The United Nations Security Council is weighing a proposal that would see U.N. peacekeepers in the Central African Republic offer support to newly-trained troops as they deploy across the country.
A French-drafted resolution would authorize the U.N.’s Minusca mission to “provide limited logistical support” for troops that have been trained by the European Union, according to the text seen by AFP on Wednesday, November 7.
The proposal is raising eyebrows, in particular from the United States, which is seeking to streamline peacekeeping operations to reduce costs and make them more effective, diplomats said.
The council will vote next week backing “rapid extension of state authority over the entire territory” by supporting the deployment of the vetted and trained troops in areas outside the capital Bangui.
President Faustin-Archange Touadera in April called for more peacekeepers to be deployed, and for Minusca to transition from peacekeeping to peace enforcement.
Touadera’s weak government controls around a fifth of Central African Republic and relies heavily on Minusca for support. The rest of the country is controlled by at least 14 different militia groups who often fight each other for control of revenue from extortion, roadblocks or mineral resources.
The draft resolution also extends the Minusca mission until November 2019 but maintains a ceiling of 11,650 military personnel. Last year, the council increased the authorized number of personnel by 900. Minusca is the U.N.’s fourth largest mission, after the Democratic Republic of Congo, South Sudan and Mali.
Training and equipping Central African forces The European Union has trained more than 3,000 personnel to serve in the Central African Armed Forces (FACA). In July, the bloc extended EUTM-RCA until 2020, pledging €25 million ($29 million) to help reform the country’s defense sector. The scope of the mission was also modified to give strategic advice to the president’s cabinet, interior ministry and police, as well as the military.
Russian advisors also work with FACA and provide security and advice to Touadera. In August, Russia signed a military cooperation agreement with CAR offering the possibility for Central African officers and NCOs to be trained in Russian military schools.
Central African Republic troops give a demonstration Central African Republic troops give a demonstration of their skills at a ceremony to mark the completion of training of the latest group of CAR’s armed forces by Russian advisors, September 17, 2018. Image: Renaissance.cf/Facebook More than 1,000 FACA personnel have completed Russian training programs in CAR, which they undertake after completing the EUTM-RCA program. They are trained by Russian instructors in the use of weapons provided by Russia.
The U.N. Security Council imposed its current arms embargo on CAR in 2013, but weapons shipments for the security forces can be authorized after special pre-approval by a sanctions committee. The embargo was last year lifted by the Security Council to allow delivery of Russian weapons, which the U.N. has since verified with the defense ministry and Russia.
Russia’s Ambassador to CAR Sergey Lebanov said on September 17 that a second shipment of Russian arms and ammunition “is in preparation,” and will be delivered once it has Security Council approval.
However, while on a visit to CAR on November 2, Foreign Minister Jean-Yves Le Drian announced that France would “soon deliver” 1,400 assault rifles for FACA within a strict and transparent U.N. framework, adding that “it would be absurd to train soldiers and not to give them the means to perform their duties.”
It is unclear if the intended French shipment is instead of or in addition to the proposed Russian delivery.
China donates vehicles to CAR's military Some of the more than 70 vehicles donated by China’s Poly Technology group to Central African Republic’s military forces, August 8, 2018. Image: Renaissance.cf/Facebook In June, France, the U.S. and the United Kingdom put a hold on a CAR request for U.N. Security Council approval of weapons shipments from China.
On September 26, Touadera reiterated a call for “the total lifting of the arms embargo that still weighs on our national army” in an address to the annual U.N. General Assembly.
Parfait Onanga-Anyanga, the outgoing U.N. special envoy to CAR and head of Minusca, said the following day that the U.S. had also proposed sending “new quantities of weapons” to the country.
Onanga-Anyanga said that the need for weapons was “undeniable” as the Central African Republic government builds its armed forces, but urged transparency in the flow of arms.
France, Belgium, China and the U.S. have recently supplied equipment for CAR’s military, but that equipment is understood not to include weaponry.
Competing peace efforts The draft resolution also takes aim at recent Russian efforts to broker peace deals in CAR by specifying that an African-led initiative is “the only framework” for a solution.
Working with Sudan, Russia on August 28 convened talks in Khartoum where four ex-Seleka groups and a rival anti-Balaka group signed a declaration of understanding which said they had decided to “create a common framework for dialogue and action for a real and lasting peace.”
However, on October 19, two of the ex-Seleka groups said they had withdrawn from the agreement, and a third withdrew days later.
The Russia-brokered talks drew criticism from former colonial power France which said there was “no alternative” an on-going African Union initiative, but Russia’s foreign ministry has said Moscow “plans to continue its mediation efforts” in coordination with the A.U. and U.N.
Supported by the U.N. and other international partners, an A.U. expert panel has been working to set up negotiations between the militias and the government since July 2017. France, Russia and the U.S. are observers in the A.U. iniitiative.
African Union panel meets CAR armed groups An African Union expert panel attempting to broker peace meets with representatives of Central African Republic’s armed groups to discuss their demands, Bouar, August 28, 2018. Image: @UN_CAR/Twitter Just days after the Khartoum declaration was signed, representatives from 14 militias held talks that could lead to negotiations with the government, a spokesperson for the A.U. expert panel said.
The “positive” meeting ended with a single list of 104 demands, signed by the representatives of the 14 armed groups that would be be put to the government as “the basis for negotiations between the two sides,” Francis Che said.
Touadera welcomed the A.U. meetings, saying that “the African initiative is the only frame of reference” for dialogue.
To step up diplomatic efforts, the U.N. and A.U. plan to appoint a joint special envoy, while Onanga-Anyanga will become part of the A.U. panel leading the peace effort.
A divided country Despite reserves of diamonds, gold, uranium, copper and iron, Central African Republic is one of the world’s poorest countries.
The majority-Christian country descended into violence following the 2013 ousting of President Francois Bozize in 2013 by the Seleka, a coalition of mainly Muslim rebel groups.
Seleka was officially disbanded within months, but many fighters refused to disarm, becoming known as ex-Seleka. Many others joined the mainly Christian anti-Balaka militia to fight the Seleka, leading to a spiral of violence between groups along both religious and ethnic lines.
By the end of 2014, the country was de facto partitioned – anti-Balaka in the southwest and ex-Seleka in the northeast.
Violence by both sides led to thousands of deaths. Nearly 700,000 people are displaced, 570,000 have fled the country and 2.5 million are in need of humanitarian aid, according to the U.N.
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We open a new office in Paoua, Central African Republic Concordis has made a new home in Paoua, Ouham-Pendé province, north of the Central African Republic. The city is a hub of humanitarian and relief activities for the province – hosting an MSF hospital and an UN-secured airstrip. From our new office, we will be able to carry out our community dialogues and peacebuilding workshops right in the heart of important pastoral corridors between Chad, Cameroon and the south of CAR.
Timea Szarkova, our CAR Programme Manager and Peter Marsden, our Director of Programmes, headed out to the field last month to prepare Concordis’ arrival in the country. They were delighted to find a home for our project. The office is not only an operational base, but aims to be a true home to our Project Manager, Financial Director and visiting staff. In addition to the house, our garden includes an outdoors, thatched-roof meeting room – or paillotte-, in the pure spirit of Central African dialogue traditions.
We are very excited to open our office and start work in Paoua. With indefatigable enthusiasm, our Programme Manager is already back in the field to ensure a smooth start to our activities. We wish her a safe trip and can’t wait to welcome the project staff on the premises.
New Programme in Central African Republic Concordis is delighted to announce that funding has been secured to commence a new programme in the beautiful Ouham Pendé Préfecture, in the north west region of the Central African Republic. With support from UK Aid Direct and the European Union Bêkou Trust Fund, Concordis will be able to leverage its expertise in dealing with conflicts related to cross-border transhumance and help local people identify their own mutually beneficial solutions to avoid recourse to violence in the management of their differences.
Based in the pleasant sub-prefecture town of Paoua, Concordis will be able to carry out peace-building activities throughout the region, where conflicts between several armed groups, as well as between herders and farmers, make it hard for peaceful and safe transhumance to take place. These seasonal migrations, which occur not only in relatively small perimeters, but also across the borders with Chad and Cameroon, are one of the most important sources of income for the region. The lack of mechanisms to resolve conflicts and to ultimately allow the resumption of transhumance affects a large number of citizens of the region. We hope to help the local people set up such mechanisms.
Concordis will also act as a consultant in several other prefectures in the north of the country, in order to help our partner organisations support them with conflict analysis, beneficiary feedback, and overall conflict sensitivity in implementing their development actions.
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About Doing Business: The project provides objective measures of business regulations and their enforcement across 190 economies and selected cities at the subnational and regional level. Doing Business The project, launched in 2002, looks at domestic small and medium-size companies and measures the regulations applying to them through their life cycle. Doing Business captures several important dimensions of the regulatory environment as it applies to local firms. It provides quantitative indicators on regulation for starting a business, dealing with construction permits, getting electricity, registering property, getting credit, protecting minority investors, paying taxes, trading across borders, enforcing contracts and resolving insolvency. also measures features of labor market regulation. Although does not present rankings of economies on the labor market regulation indicators or include the topic in the aggregate ease of doing business score or ranking on the ease of doing business, it does present the data for these indicators. Doing Business Doing Business Doing Business By gathering and analyzing comprehensive quantitative data to compare business regulation environments across economies and over time, encourages economies to compete towards more efficient regulation; offers measurable benchmarks for reform; and serves as a resource for academics, journalists, private sector researchers and others interested in the business climate of each economy. Doing Business In addition, offers detailed , which exhaustively cover business regulation and reform in different cities and regions within a nation. These reports provide data on the ease of doing business, rank each location, and recommend reforms to improve performance in each of the indicator areas. Selected cities can compare their business regulations with other cities in the economy or region and with the 190 economies that has ranked. Doing Business subnational reports Doing Business The first report, published in 2003, covered 5 indicator sets and 133 economies. This year’s report covers 11 indicator sets and 190 economies. Most indicator sets refer to a case scenario in the largest business city of each economy, except for 11 economies that have a population of more than 100 million as of 2013 (Bangladesh, Brazil, China, India, Indonesia, Japan, Mexico, Nigeria, Pakistan, the Russian Federation and the United States) where also collected data for the second largest business city. The data for these 11 economies are a population-weighted average for the 2 largest business cities. The project has benefited from feedback from governments, academics, practitioners and reviewers. The initial goal remains: to provide an objective basis for understanding and improving the regulatory environment for business around the world.
