Axiom Mining Limited

Published : December 21st, 2015

Off-take agreement and funding with Gunvor

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Off-take agreement and funding with Gunvor

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Axiom Mining Limited

ARBN 119 698 770


6/76 Doggett Street Newstead QLD 4006

Australia


T + 61 7 3319 4100

contact@axiom-mining.com www.axiom-mining.com



ASX Announcement

Off-take agreement and funding with Gunvor

22 December 2015


Highlights

  • Axiom has executed an off-take and ore pre-payment agreement with global independent trading house Gunvor for production from the Isabel Nickel Project:

    • Off-take agreement for up to one year of production

    • Pre-payment financing will deliver up to AU$5 million

  • Discussions with Gunvor are ongoing for a longer term off-take agreement in exchange for a significant financing package.


    Axiom Mining Limited ('Axiom' or the 'Company') is pleased to announce that it has entered into an off-take and ore pre-payment agreement with Gunvor Singapore Pte Ltd ('Gunvor') that may provide up to AU$5 million* of funding to the Company.

    Axiom CEO Mr Ryan Mount said, "We are very pleased to have a company with the capability of Gunvor join us as a commercial and financial partner.

    "Their extensive trading expertise and strong regional footprint will ensure that Axiom is well placed to access the best available markets for nickel laterite ore for commercial production from our world class asset-the Isabel Nickel Project."

    Gunvor Head of Metals Mr René van der Kam said, "Our success as a bulk commodities trader has its roots in long- term business relationships and innovative trading solutions.

    "Axiom has proven to be a company that uniquely understands how to operate in the region and we look forward to working with and supporting them through the next phase of their project development and potentially into other projects."


    Off-take and ore pre-payment agreement

  • Gunvor will acquire 500,000 wet metric tonnes of nickel ore commencing on first commercial production from the Isabel Nickel Project-expected in early 2016 to align with commercial requirements and subject to grant of licences and permits

  • Gunvor will pre-pay a substantial proportion of the value of each shipment of ore, with the balance of each shipment paid from the proceeds of sales to final customers

  • Gunvor will advance up to AU$5 million* in ore pre-payment funding, subject to final due diligence and other standard commercial conditions

  • Gunvor will assume any credit risk of the final customer relating to the on-sale of ore.


ASX Announcement

22 December 2015

Page 2


Additional funding and extension of off-take agreement

Discussions are continuing with Gunvor to provide additional funding of up to AU$10* million, subject to Axiom providing an extension of the off-take agreement with Gunvor for up to four years, amongst other conditions.

Further details will be provided once negotiations are complete.


* All funding is denominated in USD, AUD:USD = 0.70


About Gunvor Group

Gunvor was founded in 2000 as a merchant of crude oil and oil products and has been actively diversifying into other commodities. They are one of the world's largest independent commodity trading groups and have strategically invested in upstream, midstream and downstream assets to create a platform for international expansion.

Gunvor sources commodities from more than 100 countries, works with more than 75 global financial institutions across Asia-Pacific, the Americas, the Middle East and Europe, has industrial assets worth in excess of AU$2.5 billion and in 2014 generated revenue of more than AU$100 billion.



About Axiom Mining Limited


ENDS

Axiom Mining Limited focuses on tapping into the resource potential within the mineral-rich Pacific Rim. Through dedication to forging strong bonds and relationships with the local communities and governments where we operate, Axiom Mining has built a diversified portfolio of exploration tenements in the Asia Pacific region. This includes a majority interest in the Isabel Nickel Project in the Solomon Islands and highly prospective gold, silver and copper tenements in North Queensland, Australia. The Company is listed on the ASX. For more information on Axiom Mining, please visit www.axiom-mining.com


Disclaimer

Statements in this document that are forward-looking and involve numerous risk and uncertainties that could cause actual results to differ materially from expected results are based on the Company's current beliefs and assumptions regarding a large number of factors affecting its business, including litigation ou tcomes in the Solomon Islands Court of Appeal. There can be no assurance that (i) the Company has correctly measured or identified all of the factors affecting its business or their extent or likely impact; (ii) the publicly available information with respect to these factors on which the Company's analysis is based is complete or accurate; (iii) the Company's analysis is correct; or (iv) the Company's strategy, which is based in part on this analysis, will be successful.

Read the rest of the article at www.noodls.com
Data and Statistics for these countries : Australia | Singapore | Solomon Islands | All
Gold and Silver Prices for these countries : Australia | Singapore | Solomon Islands | All

Axiom Mining Limited

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CODE : AVQ.AX
ISIN : AU000000ASX7
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Contact Cpy

Axiom Mining is a silver and gold exploration company based in Australia.

Its main exploration properties are OK MINE, MT MOLLOY, CARDROSS, PINEVALE and WHITE HILLS in Australia and PU SAM CAP, QUANG BINH and QUANG TRI in Vietnam.

Axiom Mining is listed in Australia. Its market capitalisation is AU$ 8.7 millions as of today (US$ 6.7 millions, € 5.5 millions).

Its stock quote reached its highest recent level on April 12, 2011 at AU$ 1.26, and its lowest recent point on May 24, 2019 at AU$ 0.02.

