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Axmin Inc's JV Partner, Teranga Gold, To Be Acquired By Endeavour Mining
Endeavour Mining to acquire rival Teranga Gold for $2.44 billion
- Good to see this transaction happen. Teranga Gold has not been able to move fast enough in Senegal due to financial constraints. Now with the combined company, Endeavour can assist better in proving up the JV Sounkoukou claims with Axmin.
Endeavour Mining Corp., the acquisitive gold producer backed by Egyptian billionaire Naguib Sawiris, agreed to buy Teranga Gold Corp. in the latest deal to reshape the sector.
After Barrick Gold Corp. and Newmont Corp. two years ago created behemoths that dwarf the rest of the industry, other gold miners are trying to consolidate to remain relevant to shareholders. Helped by record gold prices, that’s led to a flurry of deals across the sector as smaller producers beef up their scale.
Endeavour said last week it was discussing a “merger of equals style” deal with Teranga after the talks were first reported by Bloomberg. Endeavour is offering 5.1 per cent premium to Teranga’s closing price on Friday, valuing its equity at C$2.44 billion (US$1.86 billion), according to Bloomberg calculations.
The combined company will produce about 1.5 million ounces of gold a year across West Africa, making it one of the 10 largest producers. It also plans to seek a listing on the London Stock Exchange, a long-term goal of Endeavour Chief Executive Officer Sebastien de Montessus.
London has become a go-to destination for gold-miners in the past year as companies seek to fill the gap left by Randgold Resources Ltd., a former investor favorite that delisted when it was bought by Barrick in a deal that set the tone for low or zero premium combinations in the industry.
Since Randgold left, Yamana Gold Inc. and Wheaton Precious Metals Corp. have both secured listings in London, though unlike Endeavour they have not sought premium listings that make them eligible for the FTSE 100 index.
“The combined entity will become a new senior gold producer and enjoy an improved capital markets profile, underpinned by a healthy balance sheet and strong cash flow capabilities to support a sustainable dividend,” de Montessus said in Monday’s statement.
Endeavour is offering 0.47 of its own shares per Teranga share. That means existing Endeavour and Teranga shareholders will own approximately 66 per cent and 34 per cent, respectively, of the combined company.
La Mancha, the vehicle which Sawiris holds his stake in Endeavour, will invest a further US$200 million into the combined company, leaving it with a 19 per cent stake. Teranga’s biggest shareholders, including Barrick, support the deal.
A successful deal would extend a years-long transformation by Endeavour, which has replaced high-cost mines with two new flagship projects that produce more gold and will operate for much longer. Teranga has assets in Senegal, Burkina Faso and Ivory Coast, including the Massawa project it bought from Barrick.
The deal is expected to close in the first quarter of 2021.
Axmin Inc. November 12th 2020 Company Presentation -
Date Insider Name Ownership
Type Securities Nature of transaction Volume or Value Price
Sep 18/20 Sep 15/20 Yan, Xiaqing Direct Ownership Common Shares 51 - Exercise of options 1,500,000 $0.025
Sep 18/20 Sep 15/20 Yan, Xiaqing Direct Ownership Options 51 - Exercise of options -1,500,000 $0.025
Sep 18/20 Sep 15/20 Tai, Joe Kin Foon Direct Ownership Common Shares 51 - Exercise of options 375,000 $0.025
Sep 18/20 Sep 15/20 Tai, Joe Kin Foon Direct Ownership Options 51 - Exercise of options -375,000 $0.025
axmin one total failure to achieve story always was always will be take what you can and get out it will be gone before the end of the year the property is long gone and not coming back
take what you can and get out they are already looking to sell the shares and in Canada axmin is the most scammed stock by a handful of posters that were really were only one all caught and suspended from posting on the web site www,ceo.com have a look like i did its amazing the scam yahoo finance is invested with them also
Why pay .10cdn when directors bought several millions share this month at .0025 cents yes thats right check at
Here is an update on Senegal and CAR, with regards to Axmin's involvement.
Senegal - As mentioned last time, Teranga Gold announced an updated mineral report. This report did show 4 new targets that AXM owns 20% interest in(Page 88 in the 43-101 from Teranga), unless convereted to a royalty. But on top of that, if you look closer at the report, there is still 50,000 ounces of gold left at Gora, which is a target that has already produced over 400,000 ounces of gold and paid Axmin millions in royalties(see Page 256 in the 43-101 from Teranga). So at $2,000 gold, this is another $1.5 million USD in revenue that Axmin still has to collect.