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posted
Diamond & Oil mineral sectors in the Central African Republic are in the midst of starting back up again. This means that the Gold sector where Axmin inc is based should be ready to go shortly as well.
(converted to English from French via the CAR news page)
MINISTER MBOLI FATRAN ATTENDS AFRICA OIL WEEK 2018
CAR Minister of Mines and Geology, Mr Leopold Mboli Fatran, attended with Mr Francis Sodea, Director General of Petroleum, the 25th edition of Africa Oil Week held from 5-9 November 2018 in Cape Town, South Africa.
Addressing as a member of the ministerial panel on national energy strategies on Wednesday, 7 November, Minister Fatran gave an overview of the CAR oil sector while indicating its prospects for development.
He then discussed with Ms Andrea Brown, CEO of the South African company DigOil, who was exhibiting at the American Association of Petroleum Geologists meeting the first promising of the bloc C she is being exploring in the southwestern region of CAR.
On November 8, the Minister of Mines met on the sidelines of the conference, Mr Zhou Song, Executive Director and President of SINOPEC, already established in CAR as a service provider in oil exploration and who would to strengthen its presence in the country.
Finally, on November 9, Minister Mboli Fatran met with his Sudanese counterpart, Honorable Azhari Abdalla Abdelgader, with whom they committed to strengthen the ties in the near future between their respective departments through the formalisation of their bilateral cooperation.
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Three new articles out talking about how the Central African Republic is growing in terms of economy, military strength and foreign investment. They are in French and will need to be converted to English via google.
- Note: This is major news because Alindao is the UPC stronghold and once they are eliminated from the area, Bambari to Ndassima should be secured, thus giving Axmin access back to the gold deposit. Not only that, Alindao is much father from Bambari than Ndassima, which means FACA has a much larger radius of control and support.
- This isn't gold, but it goes to show that now Diamonds and Oil are being extracted from the country. Thus gold isn't far away and the tax dollars earned by the government will help stabilize everything
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Central Africa: ITC builds capacity of trade and investment support institutions Posted on Friday November 23rd 2018 | Rjdh Central African Republic
BANGUI - the International Trade Center (ITC) in collaboration with the Ministry of Commerce and Industry organized a workshop from 21-23 November 2018 at the Ledger Hotel Bangui on the validation of the feasibility study for the creation a Central African agency promoting investment and exports.
It is within the framework of the reinforcement of the institutional mechanism of support to the development of the investments and the exports, that the government of the Central African Republic initiated, with the assistance of the ITC, a feasibility study on the creation of an organization specifically dedicated to promoting investments and exports as an instrument for revitalizing the economy and growth.
The main objective of this validation workshop is to provide the various stakeholders with the conclusions and recommendations of this study as well as the new device to be considered.
Ruben Phoolchund, Head of Office for Africa CCI's Country Programs Division salutes the government's commitment to the International Trade Center, "The International Trade Center also commends the Government of the Central African Republic's commitment to reforming the environment and encourages it to pursue these reforms in order to guarantee the legal security of the investments with a view to facilitating the work of this new creative agency, "greeted the Head of the Office for Africa.
The recommendations are based on the results of the analysis of the current institutional framework for trade and investment support, as well as on the assessment of the needs for support services of Central African companies.
The proposed model for the new Agency includes a governance and management structure, an organic operating framework, a typology of investment promotion support services and exports to be developed, and the modalities for their implementation.
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China pledges to build capacity of Central African police
Posted on Friday November 23rd 2018 | presidency
The President of the Republic, His Excellency Pr Faustin Archange TOUADERA received in audience in the early afternoon of November 21 a delegation of Chinese policemen, led by Mr. Zhong BING.
This team of Chinese police instructors came to the Central African Republic to train Central African police officers at the request of President Touadera to his Chinese counterpart Xi Chin Ping during his last state visit to China.
This training will contribute to the Government's policy for the rehabilitation and restructuring of the Defense and Homeland Security Forces.
Recall that during his first mission to China as head of the Central African State, President TOUADERA visited the police institute in Fujia. This visit enabled the Central African Number One and the President of this Police University to sign a contract for the capacity building of Central African police officers and elements of the Presidential Guard.
Chinese police instructors will now be assigned to Central African territory to train thousands of police officers.
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UN Tweet Reveals Bambari-Ndassima Corridor Being Worked On. This is the final leg since Axmin's multi million ounce proven gold deposit is right beside the town of Ndassima.
@IOM_CAR Nov 20 More Rendre possible l'accès humanitaire. #IOM réhabilite le bac de l'axe Bambari-Ndassima dans le cadre du programme de réduction des violences communautaires #CVR. Financement PBSO/MINUSCA. @UN_CAR @unpeacebuilding #CARcrisis @rochdi_najat @OCHA_CAR @ONUmigration @IOMROWCA @RcaUnct
Translated from French by Microsoft Make humanitarian access possible. #IOM rehabilitates the BAC of the Bambara-Ndassima axis within the framework of the Programme for the reduction of Community violence #CVR. Funding PBSO/MINUSCA. @UN_CAR @unpeacebuilding #CARcrisis @rochdi_najat @OCHA_CAR @ONUmigration @IOMROWCA @RcaUnct
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- Bria is another important town that's located east of Bambari/Ndassima. With that corridor secured, Axmin should have no issues whatsoever with rebel groups or bandits.
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AXM.V Q3 2018 Results (Financials + MD&A) Ending September 30th 2018 All information is available through Sedar. Numbers below are in US Dollars
*NOTE* - October 10th Cash & Share Deal Was Completed After Q3 Ended. Will be reflected in Q4 balance sheet
Tickers: AXM (CDN) & AXMIF (US) Price: $0.26 Common Shares: 130,497,381 - Increased by 3.46 million after Q4 share deal Options: 8,240,000 Insider/Institutional Holdings: 82,089,114
ASSETS Cash: $2,250,907 - Cash will drop $1.2 million after Q4 deal Receivables: $153,047 Prepaid Expenses: $2,105 Total Assets: $2,406,059 *NOTE - CAR property value has not yet been added to assets
LIABILITIES Accounts Payable: $1,436,261 - Liabilities will drop $1.2 million after Q4 deal Due To Related Parties: $192,572 Liabilities Of Discounted Operations: 0 - only liability removed in Q3 Total Liabilities: $1,628,833
Asset/Debt Ratio: 1.48:1 - first time since 2012 when a positive ratio
9 Month Earnings Summary - Royalty Revenue: $1,214,682 - Total Expenses: $399,454 - Removal of $323,103 liability - Total Comprehensive Income: $1,125,731 - USD Earnings Per Share: $0.008
*NOTE* - Terenga still owes Axmin around $1 million USD in royalty payments. This is paid as Gora ore is processed and sold
Management Discussion Highlights
Third Quarter 2018 Highlights
- During the three months ended September 30, 2018, the Company reported royalty income of $147,488 from Gora Projects, compared with $273,516 for the same time period of 2017. - The net income for the three months ended September 30, 2018 was $310,826 compared to $206,789 in the same period of 2017.
Business and Summary of Activities
AXMIN is a publicly listed corporation with its shares trading on the TSX Venture Exchange (“TSXV”) under the symbol AXM. The Company is an international mineral exploration and development company with a strong focus on the African continent. AXMIN, through its wholly-owned subsidiaries, has exploration projects in the Central African Republic (“CAR”) and Senegal. The Company’s primary asset is the Passendro gold project situated in the CAR. Due to escalating interreligious conflicts in the CAR, all in-country operations other than administrative functions, carried out in the capital city of Bangui, have been suspended. In June 2018, Axmin has received confirmation from Teranga that the Government of the Republic of Senegal has granted two new exploration permits under the 2016 Senegalese Mining Code for Sounkounkou and Bransan, encompassing the 17 target areas that the Company shares an interest in with Teranga.
The initial term of the exploration permits is for a period of 4 years with a requisite minimum expenditure commitment during this initial period. Thereafter the exploration permits are renewable two times for consecutive periods not exceeding three years each provided that Teranga has satisfied its work and expenditure commitments. The Bransan perimeter is 337.3km2 and Sounkounkou is 291.7km2, which together cover roughly 90% of the prior permit areas.
AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the above Senegal permits. Axmin’s royalty rights are intended to continue and survive the Joint Venture Agreement and remain tied to the permits themselves, irrespective of title holder.
Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit. Royalty income in the amount of $4,033,360 has been recognized since Gora Deposit began production. The total royalty income for the nine months ended September 30, 2018 was $1,214,682 (for the nine months ended September 30, 2017 - $970,855). The royalty is applied to the production of gold from the Gora deposit, located in the Senegal Republic. The Gora deposit is operated by Axmin's joint venture partner, Sabodala Mining Company SARL, a wholly owned subsidiary of Teranga Gold Corp.
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.
