Posted by ProfitableStocksOnly > 2018-05-17 17:47 | Report Abuse

AXM.V Year End Results. (Finacials + MD&A) Ending December 31st 2017 All Information Can Be Found On www.Sedar.com Price: $0.14 Common Shares: 130,497,381 Options: 8,240,000 Insider/Institutional Holdings: 82,089,114 – 63% Financials For 2017 – All Numbers Are In USD. 2016 Comparison Numbers Added Multiply By 1.28 To Get CAD Value ASSETS($USD) Cash: $1,115,331 (2016 - $270,238) Receivables: $610,477 (2016 - $133,799) Prepaid Expenses: $12,934 (2016 - $12,084) Total Assets: $1,738,742 (2016 - $516,121) LIABILITIES($USD) Accounts Payable: $2,440,820 (2016 - $2,448,203) Amounts Due To Related Parties: $190,355 (2016 - $180,979) Liabilities Of Discontinued Operations: $323,103 (2016 - $323,103) Total Liabilities: $2,954,278 (2016 - $2,952,285) Revenue($USD) Royalty Income: $1,585,578 G&A Expenses: $388,268 Net Income: $1,141,752 2017 Net Income Converted Into Earnings $1,141,752USD X 1.28CAD = $1,461,443 CAD earnings for 2017 $1,461,443 / 130,497,381 = $0.011 cents earnings per share in CAD MD&A Highlights Operations Central African Republic – Passendro Gold Project The Company’s primary asset is the Passendro gold project, which is situated in the centre of a 25-year Mining License (355 sq km) that was awarded to AXMIN in August 2010. At the same time, the Company was also awarded two, three-year renewable Exploration Licenses, Bambari 1 and 2 (1,240 sq km), which ring fence the Mining License and cover a 90 km strike along the highly prospective Bambari greenstone belt. November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued the Ministerial Order No 246/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year for exploration and research of the primary layer of gold and others related to substances of Licenses of BAMBARI 1 and 2 to Aurafrique SARL, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within duration of one year from November 28, 2016 to November 27, 2017. In 2016, the Company incurred $1,000,000 for the extension of the licenses of BAMBARI 1 and 2, which is included in accounts payable and accrued liabilities in consolidated statements of financial position as of December 31, 2016. On March 26, 2018, the Minister of Mining and Geology issued an executive order No 032/18/MMG/DIRCAB/DGM to grant Aurafrique SARL an extension period of exemption from exploration and research for one (1) year, running from March 22, 2018 to March 21, 2019. The Company through its in-country staff have maintained close communications with senior ministers and officials in Bangui and also in Bambari which is the closest city to the Company’s asset near Ndassima. AXMIN’s country manager Mr Boubacar Sidbe recently meet with the Vice Mayor of Bambari and Sub-prefect to discuss the situation on the ground and express the Company’s desire to get back on site. Meetings have also been held with the Mining Minister and Chief of the Office of the Head of State. AXMIN remains confident that stability will eventually return to the country and that the Company will be well positioned and ready to work with the elected government of the CAR to develop a pragmatic mining plan focusing on the extremely high-grade deposits that will be safe for our employees and contractors, have limited capital expenditure and hopefully achieve very profitable returns in a very timely fashion for shareholders. As of the date of this report, operations at Passendro remain suspended and although the Company continues to maintain a presence in the CAR (through its administrative office and permanently stationed employees in Bangui) and relationship with the State in the CAR, the Company is unable to predict when it will be able to resume its operations at Passendro for the foreseeable future, if at all. As a result, impairment in the amount of $37,346,576 was recognized at December 31, 2013 on exploration and evaluation (“E&E”) assets for the Bambari properties to reflect the decrease in their recoverable value as of result of the current unstable situation in CAR. As at December 31, 2017, given that impairment was recognized and the unstable condition remains the same, the residual value of E&E assets for the Passendro gold project was written down to $nil in 2016. This impairment recognized in the financial statements does not in any way mean that the Company is relinquishing its rights to the assets and it reflects the utmost conservative view by management on the objective circumstances and will be reviewed annually and subject to recovery when certain conditions are met pursuant to the accounting standards the Company has adopted. Senegal Joint Venture With regarding of Axmin owned 20% interest in the Sounkouko and Heremokono explorations permits, on June 18, 2015, in addition to its royalty interest of 1.5% NSR in the Gora Target Area, AXMIN has elected to convert its 20% interests in another 15 Target Areas into a 1.5% NSR from each Target Area. On Januar