CAR - Today an important article came out which shows the United States sanctioning Russian companies in the Central African Republic. This is important because the transaction that would of occured in regards to the sale of Passendro to Midas(Russian Company) can no longer occur. This puts Axmin in a stronger negotiating position with regards to getting back both the Passendro mine and expansion leases. Only Russia and China have worked in CAR for the last several years, making Axmin one of the only true feasible options of getting the gold mine in production.
Link to new article:
From the last MD&A: On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.
.0025 option go free trading today caution is in order
Outstanding Options and Warrants (as of December 31, 2019)
Number of options
September 17, 2020
September 24, 2022
July 1, 2024
The End Is Near For Axmin Its Over gone by year end..
axmin lost the property to the rebels over ten years ago , they also wrote the investment off in full at that time, nothing and i mean nothing has been done in those ten years other then a story, and all it was a story, fast forward ten years the country the C A R took the property off of axmin this january and gave it too another firm with a russian background, axmin is trying through the courts to try too get it back in africa you say , another story
its over for axmin a fair in africa you say , you have a better chance of getting a soparno satin doll then that happen
axmin will be gone before the end of the year, it should have been gone ten years if it wasnt for the lies and scams.
The Government of the Central African Republic (CAR) Announces a Peace Agreement with Armed Groups
Vancouver, British Columbia--(Newsfile Corp. -February 12, 2019) - AXMIN Inc.(TSXV: AXM) ("AXMIN" or the "Company") notes the following news release.
OnSaturday February 2, 2019 the Government of the CAR announced on social media that an agreement for peace had been made at the talks taking place in Khartoum. The Government stated that the agreement would be initialed on Sunday February 3, 2019 and thereafter it was signed in Bangui onFebruary 6th.
The agreement comes after discussions that were facilitated in Khartoum by the African Union and the Untied Nations with assistance from Russia. The key points of this agreement are:
An immediate cessation of violence by the armed groups against defense and security forces, UN personnel, humanitarian workers and the general population.
The armed groups will respect the legitimacy of the CAR's institutions and will disband.
The Government will analyse the reintegration of the leaders of the armed groups who previously served as civil servants or in the military.
The Government will set up a Truth, Justice, Reparation and Reconciliation Commission within 90 days.
The parties to the agreement will undertake to set up mixed security units that will include both the defense and security forces as well as former members of the armed groups.
A Prime Minister will be appointed drawn from a representative of the former armed groups.
The former armed groups will have the right to start political parties without hindrance.
Ambassador Smail Chergui, the African Union Commissioner for Peace and Security stated on social media:
… I am humbled to announce that with the exemplary cooperation I received from both the Government of the CAR(@GouvCF) and the 14 armed groups, we have secured a#peaceagreementtodayin the interest of the people of#CAR.
Separately onThursday January 31, 2019 the United Nations Security Council voted unanimously on a resolution drafted by France that provides for a road map to lift the arms embargo on the CAR. This resolution states that the Council will establish requisite benchmarks byApril 30, 2019 and will assess progress on these benchmarks byJuly 31, 2019. The Council will then review the arms embargo measures bySeptember 30,2019.
The resolution welcomes 'the significant efforts made by the CAR authorities' to advance security sector reform, including by developing a national defense plan and national security policy. This resolution acknowledged 'the urgent need for the CAR authorities to train and equip their defense and security forces to be able to respond proportionately to threats to the security of all citizens in the CAR.' The Council stated that it had granted several exemptions to allow shipments of weapons from France, Russia, China, the United States and Belgium for the CAR's army.
AXMIN's Chairman and CEO Lucy Yan stated:
AXMIN is delighted to hear that a peace agreement has been reached in Khartoum and hope that this agreement will be honored and bring security and stability to the CAR. The Company believes that the combination of the agreement together with the eventual lifting of the arms embargo should provide both the framework for stability and also the effective method of enforcement by equipping and deploying the military forces of the Government of the CAR. We look forward to being back on site and working on developing the Passendro asset as soon as conditions allow in the near future.
A further press release regarding the security situation in Ndassima, the location of the Company's Passendro asset, will be made when appropriate to do so.
AXMIN is a Canadian exploration and development company with a strong focus on the African continent. AXMIN continues to closely monitor the political situation at its Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website a
. Please also follow us on Facebook.
