Ann: Isabel Nickel Project resource drilling uncovers 3% Ni, page-28

Hi Jazz,
In relation to your question 1. The only issuing of 2.6m @ 37cts. You raise a good point. Please read the following;

Axiom Mining Limited (‘Axiom’ or ‘the Company’) is pleased to advise $5 million has been raised through a private placement (‘Placement’) of shares to fund the ongoing development of Isabel Nickel Project in Solomon Islands. The Placement raised $5 million at a price of $0.37 per ordinary share from institutional, sophisticated and professional investors. Discussions with industry participants interested in providing structured finance are ongoing, and the Company hopes to be in a position to make an announcement soon.

So; not only has Ryan raised $5ml in a private placing but has also future interests in providing finance. Take a chill pile for another month or so until management can provide private SI registered business or nominee's in due time. Not an issue in my book Jazz. This process can take some time.

In relation to question 2/ Project economics or not.
Under a general Nickel pricing structure from past recorded spot DSO, blind Freddy can see the projected gross cash flow to Ni % DSO ratio equates to a multi $bn company maker. Natural prices have tumbles for all base metals where many copper mines are closing or in maintenance mode. At these current Nickel levels anything under 1.2% Ni DSO would not be viable, understand. Management are aware of this and noted 1.2% cut-off in there JORC results.
Some posters set out fear of crumbling Ni prices. Yep, ok if prices do crumble stop production..........easy. Take a leaf out of the copper mines. Leave the commodity in the ground. How long before thing turn around again (cycling), mines open and on sell their product for the right price. Is China the only interest Ryan has ?????. Will these "other interests" incur the same shipping costs ???. We still have a 6-9 month buffer before we begin production anyway so why the fear ATM.

Lastly; you mention options, where management had Guaranteed the conversion of $8ml in there forward costing.

"Axiom also has potential funding that can be achieved on the conversion of $9.4 million"

I'm certain the above paragraph say's "POTENTIAL". You seam to imply management are deceiving investors.

On another note;
Nice to see Nickel hold its spot price in the last couple of days where all base metals showed weakness.
cheers
M