On December 24, 2012, the Company officially notified the CAR Minister of Mines and Defence of the existence of a state of Force Majeure due to the escalating rebel activity in the country and the necessity to withdraw its field operations. Since that time, AXMIN has not had access to its Passendro project. The Mining Convention of 2006 and the addendum thereto concluded in August 2010 provide the Company with full protection under the circumstances and, in the event that there is a change of Government in the CAR, the existence of Force Majeure stays work related obligations. It is these circumstances that have caused the Company to suspend all Passendro based operations as well as negotiations with prospective lenders.
Prior to the Force Majeure, the Company was working towards securing financing to develop the Passendro gold project into CAR’s first modern gold mine. The following is a brief summary of the status at Passendro gold project as at December 2012. A full description of the Passendro gold project can be found in the Company’s audited financial statements for 2014 and 2013, its June 2012 Annual Information Form, the 2011 Bankable Feasibility Study Optimization & Update and its 2009 Mineral Resource Estimate prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101”). All reports can be accessed under the Company’s profile on the SEDAR website at www.sedar.com.
On October 15, 2013, the Government of the CAR signed the Decree No. 13.412, stating that the duration of the validity of the Bambari 1 and 2 Exploration Licences held by Aurafrique SARL, a wholly owned CAR registered subsidiary of the Company, were extended for a period of one year from August 7, 2013 to August 6, 2014.
On October 15, 2013, the Government of the CAR granted SOMIO Toungou SA, a wholly-owned subsidiary of the Company, a oneyear extension of the exemption from starting the development and pre-production work at the Passendro Gold Project. The period of the extension of the exemption is valid from January 11, 2014 to January 10, 2015.
On October 15, 2013, the Government of the CAR (“Government”) officially acknowledged the considerable monetary losses the Company sustained, which was estimated to be approximately US$38 million, at its operations in the capital city of Bangui and at its Ndassima camp located 60 km north of the town of Bambari. In response to those losses, the Government has consented to a compensation of 50 percent of all taxes, rights and taxations, but did not specify the applicable time period. Given the uncertainty of the Government compensation, the Company has not accrued any compensation
On October 18, 2013, the Government of the CAR certified that the License of Exploitation (the “Mining License”) held by SOMIO Toungou SA, which was originally granted to the Company on August 5, 2010 and recorded under the Chronological Code PE001/10 (Registration number 002 of August 5, 2010) by the Department of Mines, remains valid for a period of twenty-five years from the date of the grant.
As announced on November 15, 2013, the Company entered into an agreement to secure its ownership of the licenses in the CAR. Under this agreement the consultant was entitled to remuneration upon the successful completion of its services. The total outstanding payments due under this agreement amount to US$2,000,000. Axmin’s management are actively pursuing negotiations to resolve this account payable on substantially better economic terms for the Company. A further announcement will be made when appropriate.
On November 28, 2016, the Minister of Mines, Energy and Hydraulics of the CAR issued Ministerial Order No 245/16/MMEH/DIRCAB/DGMD, giving an Exemption Certificate of one (1) year to start the development and pre-production work at the Passendro Gold Project to SOMIO Toungou SA, a wholly-owned subsidiary of the Company. The period of the Exemption is valid within duration of one (1) year starting from November 28, 2016 to November 27, 2017.
Also on 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. On March 26, 2018, the Minister of Mining and Geology issued an executive order No 031/18/MMG/DIRCAB/DGM to grant SOMIO Toungou an extension period of exemption from the development work and productions of the Passendro gold mine for one (1) year, running from March 22, 2018 to March 21, 2019.
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.
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 September 30, 2018, 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. 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 representative 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.
The Company notes as reported in the world press that the Central African Armed Forces (FACA) have recently been deployed in the city of Bambari and the vicinity. AXMIN regrets the violence that has taken place during this time, and believes that the combination of the FACA and MINUSCA forces on joint patrols should hopefully bring stability to the region enabling the Company to become operational again at Ndassima near Bambari.
Senegal Joint Venture
On February 28, 2012, AXMIN and its joint venture partner and manager, Sabodala Mining Company SARL (“SMC”), a whollyowned subsidiary of Teranga Gold Corporation (“Teranga”) amended its 2008 joint venture agreement. At the time, Teranga had earned an 80% interest in the Sounkounkou, Heremokono and Sabodala NW explorations licenses (the “Project”) located in the Birimian belt of eastern Senegal, by spending US$6 million on exploration. AXMIN has retained a 20% interest in the Project. The amended joint venture and royalty agreement (the “Agreement”) supersedes and replaces the original joint venture agreement. The 2012 Agreement with SMC includes, among other things, the following terms: (a) both parties agree that their respective interests (Teranga–80% and AXMIN–20%) in the Project are divided into Target Areas (being areas subject to exploration) and Remainder Areas (areas not yet subject to exploration); and (b) that both parties will retain all respective interests in all of these areas, until an election is made by AXMIN to convert its 20% interest in a Target Area into a 1.5% NSR or Royalty Interest (“Royalty Election”). After AXMIN has made a Royalty Election with respect to the Target Area, SMC will solely fund all finance work costs for each of the Royalty Interests.
As of February 28, 2012, AXMIN elected to take a 1.5% NSR Royalty Interest in the Gora Deposit, located on the Sounkounkou permit. In July 2012, the Republic of Senegal declined the application submitted by SMC, the manager, for the extension for the Sabodala NW license, which has now expired and is believed to have been granted by the Senegal Government to a third party. On September 5, 2014, an extraordinary extension of 24 months for the Heremokono exploration permit has been granted by the Senegal authorities.
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 January 12, 2016, AXMIN elected to convert its 20% interest in one new Target area into a 1.5% NSR. After this Royalty Election, AXMIN holds a 1.5% NSR on 17 Royalty Target Areas (being Target Areas have been made Royalty Election on) in total and maintains 20% interests of Remainder Areas within the Senegal permits. The free carried interest of US$2.5 million granted to AXMIN under the Agreement has been depleted on account of its 20% Participation Interest in respect of all Participation Target Areas (being areas subject to exploration and both parties remain their respective interests (Teranga – 80% and AXMIN – 20%)). No further participation contribution needs to be made by AXMIN beyond this $2.5 million free carried interest with respect to the Participation Target Areas where a Royalty Election has been made.
Senegal JV – Gora Deposit (1.5% Royalty Interest)
In February 2012, AXMIN elected to hold a 1.5% NSR royalty interest in the Gora deposit. Since August 2015, Axmin Inc. started to generate the 1.5-per-cent net-smelter-return royalty’s income from the Gora deposit.
On November 1, 2018, Teranga released its nine months ended September 30, 2018 Financial Statements and MD&A which contain additional information including information on Gora’s reserve and resources as noted below:
Exploration and Evaluation Assets and Expenditures
AXMIN holds a 100% interest in the Bambari properties which consist of a 25-year Mining Licence (355 sq km), which was granted in August 2010 and remains valid up to date, and two Exploration Licences, Bambari 1 and 2 (1,240 sq km), which were also granted in August 2010 and remains valid up to date. The Bambari properties had been the subject of substantial exploration by AXMIN since the discovery of the Passendro project. The Passendro project is situated in the centre of the Mining License which is ring-fenced by the two Bambari Exploration Licenses.
Impairment in the amount of $37,346,576 was recognized as at December 31, 2013 on the Bambari properties to reflect the decrease in their recoverable value as the result of the current political turmoil in CAR. The new government of the CAR might adopt different policies respecting foreign development and ownership of mineral resources. Any such changes in policy may result in changes in laws affecting mining policies, ownership of mineral assets and might extend to expropriation of mineral assets. The recoverable amount of the Company’s Bambari properties is $nil based on management’s estimate of the asset’s fair value less costs to sell (“FVLCD”).
As at September 30, 2018, there has been no significant change in the assumptions used to determine the FVLCD since the impairment loss was recognized in 2013 but as stated above the Board may re-evaluate the FVLCD once the Company is back on site and operational.
Subsequent Events
The Company settled an accounts payable of $2.0 million by making a payment of US$1.2 million and the issuance of 3.46 million shares at a price of C$0.30 per share. A settlement agreement has been entered into (the "Settlement Agreement") and the transaction relating to the Settlement Agreement has received final approval from the TSX Venture Exchange. Subsequent to the period end, the US$1.2 million was paid and the 3.46 million shares were issued extinguishing this accounts payable in its totality. The shares issued pursuant to the above-referenced Settlement Agreement are subject to transfer restrictions under a two (2) year lock-up agreement, during which time the shares may not be sold. The transfer restrictions under the lock-up agreement will expire two (2) years plus one day from the date of grant.
Subsequent to the period end, 280,000 stock options were exercised.
Concentration of Share Ownership
As at the date of this report, AOG Holdings BV holds approximately 12.38% of the issued and outstanding common shares of the Company on a non-diluted basis, Shenglin Trading holds approximately 15.32% of the issued and outstanding common shares of the Company on a non-diluted basis and Dickson holds approximately 34.48% of the issued and outstanding common shares of the Company on a non-diluted basis.
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AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE THREE MONTHS ENDING SEPTEMBER 30, 2018
Axmin Inc. has released its financial and operating results for the three months ended Sept. 30, 2018. All amounts included in this news release are in United States dollars
Highlights:
During the three months ended Sept. 30, 2018, the company reported royalty income of $147,488 from Gora projects, compared with $273,516 for the same time period of 2017. The net income for the three months ended Sept. 30, 2018, was $310,826 compared with $206,789 in the same period of 2017. Liquidity and capital resources
At Sept. 30, 2018, the company had cash on deposit in the amount of $2,250,907, accounts and other receivables of $153,047, and prepaid expenses of $2,105. Royalty income receivable of $147,487 has been received subsequent to the period ended Sept. 30, 2018.
