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Looks as if the Central African Republic is starting to open up for tourism and business. Lots of changes over the last week since all the meetings between CAR officials, Russia, China, Sudan, African Union, United Nations, and other parties. Recently on Google there have been job postings for gold operations, travel Visa applications offered, and a map that shows just about all airplane terminals in the country safe and operational again. Keep in mind that Axmin Inc (AXM/AXMIF) has the only large scale gold mine in the country with a proven resource and ready to go back into production right away.
See links below:
CAR Job Posting 1: https://www.worldwide-rs.com/job/general-manager-jobid-j19864
CAR Job Posting 2: https://www.worldwide-rs.com/job/metallurgical-accounting-superitendent-jobid-j19270
Visa Travel Offer For The Central African Republic: https://www.visahq.ca/central-african-republic/
Operational Flight Routes In The Central African Republic: https://reliefweb.int/sites/reliefweb.int/files/resources/caf_unhas_routes_a4l_20181003_0.pdf
Trip Advisor Offering Flights To The CAR: https://www.tripadvisor.com/Flights-g293777-Bangui-Cheap_Discount_Airfares.html
KFG Resources Ltd. October 2018 Company Presentation: http://kfgresources.com/wp-content/uploads/2018/10/KFG-Resources-Ltd.-October-2018-Company-Presentation.pdf
News: KFG Resources earns $67,334 in quarter ended July 31
2018-10-03 09:08 MT - News Release
Mr. Robert Kadane reports
KFG OPERATIONS UPDATE
KFG Resources Ltd.'s subsidiary, KFG Petroleum Corp., recorded revenues for its quarter ended July 31, 2018, of $397,520 versus $323,300 for its corresponding quarter of 2017. Net income for the July 31, 2018, quarter was $67,334 vs. $17,801 for the July 31, 2017, quarter. The company's current ratio was in excess of two to one for the quarter ended July 31, 2018.
The share buyback proposal was passed by the KFG's board meeting at its annual stockholder meeting. When all paperwork has been completed, details will be announced. Also, capital is being raised from oil industry partners for the project in Graham, Tex., to re-enter and recomplete three wells with an option to recomplete two additional wells. The No. 5 Barnum well in Adams county, Mississippi, was completed as a dry hole to 6,400 feet. KFG had a 22.5-per-cent working interest in the well.
In addition, the payout of the Barnum and Craig leases should add additional free cash flow of approximately $20,000/quarter to the company's offers.
© 2018 Canjex Publishing Ltd. All rights reserved.
New US fund buying Axmin Inc. stock:
https://www.streetinsider.com/SEC+Filings/Form+N-Q+PRUDENTIAL+JENNISON+NATU+For%3A+Jul+31/14646037.html
PGIM Jennison Natural Resources Fund, Inc.
Schedule of Investments
as of July 31, 2018 (unaudited) (continued)
Description Shares Value
COMMON STOCKS (Continued)
Electrical Components & Equipment 1.9%
GrafTech International Ltd.(a) 747,714 ?$ 15,851,537
Sunrun, Inc.*(a) 816,834 11,550,032
27,401,569
Fertilizers & Agricultural Chemicals 1.8%
FMC Corp. 165,991 14,919,271
Nutrien Ltd. (Canada) 209,940 11,380,847
26,300,118
Gold 5.6%
Agnico Eagle Mines Ltd. (Canada) 460,417 19,282,264
Alacer Gold Corp.*(a) 3,158,225 6,846,442
Algold Resources Ltd. (Canada), 144A*(a) 43,790 3,114
Axmin, Inc. (Canada)* 666,158 70,413
Barrick Gold Corp. (Canada) 22,387 250,511
Guyana Goldfields, Inc. (Canada)* 163,830 503,763
Guyana Goldfields, Inc. (Canada), 144A* 2,654,213 8,161,473
Kinross Gold Corp. (Canada)* 1,959,065 7,052,634
Newmont Mining Corp. 541,196 19,851,069
Randgold Resources Ltd. (United Kingdom), ADR(a) 249,526 18,427,495
80,449,178
Integrated Oil & Gas 5.0%
Chevron Corp. 2,445 308,730
Occidental Petroleum Corp. 6,460 542,188
Royal Dutch Shell PLC (Netherlands)(Class A Stock) 809,712 27,750,785
Suncor Energy, Inc. (Canada) 997,990 42,055,299
70,657,002
Oil & Gas Drilling 2.5%
Independence Contract Drilling, Inc.* 1,722,043 6,939,833
Patterson-UTI Energy, Inc. 1,245,774 21,427,313
Rowan Cos. PLC(Class A Stock)* 486,895 7,050,240
35,417,386
Oil & Gas Equipment & Services 14.5%
Baker Hughes a GE Co. 7,956 275,118
Cactus, Inc.(Class A Stock)* 294,649 9,640,915
Core Laboratories NV 140,081 15,705,882
FTS International, Inc.* 522,628 6,271,536
New US Fund buying Axmin Inc stock:
https://www.streetinsider.com/SEC+Filings/Form+N-Q+PRUDENTIAL+JENNISON+NATU+For%3A+Jul+31/14646037.html
PGIM Jennison Natural Resources Fund, Inc.
Schedule of Investments
as of July 31, 2018 (unaudited) (continued)
Description Shares Value
COMMON STOCKS (Continued)
Electrical Components & Equipment 1.9%
GrafTech International Ltd.(a) 747,714 ?$ 15,851,537
Sunrun, Inc.*(a) 816,834 11,550,032
27,401,569
Fertilizers & Agricultural Chemicals 1.8%
FMC Corp. 165,991 14,919,271
Nutrien Ltd. (Canada) 209,940 11,380,847
26,300,118
Gold 5.6%
Agnico Eagle Mines Ltd. (Canada) 460,417 19,282,264
Alacer Gold Corp.*(a) 3,158,225 6,846,442
Algold Resources Ltd. (Canada), 144A*(a) 43,790 3,114
Axmin, Inc. (Canada)* 666,158 70,413
Barrick Gold Corp. (Canada) 22,387 250,511
Guyana Goldfields, Inc. (Canada)* 163,830 503,763
Guyana Goldfields, Inc. (Canada), 144A* 2,654,213 8,161,473
Kinross Gold Corp. (Canada)* 1,959,065 7,052,634
Newmont Mining Corp. 541,196 19,851,069
Randgold Resources Ltd. (United Kingdom), ADR(a) 249,526 18,427,495
80,449,178
Integrated Oil & Gas 5.0%
Chevron Corp. 2,445 308,730
Occidental Petroleum Corp. 6,460 542,188
Royal Dutch Shell PLC (Netherlands)(Class A Stock) 809,712 27,750,785
Suncor Energy, Inc. (Canada) 997,990 42,055,299
70,657,002
Oil & Gas Drilling 2.5%
Independence Contract Drilling, Inc.* 1,722,043 6,939,833
Patterson-UTI Energy, Inc. 1,245,774 21,427,313
Rowan Cos. PLC(Class A Stock)* 486,895 7,050,240
35,417,386
Oil & Gas Equipment & Services 14.5%
Baker Hughes a GE Co. 7,956 275,118
Cactus, Inc.(Class A Stock)* 294,649 9,640,915
Core Laboratories NV 140,081 15,705,882
FTS International, Inc.* 522,628 6,271,536
African Union adopts Sudan’s initiative for peace in Central African Republic
http://www.sudantribune.com/spip.php?article66341
September 29, 2018 (KHARTOUM) - The African Union has adopted Sudan initiative for peace in the neighbouring Central African Republic (CAR) said the Sudanese foreign ministry.
The announcement was made after a meeting held on the sidelines of the UN General Assembly meetings in New York on Friday including Faustin-Archange Touadéra CAR President, Moussa Faki Chairperson of the African Union Commission, El-Dirdeiry Ahmed Sudan’s Foreign Minister, and Rwandan Foreign Minister Louise Mushikiwabo.
