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Axiom Mining Limited

Publié le 25 juillet 2016

Axiom Mining Company Update

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Mots clés associés :   Copper | Mines | Nickel | Philippines |

Axiom Mining Company Update

dd78ad4f-a9d9-4714-ab24-fd853f5a39d9.pdf

Axiom Mining Limited

ARBN 119 698 770

Level 6, 15 Astor Terrace Spring Hill QLD 4000

Australia

T + 61 7 3319 4100

[email protected] www.axiom-mining.com

ASX Announcement

25 July 2016

Company Update - expansion and development of the world class Isabel Nickel Project

Highlights

  • A Pre-feasibility study on the Isabel Nickel Project (both San Jorge and Kolosori deposits) is nearing completion

  • Planning of a cost-effective development of the San Jorge tenement is well advanced in anticipation of the imminent commencement of operations to develop the company's asset of medium to high grade tropical nickel laterite ore

    • Axiom is progressing with its discussions and negotiations with its strategic partners, and

    • Recruitment of key personnel has commenced

  • The application for the Kolosori tenement is before the government. Axiom remains confident of its position as the preferred developer of sustainable mineral development in the Solomon Islands and anticipates a formal response from government shortly

  • Recent developments in the international nickel laterite market continue to bode well for Axiom and reinforce the value of the Isabel Nickel Project.

Chief Executive Officer Mr Ryan Mount sees Axiom capitalising on the current market situation:

"The DSO nickel laterite ore market is undergoing unprecedented change. Indonesia, the Philippines and New Caledonia, holding 80% of the world's nickel laterite reserves for DSO, are refusing to export any significant nickel ore to China.

"In what is becoming one of the most constrained nickel laterite markets in history, Axiom is in the incredible position of being potentially one of the only few viable DSO opportunities for the world's largest nickel ore consumer, China."

Development and mining studies

The Company has continued to conduct studies in consultation with leading industry experts as to the economics and development of mining for nickel ore located within the Isabel Province, collectively known as the "Isabel Nickel Project".

A Pre-feasibility study is nearing completion. This study is expected to validate the potential of the Isabel Nickel Project.

Continues on page 2

ASX Announcement

25 July 2016

Page 2

San Jorge tenement

The Company has been in discussions with the government and its strategic partners as to planning and commencement of cost effective operations on Axiom's San Jorge tenement.

The San Jorge tenement has previously been subject to many years of exploration by industry leader INCO (Vale) including thousands of drill holes and pits in the 1960's and 70's. The geology is very similar to the Kolosori deposit, with historical drilling and feasibility studies indicating the ore body is likely to have similar characteristics especially as to grade and tonnage.

Axiom will be able to mobilise already in-country plant and equipment, as well as benefit from established supply chains and logistics channels. The Company also has access to trained and experienced operational personnel for this exploration and development campaign.

Kolosori tenement

The Company submitted its application for the Kolosori tenement in March 2016. The Solomon Islands Government has indicated it wants to ensure an efficient and proper process be conducted in the re-issuing of the mineral rights over Kolosori.

An Environmental Management Plan has also been completed and submitted to the government.

Nickel ore market

Recent developments in the nickel laterite ore market have resulted in a number of favourable opportunities currently being considered by the Company.

The Philippines Government introduced greater environmental protocols, which has resulted in diminishing ore exports out of the Philippines. Furthermore, the Philippines Government has suspended operations at a number of nickel mines and stopped issuing relevant licenses and permits.

In 2014, the Indonesian Government banned the export of unprocessed ore including nickel laterite ore. Previously, Indonesia supplied approximately 70-80% of China's demand for nickel laterite ore. New Caledonia, which has some of the largest known nickel reserves in the world, now has a policy of not allowing the shipment of its nickel ore into China.

Strategic partners

Axiom continues its ongoing relationship and support from its strategic partners

Axiom's off-take agreement with Gunvor remains in place as the does the opportunity for Axiom to seek up to $15m of debt financing if Axiom was to extend its off-take agreement out to four years of production*. The Company will continue to work closely with Gunvor to maximise the value of Axiom's ore, especially in the current market where the nickel ore supply is in high demand.

*Refer to ASX Announcement 22 December 2015

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 result s are based on the Company's current beliefs and assumptions regarding a large number of factors affecting its business. 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.

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Données et statistiques pour les pays mentionnés : Philippines | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Philippines | Tous

Axiom Mining Limited

EXPLORATEUR
CODE : AVQ.AX
ISIN : AU000000ASX7
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Axiom Mining est une société d’exploration minière d'argent et d'or basée en Australie.

Ses principaux projets en exploration sont OK MINE, MT MOLLOY, CARDROSS, PINEVALE et WHITE HILLS en Australie et PU SAM CAP, QUANG BINH et QUANG TRI au Viet Nam.

Axiom Mining est cotée en Australie. Sa capitalisation boursière aujourd'hui est 8,7 millions AU$ (6,7 millions US$, 5,5 millions €).

La valeur de son action a atteint son plus haut niveau récent le 12 avril 2011 à 1,26 AU$, et son plus bas niveau récent le 24 mai 2019 à 0,02 AU$.

