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Axiom Mining Limited

Publié le 01 avril 2016

Axiom moves forward litigation-free with new funding

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Mots clés associés :   Copper | Nickel |

Axiom moves forward litigation-free with new funding

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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

Axiom moves forward litigation-free with new funding

Highlights

  • Operations commenced on San Jorge tenement, part of the world class Isabel Nickel Project

  • Re-application of the project's Kolosori tenement underway

  • Strategic partners confirm commitment to long term development of Isabel Nickel Project:

    • Gunvor confirms off-take and ore prepayment agreement in place

    • InCoR Holdings Plc has converted $5 million of its Convertible Note to equity

    • Anitua collaborating with Axiom on development of San Jorge tenement

  • Funding of $5 million through private placement to progress Isabel Nickel Project.

1 April 2016


Kolosori tenement post-Court ruling

Axiom Mining Limited ('Axiom' or 'the Company') is currently in discussions with key stakeholders in Solomon Islands to re-apply for the Prospecting Licence (PL) for the Kolosori tenement, following the recent Court of Appeal judgment.

Axiom Chief Executive Officer Mr Ryan Mount confirmed that Axiom's landowner partners have committed to continue their partnership with Axiom.

"I'm pleased that they have decided to continue to stand with us-they know that Axiom lives by our values of Build, Share, Protect, which are based on principles of inclusion and respect," said Mr Mount.

"Axiom will continue to honour our commitment to the landowners via our joint venture company Axiom KB."

The Company is also in discussions with the Solomon Islands Government, and is awaiting advice on the timing and procedures of the re-application process.

Mr Mount said Axiom was optimistic about regaining the PL and had plans to continue investing in the mineral-rich Solomon Islands.

"We have every reason to believe the Government will consider our application favourably, as Axiom's achievements on Isabel to date speak for themselves."

Axiom has been able to maintain strong landowner and community relations, develop the necessary remote site infrastructure and logistics, employ almost 150 locals and deliver a maiden JORC resource that defined the first five years of production-all whilst being involved in complex litigation and during a global downturn in the resources industry.


Continues on page 2



Progress on San Jorge tenement

Following the recent Solomon Islands Court of Appeal judgment, which considered the Kolosori tenement, Axiom will also focus its operations on the San Jorge tenement.

The San Jorge tenement is part of the world class Isabel Nickel Project and its Prospecting Licence was granted in March 2015 with approval from the Solomon Islands Government and the customary landowners.

San Jorge's close proximity to the Kolosori tenement enables Axiom to rapidly re-deploy most existing project infrastructure and resources to progress work on San Jorge.

Axiom is currently undertaking preliminary exploration activities on the tenement including community consultation and environmental studies.

Axiom is confident that San Jorge offers a parallel opportunity to the excellent drilling results and resource estimates for the Kolosori tenement.*

Approximately half the historical drilling undertaken by INCO in the 1960s took place on the San Jorge tenement.

The available INCO pit and drilling data is broadly spaced at 100 to 200m, and will be used to guide the exploration and identify key target areas-Axiom expects that tighter infill drilling will help to define saprolite with deeper drilling than that completed by INCO.

*Previously announced to the ASX on 30 September 2015 and 29 December 2015


Under re-application


Held by Axiom



Isabel Nickel Project aerial view


Continues on page 3



Strategic partners' continued commitment

Following the Court of Appeal decision, Gunvor Singapore Pte Ltd ('Gunvor') has confirmed its commitment to its off-take and pre-payment agreement with Axiom, as previously announced to the ASX on 22 December 2015.

InCoR Holdings Plc converted $5 million of its Convertible Note to equity, which allows Axiom to retain flexibility over future project financing, as announced to the ASX on 31 March 2016.

South Pacific mining services leader and major shareholder Anitua Ltd will continue collaboration with Axiom on the development of the San Jorge tenement.


Funding in place to progress Isabel Nickel Project

Axiom also announces that it has raised $5 million net of fees via a private placement of ordinary shares (and attaching options), which provides the Company with a significant new source of funding to undertake the next phase of the development of the Isabel Nickel Project.

The placement raised $5 million at a price of $0.18 per share from institutional, sophisticated and professional investors, and included the introduction of a new substantial shareholder and a $300,000 commitment from two of Axiom's directors.

Each share issued in the placement will have four for one attaching options, allocated equally at the exercise prices of

$0.30, $0.40, $0.50 and $0.60, all with a 10 year expiry.

Directors' participation and the issue of the majority of the attaching options are subject to shareholder approval.


This announcement ends the voluntary suspension of Axiom's securities on the ASX.



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 interests in the Isabel Nickel Project in the Solomon Islands and highly prospective gold, silver and copper tenements in North Queensl and, 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.

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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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