"The meeting discussed the developments in the situation in the Central African Republic and means of implementing the African Initiative for Peace and Reconciliation and linking it to Sudan’s initiative, which aims to achieve the same goal," said a statement released by the Sudanese foreign ministry.
Last August, the Sudanese government hosted a meeting for peace in CAR including the main armed groups, the Christian anti-Balaka militia of Maxime Mokom and Muslim Seleka armed faction led Noureddine Adam. The Central African government was not part of the Russian brokered meeting.
At the end of the meeting, the two groups issued The Khartoum Declaration of Understanding of the Central African Armed Groups where they said they are firmly committed to peace. Further, they called to consider the African initiative.
"The meeting confirmed the acceptance by all the concerned parties of the Sudanese initiative which has been adopted by the African Union on the same day by the Head of the Commission, Mr Moussa Faki, in the presence of the Secretary-General of the United Nations and all the Ministers of Foreign Affairs of CAR’s neighbouring states," further said the Sudanese foreign ministry.
Sudan which eyes developing trade and business with CAR said committed to curbing weapon trafficking between the troubled central African country and Darfur region. Also, Russian mining firms working in CAR use Port Sudan and Khartoum expects they positively impact Darfur region.
(ST)
African Union adopts Sudan’s initiative for peace in Central African Republic
http://www.sudantribune.com/spip.php?article66341
September 29, 2018 (KHARTOUM) - The African Union has adopted Sudan initiative for peace in the neighbouring Central African Republic (CAR) said the Sudanese foreign ministry.
The announcement was made after a meeting held on the sidelines of the UN General Assembly meetings in New York on Friday including Faustin-Archange Touadéra CAR President, Moussa Faki Chairperson of the African Union Commission, El-Dirdeiry Ahmed Sudan’s Foreign Minister, and Rwandan Foreign Minister Louise Mushikiwabo.
"The meeting discussed the developments in the situation in the Central African Republic and means of implementing the African Initiative for Peace and Reconciliation and linking it to Sudan’s initiative, which aims to achieve the same goal," said a statement released by the Sudanese foreign ministry.
Last August, the Sudanese government hosted a meeting for peace in CAR including the main armed groups, the Christian anti-Balaka militia of Maxime Mokom and Muslim Seleka armed faction led Noureddine Adam. The Central African government was not part of the Russian brokered meeting.
At the end of the meeting, the two groups issued The Khartoum Declaration of Understanding of the Central African Armed Groups where they said they are firmly committed to peace. Further, they called to consider the African initiative.
"The meeting confirmed the acceptance by all the concerned parties of the Sudanese initiative which has been adopted by the African Union on the same day by the Head of the Commission, Mr Moussa Faki, in the presence of the Secretary-General of the United Nations and all the Ministers of Foreign Affairs of CAR’s neighbouring states," further said the Sudanese foreign ministry.
Sudan which eyes developing trade and business with CAR said committed to curbing weapon trafficking between the troubled central African country and Darfur region. Also, Russian mining firms working in CAR use Port Sudan and Khartoum expects they positively impact Darfur region.
(ST)
Article: Anthracite Coal Market Heating Up Due To Global Demand & Supply Issues
http://news-australia-today.com/index.php/2018/09/28/anthracite-market-analysis-to-2023-top-10-companies-trends-growth-factors-business-development-and-industry-analysis/
Anthracite Market Analysis to 2023 | Top 10 Companies, Trends, Growth Factors, Business Development and Industry Analysis
SEPTEMBER 28, 2018 BY MARKET RESEARCH FUTURE IN ANTHRACITE MARKET, MARKET · 0 COMMENT
Anthracite is the high-level ranking coal because it is rigid, carbon concentrated, has less moisture content, and burns efficiently than other coals. Due to its excess carbon storage and low volatiles, anthracite is more reactive and efficient with respect to energy released than the lower–ranked coals and consequently has a lower environmental impact due to the lower greenhouse gas emissions. Urbanization of the emerging economies is resulting in the largest migration of people in human history. The infrastructure required to support the resulting rapid growth is creating unprecedented demand for steel and the anthracite coal needed to produce it. Combined with declining coal reserves it is expected that there will be long-term global shortage of metallurgical coals. Approximately 500 million tons of new annual metallurgical coal production will be required by the end of the decade to service the growth in demand.
Get sample report now @ https://www.marketresearchfuture.com/sample_request/2742
Global Top 10 Key Players
Key players of the global Anthracite market are: Blaschak Coal Corporation (US), Lehigh Anthracite (US), Atlantic Coal Plc. (UK), Atrum Coal Ltd (Australia), Celtic Energy (US), Vietnam National Coal-Mineral Industries Group (US), Sadovaya Group (Europe), Vostok Coal (Russia), Siberian Anthracite (Russia), Robindale Energy Services, Inc. (U.S) and others.
Anthracite Market – Intended Audience
Anthracite manufacturers
Traders and distributors of Anthracite
Production Process industries
Potential investors
Raw material suppliers
Nationalized laboratory
Regional analysis:
The global anthracite market is classified on the basis of mixed geographic segmentation which involves regions such as America, Europe, Asia-Pacific, Middle East and Africa. Out of all, Asia Pacific Anthracite market is largest market owing to robust industry growth of application industry in China, Japan and India. At a time Vietnam and Ukraine were the biggest exporters of anthracite are quickly decreasing from the market with their combined exports. The rapid decrease in anthracite exports appears unable to be supplied from other major exporters in Russia and South Africa, resulting in a tight supply and demand dynamic, creating a strong price environment.
China is major dominating country owing to large scale production of end user industries such as metallurgy and power & energy. Russia led to the second position in terms of producing anthracite followed by Ukraine, Vietnam, Korea, South Africa, US, and others. While the major exporter of anthracite in decreasing order are Vietnam, Russia, China, North Korea, South Africa, US, Germany, UK, and others. On the other hand the major importers of anthracite in decreasing order are China, Japan, South Korea, France, Belgium, Bulgaria, Brazil, and others.
Browse Complete Report at https://www.marketresearchfuture.com/reports/anthracite-market-2742
Mining of high-quality anthracite occurs mainly in China, Russia, South Africa, Ukraine, the United States and Vietnam. There is sizeable production in some western European countries, but the quality is primarily suitable only for power generation. In terms of exporting, countries such as Russia and Ukraine have become the dominant suppliers to world markets over the past seven years due to their lower production costs. In Asia, Russia is constantly replacing China and Vietnam in various markets. In the western region, Ukraine is becoming the important anthracite supplier.
Russia has emerged in recent years as the key anthracite supplier to Europe and other markets around the world. Production in Ukraine has been affected by the conflict in the east of the country since 2014 but may recover from now on. Vietnam’s position as world supplier is continuous decaling due to its high cost producing charges. Other sources such as South Africa and the United States focus primarily on their domestic markets, with small exports.
Segmentation
The global Anthracite market is majorly segmented on the basis of application, end users and region. Based on application of Anthracite the market is segmented into fuel, steel making, sinter plants, indurating furnaces, furnace coal replacement, and others. Based on end user the market segmented steel , energy & power, bricks, silicon & glass, synthetic fuels, others and based on region market is segmented into North America, Europe, APAC, Latin America, Middle East & Africa.
The post Anthracite Market Analysis to 2023 | Top 10 Companies, Trends, Growth Factors, Business Development and Industry Analysis appeared first on Herald Keeper.
