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06/04/16
09:24
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Originally posted by accaeric
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AVQ started the acquisition of San Jorge tenement back in 2010, finally granted in 2015.
Also from the ASX announcement, the 60% of historical resource of 159Mt at over 1% nickel situat at Kolosori tenement. So I guess the remaining 40% of the 159Mt @1% nickel locate in San Jorge tenement.
Quotes from the ASX announcement,
"On Friday 15 October 2010 Axiom Mining signed an exclusive agreement with the customary owners of lands on which the world class San Jorge and Takata (Isabel Island) laterite nickel deposits are located. The tropical laterite deposits on San Jorge and Isabel Islands were extensively explored in the past by major international mining and engineering companies. They produced an historical resource of 159MT at over 1% nickel and 0.07% copper. Past exploration has shown the deposit possesses extremely attractive characteristics for commercial development."
25 March 2015:
"Axiom Mining Limited (‘Axiom’ or ‘the Company’) is pleased to announce the grant of a Prospecting Licence for the San Jorge tenement of the Isabel Nickel Project, Solomon Islands."
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From 25th March last year, if we spent our resources on SG and proved it up with the drill bit, one thing that our ceo would of said that would of been true is
"We will be shipping ore by the end of the year"
Regardless of isabel, shareholders dilution would be minimal because we would be in a cashflow positive position....