Net assets increased to $777,226 at Sept. 30, 2018, compared with negative $1,215,536 at Dec. 31, 2017.
Outlook
The company is very pleased with the progress made to strengthen the balance sheet by settling the long-standing accounts payable. Axmin is looking forward to becoming operational again in the Central African Republic (CAR) as soon as conditions allow.
Resignation of chief financial officer
Jin Kuang has tendered her resignation and David de Jongh Weill has been appointed as the chief financial officer, effective from Nov. 15, 2018. In addition to having already served as chief financial officer of a listed public company, Mr. Weill has served as chairman of four companies listed in Toronto, London and Sydney.
Mr. Weill commented: "It is a privilege to serve Axmin as chief financial officer at this exciting time as we are making the requisite preparations to become operational again in the CAR. I believe that the duly elected government has laid a strong foundation for peace and stability in the country, and that it is now only a question of time for our company to be back on site and operational once more at the Passendro asset."
About Axmin Inc.
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 feasibility-stage Passendro gold project in the Central African Republic.
Notes: 1) TGZ.T has not processed all Gora Ore. Close to $1 million USD still to be paid 2) 16 other potential producing targets to be opened up in 2019 3) Asset/Debt ratio positive the first time since 2012. 4) October 10th 2018 deal for balance sheet clean up won't show until Q4 results( Apr 2019)
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The European Union promotes the return of public services and economic recovery through the opening up of the CAR regions
Posted on Monday, December 3, 2018 | EUROPEAN UNION
The project to open up Central African regions was officially launched yesterday in Bimbo in the presence of the President of the Republic, Pr. Faustin-Archange Touadéra, and the Director-General for Development and International Cooperation of the European Commission, Stefano Manservisi.
Funded by the EU via the #Bekou Fund topped by € 7 million and implemented by Expertise France, the project aims to open up the RCA through the installation of metal bridges.
"Building bridges is like building links," said DG Manservisi. "This project is a great turning point for the country: connecting the regions, connecting Bangui to the rest of the country, with a tangible improvement in the living conditions of the people who live in the country. will have easier access to markets, basic services and human exchanges between them.The common objective is to contribute to the development of the regions of the country, but also to the strengthening of its unity, of its feeling of country and nation, of its living together through mobility and the free movement of people, goods and values ".
For the Minister of Economy and Planning, Felix Moloua, after the approval in June 2017, concrete steps have been taken to officially launch the project to open up and facilitate the development and creation of conditions conducive to the return of refugees. refugees and displaced persons.
"A result of all the efforts of Europeans in the Central African Republic": for the Ambassador of France in the Central African Republic, Éric Gérard, the project will allow the construction of bridges to facilitate the free circulation of the waterways with a view to a better connection with the population.
A metal bridge element was handed over by DG Manservisi to the President of the Republic, symbolically marking the launch of the project which will also see in its implementation the development of the capabilities acquired by the Central African military engineers through the training provided. by the EUTM.
Launched in July 2014, the Bekou Trust Fund is funded by the European Commission, France, Germany, the Netherlands, Italy and Switzerland.
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Central African Republic: Bouar hosts awareness caravan ahead of "grand disarmament"
BOUAR (Central African Republic), December 1 (Xinhua) - An awareness caravan supposed to prepare Central African armed groups to join the so-called Disarmament, Demobilization, Reintegration and Repatriation (DDRR) process in the western regions is today in Bouar (west), it was found on Saturday.
The "big disarmament" in question will be launched in the coming days in Paoua, according to the schedule given by the president Faustin-Archange Touadéra.
Taking advantage of a sports meeting in Bouar on the occasion of the festivities of 1 December marking the 60th anniversary of the proclamation of the Central African Republic, Abel Déholo, DDRR communications officer, insisted on the need to return weapons, the first step of this process.
He recalled that this disarmament was the consequence of the agreement reached on May 10, 2015 between the government and the representatives of the armed groups. In his eyes, this will have a positive impact on peace and development, the foundations of the restoration of state authority throughout the country.
Mr. Déholo also mentioned the reintegration mechanisms of ex-combatants, who could join the gendarmerie, the police, the Waters and Forests, the customs or firefighters, if they meet the criteria, or learn a trade by example in agriculture, breeding, trade, carpentry, mechanics, electricity or computing. He indicated that installation kits will be provided.
The DDRR process in Central Africa is supported by the local UN Mission (MINUSCA) and the World Bank.
Prior to the large DDRR itself, a pilot program had already been piloted, incorporating 234 young ex-combatants into the army and adding another 280 socio-economically.
The awareness caravan will cover the cities of Bossemptele, Baoro, Baboua, Zoukombo, Beloko, Niem Yelewa, Koui, Bocaranga and Bozoum. A similar campaign had traveled from November 3 to 10, many localities of the sub-prefecture of Paoua.
End
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Central African Republic: Minister MBOLI FATRAN on the occasion of the official launch ceremony of the Property Rights and Mining Crafts Project (DPAM)
Posted on Wednesday, December 5, 2018 | Central African lepotential
On November 28th, 2018, in Bangui, the official launching ceremony of the Project of Property and Mining Crafts (DPAM) in the presence of two members of the Government namely, Ministers Mboli-Fatran in charge of Mines and Geology and Virginie Mbaïkoua of Humanitarian Action and National Reconciliation as well as the Chargé d'Affaires ai of the United States Embassy in Central Africa, whose country is the key partner of the project.
In his speech of convenience, the Minister Mboli-Fatran was at first pleased with the mark of friendship between the Central African Government and the United States through the financing by this partner of the Project "Right of Property and Mining Crafts" of which the amount is US $ 9, 800,000, or about CFAF 6 billion.
According to the Central African Minister in charge of Mines and Geology, this project aims to strengthen the process of peaceful coexistence between all Central Africans of different social strata in mining areas in line with the Kimberley Process and national and international mining stakeholders.
"This project will also improve mining governance and increase access to land while placing a special emphasis on the gender dimension," said Minister Mboli-Fatran who took the opportunity to present on behalf of the people of the Central African Republic, his gratitude to the Government for all the support it has been providing in the framework of bilateral cooperation for more than 60 years.
Continuing his remarks, the member of the Government specified that: "It is since 2007 that the CAR and the United States maintain relations of bilateral cooperation in the matter of good governance and sustainable management of the artisanal mining sector through the Project Rights of Property and Development of the Artisanal Diamond1 (DPDDA1) ".
According to Minister Mboli-Fatran in 2015, the second phase of the DPDD2 project has complemented and reinforced Phase 1 and has led to a significant number of activities including: the digitization of historical diamond marketing data for the period of 2006 to 2015; the georeferencing of the work sites of the artisanal miners in the conformal zones; the setting up of small emission units for artisan cards and mining workers in the Regional Directorates and the Prefectural Mining Services; improved management of production and marketing databases for compliant areas; the rebuilding and updating of the database of artisanal miners (DPDDA zone); updating the mining cadastre of conforming zones in order to clarify their impact on the dynamics of the current artisanal mining; and other activities related to the Center for Management of Geo-Scientific Information and Mining Statistics or the Mining Cadastre at the request of the General Directorate of Mines; Collaborative work with the National Monitoring Committee of the Kimberley Process for the recovery of rough diamond exports in the Central African Republic, which has made 5 diamond sub-prefectures compliant and proposed 9 others.
The Government member did not fail to address a number of challenges that remain to be addressed, among others, the re-establishment of compliance of the Kimberly Process in all gross diamond producing areas of the country; strengthening of subregional cooperation to fight against fraud and smuggling of diamonds and gold; the modernization of the mining cadastre; improving the living conditions of mining communities through the development of a mining economy; compliance with environmental standards; Strengthening dialogues among all mining communities to strengthen national unity and peaceful coexistence
Before closing his speech, Minister Mboli-Fatran declared that the Central African Government hopes that the implementation of the Project "Property Rights and Mining Crafts (DPAM)" will really benefit the people of the Central African Republic and that the Annual Work Plan will be respected in the interest of the Central African mining sector.
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Best Junior Gold Stocks of 2018 on the TSXV Olivia Da Silva - December 4th, 2018
While gold has had its share of ups and downs in 2018, some companies have achieved strong results despite the precious metal’s fluctuating price point.
With the year nearly over and done, the Investing News Network has rounded up the best gold stocks on the TSXV by share price performance so far this year. All have received high levels of investor interest in 2018, with the biggest gainer being up more than 700 percent year-to-date.
All year-to-date and share price information was obtained on December 4, 2018 from TradingView. All companies listed had market caps above $10 million at that time.
Based in Canada, AXMIN is a gold exploration company with assets in the Central African Republic (CAR), along with a royalty agreement in Senegal for Teranga Gold’s (TSX:TGZ) Gora deposit. The company’s main priority is developing its Passendro gold project in the CAR, which has been a touch-and-go process due to security issues in the country.
While much of AXMIN’s 2018 news centers on financial results, in June the company shared an exploration permit update on the area it shares an interest in with Teranga. A few months later, in October, the company settled a drawn-out accounts payable issue with a consultant that had helped it secure its ownership of licenses in the CAR.
AXMIN has reported little other news this year. It’s worth noting that the company released a statement in August saying it was unaware of why it was experiencing an increase in market activity.
Westhaven Ventures refers to itself as a company that focuses on identifying, acquiring and advancing early stage projects with big potential. The company’s main interest lies in its four properties located in BC’s Spences Bridge Gold Belt; cumulatively they span over 35,000 hectares.