Canaf Group Inc.(CAF.V) Q3 2018 Results. Financials + MD&A
Ending July 31st 2018. All information can be found at www.sedar.com
TSXV Symbol: CAF - OCTBB Symbol: CAFZF
Price: $0.11
Common Shares: 47,426,195
Insider Holdings: 12,304,085 or 26% - Majority Owned By CEO & Family
Warrants/Options: 0
Website: www.canafgroup.com
Financials (All In US Dollars)
ASSETS
Cash: $1,252,240
Trade Receivables: $1,682,075
Sales Tax Receivable: $20,078
Inventories: $685,983
Prepaid Expenses: $25,496
Property & Equipment: $808,845
Intangible: $1
Total Assets: $4,474,719
LIABILITIES
Trade Payables: $1,684,853
Sales Tax Payable: -$859
Income Tax Payable: $72,029
Current Portion Of Bank Loan: $174,801 - Due Jan 2019
Total Liabilities: $1,930,824
Q1-Q3 Performance
Sales: $12,137,604
Gross Profit: $933,187
G&A Expenses: ($444,535)
Interest Income: $53,645
Income Tax Expense: ($26,192)
Foreign Currency Gain: $119,153
Net Income For 2018: $635,257
Management Discussion & Highlights
OVERALL PERFORMANCE AND OUTLOOK
Revenues for the nine months were $12,137,604 (2017 - $8,443,667) a 43.7% increase, and the Corporation continues to
be profitable with gross profits of $933,187 (2017 - $889,225) a 4.9% increase and net income for nine month period
ended July 31, 2018 of $516,105 (2017 - $595,716) a 13% reduction. While revenues and gross margin have grown,
increased cost of sales produced smaller gross margin percentages, 2018 7.7% (2017 10.5 %). The reduction in the gross
margin is mainly due to major maintenance and re-commissioning costs during the period as well as various one off
costs.
The Corporation expects to continue to operate profitably into Q4, however Revenue is expected to reduce slightly as
demand for calcine reduces slightly due to a slowing in manganese and steel production downstream of the supply chain.
The Corporation cannot be sure of how long this slight reduction in demand will continue for, however remains
confident that Southern Coal will continue to operate profitably as it continues to work with a potential new customer
with the intention to secure a new long-term supply contract.
Whilst continuing to ensure that Southern Coal continues to generate free cash flow, the Corporation is also actively
exploring new opportunities in South Africa and its neighbours, as it accumulates cash and reduces its gearing; from
January 2019 Southern Coal will have completed the repayment of the 14 million Rand loan with ABSA which will
add approximately $26,000 per month to its cash-flow.
The Corporation’s B-BBEE transaction for the sale of 30% of Quantum’s shares in Southern Coal for 18 million Rand
was completed during the quarter. This marks a significant milestone in the strategic plan to bring Southern Coal’s BBBEE
rating in line with its existing and potential new customers’ requirements. The revised effective date for the
transaction is 01 August 2018.
BROAD-BASED BLACK ECONOMIC EMPOWERMENT TRANSACTION (B-BBEE)
As part of Southern Coal’s B-BBEE transformation program, Amandla Amakhulu (Pty) Ltd., (“AAM”), a 100% black,
privately owned, and ringfenced, company incorporated in South Africa, acquired 30% of the issued shares of Southern
Coal, from Canaf’s wholly owned subsidiary, Quantum, for the value of 18 million Rand. The revised effective date
for the transaction is 01 August 2018.
Quantum in return received cumulative, redeemable preference shares in AAM in the amount of the purchase price.
These preference shares shall provide preferential dividends, until redeemed by AAM. These dividends will be secured
by an irrevocable direction from AAM to Southern Coal to pay Quantum such dividends from any distribution to
AAM.
CLAIM AGAINST KILEMBE MINES LIMITED
In August 2006, Canaf, then known as Uganda Gold Mining, announced the termination of any further investment into
its Kilembe Copper-Cobalt Project in Uganda. Since 2007, the Corporation has been engaged in an arbitration with
Kilembe Mines Limited, (“KML”), whereby the Corporation seeks general damages, special damages and costs of the
arbitration from KML for breach of contract.
The legal work, carried out by MMAKS Advocates, Kampala, against KML is at no cost to the Corporation, but any
award in won by MMAKS efforts will be distributed to both MMAKS and Canaf.
Despite the fact that the claim against KML Corporation remains active, the Corporation is unable to give an indication
of either the quantum or any likely date by which the arbitration will be concluded.
Sales
Revenue for the nine months was $12,137,604 (2017 - $8,443,667), 44% increase due to high demand for Southern
Coal's calcine product from both of its main customers, particularly in Q2. The Corporation is confident that
Sales will remain at profitable levels in to Q4, however expects to see a slight reduction in comparison
to Q3, as demand falls off slightly.
Expenses
Expenses for the nine months were $444,535 (2017 - $237,288) an increase of $89,286, 25%, primarily due to
increased costs relating to the B-BBEE program and major maintenance costs on Southern Coal’s old calcining
facilities. Other one off expenses that were incurred during the period were legal costs relating to the Corporation’s
name change, as well as back dated rent for Southern Coal’s premises which were negotiated at approximately $20,000.
General administrative and finance expenses for the nine month period were $418,788 (July 31, 2017 - $312,829) an
unfavorable variance of $105,959, primarily due to increased involvement in South Africa’s B-BBEE program and
increased activity resulting in higher management fees and office expenses. The Corporation incurred extra
management and consultant fees due to the passing of its previous CFO, Zeny Manalo as well as transitional costs
associated with the resignation and appointment of its CFO during the year. The Corporation does not expect any further
extra ordinary management or consultant fees going forward.
Comprehensive Income
The Corporation is not subject to currency fluctuations in its core activities however the Corporation is subject to
transactions in various currencies and the volatility in international currency markets does have an impact on some
costs and the translation into US$ the reporting currency of the Corporation. The current period comprehensive gain on
foreign exchange in the amount of $119,153 (2017 - $27,014) is primarily as a result of the translation into US$ the
reporting currency. As at July 31, 2018 the Corporation has net comprehensive gain of $635,257 (July 31, 2017 -
$622,730.) The Corporation does not hedge net asset translation movements.
LIQUIDITY AND CAPITAL RESOURCES
At July 31, 2018, the Corporation had cash of $1,252,240 (October 31, 2017 - $453,609) and working capital of
$1,735,049 (October 31, 2017 - $1,098,726). Surplus cash and cash equivalents are deposited in interest accruing
accounts.
Working capital components include cash in current or interest bearing accounts, trade and other receivables, sales tax
receivable, inventories and prepaid expenses and deposits, trade and other payables, sales tax payable, income tax
payable, and current portion of long-term debt.
Trade receivables and trade payables are expected to increase or decrease as sales volumes change.
Canaf Investments earns $635,257 (U.S.) in nine months
2018-09-26 07:15 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FINANCIAL RESULTS FOR Q3 2018
Canaf Investments Inc., formerly known as Canaf Group Inc., has released its financial statements and management discussion and analysis for the nine-month period ended July 31, 2018.
Revenue for the nine-month period ended July 31, 2018, increased to $12,137,604 (U.S.), an increase of 43.7 per cent compared with the same period last fiscal year, which generated a net comprehensive income of $635,257 (U.S.) (2017: $622,730 (U.S.)).
For more details and discussion on the results, the financial statements and management discussion and analysis can be viewed on SEDAR or the corporation's website.
About Canaf Investments Inc.
Canaf is a public company listed on the TSX Venture Exchange. Canaf's head office is in Vancouver, Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100 per cent of Quantum Screening and Crushing, a South African-based company that owns 70 per cent of Southern Coal.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
WGC’s China Chapter will boost gold sector: analysts
http://www.globaltimes.cn/content/1120902.shtml
WGC’s China Chapter will boost gold sector: analysts
By Zhang Hongpei Source:Global Times Published: 2018/9/25 22:18:39
The new China Chapter being established by the World Gold Council (WGC) will bolster internationalization of the domestic gold market and offer more opportunities for Chinese gold enterprises to go global, said industry analysts.
The WGC, a leading world organization for the industry, announced on Monday at its annual meeting in the US state of Colorado that it has established a China Chapter, according to a statement the organization sent to the Global Times Tuesday.
