, AXMIN successfully concluded a NSR agreement with Teranga Gold and is now working closely with Teranga, the largest gold mining company operating in Senegal, in the development of the Sounkounkou permit.

Gold Assets:

Passendro - 2 million onces gold measured & indicated
Gora - 43k ounces of gold measured & indicated

The company is also looking at new acquisition targets, which is mentioned in the presentation.

Q3 2020 results today were filed and the company had two updates in it's management discussion:

Page 5: The Company has been advised that Presidential and legislative elections will be held simultaneously onDecember 26, 2020, with results to be officially announced one week after the elections. OnNovember 2, 2020, the Company has received notice from Central African State to confirm in participating in the mediation process with the company’s subsidiaries AURAFRIQUE SARL SOMIO TOUNGOU SA. Mediation between the Company and the Central African State is progressing and practical arrangements are being made to resolve the difficulties within a short period of time. The date will be further confirmed from the arbitral chamber. The Company has received notice that the Central African State will be represented by Flavien Mbata, Minister of Justice and Human Rights, and Léopold Mboli Fatran, Minister of Mines and Geology in the arbitration.

Page 7: On November 16, 2020, Endeavour Mining Corporation (TSX:EDV) and Teranga announced that they have entered into a definitive agreement whereby Endeavour will acquire all of the issued and outstanding securities of Teranga. In their joint press release, the companies stated that the combination would “leverage Endeavour’s West African operating model to extract significant financing, operating and capital synergies across all of Teranga’s assets [including] Sabodala-Massawa, in Senegal, to become a flagship asset alongside Ity and Houndé with the potential to become a top tier asset given its high grade, low cost, long mine life, large reserves and significant exploration potential.” The Company is in discussions with Teranga regarding the 5 proposed targets within Bransan Lot C on whether the Company will participate in the exploration, which will include funding 20% of proposed work costs, or elect to convert to a 1.5% net smelter royalty.


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## TacoTed (20 November 2021)

Axmin update regarding the situation in CAR:



			https://cdn-ceo-ca.s3.amazonaws.com/1gpfoal-Axmin%20Document.jpg


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## TacoTed (30 November 2021)

AXMIN Inc. Announces Progress Report on Mediation with the Government of the Central African Republic​​2021-11-29 15:14 ET - News Release




Vancouver, British Columbia--(Newsfile Corp. - November 29, 2021) - *AXMIN Inc.* (TSXV: AXM) ("AXMIN" or the "Company") is pleased to announce a progress report on the mediation process that was initiated by the Company regarding the Passendro Gold Project in the Central African Republic (CAR) to rectify the mining license and two exploration permits, as previously publicly disclosed by the Company including in "Operations - Central African Republic - Passendro Gold Project" in the Company's Management's Discussion and Analysis - Six Months ended June 30, 2021 and 2020.
The President of the CAR, Mr Faustin-Archange Touadera, gave a mandate to Mr Arnaud Djoubaye-Abazene, the Minister of Justice, and to Mr Ruffin Benam-Beltoungou, the Minister of Mines and Geology, to come to an amicable settlement with the Company. Axmin is represented by Mr Boubacar Sidibe and the Company's legal counsel.
AXMIN made its views clear during the mediation held in Abidjan, Ivory Coast as to various solutions regarding the appropriate rectification. The CAR delegation did not contest or dispute the propositions made by the Company but did request the opportunity to return to Bangui, the capital of the CAR, to discuss the possible solutions with the Council of Ministers. The parties to the mediation agreed to a maximum delay to January 29, 2022 to rectify this matter. If this timeline is not adhered to, AXMIN has the right to pursue a binding legal process.
AXMIN Chairman and CEO, Lucy Yan, said, "We are delighted to be working with the representatives of the CAR Government to rectify this matter in an amicable manner. We believe that the mutually successful rectification of this matter will benefit the CAR, all shareholders and all other stakeholders."
We seek Safe Harbour.
*About AXMIN*
AXMIN is a Canadian exploration and development company with a strong focus on central and West Africa. For more information regarding AXMIN, visit our website at www.axmininc.com.
Please follow us on Facebook https://www.facebook.com/axmininc.
This press release includes certain "Forward-Looking Statements." All statements, other than statements of historical fact included herein, including without limitation, statements regarding future plans and objectives of AXMIN and statements regarding the ability to develop and achieve production at the Passendro Gold Project, are forward-looking statements that involve various risks and uncertainties.
There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Important factors that could cause actual results to differ materially from AXMIN's expectations have been disclosed under the heading "Risk Factors" and elsewhere in AXMIN's documents filed from time-to-time with the TSX Venture Exchange and other regulatory authorities. AXMIN disclaims any intention or obligation to update or revise any forward-looking statements whether resulting from new information, future events or otherwise, except as required by applicable law.
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Lucy Yan
CEO and Chairman
ceo@axmininc.com

*General Enquiries*
Investor Relations
ir@axmininc.com
www.axmininc.com


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