While the company’s share price remained at a simmer for much of 2018, things started to pick up in October when Westhaven released several positive announcements over just a few weeks. Between three sets of drill results from its Shovelnose property in October to receiving over $850,000 from a warrant exercise, the company surged as the news continued to roll in.
Westhaven’s share price peaked on November 9 at C$1.30, the same day the company announced it had begun high-resolution airborne geophysics at its Skoonka and Skoonka North gold properties.
3. Great Bear Resources (TSXV:GBR) Year-to-date growth: 583.54 percent, current share price: C$2.70
Great Bear Resources is an exploration company with a focus on advancing precious metals projects in Red Lake, Ontario. Great Bear has two main projects, Dixie and West Madsen, which together cover 13,000 hectares of prospective greenstone belts.
Great Bear got a boost in August after a high-grade gold discovery was made at the Hinge zone of its Dixie project. Shortly after the discovery was announced, McEwen Mining (TSX:MUX,NYSE:MUX) and its chief owner, Rob McEwen, invested a combined C$6 million in Great Bear.
The company rode the wave of excitement through September and hit its peak at C$3.39 on October 18, shortly after the discovery of “key ultramafic geology” during a mapping program at Dixie Lake.
4. Sokoman Iron (TSXV:SIC) Year-to-date growth: 240 percent, current share price: C$0.18
Another Canadian company, this time based in Newfoundland and Labrador, Sokoman Iron is an explorer with a focus on “world-class” mineral deposits in its home province. Sokoman has several assets under its belt, but is primarily focused on its Central Newfoundland gold project, which consists of its East Alder, Crippleback Lake and Princess Lake properties, spanning 5,500 hectares in total.
The junior miner caught the eye of investors back in late July, when it announced it would be completing a $3-million private placement that had billionaire investor Eric Sprott leading the pack. Its share price made leaps and bounds in the days following the announcement, peaking on August 3 at C$0.44.
With a goal of becoming a mid-tier, low-cost gold producer, Rusoro Mining has a large land position in the mining region of Venezuela’s Bolivar state. The company has two mines in production — its Isidora mine and Choco 10 mine and mill — along with 10 exploration projects that range from early stage to advanced/development stage.
Rusoro had a fairly quiet year in terms of project news, but gained traction in October. The hype surrounding the company came when Rusoro agreed to a settlement proposal from the Bolivarian Republic of Venezuela under which the country will pay Rusoro over US$1.28 billion for its mining dataand for a full release of an arbitral award issued in favor of Rusoro in August 2016.
The company’s share price saw its 2018 peak on October 15, days after the settlement proposal announcement, when it hit C$0.34.
Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.
Editorial Disclosure: Great Bear Resources is a client of the Investing News Network. This article is not paid-for content.
Best Junior Gold Stocks of 2018 on the TSXV
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The number of African Export-Import Bank (Afreximbank) member countries swelled to 50 on Wednesday, with the Central African Republic (CAR) formalising her membership by depositing the instrument of the country’s ratification of the Bank Establishment Agreement in Cairo, Egypt.
Speaking during a ceremony at the bank’s headquarters, Claude Rameaux Bireau, Minister of State and Economic Adviser to the president, who led a five-member delegation, said that the Central African Republic had very high expectations from Afreximbank and looked forward to strengthened cooperation with the institution.
Bireau said that CAR would move quickly to take up shareholding in the bank and announced that the government was already working with the African Development Bank to support in that regard.
He added that the country would participate in the Intra-African Trade Fair, which was being organised by Afreximbank in collaboration with the African Union. The trade fair will take place in Cairo from December 11- 17.
Earlier, Prof. Benedict Oramah, President of Afreximbank stated, disclosed that the bank was created to support African countries in both good times and bad times and that the ratification of the Agreement by the Central African Republic would make it possible for it to effectively do business in the country.
“The ratification grants us the special privileges and immunities that make it possible for us to take the risks that other commercial banks cannot,” Prof. Oramah explained.
He announced that the Afreximbank had been reviewing six projects, which the country had identified as priorities in order to see how to support them, saying that CAR, with her rich resources, could be an investors’ paradise if well marketed.
CAR had initiated the process of joining the bank on 28 November 2017, when it presented an instrument of accession to the Bank Agreement to Prof. Oramah when he met with President Faustin-Archange Touadéra in Bangui.
Under the terms of the Agreement for the Establishment of the Bank, which was signed by the participating states in Abidjan on May 8, 1993, countries that did not sign on before it entered into force are required to first issue an instrument of acceptance and accession and then proceed to formally ratify the agreement in order to fully activate their membership of the bank.
Membership of the bank gives the CAR automatic access to the full range of products and facilities offered by Afreximbank, including trade finance facilities, project finance services, trade information and advisory services, support in the development of a local content policy and assistance in developing and implementing industrial parks and special economic zones.
There are 50 countries currently on the list of Afreximbank participating and shareholding states, including Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde and Chad. Others are CAR, Comoros, Côte d’Ivoire, Democratic Republic of Congo, Djibouti, Egypt, Equatorial Guinea, Eritrea, Ethiopia, Gabon, Gambia, Ghana, Guinea, Guinea Bissau, Kenya, and Lesotho.
Countries like Liberia, Madagascar, Malawi, Mali, Mauritania, Mauritius, Morocco, Mozambique, Namibia, Niger, Nigeria, Republic of Congo, Rwanda, Senegal, Seychelles, Sierra Leone, Sao Tome and Principe, South Africa, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Zambia and Zimbabwe are part of the bank.
Afreximbank shareholders are a mix of public and private entities divided into four classes and consist of African governments, central banks, regional and sub-regional institutions, private investors and financial institutions, as well as non-African financial institutions, export credit agencies and private investors.
Also on the delegation were Clement Bilege, Ambassador of Central African Republic to Egypt; Jean Jules Jos, Former Minister of State in charge of Programmes at the Presidency and Batolo Mathiu and Amadou Issa of the Embassy of Central African Republic in Cairo.
Participating in the ceremony from Afreximbank were Dr. George Elombi, Executive Vice President, Governance Legal and Corporate Services; Amr Kamel, Executive Vice President, Business Development and Corporate Banking; Rene Awambeng, Global Head, Client Relations; Obi Emekekwue, Global Head, Communications and Events Management; Gerald Chihota, Head of Board Secretariat and Jacqueline Clarisse Motsebo of the Board Secretariat.
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African Union Says Ready To Organize CAR Peace Talks, Host City To Be Chosen- Commissioner Fakhir Rizvi 3 hours ago Fri 07th December 2018 | 05:29 PM
African Union Says Ready to Organize CAR Peace Talks, Host City to Be Chosen- Commissioner The African Union is prepared to organize formal peace negotiations between the government of the Central African Republic (CAR) and the militia groups as soon as it decides on the conference venue, the Union's Commissioner for Peace and Security, Ambassador Smail Chergui, told Sputnik. MOSCOW (UrduPoint News / Sputnik - 07th December, 2018) The African Union is prepared to organize formal peace negotiations between the government of the Central African Republic (CAR) and the militia groups as soon as it decides on the conference venue, the Union's Commissioner for Peace and Security, Ambassador Smail Chergui, told Sputnik.
The African Union has been leading mediation efforts in the conflict between the government in Bangui and various rebel groups operating in the CAR. In August, rebel groups presented a list of nearly 100 demands that need to be satisfied before a peace agreement can be signed.
"I think more or less we are almost ready, I think it is now to see where we are going to convene the dialogue. Is it in Bangui, in Addis Ababa or elsewhere? I think that's where we are.
We want to make sure that we speak the same language with everybody," Chergui said, expressing hope that the conference will be convened "as soon as possible."
The conference will provide the sides with an opportunity to fine-tune their positions, conclude discussions and then "hopefully sign the [peace] agreement."
The CAR has been struggling to overcome internal conflicts for years now, with around 615,000 people displaced in the country due to the crisis, according to the United Nations.
On August 27-28, the major warring parties participated in Russia-brokered peace talks in the Sudanese capital. The meeting resulted in the signing of the Khartoum Declaration, which provided for the creation of an opposition union, which could pave the way for a long-lasting peace in the country.
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Nouveau Centrafrique @NouveauCentraf Dec 6 DÉPÊCHE/Bangui : Lancement des opérations de "Inde Afrique Investment" #Centrafrique #CARcrisis http://wp.me/p39iaI-3FY
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The next set of links have just shown up over the last few days. These are actual job postings and companies offering to do business in the Central African Republic. It shows that things are progressing if international companies are hiring and offering services in this part of the world:
Posted on Saturday, December 8, 2018 | ADV Bangui - Chinese instructors are following the footsteps of EUTM-RCA forces and Russian instructors for the restructuring of the defense and security forces. The 20 elements of the presidential guard have completed their training on December 3, 2018.
While Russia deals with the Central African Armed Forces, China is focusing on the upgrading of the internal security forces, including the police, gendarmerie through the presidential guard.
The head of the team of Chinese instructors, Mr. ZHANG recalled that their visit to Central African soil follows President TOUADERA's request to his Chinese counterpart Xi Jin Ping during the Sino-Africa forum. "The formation of these 20 elements marks the beginning of a good cooperation for the future," he says.
"This work gave a vision and a format to these trainees. This training is just the beginning of the many actions that have been discussed and that must be carried out in the days to come, "said Central African President Faustin Archange Touadera.
The actions that will be carried out in favor of the restructuring of the Defense and Security Forces will be implemented by 2019. As the government launches the restructuring of the FACA, the police and the gendarmerie will also be in line of this reform after several decades of dysfunction and crisis in the country.
