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Market: ASX:AVQ
52-week High/Low: A$0.29 / A$0.10
Sector: Mining
Market Cap: A$52.76M
Axiom Mining Ltd (ASX:AVQ)

Axiom Mining Ltd

Axiom Mining Ltd (ASX:AVQ) is an Australian mining and exploration company focused on tapping into the significant resource potential within the mineral-rich Pacific Rim.

Axiom Mining Ltd

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Axiom Mining Ltd Snapshot

Axiom Mining Limited is an Australian mining and exploration company focused on tapping into the significant resource potential within the mineral-rich Pacific Rim.

We now have a strong footprint in the Asia Pacific region, having built an enviable portfolio of diversified exploration tenements in the Solomon Islands and Australia over the last couple of years – this includes the world-class Isabel nickel deposit.

Our success in doing this has been largely underpinned by our dedication to forging strong bonds and relationships with the local communities and governments where we operate. This bottom-up business approach produces results, differentiates us from industry peers and has seen us come up trumps against mining industry majors.

Through our diversified asset portfolio, our Board and management team are intently focused on delivering results that exceed expectations, outperform industry norms and maximise shareholder value. We believe that Axiom Mining has the building blocks to become a significant long-term and profitable mineral producer in the Asia Pacific region.

Solomon Islands - Isabel Nickel Project

The Isabel Nickel Project is considered to be one of the largest nickel laterite deposits in the Pacific. The project has previously been extensively explored and developed by mining and engineering industry leaders, including International Nickel Company Limited (INCO) and Kaiser Engineering (Kaiser), but has never proceeded to mine development. By partnering with local landowners, Axiom was able to achieve a Prospecting Licence and registered lease over the Kolosori tenement in 2010.

After success in the Solomon Islands High Court in September 2014, Axiom resumed exploration activities. Within 12 months, Axiom delivered the project's Maiden JORC Mineral Resource estimate from its Kolosori tenement, which revealed a total Measured, Indicated and Inferred Mineral Resource of 4.8 million tonnes (Mt) @ 1.3% nickel and 0.08% cobalt, including saprolite total Mineral Resource of 2.0 Mt @ 1.7% Ni, including 0.9 Mt @ 1.8% Ni of Measured Mineral Resource.

In early 2015, Axiom achieved the second Prospecting Licence for the project's south San Jorge tenement.

The JORC Mineral Resource estimate for the Kolosori tenement was upgraded in December 2015, with the high grade saprolite total Mineral Resource tonnage doubled to 3.9 million dry tonnes (Mt) @ 1.7% Ni and limonite total Mineral Resource tonnage increased to 8.4 Mt @ 1.0% Ni and 0.11% Co.

In March 2016, the Solomon Islands Court of Appeal delivered judgment and held that the Kolosori tenement where the Isabel nickel deposit is located remains customary land. As a result, Axiom’s lease and Prospecting Licence were set aside. Axiom Mining’s partnership with landowners remains strong, and Axiom is in the process of re-applying for a Prospecting Licence.

Axiom had planned to take a phased approach to mine development. The initial focus was to be on establishing a 2 mtpa direct shipping of ore operation on Santa Isabel Island for a relatively low capital expenditure. The cashflow generated from the early stages would provide Axiom with the capital needed to consider the next phase of development to add value through on-site processing.

Solomon Islands - West Guadalcanal Project

The West Guadalcanal Project comprises an area of about 485 km² located in the west of Guadalcanal Island.

Axiom relinquished both Arosi and Itina gold projects in early 2014 in favour of the West Guadalcanal Project having higher prospectivity. The tenement is adjacent to known Au-Ag deposits, including the Gold Ridge Mine and boasts potential for epithermal Au and porphyry Cu-Au style deposits.

The exploration targets of Taho, Polo and Mt Tanjili lie within a 10 km long carbonate basemetal gold epithermal corridor.

Axiom gained a Prospecting Licence for the project in January 2014, and undertook exploration till early 2015.  A total of 2050 m was drilled, with 12 holes completed.

With momentum accelerating on the Isabel Nickel Project towards mine development by the end of 2015, Axiom undertook a strategic review of all operations, including the West Guadalcanal Project.

The technical review was carried out over four regions that covered Axiom’s key prospect areas— Taho, Polo and Mount Tanjilli. All targets were ranked by evaluating the geology, geochemistry, geophysics data as well as access to the prospect areas and identification of relevant landowner groups.

Future work programs will utilise this ranking and target those areas most likely to deliver an economic deposit.

(click here for more projects)

Last updated 27th June 2016.