For additional information, please contact AXMIN Inc.:
Chairman and CEO
David de Jongh Weill
Chief Financial Officer and Corporate Secretary
+65 9781 8281
Information Regarding “Au Group Ltd” – Axmin Inc’s Joint Venture Partner
Axmin Inc.(AXM.V) announced on January 20th 2020 that their “first” strategic partner would be a company named “Au Metals Ltd” which is a subsidiary of “Au Group Ltd”. This was great news, but the issue was that “Au Group Ltd” is a private company (limited information online) and therefore many shareholders did not know the financial push that they could assist Axmin with. This is why the stock did not get the true value appreciation it deserved. There was obviously some confidentiality agreement signed where they could not disclose more information regarding “Au Group Ltd”. On March 3rd 2020, a small update stated that things have progressed with the Joint Venture partner. Then on April 27th 2020, the company had announced a postponement to the financials and an update due to COVID-19 and auditor delays.
In the meantime, I have tried several times to research this “Au Metals Ltd” with little luck. This is understandable because it’s private, so I decided to try and look for “Au Group Ltd” instead. Being the parent company, this would give a good indication as to what kind of projects or investments this private group does. After much time spent researching, I found some great content which connects this group to what Axmin has stated. Not only is “Au Group Ltd” part of a state owned enterprise, but their treasury is likely in the billions. This is why Axmin likely chose them as a partner after having numerous offers, as stated in a news release on May 6th 2019.
Note: “Au Group Ltd” also goes by the name “Aomei Group Co” which is stated in the registration below. Even with all the names researched “Aomei Group Co”, “Au Group Ltd”, “Au Metals Ltd”, “Au Ventures Ltd” there still isn’t tons of information. Either way, these are all the articles I could find. If I looked up “Aomei Group Co” articles would show up with the name “Au Group Ltd”
Axmin News Release:
Axmin Inc. has signed a letter of intent for the development of its Passendro gold asset in the Central African Republic (CAR) with Au Metals Ltd., a subsidiary of the Au Group Ltd. Au Metals is a gold and copper mineral focused venture capital firm established in 2015 in Hong Kong, special administrative regions, and the British Virgin Islands. Au Metals, through its related company Au Ventures Ltd., operates venture capital funds. Au Metals has been involved with numerous mining companies. Au Metals' team also has operational experience in projects throughout Asia, Africa, North America and Australia. Au Metals is well connected in the mining industry, and has close relationships with corporate and state-owned enterprise mining operations and investors in the Asia region. Au Metals maintains offices in Hong Kong, Beijing, Sydney, Melbourne, Perth and Brisbane.
Au Group Ltd Registration:
Au Group Limited was established in Hong Kong on February 16, 2015. The company number is: 2204323, which belongs to a private limited company. The company's annual review date is after the establishment of the next year, from February 16 to March 30 every year. As of today, the company has operated for 5 years, 3 months and 0 days.
Article From China Daily In 2016:
Important Segment: Recently, Beijing Real Estate Market Co., Ltd., together with Au Group Ltd and Kuafu Properties, held a real estate investment appraisal meeting at No. 1289 in Lexington, Manhattan s Upper East Side. The project is located at the intersection of 86th Street and Lexington Avenue in the Upper East Side of Manhattan. It is in the core commercial and high-end residential area. The 10028 postal area is one of the richest areas in the United States and Manhattan. It has 18-storey luxury apartments and 3-storey corner retail shops. We have received a letter of intent for a world-renowned brand for 15 years.
Shanghai Real Estate site that mentions Au Group Ltd:
Important Segment: Beijing Real Estate Market Co., Ltd. joined with Au Group Ltd., and affordable housing is a government-sponsored project to solve the housing problems of low-income and lowest-income families. Hefei Apartment ranked among the top six in Chengdu.
About Kuafu Properties:
Kuafu Properties LLC is a privately held, fully integrated real estate development and investment company based in New York City. Kuafu was established with the vision of being the ultimate bridge between Chinese and other international investors to the overseas real estate market in the United States. This bridge has been established by building a team of local market experts (investment, development, construction, sales & marketing
2019-11-29 06:28 MT - News Release
Ms. Lucy Yan reports
AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE NINE MONTHS ENDING SEPTEMBER 30, 2019 AND OPERATIONS UPDATE
Axmin Inc. has released highlights from its unaudited interim financial report for the nine months ended Sept. 30, 2019. All amounts included in this news release are in U.S. dollars.
