Gold Exploration in West Africa

[baystock1]

Any further unloading of their west african properties has stopped. They still have the Komahun project in Sierra Leone where a scoping study showed they could produce at 50,000 oz per year. But I am confident that this can be increased to 100,000 oz per year in time. So this project alone may justify 1/3rd of Axmin's current $80 million market cap.

I agree with you about the CAR, but I am of the opinion that the actual risk is less than is currently perceived. In addition I feel I am being adequately compensated to take on this risk. Where else can you find a near term gold producer selling for less than 1x 2013 cash flow ?