Axiom Mining has 348 620 000 shares outstanding.

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Annual reports of Axiom Mining Limited
2007 Annual report
2006 Annual Report
Nominations of Axiom Mining Limited
6/4/2007appointment of Mr John Cook as a non-executive independent
Project news of Axiom Mining Limited
8/12/2016Pre-Feasibility Study for the Isabel Nickel Project
12/3/2015Isabel Nickel Project resource definition drilling update
11/4/2015Isabel Nickel Project resource definition drilling update
9/22/2015Isabel Nickel Project resource definition drilling update
9/14/2015Isabel Nickel Project resource definition drilling update
9/7/2015Isabel Nickel Project resource definition drilling update
8/31/2015Isabel Nickel Project resource definition drilling update
8/24/2015Isabel Nickel Project drilling defines thick mineralisation
8/6/2015Isabel Nickel Project resource drilling uncovers 3% Ni
7/13/2015Isabel orientation drilling program successfully completed
4/24/2015Isabel Nickel Project drilling update
4/10/2015Drilling indicates continuous high grade mineralis
9/26/2008(Nightflower)First Resource Estimate - Nightflower Project
Corporate news of Axiom Mining Limited
8/1/2016Change of Share Registry
7/31/2016Funding for development of the Isabel Nickel Project
7/29/2016Quarterly Activities Report
7/28/2016Trading Halt
7/26/2016Key executive management appointment
7/25/2016Axiom Mining Company Update
6/10/2016Half Year Financial Report 31 March 2016
6/1/2016Notice of Expiry of Options
5/12/2016Axiom Mining EGM 12 May 2016 - Results
5/9/2016Isabel Nickel Project update
5/1/2016Quarterly Activities Report
4/19/2016Axiom Mining Loyalty Bonus Issue
4/19/2016Notice to the Financial Markets Authority
4/7/2016Appendix 3B
4/5/2016Cleansing Statement
4/1/2016Notice of Expiry
4/1/2016Reinstatement to Official Quotation
4/1/2016Axiom moves forward litigation-free with new funding
3/31/2016Axiom Mining 2016 AGM Results
3/30/2016New strategic shareholder
3/23/2016Solomon Islands Court of Appeal Update
3/23/2016Suspension from Official Quotation
3/21/2016Trading Halt
2/2/2016Axiom Mining Company Update
1/18/2016Change of Australian registered office address
12/31/2015Notice of Expiry
12/29/2015Isabel Nickel Project defines first 5 years of production
12/22/2015Appendix 3B
12/21/2015Annual Financial Statements
12/21/2015Off-take agreement and funding with Gunvor
12/16/2015Notice of Expiry and Appendix 3B
12/4/2015Axiom Mining EGM 4 December 2015 - Results
12/4/2015Axiom Mining EGM 4 December 2015 - Chairman's Address
11/3/2015Major funding and partnership for Isabel Nickel Project
11/2/2015Quarterly Activities Report
10/21/2015Change of Director's Interest Notice
10/15/2015Axiom Mining EGM 15 October 2015 - Results
10/15/2015Axiom Mining EGM 15 October 2015 - Chairman's Address
9/30/2015Isabel Nickel Project Maiden Mineral Resource Estimate
9/28/2015Appendix 3B
9/14/2015Notice of Extraordinary General Meeting
9/7/2015Isabel Nickel Project JORC Resource statement imminent
8/21/2015Axiom Mining Key Appointment
8/11/2015Appendix 3B
8/4/2015Appendix 3B
7/31/2015Quarterly Activities Report
7/31/2015Trading Halt
7/31/2015West Guadalcanal Project technical review complete
7/29/2015Axiom Mining Key Management Appointments
7/28/2015$5 million to fund development of Isabel Nickel Project
7/24/2015Trading Halt Request
7/20/2015Appendix 3B
7/17/2015Axiom Mining Solomon Islands Litigation Proceedings Update
7/13/2015Appendix 3B
4/21/2015Response to Price Query
4/15/2015Completion of consolidation
4/14/2015Axiom Mining Solomon Islands Litigation Proceeding
4/2/2015Notice of Expiry
3/31/2015Axiom Mining 2015 AGM Results
3/30/2015Axiom Mining 2015 AGM Chairman's Address
3/9/2015Further high grade results on Isabel Nickel Projec
3/6/2015Notice of Annual General Meeting
2/16/2015Appendix 3B
2/16/2015Cleansing Statement
2/13/2015Anitua extends support for Axiom
2/12/2015Court of Appeal hearing date confirmed
1/23/2015Quarterly Activities Report
1/19/2015Sumitomo provides AU$5 million in bank guarantees
2/22/2008Western Plains - Large increase in Buzzard direct shipping i...
1/31/2008$1.3m exploration for the quarter - significant acqu isition...
11/1/2007 builds on successfuy September quarter exploration a ctivi...
8/16/2007Raises $4m in share placement to accelrate its progr ams in ...
7/31/2007Exciting Results continue from aggressive Exploration in Que...
6/26/2007New geophysical anomalies indicate prime drill targets at Ax...
4/4/2007new tenement grants in aggressive acquisition thru st in Nor...
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