Solomon Islands Litigation Proceedings Update
Perth, July 17, 2015 AEST (ABN Newswire) - Axiom Mining Limited (
ASX:AVQ) wishes to advise that Axiom KB Limited* ('Axiom') was invited by the Solomon Islands Government to present a Mining Lease Application (MLA) for the Isabel Nickel Project, to be determined at the Mines and Minerals Board meeting on 16 July 2015.
SMM Solomon Limited ('Sumitomo') raised an objection, on the basis that the grant of a Mining Lease would be subject to outcomes of the Court of Appeal hearing in relation to the project.
Axiom and the Solomon Islands Government, Axiom's co-defendants in the civil case that is the subject of the appeal, consented to withdraw Axiom's MLA and postpone the application presentation until after the Court of Appeal judgment is delivered.
A consent order of the court, to that effect, was agreed amongst the parties involved in the Court of Appeal hearing.
The Isabel Nickel Project team continues to make good progress on the accelerated resource definition drilling program.
This week, Axiom commissioned an upgrade to increase the capacity of the camp and related infrastructure on the Kolosori tenement on Santa Isabel Island.
Earlier this year, Axiom was granted another Prospecting Licence over the Isabel nickel deposits on San Jorge Island by the Solomon Islands Government.
Preparation for exploration activities on the San Jorge tenement are nearly complete with Axiom due to start work shortly.
*Axiom KB Limited is an joint venture company, 80% owned by Axiom Mining Limited.
About Axiom Mining Limited
Axiom Mining Limited (ASX:AVQ) focuses on tapping into the resource potential within the ore-rich Pacific Rim. Through dedication to forging strong bonds and relationships with the local communities and governments where we operate, Axiom Mining has built a diversified portfolio of exploration tenements in the Asia-Pacific region. This includes a majority interest in part of the Isabel Nickel Project in the Solomon Islands and highly prospective gold, silver and copper tenements in Solomon Islands and North Queensland, Australia. Axiom Mining is listed on the ASX.
For more information on Axiom Mining, please visit www.axiom-mining.com
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