The new chapter, which will be chaired by Song Xin, chairman of the China Gold Group, will enable Chinese member companies of the London-based WGC to engage more effectively with the rest of the board, said the statement.
It was announced on the same day that Shanghai-listed Shandong Gold Group will join the WGC board as a member, becoming the second Chinese enterprise on the board after China Gold Group.
"The Chinese gold industry has developed phenomenally over the past couple of decades, and China is now the largest producer and consumer of gold globally. As such, we are delighted that the WGC's membership is expanding, to better reflect the shape of the global gold mining industry," said David Harquail, chair of the WGC, according to the statement.
China's gold output reached 426 tons in 2017 with consumption hitting 1,089 tons, making it the world's No.1 country in terms of production, consumption and processing, Song told the Xinhua News Agency on Tuesday.
Jiang Shu, partner and investment director of Shanghai-based Oak Investment, told the Global Times on Tuesday that with China's upstream gold mining companies becoming strong, the establishment of the new chapter is a natural step in line with the development trend.
"More interaction on the same platform enables domestic and international players to have a better evaluation of the global supply and demand of gold... an increasing number of Chinese gold companies are 'going out' while foreign enterprises are quite interested in the domestic market," said Jiang.
"The new chapter is set to have a far-reaching influence on China's gold market, offering opportunities for domestic companies' upgrading as well as overseas mergers and acquisitions," Zhou Yinghao, an independent analyst of the gold industry, told the Global Times Tuesday.
The platform will enable the Chinese gold supply chain to play a bigger role and have a bigger say in the global gold market, Zhou noted.
Jiang said that more domestic gold producers would expand overseas via the new channel. That will hasten the opening-up of the Chinese gold market, which is currently led by commercial banks in terms of imports.
In 2001, the People's Bank of China, the central bank, ended controlled procurement and distribution of gold, and the precious metal began trading on the Shanghai Gold Exchange the next year. Since then, the market has achieved "remarkable development," especially because it has been a relatively short period, said Zhou.
Yet, related laws and rules, especially basic laws, need to be improved, Jiang pointed out.
"Gold products have become more diversified and their prices are more linked with the international market to meet increasing domestic demand," Zhu said.
In the second quarter of this year, China's total gold demand reached a three-year high of 332.9 tons, data from the WGC showed.
With the establishment of the China Chapter, the current low market price for the metal is likely to increase at the end of this year or the beginning of next year, which will bring many opportunities for the WGC's new China chapter, according to Zhou.
WGC’s China Chapter will boost gold sector: analysts
http://www.globaltimes.cn/content/1120902.shtml
WGC’s China Chapter will boost gold sector: analysts
By Zhang Hongpei Source:Global Times Published: 2018/9/25 22:18:39
The new China Chapter being established by the World Gold Council (WGC) will bolster internationalization of the domestic gold market and offer more opportunities for Chinese gold enterprises to go global, said industry analysts.
The WGC, a leading world organization for the industry, announced on Monday at its annual meeting in the US state of Colorado that it has established a China Chapter, according to a statement the organization sent to the Global Times Tuesday.
The new chapter, which will be chaired by Song Xin, chairman of the China Gold Group, will enable Chinese member companies of the London-based WGC to engage more effectively with the rest of the board, said the statement.
It was announced on the same day that Shanghai-listed Shandong Gold Group will join the WGC board as a member, becoming the second Chinese enterprise on the board after China Gold Group.
"The Chinese gold industry has developed phenomenally over the past couple of decades, and China is now the largest producer and consumer of gold globally. As such, we are delighted that the WGC's membership is expanding, to better reflect the shape of the global gold mining industry," said David Harquail, chair of the WGC, according to the statement.
China's gold output reached 426 tons in 2017 with consumption hitting 1,089 tons, making it the world's No.1 country in terms of production, consumption and processing, Song told the Xinhua News Agency on Tuesday.
Jiang Shu, partner and investment director of Shanghai-based Oak Investment, told the Global Times on Tuesday that with China's upstream gold mining companies becoming strong, the establishment of the new chapter is a natural step in line with the development trend.
"More interaction on the same platform enables domestic and international players to have a better evaluation of the global supply and demand of gold... an increasing number of Chinese gold companies are 'going out' while foreign enterprises are quite interested in the domestic market," said Jiang.
"The new chapter is set to have a far-reaching influence on China's gold market, offering opportunities for domestic companies' upgrading as well as overseas mergers and acquisitions," Zhou Yinghao, an independent analyst of the gold industry, told the Global Times Tuesday.
The platform will enable the Chinese gold supply chain to play a bigger role and have a bigger say in the global gold market, Zhou noted.
Jiang said that more domestic gold producers would expand overseas via the new channel. That will hasten the opening-up of the Chinese gold market, which is currently led by commercial banks in terms of imports.
In 2001, the People's Bank of China, the central bank, ended controlled procurement and distribution of gold, and the precious metal began trading on the Shanghai Gold Exchange the next year. Since then, the market has achieved "remarkable development," especially because it has been a relatively short period, said Zhou.
Yet, related laws and rules, especially basic laws, need to be improved, Jiang pointed out.
"Gold products have become more diversified and their prices are more linked with the international market to meet increasing domestic demand," Zhu said.
In the second quarter of this year, China's total gold demand reached a three-year high of 332.9 tons, data from the WGC showed.
With the establishment of the China Chapter, the current low market price for the metal is likely to increase at the end of this year or the beginning of next year, which will bring many opportunities for the WGC's new China chapter, according to Zhou.
KFG earns $67K USD profit for Q1 2018, results out on sedar: https://sedar.com/DisplayCompanyDocuments.do?lang=EN&issuerNo=00006016
NATCHEZ, Miss., Sept. 20, 2018 /CNW/ -- Robert A. Kadane, President of KFG Resources Ltd., reported today that the Company's subsidiary, KFG Petroleum Corp., Natchez, MS, is moving in and rigging up to drill the Barnum #5 well. It is a 6400' Wilcox test. The Company's working interest is 22.5% (16.875% NRI).
In addition, KFG's Craig #2 paid out effective September 1, 2018. KFG's working interest increased from 11% to 22.5%. Also, to clarify an item in the news release dated September 10, 2018, the capital being raised for the Company's Graham, Texas venture is being raised from oil industry partners, not a private placement stock offering.
The Company's common shares are listed on the TSX, Venture Exchange, Vancouver, B.C. Trading symbol "KFG".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE KFG Resources Ltd.
View original content: http://www.newswire.ca/en/releases/archive/September2018/20/c6488.html
Three significant news articles have come out today which shows support for the Central African Republic on three different fronts:
More than 1,000 Central African military personnel trained by Russia - https://thedefensepost.com/2018/09/19/central-african-republic-russia-1000-military-personnel-trained/
Central African Republic keen to attract Qatari investments - http://www.gulf-times.com/story/606538/Central-African-Republic-keen-to-attract-Qatari-in
AU chief in CAR to boost peace efforts - https://www.journalducameroun.com/en/au-chief-in-car-to-boost-peace-efforts/
AXM is closer now than in the last six years to getting back to Passendro, a multi million ounce gold deposit that was proven up between 2002 to 2012.
Three significant news articles have come out today which shows support for the Central African Republic on three different fronts:
More than 1,000 Central African military personnel trained by Russia - https://thedefensepost.com/2018/09/19/central-african-republic-russia-1000-military-personnel-trained/
Central African Republic keen to attract Qatari investments - http://www.gulf-times.com/story/606538/Central-African-Republic-keen-to-attract-Qatari-in
AU chief in CAR to boost peace efforts - https://www.journalducameroun.com/en/au-chief-in-car-to-boost-peace-efforts/
AXM is closer now than in the last six years to getting back to Passendro, a multi million ounce gold deposit that was proven up between 2002 to 2012.
https://www.thepeninsulaqatar.com/article/17/09/2018/Qatar,-Central-African-Republic-discuss-relations
Qatar, Central African Republic discuss relations
17 Sep 2018 - 4:13
Minister of Administrative Development, Labour and Social Affairs, H E Dr Issa bin Saad Al Jafali Al Nuaimi met yesterday with Minister Mahamat Taib Yacoub, Special Advisor to the Prime Minister of Central African Republic, who is currently visiting Qatar. The meeting discussed bilateral relations in areas of common interest and ways of supporting them.
