Australia's largest stock trading and investment forum Australia's #1 stock forum

AVQ

0.00%

2.5¢ axiom mining limited

Australian Business Review... more media coverage..., page-2

First 2 Last

Share
Profile

Follow
Barry81

3,186 Posts.

536

03/08/16

09:03

Post #: 18431284
Share

Originally posted by nbards ↑

Nothing we don't already know but more mainstream coverage can't hurt prospects...

http://www.theaustralian.com.au/bus...s/news-story/6bd7386da4264fac0a7051ef0c17cabe

Axiom Mining (AVQ) 26.5c
The Solomon Islands nickel developer has staged a remarkable recovery after it fell to the curse of dispossession afflicting so many local resource plays operating in developing countries. Axiom was dealt an unexpected blow when the island nation’s Court of Appeal failed to uphold its tenure over the Kolosori tenement, one half of the Isabel wet laterite nickel project.
But the court also didn’t endorse the challenger, Japan’s Sumitomo, and Axiom has been invited to reapply.
Axiom chief Ryan Mount, who lives in Honiara and is married to a local gal, is convinced Axiom has enough local goodwill to be awarded the turf. Mount expects to hear from the authorities “shortly” but it’s wise to assume that, as with the prolonged court battle, the process will take time.
Luckily, Axiom has a plan B and decided to go ahead with the San Jorge portion of Isabel, which is roughly the same size and scope of Kolosori.
The simple mine plan involves scraping up the shallow ore and shipping it to regional Asian buyers, probably the Chinese who are only about 15 per cent self-sufficient in the stainless steelmaking ingredient.
The backdrop is a recovering nickel price and tightening supply of the tropical wet laterite material, the input of choice for most regional smelters.
The Philippines, the biggest supplier, has joined Indonesia in curtailing output while New Caledonia has a long-term ban on supplying to the Chinese. “Things are hotting up,’’ Mount says.
The acid test is that Axiom this week finalised a $5m institutional placement, increased from the original $3m. Spec buy maintained.
The Australian accepts no responsibility for stock recommendations. Readers should contact a licensed financial adviser. The author does not hold shares in the stocks mentioned.

Expand

lots of people have being talking pump and dump and that the whole thing is sunk as incor want out. However I have a different take on this.

1 note holder converts $750k note to equity @ 18c. They would no longer receive interest
2 incor sells enough shares to go just below large holder notice.
3 rm takes up shares@ 18c and 28c
4 over subscribed placement for $5m at 28c which is a lot higher so than the 3 month average.

All these things would suggest that news, in my opinion around the kolosori tenements, isn't far away.

We await.

AVQ Price at posting: 26.5¢ Sentiment: Hold Disclosure: Held
17 Upvote

0 Great analysis

Reply

Top Stories

OPL

Opyl forms JV with UK and US consortium to bring products to the world

Drilling at Lady Ilse suggests gold-copper porphyry, grows footprint for Magmatic

PLS

Lithium production up 26%, revenue jumps 58% in June quarter for Pilbara

M4M

Macro Metals picks up 80% in Firebird's manganese plays; mining services operations to launch if decision to mine passed

AAI

NYSE-listed Alcoa Corp joins ASX through key JV acquisition