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axm.v (axmin inc.) is the most undervalued soon to be intermediate gold producer and here is why: -great management with established track records. The biggest shareholder with 30% are the same people behind Addax Petroleum which a year or two ago got sold to the Chinese for over $6 billion. Also with the recent merger with aim listed Afnat, they picked up the new CEO George Roach who has the African experience and abilities to take the company to the next level as an intermediate gold producer. Roach was one of founders of UraMin which got sold to Areva for $2.5 billion. -asset base that can take them to 200,000 oz per year gold production with their first gold mine within 2 years (BFS already completed) and then on to 500 – 600,000 oz per year level in the subsequent years with their second and third gold mines. -absurdly low market cap of only C$82 million. Assuming 1.5 billion shares outstanding post mine financing, the $200 million per year cash flow from their first mine at Passendro works out to 13 cents per share. They can reinvest this cash flow to expand production to 300,000+ oz/yr at Passendro and also to bring a second goldmine online with very little further share dilution, thus increasing cash flow per share to around 30+ cents per share 5-6 years out. Share price is now only 14 cents. Management: George Roach President and Chief Executive Officer Mr.Roach, the former President and CEO of AfNat, has been involved in the mineral exploration industry in sub-Saharan Africa for many years. He has extensive experience in securing and establishing mineral exploration tenure and operations throughout Africa namely, Central African Republic, South Africa, Chad, Mali, Namibia, Zambia and Tanzania to a name a few. Mr. Roach was a founding Director and Managing Director Africa for UraMin Inc., a uranium resource company with operations in Namibia, South Africa and Central African Republic. UraMin was sold for US$2.5 billion in 2007 to Areva. Mr. Roach maintains interests in G&B African Resources Ltd, a mineral exploration company and in African agricultural projects, including a sugar estate in CAR under development and spice trading and milling operations in South Africa. major shareholder Jean-Claude Gandur of AOG: forbes.com Trouble Is My Business Christopher Helman 10.15.07, 12:00 AM ET Billionaire Jean-Claude Gandur has braved war and corruption to build an oil empire on the cheap. The company even branched out into gold mines (Gandur is chairman of Toronto-listed Axmin). miningweekly.com CAR officials in show of support for Axmin gold project Fact sheet: axmininc.com Presentation at recent conference in Denver: gowebcasting.com 2010 AGM webcast: gowebcasting.com Peer comp to juniors with a minimum 1 million ounces by Danny Deadlock for Stockhouse Ticker Trax: stockhouse.com 90 second CEO clip: youtube.com theaureport.com{id "I’ve really been keen on AXMIN. It’s got probably three million ounces in the Central African Republic. AXMIN is extremely well-placed, I think. It has just over 200 million shares and trades about 80 cents. But given the number of ounces it’s got in the solid resource category in Central African Republic, as well as they’ve got unfolding resources in both Mali and Sierra Leone, it’s a fascinating African play."(11/29/07) - JOHN EMBRY, SPROTT ASSET MANAGEMENT "Going a little further afield, there's AXMIN (AXM.TSX.V). It just got annihilated. They have four million ounces in the Central African Republic. It was at $1.40 and is now down to $.15. You’re buying the people because they discovered the Geita Mine, now in production in Tanzania, which is one of the more successful mines in Africa. This is the best exploration team in Africa. They’ve got this project in the Central African Republic with a proven reserve and, then another one in Ghana and a third in the Sierra Leone, which they’re moving forward.The stock has been blasted, but they’ve got Audax Petroleum, one of the big Swiss oil companies, which owns 50% of this company, to back stop to any extent required. There's no financing risk; they have assets;and the best mine-finding team in Africa. You get all this for $30million." - The Gold Report Interview with John Embry, Sprott Asset Management (09/12/08) Links on Central African Republic: CSIS panel discussion video on CAR. Somewhat long winded but gives a good flavor of current situation (as of late 2010) in the country and of the increased international attention it is getting: vodpod.com | ||||||||||||||
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