Ann: Mining Lease Granted for Isabel Nickel Project - San Jorge, page-128

"Axiom to cash-in on the reduced mining activity in the Philippines " refers to the clamp-down by the President of Philippines on nickel laterite mining by foreign companies. You're right AVQ is not in Philippines. Govt of Indonesia has also restricted nickel laterite mining. This puts AVQ in great position, because, previously 80% of global laterite nickel production & all of Asia's supply was delivered by Indonesia, Philippines & New Caledonia. This looks good for AVQ. GLAH