During the three months ended Sept. 30, 2019, the company did not receive royalty income as the Gora project is now complete. For the nine-month period, Axmin received royalty income of $563,028.
The net loss for the three months ending Sept. 30, 2019, was $817,006 of which $689,955 was due to accounting for the issuance of share options to directors and management during the quarter. Net of this allowance, the net loss was $127,051.
Liquidity and capital resources:
As at Sept. 30, 2019, the company had cash on deposit in the amount of $1,396,303.
Axmin and the government of the Central African Republic (CAR) have been in extensive discussions over the last several months as to the development of the company's Passendro deposit. Both the company and the government of the CAR wish to see a rapid development of the asset, however the security situation in the area surrounding the company's development area has unfortunately not stabilized as quickly as the government and the company anticipated. This is expected to improve in the near term, and in the interim the company is starting activities that are practicable given the current situation.
Axmin has the requisite equipment in country to commence an initial site survey to further the previously defined site reclamation and rapid production plan. The implementation of this survey is in process and the company will provide timely updates on the social media platforms.
The company has also identified several humanitarian projects that have high positive social impact but low capital expenditure that are being commenced at this time. It has always been the company's intention to work for the benefit of all stakeholders in the project and improving the lives of the residents in the village near the company's asset is clearly in line with these goals.
The negotiations as to the choice of strategic partner have also been delayed slightly due to the security situation but talks are on going and meetings will be held in Beijing in early December in this regard.
About Axmin Inc.
Axmin is a Canadian exploration and development company with a strong focus on central and West Africa.
We seek Safe Harbor.
© 2019 Canjex Publishing Ltd. All rights reserved.
AXMIN Announces Changes in Board of Directors and Management
2020-03-02 06:00 MT - News Release
Vancouver, British Columbia--(Newsfile Corp. - March 2, 2020) - AXMIN Inc. (TSXV: AXM) (the "Company" or "AXM") announces the resignation of its Chief Financial Officer and member of the Board of Directors, Mr. David de Jongh Weill, effective February 28, 2020.
"It has been very satisfying to see how this Company has evolved over the past year. I'm excited to pass on the baton to my successor and will be actively following the progress of the company," says Mr. Weill.
CEO and Chairman of AXMIN, Ms. Lucy Yan, comments, "On behalf of the entire Board of Directors, I would like to thank David for his many contributions to AXMIN over the past years and we wish him all the best in his other ventures."
The Company would also like to announce the appointment of Ms. Terry Wong as a director of the Company, subject to the approval of the TSX Venture Exchange.
Ms. Wong is a Chartered Professional Accountant and a Chartered Business Valuator. She has over 15 years of financial experience working for both private and public companies. She has also worked closely with companies and professionals within the finance, mining, and energy industries. Ms. Wong has advanced knowledge of Canadian GAAP and IFRS regulations.
Ms. Yan comments, "We are pleased to welcome Terry to AXM's Board of Directors. We are confident that Terry's expertise with both the Greater Chinese and Canadian capital and public markets will service AXM well as the company moves forward with its partnership with AU Metals Limited."
The Company would also like to announce the appointment of Ms. Yan as Interim CFO while a suitable replacement is found.
AXMIN is a Canadian exploration and development company with a strong focus on the African continent. AXMIN continues to closely monitor the political situation at its Passendro Gold Project in the Central African Republic. For more information regarding AXMIN visit our website at
. Please also follow us on Facebook.
For additional information, please contact AXMIN Inc.:
Chairman and CEO
Background of Terry Wong:
VP of Business Development
Company NameNAI Interactive Ltd.
Dates EmployedMay 2011 – Present
Employment Duration8 yrs 11 mos
LocationVancouver, Canada Area
o Has in-depth experience in a variety of industries, including mining, oil and gas, life science/health care, and technology.
o Provide or assist the strategic development, internal valuation, relevant due diligence and marketing support for start-ups, small and medium enterprises and publicly-listed companies in North America
o Outreach and relationship building for North America companies with parties in the Asia Pacific region that would be suitable for a strategic relationship, partnership, distribution, licensing, offtaking, manufacturing, or joint venture arrangement
o Assist in the formulation of a corporate restructuring plan, serve as interim CFO for listed companies during transition if required
o Coordinate different associates including lawyers, administrators, and auditors in taking projects public on the TSX or TSX-V Exchange
Information regarding NAI Interactive:
NAI Interactive Ltd. (NAI), established in 1998, is a leading market intelligence and investor relations service provider for fast growing public companies trading on the North American stock exchanges. Our goal is to serve as a bridge between public companies and Chinese investors, nurturing investor loyalty and form functional networks via our unique platform. Throughout the years, NAI has established itself as the most trusted firm in providing market insights to Chinese investors. We strive to provide a more powerful platform for companies and investors to connect with each other.