That brings support now from Russia, China, USA, France, Sudan, Qatar, African Union, European Union, Local Forces(FACA) and the United Nations.
https://www.thepeninsulaqatar.com/article/17/09/2018/Qatar,-Central-African-Republic-discuss-relations
Qatar, Central African Republic discuss relations
17 Sep 2018 - 4:13
Minister of Administrative Development, Labour and Social Affairs, H E Dr Issa bin Saad Al Jafali Al Nuaimi met yesterday with Minister Mahamat Taib Yacoub, Special Advisor to the Prime Minister of Central African Republic, who is currently visiting Qatar. The meeting discussed bilateral relations in areas of common interest and ways of supporting them.
That brings support now from Russia, China, USA, France, Sudan, Qatar, African Union, European Union, Local Forces(FACA) and the United Nations.
Some positive news for the Central African Republic(CAR) as the faster the country stabilizes, the faster AXM gets back to it's gold mine.
https://www.imf.org/en/News/Articles/2018/09/14/pr18348-imf-staff-completes-visit-to-central-african-republic
IMF Staff Completes Visit to Central African Republic
September 14, 2018
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.
Economic recovery continues; growth projected to reach 4.3 percent in 2018.
Strengthening government revenue mobilization remains a priority.
A staff team from the International Monetary Fund (IMF), led by Norbert Toé, visited Bangui during September 7–14, 2018 to review recent developments and program implementation. The IMF supports the economic and financial program of the Central African Republic by an Extended Credit Facility (ECF) [1]arrangement since 2016. On July 2, 2018, the IMF Executive Board approved the fourth review under the ECF, bringing total disbursements under the arrangement to SDR 88 million (about US$ 123.7 million). Discussions covered the draft 2019 budget, structural reforms including the revision of the petroleum price structure, and the government’s strategy to improve public financial management and governance.
At the end of the visit, Mr. Toé issued the following statement:
“The economic recovery continues with growth still projected to reach 4.3 percent in 2018 and accelerate in the medium term. The projections are predicated on the restoration of peace, the extension of public services throughout the country, and a steadfast implementation of reforms. Strong and sustained growth is necessary to create jobs and reduce poverty.
“Based on preliminary data and information collected during the mission, the economic program remains on track. Quantitative monitoring indicators for end-June 2018 agreed with the authorities have been met, but social spending underperformed. Structural reforms are advancing, although with some delays. The team emphasized the need to step up social spending to broaden public support for the reform program.
“The team and the authorities discussed broad outlines of the 2019 draft budget with a focus on accelerating domestic revenue mobilization, consolidating the single treasury account, strengthening public financial management, and increasing social spending to tackle poverty. Given the impact of higher international oil prices on public finances the team urged the authorities to streamline the complex oil price structure. Strengthening government revenue mobilization remains a priority, including by taking decisive steps against fraud.
“Going forward, the team and the authorities agreed on the need to accelerate the efforts to strengthen governance and transparency and sustain structural reforms aimed at improving the business environment.
“The team met with President Touadéra, Prime Minister Sarandji, President of the National Assembly Meckassoua, Minister of Finance Dondra, Minister of Economy Moloua, the National Director of BEAC Mr. Chaibou, senior government officials, as well as donor representatives. The team thanks the authorities for their hospitality, strong cooperation and constructive discussions. The team is expected to return later this year to conduct discussions for the fifth review under the ECF arrangement and the Article IV consultation.”
[1] Central African Republic’s ECF-supported program was approved by the IMF Executive Board in July 2016. The ECF is a lending arrangement that provides sustained program engagement over the medium to long term in case of protracted balance of payments problems.
IMF Communications Department
MEDIA RELATIONS
PRESS OFFICER: ISMAILA DIENG
PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG
Some positive news for the Central African Republic(CAR) as the faster the country stabilizes, the faster AXM gets back to it's gold mine.
https://www.imf.org/en/News/Articles/2018/09/14/pr18348-imf-staff-completes-visit-to-central-african-republic
IMF Staff Completes Visit to Central African Republic
September 14, 2018
End-of-Mission press releases include statements of IMF staff teams that convey preliminary findings after a visit to a country. The views expressed in this statement are those of the IMF staff and do not necessarily represent the views of the IMF’s Executive Board. This mission will not result in a Board discussion.
Economic recovery continues; growth projected to reach 4.3 percent in 2018.
Strengthening government revenue mobilization remains a priority.
A staff team from the International Monetary Fund (IMF), led by Norbert Toé, visited Bangui during September 7–14, 2018 to review recent developments and program implementation. The IMF supports the economic and financial program of the Central African Republic by an Extended Credit Facility (ECF) [1]arrangement since 2016. On July 2, 2018, the IMF Executive Board approved the fourth review under the ECF, bringing total disbursements under the arrangement to SDR 88 million (about US$ 123.7 million). Discussions covered the draft 2019 budget, structural reforms including the revision of the petroleum price structure, and the government’s strategy to improve public financial management and governance.
At the end of the visit, Mr. Toé issued the following statement:
“The economic recovery continues with growth still projected to reach 4.3 percent in 2018 and accelerate in the medium term. The projections are predicated on the restoration of peace, the extension of public services throughout the country, and a steadfast implementation of reforms. Strong and sustained growth is necessary to create jobs and reduce poverty.
“Based on preliminary data and information collected during the mission, the economic program remains on track. Quantitative monitoring indicators for end-June 2018 agreed with the authorities have been met, but social spending underperformed. Structural reforms are advancing, although with some delays. The team emphasized the need to step up social spending to broaden public support for the reform program.
“The team and the authorities discussed broad outlines of the 2019 draft budget with a focus on accelerating domestic revenue mobilization, consolidating the single treasury account, strengthening public financial management, and increasing social spending to tackle poverty. Given the impact of higher international oil prices on public finances the team urged the authorities to streamline the complex oil price structure. Strengthening government revenue mobilization remains a priority, including by taking decisive steps against fraud.
“Going forward, the team and the authorities agreed on the need to accelerate the efforts to strengthen governance and transparency and sustain structural reforms aimed at improving the business environment.
“The team met with President Touadéra, Prime Minister Sarandji, President of the National Assembly Meckassoua, Minister of Finance Dondra, Minister of Economy Moloua, the National Director of BEAC Mr. Chaibou, senior government officials, as well as donor representatives. The team thanks the authorities for their hospitality, strong cooperation and constructive discussions. The team is expected to return later this year to conduct discussions for the fifth review under the ECF arrangement and the Article IV consultation.”
[1] Central African Republic’s ECF-supported program was approved by the IMF Executive Board in July 2016. The ECF is a lending arrangement that provides sustained program engagement over the medium to long term in case of protracted balance of payments problems.
IMF Communications Department
MEDIA RELATIONS
PRESS OFFICER: ISMAILA DIENG
PHONE: +1 202 623-7100EMAIL: MEDIA@IMF.ORG
News: KFG Operations Update (Barnum Drill, Craig Payout, Share Buyback, Texas Project)
https://www.newswire.ca/news-releases/kfg-operations-update-692948991.html
NATCHEZ, Miss., Sept. 11, 2018 /CNW/ -- As previously reported, the Company's Barnum lease, Adams County, MS, paid out in July 2018 and KFG's working interest increased from 9% to 22.5%. The Barnum #5 location has been staked and permitted. Currently, the Company is waiting on a drilling rig which is expected to move into the location as soon as weather permits.
Additionally, the Company's Craig #3 should payout by the end of September, substantially increasing KFG's working interest.
