AVQ 0.00% 2.5¢ axiom mining limited

'solomons dispute [axiom] mining licence"

  1. 62 Posts.
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    I was just deciding whether to buy in tomorrow morning, and got this news alert from ABC:

    Solomons dispute Australian mine licence

    The Solomon Islands government says a prospecting licence issued to a small Australian mining company last week by a minister who has since been sacked is not valid.

    Axiom Mining Limited issued a statement to the Australian Stock Exchange last week stating its joint venture company, along with some traditional Solomon Islands landowners, had been granted a prospecting licence over a potentially rich nickel and cobalt deposit.

    The company's shares are currently suspended from trading.

    But the ASX said trading in its shares would resume on Wednesday.

    However, a statement issued by the prime minister's office in Honiara disputes the validity of the licence, saying the circumstances surrounding its issue are highly suspicious.

    The government has launched an investigation, saying it wants to identify the true customary landowners.

    http://www.abc.net.au/news/stories/2011/04/26/3200748.htm?section=justin
 
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