The 3 Strengths of NAI500
Extensive Experience in the Business
With 15 years in the IR business, NAI excels in the field of investor relations and market intelligence. Our professional team is specialized in targeting companies and connecting promising opportunities with investors.
Comprehensive Coverage of the Market
NAI hunts for investment opportunities from the perspective of an investor. Our extensive experience in the industry has helped build a vast network and ensures our access to the best market information in quantity and quality.
Our expertise in aggregating and distributing information has made us one of the most trusted sources to obtain company updates and analyses that are most important and relevant to investors.
Axmin signs Passendro development LOI with Au Metals
2020-01-20 07:12 MT - News Release
Ms. Lucy Yan reports
AXMIN ANNOUNCES LETTER OF INTENT WITH FIRST STRATEGIC PARTNER
Axmin Inc. has signed a letter of intent for the development of its Passendro gold asset in the Central African Republic (CAR) with Au Metals Ltd., a subsidiary of the Au Group Ltd.
AU Metals is a gold and copper mineral focused venture capital firm established in 2015 in Hong Kong, SAR and the BVI. AU Metals through its related company AU Ventures Limited operates venture capital funds. AU Metals have been involved with numerous mining companies. AU Metals' team also has operational experience in projects throughout Asia, Africa, North America, and Australia. AU Metals is well connected in the mining industry and has close relationships with corporate and state-owned enterprise mining operations and investors in the Asia region. AU Metals maintains offices in Hong Kong, Beijing, Sydney, Melbourne, Perth, and Brisbane.
Axmin has agreed with AU Metals to work together on the results of the ongoing site survey to define a scoping study based on the situation on site, the results and implications of illegal mining activity and the past exploration and geological analysis performed by the company. The Company will work with AU Metals to define what equity capital and debt facility will be required to implement the project in the CAR
Dr. Wei Jin, executive president and managing partner of AU Metals stated, "We are excited with the prospect of collaborating with Axmin on its Passendro Gold Asset. AU Metals has the expertise to help bring the asset to the next level and we feel that our networks in the mining industry can help this partnership realize success."
Axmin Chairman and CEO Lucy Yan said, 'We are delighted to be working with AU Metals to accelerate the development of the Passendro Gold Asset. The Company values the extensive track record and expertise of AU Metals and are confident that working with this strategic partner will ensure a successful realisation of the project for the benefit of all shareholders and stakeholders concerned.'
Axmin is a Canadian exploration and development company with a strong focus on central and West Africa. Axmin is positioned to grow in value as it progresses its Passendro Gold Project towards development and builds on its project pipeline focusing on transitioning from an explorer to producer.
We seek Safe Harbor.
© 2020 Canjex Publishing Ltd. All rights reserved.
Some important things to note today:
1) David Weill the CFO exercised nearly $80,000 worth of options in Axmin Inc. Based on his already outstanding position of 1.7 million shares, he now has more than double that in common shares. To date he has not sold a single share in 9 years of being a director :
2) It's been a year since the peace agreement and much of the Central African Republic is under State Authority again, with the exception of the far north. At this point in time, FACA/MINUSCA are finishing this area off and it is my belief that we will see all of the Central African Republic under state authority by the summer time:
Axmin's Passendro property is in the center of the country, within the secured zone.
3) Next Thursday, the Bangui Mining Expo will begin. This is the first international promotion of CAR since 2011. This will change the tide of investment sentiment towards the country.
: official site (French)
- article from the CAR government website:
Mon 2/17/2020 - 12:00
Following his participation in Captown in South Africa in the INDABAH Mining forum, The Minister of Mines and Geology, Léopold MBOLI FATRAN held a press point in his cabinet.
According to the Member of the Government, this great forum which brings together all the actors of the mining sector of Africa and the investors of the whole world enabled him to promote SEMICA Central African Republic, the Exhibition of Mines and Petroleum in Central African Republic with the exhibitors. The said Fair will be held under the patronage of the Head of State, HE Professor Faustin Archange TOUADERA, from February 27 to 29 in Bangui.