Also, KFG has entered into a farmout agreement with Tracer Operating Company, Graham, Texas to recomplete 3 shallow gas & oil wells with an option to recomplete 3 additional wells. These are shallow recompletions (3600'-4500') in Palo Pinto and Stephens County, Texas. Capital is now being raised for this venture.
In addition, the Company is considering a share buy back proposal. Specifics will be presented to the board at the Board Meeting on September 28, and voted on at that time.
The Company's common shares are listed on the TSX, Venture Exchange, Vancouver, B.C. Trading symbol "KFG".
The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
SOURCE KFG Resources Ltd.
For further information: Robert A. Kadane, President, (940) 723-7052, http://www.kfgresources.com
UNFOLLOW
Sept 3rd 2018 - R14bn deal between SA and China will enable economic growth - https://citizen.co.za/business/2003901/r14bn-deal-between-sa-and-china-will-enable-economic-growth-presidency/
Key notes: South Africa’s Department of Trade and Industry and China’s National Development and Reform Commission also pledged to cooperate on international investment promotion for the African country’s special economic zones and industrial parks, including a 4 600 MW coal-fired plant, a cement plant, and other metallurgical projects. “The projects will see the investment, planning, constructing and operation of coking, ferromanganese, ferrochromium, silico-manganese, stainless steel, supporting administrative service centre and living areas, highways, and a shipping integrated logistics centre among others,” the Presidency said.
Sept 4th 2018 - Is metallurgical coal the next big goldmine for Asian investors? - https://sbr.com.sg/utilities/more-news/metallurgical-coal-next-big-goldmine-asian-investors-0
Don't forget this article as it's crucial to seeing how badly China wants to secure metallurgical coal in South Africa:
July 27th 2018 - Chinese investors plan $10 billion metallurgical complex in South Africa - https://www.reuters.com/article/us-safrica-brics-china/chinese-investors-plan-10-billion-metallurgical-complex-in-south-africa-idUSKBN1KH1E8
CAF is now in it's diversification phase as mentioned in prior news releases over the summer. The metallurgical coal industry is very profitable and those funds can be deployed elsewhere, perhaps in another mining venture.
Steel and ferromanganese are created from the product out of Canaf's facility, which are currently at record production due to global demand
Sept 10 2018 - Manganese takes pole position in ARM’s earnings surge - http://www.engineeringnews.co.za/article/manganese-takes-pole-position-in-arms-earnings-surge-2018-09-10/rep_id:4136
Also a reminder that CAF Q3 results will be out in a few weeks or sooner.
China Pledges Support To Car
Xi meets Central African Republic president - http://www.xinhuanet.com/english/2018-09/06/c_137449561.htm
Senior CPC official meets Central African Republic president - http://www.xinhuanet.com/english/2018-09/06/c_137449711.htm
China Pledges Support To CAR
Xi meets Central African Republic president - http://www.xinhuanet.com/english/2018-09/06/c_137449561.htm
Senior CPC official meets Central African Republic president - http://www.xinhuanet.com/english/2018-09/06/c_137449711.htm
September 5th 2018 news below talks about the DDRR program starting. This was mentioned by Axmin Inc back in May, now it's finally happening with major support from numerous areas:
Article link: https://www.urdupoint.com/en/world/disarmament-reintegration-program-vital-for-425485.html
AXM News In May With Highlight: https://www.marketwatch.com/press-release/chairman-provides-axmins-year-end-2017-financial-and-operational-results-2018-05-07
The Counsellor to the CAR President for Disarmament, Demobilization, Reinsertion and Repatriation ("DDRR") , Colonel Noel Bienvenu Selesson, wrote to AXMIN, "We thank you not only for the efforts made by your Company but also for the reaffirmation of its commitment and its determination to go to the operation. The DDRR process is evolving. After the successful completion of the DDRR/RSS Pilot project that ended on December 19, 2017, we are very actively preparing for the launch of the large DDRR. The provisions in this framework, will allow your Company to resume fairly quickly all its activities in the area as well as in the rest of the country."
September 5th 2018 news below talks about the DDRR program starting. This was mentioned by Axmin Inc back in May, now it's finally happening with major support from numerous areas:
Article link: https://www.urdupoint.com/en/world/disarmament-reintegration-program-vital-for-425485.html
AXM News In May With Highlight: https://www.marketwatch.com/press-release/chairman-provides-axmins-year-end-2017-financial-and-operational-results-2018-05-07
The Counsellor to the CAR President for Disarmament, Demobilization, Reinsertion and Repatriation ("DDRR") , Colonel Noel Bienvenu Selesson, wrote to AXMIN, "We thank you not only for the efforts made by your Company but also for the reaffirmation of its commitment and its determination to go to the operation. The DDRR process is evolving. After the successful completion of the DDRR/RSS Pilot project that ended on December 19, 2017, we are very actively preparing for the launch of the large DDRR. The provisions in this framework, will allow your Company to resume fairly quickly all its activities in the area as well as in the rest of the country."
Seven articles that have come out in the last week showing major progress & support in the Central African Republic. The sooner stability returns, the faster AXM/AXMIF gets it's gold mine back with billions in proven gold as shown in the 43-101 and recent company presentation.
1) Putin Now Pursuing Multiple Long-Term Goals in Central Africa
https://jamestown.org/program/putin-now-pursuing-multiple-long-term-goals-in-central-africa/
2) Russia, Sudan foster deal among Central African militia
https://www.business-standard.com/article/pti-stories/russia-sudan-foster-deal-among-central-african-militia-118083000039_1.html
3) Presidents of African nations hail cooperation
http://www.ecns.cn/news/politics/2018-09-04/detail-ifyxpqun1873984.shtml
4) Sudan says resolved to support efforts for peace in Central African Republic
https://www.sudantribune.com/spip.php?iframe&page=imprimable&id_article=66181
5) The three top faith leaders of the Central African Republic have pledged to work with Russians in order to foster reconciliation in CAR
https://www.sightmagazine.com.au/features/10247-central-african-republic-as-sudan-hosts-peace-talks-russia-offers-to-get-more-involved
6) Russia To Train Central African Republic Armed Forces In Inked Military Deal
https://intelligencebriefs.com/russia-to-train-central-african-republic-armed-forces-in-inked-military-deal/
7) Rival Central African Republic militias agree demands in ‘positive’ African Union meeting
https://thedefensepost.com/2018/08/31/central-african-republic-militias-agree-demands-african-union/
Seven articles that have come out in the last week showing major progress & support in the Central African Republic. The sooner stability returns, the faster AXM/AXMIF gets it's gold mine back with billions in proven gold as shown in the 43-101 and recent company presentation.
1) Putin Now Pursuing Multiple Long-Term Goals in Central Africa
https://jamestown.org/program/putin-now-pursuing-multiple-long-term-goals-in-central-africa/
2) Russia, Sudan foster deal among Central African militia
https://www.business-standard.com/article/pti-stories/russia-sudan-foster-deal-among-central-african-militia-118083000039_1.html
3) Presidents of African nations hail cooperation
http://www.ecns.cn/news/politics/2018-09-04/detail-ifyxpqun1873984.shtml
4) Sudan says resolved to support efforts for peace in Central African Republic
https://www.sudantribune.com/spip.php?iframe&page=imprimable&id_article=66181
5) The three top faith leaders of the Central African Republic have pledged to work with Russians in order to foster reconciliation in CAR
https://www.sightmagazine.com.au/features/10247-central-african-republic-as-sudan-hosts-peace-talks-russia-offers-to-get-more-involved
6) Russia To Train Central African Republic Armed Forces In Inked Military Deal
https://intelligencebriefs.com/russia-to-train-central-african-republic-armed-forces-in-inked-military-deal/
7) Rival Central African Republic militias agree demands in ‘positive’ African Union meeting
https://thedefensepost.com/2018/08/31/central-african-republic-militias-agree-demands-african-union/
New company presentation: http://axmininc.com/images/axmin_presentation_8jun2018.pdf
AXM 2018 Company Presentation Now Out: http://axmininc.com/images/axmin_presentation_8jun2018.pdf
KFG Resources Ltd. September 2018 Company Presentation: KFG Sept 2018 Pres
2018-08-29 14:28 MT - News Release
Ms. Lucy Yan reports
AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE THREE MONTHS ENDING JUNE 30, 2018
Axmin Inc. has released its financial and operating results for the three months ended June 30, 2018. All amounts included in this news release are in U.S. dollars
Highlights:
During the three months ended June 30, 2018, the Company reported royalty income of $576,643 from Gora Projects, compared with $386,655 for the same time period of 2017.