Mr Robert Barraket
Non-Executive Chairman

Mr Robert Barraket was appointed Chairman of Axiom Mining in February 2016. Mr Barraket has almost 50 years’ experience in legal practice including the establishment of two successful legal firms. He has been the legal advisor to numerous international and Australian mining and mineral exploration companies with interests in Australia and abroad.

Mr Barraket is currently the Chairman and Partner of Barraket Stanton Lawyers in Sydney.

Mr Ryan Mount
Chief Executive Officer and Managing Director

Mr Ryan Mount joined the Axiom Mining Board as a Director in April 2009. Following his appointment, he led the crucial restructure of the company – an exercise that saw Axiom gain full control of the company’s assets, define a clear strategic direction appoint a new Board and management team and a listing on the ASX by December 2009.

In mid-2010, Mr Mount accepted the Board’s offer of the CEO position. Since his appointment, he has been relentless in driving and refining Axiom’s operations, and as a result, key components of the business plan have been achieved.

He has an extensive background in Australian and international financial markets, as well as corporate advisory. Mr Mount is also a member of the Australian Institute of Company Directors.

Mr Jeremy Gray
Non-Executive Director

Mr Jeremy Gray’s career in mining investment include appointments as the Global Head of Basic Materials at Standard Chartered Bank Plc, Head of Metals and Mining Research at Morgan Stanley in London and the Head of Mining Research at Credit Suisse in London.

Mr Gray is currently a Director and a Managing Partner of Chancery Asset Management, and holds an Honours degree in Finance from Melbourne University.

Mr Paul Frederiks
Company Secretary

Mr Paul Frederiks has more than 30 years’ experience as a finance and corporate governance executive in the Australian resources sector, with an extensive knowledge base in listed public company reporting and compliance.

He previously held Company Secretary positions for Auzex Resources Limited, Billabong International Limited and China Steel Australia Limited and was also previously the Company Secretary and Chief Financial Officer at Geodynamics Limited and Ross Mining N.L.

Mr Frederiks holds a Bachelor of Business from QUT, and is also a Fellow of CPA Australia, the Governance Institute of Australia and the Australian Institute of Company Directors.

Prof David Dreisinger Ph.D
Technical Advisor

Prof David Dreisinger is a world leader in development and implementation of hydrometallurgical recovery of base, precious and rare metals. His roots in nickel start with INCO Limited. He was an INCO Scholar and was employed at INCO’s Frood-Stobie Mine and Copper Cliff Smelter.

Prof Dreisinger is an inventor of the Starved Acid Leaching Technology (SALT) and the PLATSOL Process. SALT recovers nickel from saprolite ores and PLATSOL is used to treat Ni-Cu-Co-PGE sulfide concentrates. SALT is being commercialised by InCoR Technologies. PLATSOL was developed to treat the NorthMet deposit of PolyMet Mining (Minnesota, USA) and is awaiting final permits. Prof Dreisinger consults widely to the industry including on nickel, gold and rare-earth projects in Australia, Cuba, Indonesia, Finland, US, Africa and South America. Prof Dreisinger is the inventor of the Mt. Gordon Copper process and the Sepon Copper-GoldProcess. Aberfoyle/Western Metals operated the Mt. Gordon process in Australia at a rate of 50,000 tpa of Cu. The Sepon process was constructed by Oxiana Limited (now MMG Resources) and is currently producing at 90,000 tpa of Cu.

Prof Dreisinger holds the position of Professor and Industrial Research Chair in Hydrometallurgy at the University of British Columbia. He has published over 250 papers and 19 granted US patents.

Last updated 27th June 2016.

Registered Office in Australia
Level 6, 15 Astor Terrace
Spring Hill QLD 4000

Phone: +61 7 3319 4100
Fax: +61 7 3839 4386

Registered Office in Hong Kong
C/-Boase Cohen & Collins Solicitors
2303-7 Dominion Centre
43-59 Queens Road
Hong Kong

Investor relations and general enquiries: Phone: + 61 7 3319 4100
Shareholding and registry service enquiries: Phone: 1300 737 760 (within Aust) or + 61 2 9290 9600 (outside Aust)
Email: [email protected]

Hall Chadwick
Level 40, 2 Park Road
Sydney NSW 2000

Share Registry

Boardroom Pty Limited
Level 12, 225 George Street
Sydney NSW 2000

+61 2 9290 9600
Fax: +61 2 9279 0664
Email: [email protected]

ASX Code:

Axiom Mining Ltd Timeline

February 26 2017

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