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Axiom committed to develop Kolosori and San Jorge deposit

AXIOM Mining Company Limited remains committed to developing Kolosori and San Jorge nickel deposits, says the company’s Chairman Mr Robert Barraket.

In his 2016-2017 report, Mr Barraket said Axiom is in a solid position of potentially having parallel development options for both the Kolosori and San Jorge deposits once the licences are issued.

He stressed that Axiom remains committed to these projects as its first priority.

“Having been the chairman of the Board of Axiom for now just over a year, I remain excited to be involved in overseeing the delivery of a world class nickel project in the South Pacific region.

“I remain strongly convinced that Axiom is uniquely positioned with its strong presence in the Solomon Islands, to be the only company with the ability to deliver such an outcome,” Mr Barraket said.

He said the potential for significant value creation for the shareholders of the Company remains, as does the opportunity to assist the Solomon Islands community and economy to achieve long-term financial self-sufficiency.

Mr Barraket stressed that the decision of the Solomon Islands Court of Appeal in March 2016 delivered the Company both success and further challenge as the Kolosori prospecting licence was withdrawn because of regulatory failure forcing Axiom to resubmit its application.

“Being a leader and delivering the first of any kind doesn’t come without challenges and we thank shareholders for their patience because we know there is no adverse findings were made against Axiom,” he added.

Mr Barraket said Axiom has shown great strength and resolve in standing alongside the Solomon Islands government and the landowning community in resolving the protracted litigation.

He said the team work has strengthened Axiom’s relationship with these key stakeholders.

Mr Barraket adds that the Company has developed strong ties with the landowners and has developed a well-regarded comprehensive community engagement programme.

“I strongly believe that Axiom remains uniquely positioned to manage the challenges, by focusing on the establishment of key stakeholder relationships and integrating into the Solomon Islands community at all levels.

“This is fundamental to facilitating progress through the various channels within the Solomon Islands government and community to achieve what should be joint aims, with the key priority to secure the necessary licences to open the path to development,” he said.

Mr Barraket said Axiom’s team led by the Managing Director, Mr Ryan Mount, has established themselves in the Solomon Islands to lead and push for development, with an organisation of predominantly indigenous staff that is highly regarded by the Solomon Islands people.

He said Axiom has been able to maintain operational focus proceeding with pre-development work on the San Jorge deposit whilst awaiting the approval following the reapplication for the Kolosori licences as Isabel Nickel Project comprising two similar sized deposits.

In the meantime Mr Barraket said groundwork at San Jorge has proceeded to a point where the application for the San Jorge mining lease was submitted in December 2016.

He acknowledged the shareholders for their patience and support as they both strive to deliver world class outcomes in the region.

Mr Barraket is an experienced legal adviser to mining and exploration companies.

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