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The General Coordination of the FPRC congratulates the President of the Central African Republic His Excellency Faustin Archange TOUADERA who in his statement on the eve of the commemoration of the 60th anniversary of the independence of the Central African Republic which tends to be reborn gradually that he qualifies as very constructive and conciliatory.
The FPRC is very optimistic about the beginning of the culture of peace engendered by the declarations but is waiting to welcome the imminent practice of this peace.
The FPRC reminds everyone to calculate the value of the actions to be taken in relation to the homeland, which needs the contribution of all Central Africans to save it.
The FPRC reiterates its call for national awareness and unity for an imminent dialogue that will be the final exit from the great crisis.
The FPRC calls on the President of the Central African Republic, guarantor of national unity and integrity, to save the Republic and bring it out of the abyss and cure the broken arms recognized by the Prime Minister while he is supposed to get this country out of this abyss and arrange the broken arms of Central Africans.
The FPRC asks the elected representatives of the people not to be limited only to the dismissal of their President for financial reasons, but encourages them to commit themselves to the national reality recognized by the one who is responsible for us of the abyss and to repair us broken arms that for almost two and a half years can not do anything. When will the control of government actions and a vote of law in this sense? A good democracy contributes to and maintains peace.
The FPRC wishes to see a multi-ethnic and dignified republican army with elements recruited by vocation and not out of necessity to avoid repetitive mistakes like the recent national disappointment of Bocaranga.
The FPRC calls on the UN and more particularly on the Security Council to vote for a resolution to end the crisis that will be imposed on all parties in CAR for a way out of the crisis because all the previous resolutions were partial and favored the return of violence. They made everyone complicit and victimized.
For the FPRC, the choice of mediator should be imposed on all parties in conflict to avoid the stagnation of the peace process initiated by the African Union. Otherwise, each party can refute and delay the progress of the dialogue process. As we fight for the revival of Central Africa.
Done at Ndele on December 09, 2018
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Florence Parly will reaffirm the support of France in Bangui, including delivering military equipment.
Le Monde with AFP Posted today at 10h13
The French Minister of Armies Florence Parly will reaffirm Monday, December 10 and Tuesday, December 11 in Bangui the support of France to the Central African Republic , where Russia is increasingly present, and deliver military equipment. "The purpose of the visit is to reaffirm the support of France to this country, which is a long-time partner , " says one in the cabinet of the minister. Florence Parly will meet President Faustin-Archange Touadéra, his counterpart Marie-Noëlle Koyara and the UN envoy for the Central African Republic (CAR), Parfait Onanga-Anyanga. It will give on this occasion 1,400 assault rifles promised by France as well as amphibious equipment to the Central African Armed Forces (FACA).
France obtained for this a exemption from the UN to the embargo on arms deliveries to the Central African Republic, just like the Russians a few months earlier. The minister will also reaffirm France's commitment to the African Union's peace initiative in that country, while Russia has tried to launch a parallel process. "All the other initiatives that are opportunistic and often interested initiatives do not seem to me to contribute to a positive resolution of the security situation in this country," she said in November at the Dakar Forum on Peace and Security in Africa.
Russia has invested all over the place in this former French colony, particularly in the formation of the army and diplomacy with armed groups. Companies run by Russians are also interested in its mineral wealth. France intervened militarily in the CAR between 2013 and 2016 to stop the violence of the rebel coalition Séléka (predominantly Muslim) and retaliation of anti-balaka militias claiming to defend Christians.
Two years later, almost all of the world's 4.5 million poorest people remain under the control of armed groups fighting to capture mineral resources such as gold and diamonds. strengthen their local influence. "The end of Operation Sangaris did not mark the end of our support at all. It has taken another form, " says Ms. Parly's office, pointing to FACA training and military support for the UN force there (Minusca) if needed.
In May, French fighters overflew Kaga Bandoro, 300 km north of Bangui, in support of the UN mission in Minusca after renewed intercommunal violence. "We are ready to help in an emergency as this episode has shown," said one in the entourage of the minister.
On 3 November, French Foreign Minister Jean-Yves Le Drian also signed aid agreements worth € 24 million in Bangui to help pay back wages and pensions, develop nearby territories of Cameroon affected by large population displacements and to install bridges to open up several regions.
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France on Tuesday handed over 1 400 AK-47 assault rifles and three amphibious vehicles to the Central African Republic to shore up its beleaguered armed forces.
French Defence Minister Florence Parly oversaw the handover at a ceremony at M'Polo military base in the capital Bangui.
The military aid was announced in Paris in November, along with $27.4 million in civilian assistance.
One of the world's poorest nations, the CAR has struggled to recover from a 2013 civil war that erupted when President Francois Bozize, a Christian, was overthrown by mainly Muslim Seleka rebels.
In response, Christians, who account for about 80% of the population, organised vigilante units dubbed "anti-Balaka" in reference to the balaka machetes used by Seleka rebels.
Thousands of people have died in the violence, 700 000 have been internally displaced and another 570 000 have fled abroad.
With the armed forces hampered by poor training and lack of equipment, the UN-backed central government controls only a fraction of the country's territory.
In 2013, the UN Security Council imposed an arms embargo and it remains in place today.
Exemptions are made for weapons shipments for the security forces that gain pre-approval from a UN sanctions committee.
The panel is tasked with ensuring that imported weapons do not end up in the hands of the militias in the corruption-prone country.
The panel gave the green light last year for Russia to supply 1 700 AK-47s to the national forces in January, and gave its approval again to the French shipments.
But in June, France, Britain, and the United States blocked a request from the CAR for approval of Chinese weapons deliveries.
"From France's point of view, there is in principle no obstacle to ending the embargo" permanently, Parly said on Tuesday.
She stressed: "What is important is that these weapons, after they are delivered to the Central African armed forces, can be identified, stored and traced."
The CAR has an army of just 7 000 men in a population of 4.5 million. They are facing militia groups estimated to be at least similar in numbers.
Russia has sent 170 military instructors - suspected by western sources to be mercenaries linked to Russian mining companies in the mineral-rich CAR.
France, the former colonial power, sent 2 000 troops to quell the Seleka rebels, winding down the operation in 2016 after President Faustin-Archange Touadera was elected.
It has around 200 troops in the CAR today, working in support of the armed forces and the UN peacekeeping mission here.
Parly said that France was the CAR's "major partner for development aid", providing $147 million annually.
The 1 400 guns handed over by France are a gift, French officials said.
They were seized aboard a dhow off Somalia in 2016 that was intercepted for breaching an arms embargo with Yemen, they said.
The European Union has a military training mission in the CAR that involves 170 people. In July, it pledged $28 million to extend the mission until September 2020.
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Dec 12,2018 SUPPORT REAFFIRMED TO THE AFRICAN INITIATIVE FOR PEACE AND RECONCILIATION IN CAR
The Central African Government and MINUSCA reiterated on Wednesday their support for the dialogue process under the African Union Initiative for Peace and Reconciliation in the Central African Republic. The spokespersons of the Executive, the Minister of Communication and Media Angel Maxime Kazagui, and MINUSCA, Vladimir Monteiro, were speaking in Bangui, during the two-monthly joint press conference of the two institutions.
"The Government is engaged in this process of dialogue. This is a process put in place at the request of the President of the Republic, "said the minister and spokesman, adding that the Government was going this Wednesday to the National Assembly for a session on the African Initiative. For his part, the MINUSCA spokesperson reiterated the importance of the dialogue process, under this initiative, to "support the authorities to reduce the presence and threat of armed groups".
During the joint press conference, the minister and spokesman announced the launch of the large DDRR (Disarmament, Demobilization, Reintegration, Repatriation) by President Faustin Touadéra, on December 17, in Paoua with the armed groups of the West of the country. For MINUSCA, this is a great moment that "will have to reach other regions" in accordance with the commitments made by all the armed groups in 2015 in Bangui.
The Government spokesman also spoke about the deployment of the Central African Armed Forces (FACA), including Bocaranga, highlighting their "contribution to security where they are deployed, alongside peacekeepers." "In 2018, we witnessed the strengthening of the partnership, in the field, between MINUSCA and the FACA, following their deployment in Paoua, Bangassou, Sibut, Bambari and Bouar", for its part, said the spokesperson of MINUSCA. "The international community as a whole supports the FACA, including training by the European Union, the granting of weapons by Russia, vehicles by the United States of America, support equipment by the United States of America. France and non-lethal weapons by China. With regard to MINUSCA, this support will continue in particular in the context of the recruitment process of the 1.
The MINUSCA spokesperson also announced the UN Security Council's upcoming renewal of the Mission's mandate, noting that the new mandate will be aimed at strengthening the gains, especially in the area of the restoration of authority. of the State throughout the territory. "The Mission will continue its close collaboration with the Central African authorities and other Central African actors, but also with the population, in Bangui as well as in the prefectures, to explain this new mandate and to implement it," he concluded.
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Central African Republic: Russian President Vladimir Putin is planning an official visit to Bangui in very soon!
Posted on Thursday December 13th 2018 | The Central African Potential
Russian President Vladimir Putin will visit the capital of CAR, Bangui, with an official visit to strengthen relations between the two countries. As Kremlin sources have shared, the Russian leader plans to discuss during his visit the security problems of the CAR and the development issues of the country.
It is nice that our Russian partners are seeing the progress of mutually beneficial relations between CAR and Russia. Moscow understands that the dialogue with our country should not be based on the position of force, they do not try to impose their point of view, they know that African problems require an African solution. Russia is close to us in spirit. Russia has never subjugated anyone, for centuries it has defended its territories from foreign incursions. Our Russian friends know that it is the struggle for independence. Even today, when many defense documents are in force, Russia is oppressed by economic sanctions.
