AXMIN is a Canadian-based gold exploration company with projects in the Central African Republic (“CAR”), and a royalty agreement with Teranga Gold in Senegal. The royalty income from the Gora deposit in Senegal has allowed the company to become both profitable and cash flow positive during recent years due to managements’ actions to reduce costs and improve the Company’s balance sheet. 

The main focus of Axmin at this time is to develop the Passendro Gold Project in the CAR as soon as the security situation in country allows it. While the situation remains difficult, the management of Axmin is starting to see positive developments in the CAR. The Company believes that the duly elected government working with MINUSCA will in time bring stability to the country and specifically to the region around Ndassima where the main asset is located. Management remains in close communication with the senior ministers and officials of the government both in Bangui and locally in Bambari and look forward to the time when the Company may reclaim the site to become operational again.