This forum also allowed several bilateral meetings, the Minister of Mines and Geology met the Canadian Minister of Mineral Resources, during their interview they talked about current affairs concerning the two countries and the strengthening of their bilateral cooperation. met with emissaries from Botswana who confirmed the upcoming arrival of Botswana experts who will be responsible for assessing the Central African mining production system. He also met the South African Minister of Mineral Resources who has renewed the confidence his government has in the mining sector of the Central African Republic, he also promised to intensify the cooperation that already exists between the two countries through an agreement signed two years ago.
4) Gold is currently at $1,620 USD per ounce and Axmin has a proven reserve of 2 million ounces, yet the stock is trading at a yearly low. This would be ideal time to reassess the company, the country it operates in and the asset it carries. Also remember that Axmin owns a large position in Senegal as well.
Q2 results came out last friday and it looks like progress is being made on Passendro and the Bambari expansion leases, as per the MD&A highlight below. Also keep in mind that Axmin Inc has updated their website which is nice to see, so hoping for a new company presentation soon. Teranga Gold is drilling/sampling on our JV claim and we have 4 new targets, with a total of 20 now.
Page 6 on the MD&A:
On June 8, 2020, Aurafrique and Somio Tongou, through its lawyers, Cabinet Mboli-Goumba & Associes, filed a request for arbitration with the government of the Central African Republic and the Chambre Arbitrale Internationale de Paris for its permits On July 24, 2020, the Ministry of Mines and Geology of the Central African Republic accepted the request from Aurafrique and Somio Tongou for arbitration with the Chambre Arbitrale Internationale de Paris for the status of their properties. On August 18, 2020, the parties agreed that the location of the arbitration be the city of Abidjan, Côte d’Ivoire.
This thing is holding steady at $0.55
UN slightly eases arms embargo on Central African Republic
CAMEROON, Cameroon — The U.N. Security Council voted Friday to slightly ease the arms embargo against the Central African Republic, with Russia and China abstaining because they wanted a greater easing of the weapons ban to help the government’s forces combat armed groups and protect the population.
The vote on the French-drafted resolution — 13-0 with the two abstentions — followed contentious negotiations in the 15-member council over the extent the arms embargo should be eased. At one point Russia presented a rival draft resolution, diplomats said.
Acting U.S. Deputy Ambassador Cherith Norman Chalet expressed deep concern after the vote that Russia’s ambassador to Central African Republic had publicly stated that council members that disagreed with Moscow’s position opposed peace in the country and were against the interests of its people.
“In fact nothing could be further from the truth,” she said.
While council members differ over the elements of an effective sanctions regime, Chalet said, “all of us are engaged on this matter because we want to see peace and security in the Central African Republic and elevate the interests of the Central African people.”
Central African Republic has faced deadly interreligious and intercommunal fighting since 2013, when predominantly Muslim Seleka rebels seized power in the capital, Bangui. Mostly Christian anti-Balaka militias fought back, resulting in thousands of people killed and hundreds of thousands displaced. The impoverished country saw a period of relative peace in late 2015 and 2016 but violence intensified and spread afterward. In February 2019, the government signed a peace agreement with 14 armed groups.
In response to the peace agreement and progress in reforming its security sector, the Security Council gave a green light last September for the country’s security forces to be supplied with weapons with a calibre of 14.5 mm or less, and ammunition for them, with at least 20 days advance notification and specific requirements including that they not be transferred or sold.
The resolution adopted Friday goes further, allowing the government forces to be supplied with military vehicles and vehicles mounted with weapons with a calibre of 14.5 mm or less, with the same notification procedures.
The previous arms embargo was extended for one year but Friday’s resolution only extends it for six months, until July 31, 2020.
It requests Secretary-General Antonio Guterres, in close consultation with the U.N. peacekeeping mission in the country and the panel of experts monitoring sanctions, to report by June 30 on the government’s progress in implementing benchmarks that could guide a review of the arms embargo. These include security sector reform, the demobilization and reintegration of combatants, and the management of weapons and ammunition.
France’s Deputy Ambassador Anne Gueguen told the council after the vote that “against a security backdrop which is still unstable” it’s important that the council assist Central African authorities toward meeting the benchmarks, which is “a key element for enduring peace and security” in the country.