The visit of Russian President Vladimir Putin means that Russia is ready for dialogue at the highest level. The talks of the Russian leader with Faustin-Archange Touadéra will be a mark in the modern history of our country. It is not excluded that the Presidents will enter into mutual agreements with each other.
We would like to remind you that Russian Minister of Foreign Affairs Sergei Lavrov held talks with RCA President Faustin-Archange Touadera earlier. The Russian Minister and the CAR leader had an "on the spot" meeting of the 73rd session of the UN General Assembly New York. The parties discussed issues of humanitarian partnership, trade and economic interaction, and up-to-date political relations issues.
Sergei Lavrov and Faustin-Archange Touadéra discussed the prospects for the national regulation process in CAR. During the meeting, it was agreed that it is very important to harmonize the international efforts aimed at stabilizing the situation in the Central African Republic within the framework of the African Union Peace Initiative.
It is important to note that the friendly country, Russia, has already made a great contribution to the process of peaceful settlement in CAR. With the help of Russian diplomats members of the "Antibalaka" and Ex-Seleka groups sat down at the negotiating table with representatives of the Central African Republic authorities and signed the Khartoum Declaration. It is noted in the document that all parties to the dialogue are interested in establishing peace and stabilizing the situation in CAR throughout the country.
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UN extends Central African Republic peacekeeping mission
By Associated Press December 13 at 5:01 PM UNITED NATIONS — The U.N. Security Council has approved a resolution extending the mandate of the 14,600-strong U.N. peacekeeping mission in conflict-wracked Central African Republic.
The French-drafted resolution adopted Thursday urges all militias and armed groups in the country “to lay down their arms, cease all forms of violence and destabilizing activities.”
It calls on President Faustin-Archange Touadera to advance talks with armed groups and national reconciliation “without delay.”
Russia and China abstained from voting.
Russian Ambassador Vassily Nebenzia said Moscow supports the peacekeeping force but he sharply criticized France for not including Russian concerns in the resolution. Russia wanted the U.N. force to support its training of Central African Republic troops.
The country has faced interreligious and intercommunal fighting since 2013, and violence has intensified and spread in the past year.
Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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MEPs approve ratification of military cooperation agreement between Central African Republic and Russia 2018-12-14 Central African Republic , POLITICS Bangui, Central African Republic (ADV) - The elected officials of the nation voted yesterday by acclamation the bill to ratify the defense agreement between the Central African Republic and Russia, a new partner in the security environment in the Central African Republic.
"The Russian military is currently with our military in some provincial towns. And this Defense Agreement will further strengthen our military cooperation, "said Marie Noëlle Koyara, Central African Minister of Defense.
This vote of the people's elected representatives comes in a context where the Russian presence in the Central African Republic was not at all appreciated by some Western powers who consider the Russian instructors here as mercenaries. The vote of the deputies of the national assembly formalizes this military cooperation.
This military cooperation agreement with Russia completes the list of other agreements with countries and partners such as France, China, the European Union and the United States in several areas of common interest.
"We are delighted to see the members of this House vote in favor of this Defense Agreement that will allow our military and our homeland security forces to protect us and to have a different dimension and to respond to the challenges that lie ahead. impose on us, "said the Minister Delegate of Foreign Affairs, Chancel Sékodé Ndeugbayi.
According to ADV information, this agreement will also allow Russia to support the Central African armed forces in the field of intelligence and provides for the training of Central African military in Russian military academies and military assistance between the two countries in case of foreign aggression . Russia could increase the number of its troops in the country as well as its material and military equipment.
This parliamentary exercise comes after the signing of a memorandum of understanding on August 21, 2018, between the Central African Republic and Russia, on the sidelines of the Armaments Forum in Russia.
Fakhir Rizvi 4 hours ago Tue 18th December 2018 | 04:52 PM
MOSCOW (UrduPoint News / Sputnik - 18th December, 2018) Russian efforts toward resolving the crisis in the Central African Republic (CAR) are in line with the African Union's policies, and the West's attempts to prove otherwise are groundless, Andrei Kemarsky, the director of the RussianForeign Ministry's Department of Africa, told Sputnik.
"I'd like to emphasize that Russian and Sudanese efforts that contributed to the signing of the Khartoum Declaration do not in any way contravene the African Union's steps. Moreover, the declaration stresses that the measures that it envisages are directly linked to the African peace initiative. Our Western partners' attempts to contrast Russian efforts with the African Union policy are absolutely groundless," Kemarsky said.
The senior diplomat specified that Russia considered the African Initiative for Peace and Reconciliation in CAR, which the African Union approved in January 2017, as the basis of the peace process.
He added that it was within this initiative that Russia-brokered peace talks between the major warring parties were held in the Sudanese capital of Khartoum, which resulted in the signing of the Khartoum Declaration. Kemarsky also called on the country's authorities to launch a national reconciliation process that is mediated by Russia, the European Union, and regional and international organizations.
On August 28, the same day when the two-day talks finished, a meeting within the African Initiative for Peace and Reconciliation in CAR started, during which representatives of 14 armed groups made an effort toward creating a common platform for talks with the government.
Kemarsky voiced his belief that western states, including France, were jealous of Russia's increasing role in the CAR settlement process.
"Although terror acts continue, as well as confrontations between armed groups and governmentforces, the process is generally becoming more and more positive. Russia's contribution is quite substantial, while western states' involvement has clearly become less efficient," the diplomat said, specifying that France failed to achieve positive changes in spite of being historically present in CARdue to its colonial past.
He said that Russia's engagement in the settlement process had yielded progress, and that the country's role was becoming more dominant even though it had been present in CAR for only just a year.
"This causes concern and jealousy of the countries that were traditionally influential in CAR and regarded the state as their patrimony," Kemarsky specified.
The diplomat added that since the West was concerned over Russia's strengthening position, they were spreading misinformation, pursuing slanderous campaigns, introducing sanctions and also trying to hamper Russian business.
CAR has been struggling to stop the conflict between the mainly Muslim armed group Seleka, Christian Anti-balaka militia and government forces since 2012.
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IMF Executive Board Completes Fifth Review Under Extended Credit Facility Arrangement for Central African Republic and Approves US$31.6 Million Disbursement
IMF Executive Board also concludes the 2018 Article IV consultation. The Central African Republic authorities implement a comprehensive economic reform program to entrench macroeconomic stability, buttress inclusive growth, and reduce poverty. Growth is estimated at 4.3 percent in 2017 and is expected to remain broadly unchanged. On December 19, 2018, the Executive Board of the International Monetary Fund (IMF) completed the fifth review under the Extended Credit Facility (ECF)arrangement for the Central African Republic. Completion of this review enables the disbursement of SDR 22.84 million (about US$31.6 million).
The three-year ECF arrangement was approved by the IMF Executive Board on July 20, 2016 and access has been augmented twice to a total of SDR 133.68 million (about US$185.2 million or 120 percent of the Central African Republic’s quota).
Following the Executive Board’s discussion on the Central African Republic, Mr. Mitsuhiro Furusawa, Deputy Managing Director and Acting Chair, made the following statement:
“Central African Republic’s performance under the ECF‑supported program has been satisfactory despite a challenging security environment and difficult humanitarian conditions.
“The authorities remain committed to maintain fiscal policy consistent with macroeconomic stability, which is critical for economic growth and poverty reduction. The 2019 budget is anchored to the domestic primary balance objective while allowing a scale-up of social and capital spending. The integration in the budget of previously excluded revenues and expenses of government agencies and funds is an important step to enhance fiscal transparency.
“Strong efforts to mobilize domestic revenues, which remain weak, will be critical to sustainably finance an increase of public services. To that end, the authorities will step up the use of IT tools and modernize the customs and revenue administration. Given the country’s high risk of debt distress, continued reliance on grant financing is essential to support debt sustainability. The implementation of the investment program for the National Recovery and Peacebuilding Plan will boost economic prospects, create jobs, and reduce poverty.
“Structural reforms have progressed, contributing to the strengthening of the treasury single account, streamlining of quasi-fiscal taxes, improved budget transparency and traceability of domestic revenues. Quarterly publication of budget execution reports allows for better tracking and monitoring of government expenditures. More consideration should be given to strengthening financial oversight of public institutions and state-owned enterprises, reducing exceptional payment procedures, improving the business climate, and strengthening the asset declaration regime. It will also be important to follow through on commitments to strengthen governance and transparency in the management of natural resources.
“Central African Republic’s program continues to be supported by the implementation of supportive policies and reforms by the regional institutions in the areas of foreign exchange regulations and monetary policy framework and to support an increase in regional net foreign assets, which are critical to the program’s success.”
The Executive Board of the IMF also concluded the 2018 Article IV consultation with the Central African Republic.
Growth is estimated at 4.3 percent in 2017 and is expected to remain broadly unchanged driven by a dynamic forestry sector, construction and externally financed investment projects. Inflation fell on the back of price declines for food and manufacturing products. Growth could increase to 5 percent in the medium term. However, risks are on the downside, mainly due to the volatile security situation. The projections are predicated on progress in peace and reconciliation efforts under the African Union Initiative, the gradual extension of security forces and public services in provinces, and steadfast implementation of reforms.
In July 2018, the Parliament passed a revised budget to reflect the fiscal performance in the first half of the year. Data through end-September confirms that the fiscal deficit remains contained and that the fiscal program is on track. The current account deficit is estimated at 8.3 percent of GDP in 2017. Currently available information suggests it will remain at a similar level in 2018. While the oil import bill is set to increase, higher timber exports and the sale of stockpiled diamonds will offset the effect on the trade balance. The banking sector remained stable and credit growth to the economy has picked up to 5.2 percent (y-o-y) at end-September 2018.