The net income for the three months ended June 30, 2018 was $437,586 compared to $359,338 in the same period of 2017.
LIQUIDITY AND CAPITAL RESOURCES
At June 30, 2018 the Company had cash on deposit in the amount of $1,944,449, accounts and other receivables of $577,237, and prepaid expenses of $5,487. Royalty income receivable of $573,643 has been received subsequent to the period ended June 30, 2018.
Net assets inclined to negative $362,169 at June 30, 2018 compared to negative $1,215,536 at December 31, 2017.
OUTLOOK
We continue our efforts and commitment with our developments in the CAR. We look forward to the time when we can reclaim our operations in CAR again.
About Axmin
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. For more information regarding Axmin visit our website at www.axmininc.com.
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. For more information regarding Axmin visit our website at www.axmininc.com.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
NOTE:
The results above are from Q2 2018 which was April to June 2018. Below is a recap of the last six quarters and all news/financials can be found at www.sedar.com to verify these numbers:
January to December 2017 - Axmin Inc. Earns $1.2 million USD
January To March 2018 - Axmin Inc. Earns $386,115 In Q1 2018
April To June 2018 - Axmin Inc. Earns $415,900 In Q2 2018
2018-08-29 14:28 MT - News Release
Ms. Lucy Yan reports
AXMIN ANNOUNCES FINANCIAL RESULTS FOR THE THREE MONTHS ENDING JUNE 30, 2018
Axmin Inc. has released its financial and operating results for the three months ended June 30, 2018. All amounts included in this news release are in U.S. dollars
Highlights:
During the three months ended June 30, 2018, the Company reported royalty income of $576,643 from Gora Projects, compared with $386,655 for the same time period of 2017.
The net income for the three months ended June 30, 2018 was $437,586 compared to $359,338 in the same period of 2017.
LIQUIDITY AND CAPITAL RESOURCES
At June 30, 2018 the Company had cash on deposit in the amount of $1,944,449, accounts and other receivables of $577,237, and prepaid expenses of $5,487. Royalty income receivable of $573,643 has been received subsequent to the period ended June 30, 2018.
Net assets inclined to negative $362,169 at June 30, 2018 compared to negative $1,215,536 at December 31, 2017.
OUTLOOK
We continue our efforts and commitment with our developments in the CAR. We look forward to the time when we can reclaim our operations in CAR again.
About Axmin
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. For more information regarding Axmin visit our website at www.axmininc.com.
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. For more information regarding Axmin visit our website at www.axmininc.com.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
NOTE:
The results above are from Q2 2018 which was April to June 2018. Below is a recap of the last six quarters and all news/financials can be found at www.sedar.com to verify these numbers:
January to December 2017 - Axmin Inc. Earns $1.2 million USD
January To March 2018 - Axmin Inc. Earns $386,115 In Q1 2018
April To June 2018 - Axmin Inc. Earns $415,900 In Q2 2018
Sunora Foods files Q2 2018 financials, arranges NCIB
2018-08-28 14:30 MT - News Release
Mr. Steve Bank reports
SUNORA FOODS ANNOUNCES 2018 QUARTER 2 FINANCIAL RESULTS AND NORMAL COURSE ISSUER BID
Sunora Foods Inc. has filed its financial statements and management's discussion and analysis for the three-month period ending June 30, 2018. These filings are available for review on SEDAR and at the company's website.
In addition, the Corporation has made application to initiate a Normal Course Issuer Bid ("NCIB") subject to TSX Venture Exchange approval. The Corporation is undertaking the NCIB because it believes its securities are undervalued. The NCIB will be conducted through PI Financial Corp. The Corporation seeks to acquire up to 5% of the issued and outstanding common shares. The maximum number of common shares that will be purchased is 2,172,716.
During the three-month period ended June 30, 2018 Sunora's highlights include the following:
Revenue of $3,684,694 for the 2018 Quarter 2 versus revenue of $3,164,688 for the comparable 2017 Q2:
Net Income for the three-month period ending June 30, 2018 of $46,840 versus a net loss of $243,175 for the comparable period ending June 30, 2017;
Income from operations for the three-month period ending June 30, 2018 of $38,719;
International sales of $1,104,463 for the 2018 Q2 versus international sales of $567,204 for the comparable period;
Cash and Cash Equivalents of $3,300,529 for the period ending June 30, 2018;
FINANCIAL HIGHLIGHTS
Period ending June 30, 2018
Sales $3,684,694
Gross Margin $170,167
Income before Taxes$38,719
Net Income $46,840
Earnings Per Share $0.001
About Sunora Foods
Sunora Foods is a Calgary, Alberta based food oil entity trading and supplying canola oil, corn oil, soybean oil, olive oil, and specialty oils in Canada and internationally under the "Sunora", "Sunera" and numerous private label brands.
© 2018 Canjex Publishing Ltd. All rights reserved.
AXM.V Q2 2018 Results (Financials + MD&A) Ending June 30th 2018
All information is available through Sedar. Numbers below are in US Dollars
Tickers: AXM (CDN) & AXMIF (US)
Price: $0.17
Common Shares: 130,497,381
Options: 8,240,000
Insider/Institutional Holdings: 82,089,114 – 63%
ASSETS
Cash: $1,944,449
Receivables: $577,237
Prepaid Expenses: 5,487
Total Assets: $2,527,173
LIABILITIES
Accounts Payable: $2,376,429
Due To Related Parties: $189,810
Liabilities Of Discounted Operations: $323,103
Total Liabilities: $2,889,342
Three Month Period (Q2)
Revenue: $576,643
Expenses: $146,071
Net Income: $415,900
Earnings Per Share - $415,900 X 1.30(CDN Exchange) = $542,111 / 130.5 Mil Shares = 0.0042c
Six Month Period (Q1 & Q2)
Revenue: $1,067,194
Expenses: $263,256
Net Income For Period: $802,015
Earnings Per Share - $802,015 X 1.30(CDN Exchange) = $1,042,619 / 130.5 mil Shares = 0.008c
Management Discussion & Analysis
During the three months ended June 30, 2018, the Company reported royalty income of $576,643 from Gora Projects, compared with $386,655 for the same time period of 2017. The net income for the three months ended June 30, 2018 was $437,586 compared to $359,338 in the same period of 2016.
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.
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. 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.
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
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 June 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.
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.
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 engaged a consulting company to assist the Company to obtain compensation for its mining properties damage or loss resulted from the civil war in CAR, which amounts to around XAF 18,000,000,000 ($29.0 million) from the government of CAR. In the event that the compensation from the government is received by the Company, the consulting company will be entitled to receive 15% of the total compensation.
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.
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.
Full details of the exploration programs at the Senegal JV can be found on the Teranga website at www.terangagold.com.
