Looks like Axmin Inc(AXM & AXMIF) isn't the only company waiting to get back to working in the Central African Republic. BanwaGold signed a deal end of May and their looking to start things up in Q4 2018 which is October-December 2018. This is a very good sign.
BANWAGOLD ROADMAP – STRATEGY Home Timeline ROADMAP – TIMELINE - CAR BanwaGold sells mining contracts to investors seeking to base their assets on gold production. To secure these contracts, BanwaGold signs agreements with small producers and mining cooperatives that produce a weekly amount of gold. This quantity will be multiplied by 4, by 10, then 25 thanks to the mining contracts signed by the investors. This is how we plan this ramp-up in the Central African Republic. This strategy will be implemented in parallel in other African countries.
Q4 2018 Installation of zone 1 and zone 2 exploration. Opening of the foundry Start of direct investment purchases Q2 2019 Installation of zone 2 and zone 3. Sale of the first production of zone 1 Q4 2019 Installation of zone 3 worksites Q4 2020 Industrialization of production Q4 2021 Industrialization of production
STRATEGY – 6 AFRICAN COUNTRIES BanwaGold sells mining contracts to investors seeking to base their assets on gold production. BanwaGold's mining contracts have two components: buying gold and producing gold. Purchase: The small producers and mining cooperatives with which BanwaGold signs agreements produce a weekly quantity of gold that is bought at the best market price. Production: Thanks to mining contracts sold by BanwaGold, small producers and mining cooperatives are able to develop exploration and exploitation processes. Purchases Via our foundry, acquisition of gold via $ 2.5 Million of direct investments and the reinvestment of 70% of the revenues of our production Production Via our local networks of mining cooperatives
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