AVQ 0.00% 2.5¢ axiom mining limited

best case scenario

  1. 3,527 Posts.
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    hi there,

    Lets not get too negative.The positives are evident.
    from announcement.

    Axiom Mining Limited (“Axiom”) remains confident of a positive outcome on behalf of shareholders
    and local landowners in the Solomon Islands High Court legal battle over the world-class Isabel
    Nickel Deposits with an eight week hearing to commence 14 October 2013.
    Sumitomo Metal Mining Solomon Ltd (“Sumitomo”) launched legal action against the Solomon
    Islands Government and local landowners in 2007 following the Government’s refusal to grant an
    extension of the preliminary Letter of Intent (“LOI”) for exploration activities on Isabel given lack of
    landowners’ support. This action failed.
    The Solomon Islands Government issued an International Tender for the Isabel Nickel Deposits, one
    of the Pacific’s largest, in 2010. Sumitomo then secured LOIs over the three main nickel mineralised
    area however, in 2011, the landowners successfully petitioned the Solomon Islands Government to
    cancel the LOI.
    Axiom was invited into the Solomons in 2010 by the two key local landowner groups, the Kolosori
    landowners on Santa Isabel Island and the Bungusule landowners on San Jorge Island. A groundbreaking joint venture, Axiom KB, was formed, based on the World Bank Community Company
    Model, with each tribe holding 10%. The structure ensures all members of both the Kolosori and the
    Bungusule tribes are beneficiaries.

    Each tribe holding 10%.Very important.

    Please re-read announcement in full.

    kind regards,
    fast41.

 
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Currently unlisted public company.

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