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AXMIN Announces Granting of the Mining Licence at Passendro Gold Project, CAR
Aug. 09, 2010 10:35AM PST
Gold Investing
AXMIN Inc. (CVE:AXM) announced that the President of the Central African Republic has signed a Decree that awards a Mining Licence for the Passendro Gold Project, located within the Bambari permit area.
AXMIN Inc. (TSXV:AXM) announced that the President of the Central African Republic has signed a Decree that awards a Mining Licence for the Passendro Gold Project, located within the Bambari permit area.
The press release is quoted as saying:
Highlights of the decree are : 25 year Mining Licence, Mining title covers the complete area of mineralisation set out in the Feasibility Study, The State receives a signature bonus of US$11 million payable in three tranches and in lieu of any project free-carried interest, the State will be issued 26 million common shares of AXMIN and 20 million common share purchase warrants with an exercise price of US$0.30 and a five year term.
Click here to access the entire press release