AXM.V Q2 2018 Results (Financials + MD&A) Ending June 30th 2018
All information is available through Sedar. Numbers below are in US Dollars
Tickers: AXM (CDN) & AXMIF (US)
Price: $0.17
Common Shares: 130,497,381
Options: 8,240,000
Insider/Institutional Holdings: 82,089,114 – 63%
ASSETS
Cash: $1,944,449
Receivables: $577,237
Prepaid Expenses: 5,487
Total Assets: $2,527,173
LIABILITIES
Accounts Payable: $2,376,429
Due To Related Parties: $189,810
Liabilities Of Discounted Operations: $323,103
Total Liabilities: $2,889,342
Three Month Period (Q2)
Revenue: $576,643
Expenses: $146,071
Net Income: $415,900
Earnings Per Share - $415,900 X 1.30(CDN Exchange) = $542,111 / 130.5 Mil Shares = 0.0042c
Six Month Period (Q1 & Q2)
Revenue: $1,067,194
Expenses: $263,256
Net Income For Period: $802,015
Earnings Per Share - $802,015 X 1.30(CDN Exchange) = $1,042,619 / 130.5 mil Shares = 0.008c
Management Discussion & Analysis
During the three months ended June 30, 2018, the Company reported royalty income of $576,643 from Gora Projects, compared with $386,655 for the same time period of 2017. The net income for the three months ended June 30, 2018 was $437,586 compared to $359,338 in the same period of 2016.
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.
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. 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.
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
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 June 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.
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.
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 engaged a consulting company to assist the Company to obtain compensation for its mining properties damage or loss resulted from the civil war in CAR, which amounts to around XAF 18,000,000,000 ($29.0 million) from the government of CAR. In the event that the compensation from the government is received by the Company, the consulting company will be entitled to receive 15% of the total compensation.
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.
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.
Full details of the exploration programs at the Senegal JV can be found on the Teranga website at www.terangagold.com.
Very positive article below. With Russian/CAR ties growing and several rebel groups giving up arms next month, it's very likely that the country will stabilize and be fully under government control sooner than later. This gives Axmin Inc the opportunity to go back to their gold deposite which has 2.5 million ounces proven and 1.6 million inferred, not including their expansion claims. Keep in mind that they are still getting positive cash flow from their Senegal royalty with Teranga Gold and Q2 2018 results will be out by the end of August or sooner.
https://www.reuters.com/article/us-russia-centralafrica-accord/russia-signs-military-deal-with-the-central-african-republic-agencies-idUSKCN1L60R2
Russia signs military deal with the Central African Republic: agencies
Reuters Staff
2 MIN READ
MOSCOW (Reuters) - Russia and the Central African Republic (CAR) signed a military deal on Tuesday paving the way for Moscow to step up training of CAR’s armed forces, Russian news agencies reported.
FILE PHOTO - Russian Defence Minister Sergei Shoigu and Foreign Minister Sergei Lavrov attend a meeting with Japanese Foreign Minister Taro Kono and Defense Minister Itsunori Onodera in Moscow, Russia July 31, 2018. REUTERS/Maxim Shemetov
Russia’s growing military ties with CAR and its heightened interest in Africa were thrust into the spotlight last month when three Russian journalists were killed while investigating the alleged presence of Russian mercenaries there.
The agreement was signed at a state arms exhibition near Moscow attended by the two countries’ defence ministers, Russian news agencies reported.
Russia delivered light arms to the Central African Republic’s security forces earlier this year and said it had deployed 175 military and civilian instructors to train them.
The RIA news agency cited Marie-Noelle Koyara, CAR’s defence minister, as saying the accord would spur the Russian military training effort.
Koyara did not specify whether the training would take place in Russia, or in CAR with the help of Russian instructors.
Very positive article below. With Russian/CAR ties growing and several rebel groups giving up arms next month, it's very likely that the country will stabilize and be fully under government control sooner than later. This gives Axmin Inc the opportunity to go back to their gold deposite which has 2.5 million ounces proven and 1.6 million inferred, not including their expansion claims. Keep in mind that they are still getting positive cash flow from their Senegal royalty with Teranga Gold and Q2 2018 results will be out by the end of August or sooner.
https://www.reuters.com/article/us-russia-centralafrica-accord/russia-signs-military-deal-with-the-central-african-republic-agencies-idUSKCN1L60R2
Russia signs military deal with the Central African Republic: agencies
Reuters Staff
2 MIN READ
MOSCOW (Reuters) - Russia and the Central African Republic (CAR) signed a military deal on Tuesday paving the way for Moscow to step up training of CAR’s armed forces, Russian news agencies reported.
FILE PHOTO - Russian Defence Minister Sergei Shoigu and Foreign Minister Sergei Lavrov attend a meeting with Japanese Foreign Minister Taro Kono and Defense Minister Itsunori Onodera in Moscow, Russia July 31, 2018. REUTERS/Maxim Shemetov
Russia’s growing military ties with CAR and its heightened interest in Africa were thrust into the spotlight last month when three Russian journalists were killed while investigating the alleged presence of Russian mercenaries there.
The agreement was signed at a state arms exhibition near Moscow attended by the two countries’ defence ministers, Russian news agencies reported.
Russia delivered light arms to the Central African Republic’s security forces earlier this year and said it had deployed 175 military and civilian instructors to train them.
The RIA news agency cited Marie-Noelle Koyara, CAR’s defence minister, as saying the accord would spur the Russian military training effort.
Koyara did not specify whether the training would take place in Russia, or in CAR with the help of Russian instructors.
Canaf finalizes subsidiary Southern Coal B-BBEE deal
2018-08-15 11:12 MT - News Release
Mr. Christopher Way reports
CANAF ANNOUNCES FINALISATION OF B-BBEE TRANSACTION FOR ITS SOUTH AFRICAN SUBSIDIARY
Canaf Investments Inc., formerly known as Canaf Group Inc., has finalized its new Broad-Based Black Economic Empowerment transaction for its South African subsidiary, Southern Coal Pty. Ltd.
Further to the announcement dated July 6, 2018, the corporation can confirm that Amandla Amakhulu (RF) Pty. Ltd., a 100% black, privately owned ringfenced company incorporated in South Africa, has acquired 30% of the issued shares of Southern Coal, from Canaf's wholly owned subsidiary, Quantum Screening and Crushing (Pty) Ltd., ("Quantum"), for the value of R18million (C$1.7m approx), with effective date 03 July 2018.
Quantum has in return received cumulative, redeemable preference shares in AAM in the amount of the purchase price, R18million (C$1.7million approx). These preference shares shall provide preferential dividends, until all preference shares have been redeemed by AAM. These dividends are subject to terms and conditions requiring AAM to pay Quantum such dividends from any distribution received from Southern Coal and is also subject to further protective conditions to the benefit of Quantum.
Christopher Way, Chief Executive Officer of Canaf, states, "the finalisation of the transaction with Amandla Amakhulu marks a significant milestone in a strategic plan to bring Southern Coal's B-BBEE rating in line with our customers requirements. It is with great pleasure to deliver what we have promised to our customers."
About Canaf
Canaf is a public company listed on the TSX-V Exchange. Canaf's head office is in Vancouver, Canada, with subsidiary offices in the United Kingdom and South Africa. Canaf owns 100% of Quantum Screening and Crushing Pty. Ltd., a South African based company that owns 70% of Southern Coal (Pty) Ltd., ("Southern Coal"), a company that produces a high carbon, de-volatised anthracite.
About Southern Coal
Southern Coal produces calcined anthracite, a product used primarily as a substitute to coke in sintering processes. Southern Coal produces calcined anthracite by feeding washed anthracite coal through rotary kilns, at temperatures between 900 and 1100 degrees centigrade; the volatiles are driven off and the effective carbon content increased.
Southern Coal's two largest clients are African leaders in steel and ferromanganese production. Southern Coal operates near Newcastle, KwaZulu-Natal, where Quantum's three kilns operate; the majority of Southern Coal's feedstock anthracite is supplied from local anthracite mines in KwaZulu-Natal.
We seek Safe Harbor.
© 2018 Canjex Publishing Ltd. All rights reserved.
AXMIF Q2 results are out end of August and with recent articles showing positive stabilization of the Central African Republic, the company will be back on Passendro in no time!