Niger’s U.N. Ambassador Abdou Abarry, speaking on behalf of the three African council members including South Africa and Tunisia, said the resolution “will pave the way for armed forces to reequip themselves so they can regain control over the entire country and push back the armed groups that continue to threaten peace and security.”
The Central African Republic’s government has called for the lifting of the arms embargo.
Russia’s Deputy Ambassador Dmitry Polyansky and China’s Deputy Ambassador Wu Haitao said the Security Council should have gone further in easing sanctions.
“The arms embargo against the Central African Republic might have been beneficial at the early stages,” Polyansky said. “However, currently it is, de facto, an obstacle to the rearming of the national army and the security forces — the very institutions that bear the primary responsibility for ensuring security and peace of their own citizens. Meanwhile, the spoilers of the peace process have no obstacles when it comes to obtaining arms through trafficking.”
He said Russia intends to review the sanctions in July when the arms embargo must be renewed again “with a view to their easing and ultimately their full lifting.”
Wu said the council should lift sanctions “at an early date,” citing improving security in the country and progress on meeting the benchmarks.
Edith M. Lederer, The Associated Press
Come on Axmin
You are setting everything up perfectly for the price breakout.
This is going to be a great few months/year.
TGZ Buys Similar Sized Deposit To AXM's Passendro Mine For $380 Million
Axmins joint venture partner in Senegal announced today that they purchased 90% of a 2.6 million ounce gold deposit from Barrick for $380 million. This is significant for two reasons:
1) Axmin's Passendro gold mine has a proven resource of 2.5 million ounes, two million being higher grade and the rest lower grade. Regardless, it's similar in size.
2) Axmin still has a 20% interest in Senegal with Teranga Gold on 338km2 of land, along with 17 royalty targets.
AXM recently announced going back to site a couple weeks ago to survey Passendro, therefore making the project real again, alongside a meeting with the joint venture partner this month (see latest news release). This is again proof that the company trades at a major discount to it's peers.
From the Teranga Gold news today:
Teranga Gold to acquire 90% of Massawa project
2019-12-10 05:42 MT - News Release
Mr. Richard Young reports
TERANGA GOLD TO ACQUIRE HIGH-GRADE MASSAWA GOLD PROJECT, ACCELERATES REPOSITIONING AS LOW-COST, MID-TIER PRODUCER
Teranga Gold Corp. has entered into a definitive agreement pursuant to which it will acquire a 90-per-cent interest in the Massawa gold project from a wholly owned subsidiary of Barrick Gold Corp. and its joint venture partner, Compagnie Senegalaise de Transports Transatlantiques Afrique de l'Ouest SA (CSTTAO), with the government of Senegal holding the remaining 10-per-cent interest in Massawa. (All amounts are in U.S. dollars unless otherwise stated)
Massawa is one of the highest-grade undeveloped open-pit gold reserves in Africa (2). It is located within trucking distance of Teranga's flagship Sabodala Gold Mine ("Sabodala") in Senegal, creating the opportunity for significant capital and operating synergies(3). The proximity of the projects and the combination of Sabodala's mill and Massawa's high-grade ore (the "Sabodala-Massawa Complex") are expected to scale Sabodala into a top tier asset.
"The Massawa acquisition is transformational for Teranga and - by creating a top tier gold complex - the first in the country - an important milestone for the gold mining industry in Senegal," said Richard Young, Teranga's President and Chief Executive Officer. "We anticipate that production from the Sabodala-Massawa Complex, together with our Wahgnion Gold Mine ("Wahgnion") in Burkina Faso, will increase Teranga's targeted consolidated annual gold production and reposition Teranga as the next multi-asset, low-cost, mid-tier gold producer in West Africa, one of the world's premier gold mining regions."
Total aggregate consideration for the Transaction is $380 million upfront (the "Upfront Consideration") plus a gold price-linked contingent payment (the "Contingent Consideration" and together with the Upfront Consideration, the "Consideration"). The Consideration will be in the form of cash and common shares of Teranga ("Teranga Shares"). See below for details on the financing of the Transaction.
Teranga to acquire one of the highest-grade undeveloped open-pit gold reserves in Africa (2)
The historical mineral reserves base of the Massawa project is 2.6Moz from 20.9Mt at 3.94 g/t Au and is one of the highest-grade undeveloped open-pit gold reserves in Africa. This will augment Sabodala's mineral reserves base of 2.4Moz from 55.7Mt at 1.35 g/t Au (see Appendix, Tables 1 and 2).
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