Axiom Mining possède 348 620 000 actions en circulation.

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Rapports annuels de Axiom Mining Limited
2007 Annual report
2006 Annual Report
Nominations de Axiom Mining Limited
04/06/2007appointment of Mr John Cook as a non-executive independent
Projets de Axiom Mining Limited
12/08/2016Pre-Feasibility Study for the Isabel Nickel Project
03/12/2015Isabel Nickel Project resource definition drilling update
04/11/2015Isabel Nickel Project resource definition drilling update
22/09/2015Isabel Nickel Project resource definition drilling update
14/09/2015Isabel Nickel Project resource definition drilling update
07/09/2015Isabel Nickel Project resource definition drilling update
31/08/2015Isabel Nickel Project resource definition drilling update
24/08/2015Isabel Nickel Project drilling defines thick mineralisation
06/08/2015Isabel Nickel Project resource drilling uncovers 3% Ni
13/07/2015Isabel orientation drilling program successfully completed
24/04/2015Isabel Nickel Project drilling update
10/04/2015Drilling indicates continuous high grade mineralis
26/09/2008(Nightflower)First Resource Estimate - Nightflower Project
Communiqués de Presse de Axiom Mining Limited
01/08/2016Change of Share Registry
31/07/2016Funding for development of the Isabel Nickel Project
29/07/2016Quarterly Activities Report
28/07/2016Trading Halt
26/07/2016Key executive management appointment
25/07/2016Axiom Mining Company Update
10/06/2016Half Year Financial Report 31 March 2016
01/06/2016Notice of Expiry of Options
12/05/2016Axiom Mining EGM 12 May 2016 - Results
09/05/2016Isabel Nickel Project update
01/05/2016Quarterly Activities Report
19/04/2016Axiom Mining Loyalty Bonus Issue
19/04/2016Notice to the Financial Markets Authority
07/04/2016Appendix 3B
05/04/2016Cleansing Statement
01/04/2016Notice of Expiry
01/04/2016Reinstatement to Official Quotation
01/04/2016Axiom moves forward litigation-free with new funding
31/03/2016Axiom Mining 2016 AGM Results
30/03/2016New strategic shareholder
23/03/2016Solomon Islands Court of Appeal Update
23/03/2016Suspension from Official Quotation
21/03/2016Trading Halt
02/02/2016Axiom Mining Company Update
18/01/2016Change of Australian registered office address
31/12/2015Notice of Expiry
29/12/2015Isabel Nickel Project defines first 5 years of production
22/12/2015Appendix 3B
21/12/2015Annual Financial Statements
21/12/2015Off-take agreement and funding with Gunvor
16/12/2015Notice of Expiry and Appendix 3B
04/12/2015Axiom Mining EGM 4 December 2015 - Results
04/12/2015Axiom Mining EGM 4 December 2015 - Chairman's Address
03/11/2015Major funding and partnership for Isabel Nickel Project
02/11/2015Quarterly Activities Report
21/10/2015Change of Director's Interest Notice
15/10/2015Axiom Mining EGM 15 October 2015 - Results
15/10/2015Axiom Mining EGM 15 October 2015 - Chairman's Address
30/09/2015Isabel Nickel Project Maiden Mineral Resource Estimate
28/09/2015Appendix 3B
14/09/2015Notice of Extraordinary General Meeting
07/09/2015Isabel Nickel Project JORC Resource statement imminent
21/08/2015Axiom Mining Key Appointment
11/08/2015Appendix 3B
04/08/2015Appendix 3B
31/07/2015Quarterly Activities Report
31/07/2015Trading Halt
31/07/2015West Guadalcanal Project technical review complete
29/07/2015Axiom Mining Key Management Appointments
28/07/2015$5 million to fund development of Isabel Nickel Project
24/07/2015Trading Halt Request
20/07/2015Appendix 3B
17/07/2015Axiom Mining Solomon Islands Litigation Proceedings Update
13/07/2015Appendix 3B
21/04/2015Response to Price Query
15/04/2015Completion of consolidation
14/04/2015Axiom Mining Solomon Islands Litigation Proceeding
02/04/2015Notice of Expiry
31/03/2015Axiom Mining 2015 AGM Results
30/03/2015Axiom Mining 2015 AGM Chairman's Address
09/03/2015Further high grade results on Isabel Nickel Projec
06/03/2015Notice of Annual General Meeting
16/02/2015Appendix 3B
16/02/2015Cleansing Statement
13/02/2015Anitua extends support for Axiom
12/02/2015Court of Appeal hearing date confirmed
23/01/2015Quarterly Activities Report
19/01/2015Sumitomo provides AU$5 million in bank guarantees
22/02/2008Western Plains - Large increase in Buzzard direct shipping i...
31/01/2008$1.3m exploration for the quarter - significant acqu isition...
01/11/2007 builds on successfuy September quarter exploration a ctivi...
16/08/2007Raises $4m in share placement to accelrate its progr ams in ...
31/07/2007Exciting Results continue from aggressive Exploration in Que...
26/06/2007New geophysical anomalies indicate prime drill targets at Ax...
04/04/2007new tenement grants in aggressive acquisition thru st in Nor...
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