The Central African Republic authorities have implemented a comprehensive economic reform program to entrench macroeconomic stability, buttress inclusive growth, and reduce poverty. The parliament adopted a 2019 budget consistent with macroeconomic stability. The 2019 budget enhances fiscal transparency by integrating previously excluded fiscal revenues and expenditure. The authorities also envisage to increase social spending. To bolster growth prospects, resilience, and poverty reduction, the authorities have committed to strengthen fiscal revenue mobilization, enhance good governance, promote gender equality and improve the business climate.
Executive Board Assessment [1]
Executive Directors agreed with the thrust of the staff appraisal. Given the persistent insecurity and the large humanitarian needs of the population, they recognized the Central African Republic’s efforts to implement its economic program and the satisfactory performance under the ECF arrangement. Directors stressed the importance of rebuilding sound institutions and maintaining macroeconomic stability, which provide an important opportunity toward exiting fragility. Against this difficult backdrop, Directors welcomed the authorities’ continued commitment to the program objectives, and underscored the need to implement the National Recovery and Peacebuilding Plan and the development agenda to boost economic prospects. Directors emphasized that higher and inclusive growth will be critical to create jobs and reduce poverty. They underlined the importance of continued Fund engagement through ongoing technical assistance and close coordination with other development partners, paying due regard to the country’s absorptive capacity.
Directors welcomed the authorities’ commitment to ensure that fiscal policy remains consistent with macroeconomic stability while stepping up social spending. They underscored the importance of further improving domestic revenue mobilization to sustainably expand the provision of public services. In this regard, Directors encouraged the authorities to further strengthen customs and tax administration, enhance information exchange between government agencies, modernize payment systems, and use IT systems more comprehensively. They commended the authorities for integrating in the 2019 budget previously excluded expenditures and revenues from government agencies and funds, as well as for increasing the budget allocation for key ministries providing social services. Directors welcomed the recent simplification of the oil price structure that would limit the fiscal impact of higher global oil prices.
Directors noted the progress in improving public financial management, including regular and timely budget execution reporting and reduced use of exceptional spending procedures. They encouraged the authorities to further streamline quasi‑fiscal taxes and levies. Directors underscored the importance of good governance and the fight against corruption. They encouraged the authorities to strengthen the asset declaration regime, implement the United Nations Convention against Corruption, and improve the management of natural resources, including by adhering to the principles of the Extractive Industries Transparency Initiative.
Directors noted the staff assessment that the external position appears weaker than implied by medium‑term fundamentals and desirable policies. They pointed out that the insecurity, high transportation cost, and a weak judicial system undermine the country’s attractiveness for investment. Noting the high risk of debt distress, Directors recommended limiting borrowing and seeking instead to mobilize grant financing to its fullest extent. They also called for continued efforts to resolve external arrears. Directors welcomed progress to clear domestic arrears and encouraged steadfast implementation of the strategy while ensuring transparency and accountability of the process.
Directors noted that the Central African Republic’s program continues to be supported by the implementation of policies and reforms by the regional institutions, which are critical to the program’s success. These comprise the implementation of the three policy assurances provided in the June 2018 Letter of Policy Support, as updated with respect to the assurance on NFAs by the December 2018 Letter, and as discussed in the December 2018 union‑wide background paper. Completion of the sixth review will be conditional on the implementation of these policy assurances.
It is expected that the next Article IV consultation with the Central African Republic will be held in accordance with the Executive Board decision on consultation cycles for members with Fund arrangements.
Table 1. Central African Republic: Selected Economic and Financial Indicators, 2016–23
Sources: C.A.R. authorities and IMF staff estimates and projections.
1 Expenditure is on a cash basis.
2 Excludes grants, interest payments, and externally-financed capital expenditure.
3 Comprises government debt to BEAC, commercial banks and government arrears.
[1] At the conclusion of the discussion, the Managing Director, as Chairman of the Board, summarizes the views of Executive Directors, and this summary is transmitted to the country's authorities. An explanation of any qualifiers used in summings up can be found here:http://www.imf.org/external/np/sec/misc/qualifiers.htm .
IMF Communications Department MEDIA RELATIONS PRESS OFFICER: GEDIMINAS VILKAS
PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG
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AXMIN CFO Says Finances, Turnaround in CAR Drove 2018 Gains Olivia Da Silva - December 24th, 2018
Despite staying quiet on the news front in 2018, AXMIN (TSXV:AXM) had a wildly successful yearwith regard to its share price, which is currently up nearly 700 percent year-to-date.
In a conversation with the Investing News Network (INN), AXMIN CFO David Weill shared insight on the spike, which he says was driven by three main factors, including a royalty stream in Senegal with miner Teranga Gold (TSX:TGZ) for the Gora deposit.
“If you just look at our accounts, we’re cashflow profitable [and] accounting profitable, just on the royalty stream that we have now from Teranga on one site, which is the Gora site, and we have 17 more potential sites to be developed with Teranga,” Weill said. “The second factor is definitely the Central African Republic (CAR) geopolitical situation turning the corner.”
The company, whose Passendro gold project is located in the CAR, has faced hiccups over the last year due to a turbulent time in the the country with relation to local security issues. However, according to Weill, things have started to simmer down in the country through avenues like military reforms and support from countries like France and Russia.
As for the third factor pushing AXMIN ahead, Weill pointed to the company cleaning up its balance sheet and being in a “very strong financial situation.” This stems in part from the company’s royalty agreement with Teranga, mentioned above, which still stands to expand.
“We had numerous properties in Senegal that we basically farmed out to Teranga where we would do a joint development and, since we’re focusing really on the CAR property, we opted to go for a NSR — net smelter return royalty — so we simply take 1.5 percent off the top,” Weill said.
“The first property that came into production was the Gora deposit, which was a huge winner, but we have 17 more. We don’t know what Teranga is planning to do with the additional properties. They do look highly prospective to us, but the fundamental decision now as to exploration and then eventual production lies with Teranga,” he explained.
As mentioned, despite its major share price gain AXMIN put out minimal press releases throughout the year. In fact, the company released a statement in August explaining it was unsure of any specific reason for increased market activity.
However, at the time, AXMIN had been working to settle a drawn-out accounts payable issue with a consultant that helped secure its ownership of licenses in the CAR. Weill told INN that the statement was a standard way of informing the TSX that nothing with the dispute had been officially resolved yet, but also said he feels the growth in activity came from the market re-evaluating the CAR’s profitability.
“We were in the process of getting TSX approval for eliminating the accounts payable, which we did by issuing shares of about three times the market price, and also paying a certain amount of cash,” he said. “But that transaction was not complete, and the market had no knowledge of it. What the market was doing, in my opinion, was reassessing the prospects of the CAR as a country.”
With the CAR’s geopolitical situation now on the rise and AXMIN’s check book being a clean slate, the company has plans in 2019 to step up its online presence and further develop its assets.
“I think you’re seeing the very beginning of it in that we’re going to be highly communicative,” Weill said.
“We’re going to be far more proactive in our press releases and we’re basically looking to develop our in-country staff, further our relationship with the government and the government agencies that will be directly involved with our operation. We’re going to be actively soliciting strategic partners to assist us in developing the assets and we’re really just going to take it from there.”
As of Monday (December 24) at 1:00 p.m. EST, AXMIN’s share price was sitting at C$0.235, up 683.33 percent year-to-date.
Don’t forget to follow us @INN_Resource for real-time news updates!
Securities Disclosure: I, Olivia Da Silva, hold no direct investment interest in any company mentioned in this article.
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December 25, 2018 After several years of violence, the CAR is starting to return to its old-fashioned atmosphere. The preparations for the end of year festivities are going well and Bangui is vibrating with the Christmas celebration. Markets and streets are teeming with toys and the world.
Almost all markets, department stores and avenues are full of toys of all kinds.
To avoid any overflow on the avenues of the city center, the central city hall decided this year to create a common Christmas market. A soccer field in the 1st arrondissement houses this place, " quickly become attractive" according to Emile Gros-Raymond Nakombo, mayor of Bangui.
The existence of this common market has created a real competition between toy merchants. Those who benefit are the customers who come in droves. For some, prices are affordable this year, others think the opposite. According to the vendors, the restoration of security on the Bangui-Douala axis has allowed the mass arrival of toys, which has considerably lowered prices, as confirmed a trader at VOA Africa.
Even if a common market selling toys and other objects exists in the 1st arrondissement, the markets, streets and neighborhoods of other boroughs vibrate to the sound of trumpets, whistles, blows of horns.
In short, the Central African capital is recovering its atmosphere before the security crisis.
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New CAR Mining & Geology Website Promoting Investment
If you go to the website and translate it from French To English, you'll see that there's a big push from the government to invest in the country. Lots of projects are oil & gas based, but I bet they add Passendro sometime this year.
Gouvernement de la Centrafrique is with Louis-Firmin Kongoubé and 35 others in Bangui, Central African Republic. 3 hrs · Dear all I welcome you to the official portal of the ministry of mines and geology https://mines.gouv.cf/. this site to meet public expectations for information on the mining sector of the central African Republic. Indeed, the mining sector that could have brought economic growth very high, given the immense potential of the central African Republic, has not been at the meeting since the country's accession to independence. This is a matter of concern to which the government of the March 2016 elections attempts to provide a lasting response through the consolidation of the acquis and to draw up new guidelines on innovation and diversification.
Happy and happy year 2019 and Good navigation
Leopold Mboli-fatran
Minister of mines and geology
· See original · Rate this translation Image may contain: 1 person, sitting and suit Gouvernement de la Centrafrique Government Organization
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