Axiom Mining (ASX:AVQ) is continuing with exploration at its...

Axiom Mining (ASX:AVQ) is continuing with exploration at its Isabel Nickel Project despite Sumitomo filing an appeal to the Solomon Islands High Court judgement in Axiom’s favour.

On 24 September 2014, the High Court dismissed all of Sumitomo’s claims and enabled Axiom to recommence exploration activities on Isabel.

Sumitomo has now filed a notice of appeal to the judgement in High Court case 258/11 between Sumitomo and others v Axiom, Solomon Islands Government and others.

Axiom chief executive officer Ryan Mount said this not deter Axiom from its current development activities on the project.

“We are confident as to the validity of our rights, and we will defend our position,” he said.

“We are confident of a successful outcome as our position was unequivocally validated by the High Court.

“The appeal will be handled in the background—while our project team gets on with the job of developing the Isabel nickel deposit.”

It is expected that the appeal will be heard early in 2015, and a hearing date for the appeal will be fixed in within the next four to eight weeks.


Isabel Nickel Project

The project is 80% owned by Axiom KB, where KB stands for Kolosori and Bungusule being the two original customary landowning tribes, who collectively own the remaining 20% interest.

The Kolosori tenement covers 49 square kilometres on Isabel Island and is covered by Axiom’s leasehold and prospecting licence.

It has historic and non-JORC resources estimated at 159 million tonnes at 1.045% nickel and 0.07% cobalt.

Low cost open pit mining can very quickly generate a direct shipping ore that significantly reduces both operating cash cost and capital cost for plant, power requirements and infrastructure.

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