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Axiom Mining Limited

Publié le 12 août 2016

Pre-Feasibility Study for the Isabel Nickel Project

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Mots clés associés :   Nickel | Philippines |

Pre-Feasibility Study for the Isabel Nickel Project

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

12 August 2016

ASX Announcement

Company Update - Pre-Feasibility Study highlights world class potential of the Isabel Nickel Project (San Jorge and Kolosori deposits)

Highlights

  • Economics:

    8%

    • After-Tax Net Present Value (NPV1

      ) of US $188M and an IRR of 95%, based on most recent Nickel market

      forecast.

    • Net Profit Margin2 of 35% over Life of Mine.

  • Low CAPEX: US $18.2M.

  • Low Operational FOB cost: US $11.49/WMT3 currently one of the most competitive in the region.

  • Production: an average of 2.2 WMT per annum.

  • Life of Mine:

    • 18 years.

    • First five years of mining schedule developed using mostly Measured and Indicated Resources.

  • Deposit:

    • The Isabel Nickel Project will be able to produce a consistent, saprolite product for which customers will pay a premium, unlike other supply sources such as the Philippines.

    • Significant opportunity to upgrade resource in both grade and tonnage through further drilling.

      Axiom CEO Mr Ryan Mount states "The pre-feasibility study has confirmed the economic viability and the world class potential of the Isabel Nickel Project. It also highlights the competitiveness of our operation and validates our previously published scoping details. We will continue to work with the Solomon Islands government to bring this project into production as quickly as possible."

      1 NPV: Net Present Value

      2 Net Profit Margin: Profit margin after income tax and royalties

      3 WMT: Wet Metric Tonnes

      Summary

      Axiom Mining Limited ('Axiom' or 'the Company' ) is pleased to announce the positive results from the Pre-Feasibility Study (PFS) conducted by IMC Mining Pty Ltd (IMC) on the world class nickel bearing deposits of the Isabel Nickel Project in the Solomon Islands. This study builds on the JORC Mineral Resource upgrade which was completed and announced on 29 December 2015 and establishes a detailed mine plan that defines the 18 years of mine life.

      This report presents the mine operations plan for nickel laterite mining on the Kolosori and San Jorge deposits, collectively known as the Isabel Nickel Project ('The Project'). The Kolosori deposit is currently not owned by Axiom, however the company has re-applied for the Prospecting Licence. The Company currently owns 80% of the San Jorge deposit, and it is anticipated it will own 80% of the Kolosori tenement, if successful with the application.

      The deposits are located 135 km north-west of the capital Honiara; San Jorge is adjacent to Santa Isabel, as shown in Figure 1.1.

      Figure 1.1 Geography of the Isabel Nickel Project

      Based on a Life of Mine (LOM) of up to 18 years, this PFS is focussed on the development and production of a mine production target of 1.5 Mtpa (wet) product in year one to full operating capacity of 2.2 Mtpa (wet) product by year three.

      The scheduling of mining operations has been carried out on the basis of developing the best balance between the optimisation of the resource and maximising the NPV of the project. This has been achieved by dividing the scheduled mine development into mining phases which include year's one to five (Phase 1) targeting saprolite material that would result in an average of 1.6% Ni (insitu).

      For years six to eighteen (Phases 2-4) the PFS incorporates the historical drilling by Inco, which in many cases did not define the full profile of the laterite.

      Financial Evaluation

      The PFS confirms the financial viability of The Project with an NPV of US $188M and a Net Profit Margin of 35% over the life of the project. IMC have estimated an operational FOB cost of US $11.49/WMT which is low in comparison to other worldwide nickel laterite DSO4 projects.

      Axiom is able to differentiate itself from other laterite nickel projects due to the following factors:

      • A large proportion of saprolite can be readily accessed;

      • Very low stripping ratio (almost no waste overlays);

      • Access to a readily available labour force;

      • Easy access to port and world shipping networks; and

      • Low initial pre-production capital outlay.

The combination of the above factors indicates that the Project's operations will be a low cost saprolite nickel producer able to provide a steady and reliable premium product to its customers.

Figure 1.2 Aerial view of the Isabel Nickel Project

4 DSO: Direct Shipping Ore

Basis for the Financial Evaluation

Table 1.1 provides the assumptions and calculations on which the financial evaluation is based upon.

Category

Measurement

Commencement Date

2016

Mining Rate (Years 1 to 5)

10.07 WMT

Life of Mine (LOM)

18 years

Average Stripping Ratio

(0.83:1)

Nickel Prices

2016 to 2035*

Total Pre-Capital Costs (Chart 1.2)

$18.2m

Total Operating costs - FOB (Chart 1.3)

$11.49

Mineral Royalty

3%

Discount Rate

8%

Tax Rate

35%

Net Present Value (NPV) (Base Case)

$188m

Internal Rate of Return (IRR)

95%

Net Margin (after tax and royalties)

35%

Payback on Capital Costs

PFS Accuracy

+ / - 25%

Table 1.1 Financial Assumptions

*based on Wood Mackenzie forecast

All dollars reported in this document are US $ unless otherwise stated.

Lire la suite de l'article sur www.publicnow.com
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

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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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