Axiom seems to have a sudden interest in volume after a three week trading halt (77m)
Any clues as to why this sudden interest?
I thought i saw awhile back one of the directors buying up on AVQ. Is there a site where one can view directors buying or selling shares in their company?
This website will show you the last 5 transactions.
http://www.investogain.com.au/company/axiom-mining-limited
Last for AVQ was,
31/07/2012 Ryan Mount On market 32,417,578 @ $0.006 cost $200,750
Why the sudden interest in volume anyone?
No speeding ticket yet but something going on with this small speckie.
Maybe the latest JV with Solomons copper could have something do do with it. Just watching
There are still assay results pending from Cardross may have something to do with it.
So many delicious fruits dangling within reach ...
but which one to try first?
So many delicious fruits dangling within reach ...
but which one to try first?
Hmmm This little cherry is looking ripe for the picking looking at the charts. I went with EMS instead of AVQ in the stock picking comp. Oh well at least Crom will be pleased with his selection for the comp.
Any members still holding AVQ? Currently Up 35% today. I'm no chartists but buyers are lining up and so is the the volume. Announcement due out soon or a speeding ticket....which one will come first?
Well they got that speeding ticket.
Happy to have come on board @ .014. Sold half yesterday @ .019
Charts looked good with volume and buyers building up over the past few months. One director picking up 32mil @ .007 awhile back makes it a bit more interesting.
Stalemate for now @ .018.
Axiom Mining Limited (“Axiom” or “the Company”) announces it has raised $1.5 million through the
combination of a Private Placement (“the Placement”) and the issue a Convertible Note (“the Note”)
and if required, the Company also has further funding available to it under the Share Purchase and
Convertible Note Agreement (“Agreement”). The funding is required for the completion of the trial
in the Solomon Islands High Court over the Isabel nickel deposits (“the Trial”).
The Trial recommenced last week after an adjournment during the court’s Christmas vacation.
The Placement has raised $650,000 at a price of $0.014 per share with a one for one attaching
option.
The Agreement provides for the issue of the Note which has a lock-up period from today until one
month after a final judgement is delivered in the Trial. During the lock-up period:
- There is no interest payable or accrued on the funds of the Note;
- The Note cannot be converted to shares; and
- The Company can elect to pay out the Note;
It is only after the expiration of the lock-up period of the Note that the holder can implement the
conversion price mechanism which is a 10% discount to the average of the five consecutive daily
Volume Weighted Average Price’s (VWAP), chosen by the Note holder, during the previous month.
The Agreement also provides for an advance of $200,000 per month in exchange for the issue of
shares at a 7.25% discount to the average of the five consecutive daily VWAPs during a specified
period prior to the issuance. The Company can terminate this facility at any time and has the right to
reduce any particular advance to $100,000 at its sole discretion.
LITIGATION UPDATE ON 2
ND
JUNE, 2014
Evidence in the Trial
Evidence in the trial for Civil Claim Number of 258 of 2011 commenced on 14 October
2013 and completed on 19 May 2014 after the evidence for the Claimants (SMM
Solomon and others), the Cross-Claimants (Bugotu Minerals Limited), and the First to
Fourth and Eighth Defendants (The Attorney-General and others). Neither the Sixth
Defendant (Axiom KB Ltd), the Seventh Defendants (Land defendants) nor the Ninth
Defendant called any witnesses or significant evidence.
Oral submissions are scheduled to commence on 23 June 2014.SMM Solomon is
quietly confident about its prospects.
SMM Solomon Limited, the Land Claimants and the Government Reach Agreement On
Certain Parts of the Current Nickel Mining Litigation.
Each of SMM Solomon Limited, the 2nd, 3rd, 4th, 5th and 7th Land Claimants and the
Government of Solomon Islands have together given their formal consent to orders
being made by the High Court in Civil Case 258 of 2011, which commenced in 2011 in
relation to the international nickel tender (the “International Tender’) for the Takata, San
Jorge and Jejevo tender areas in Isabel (“the Tender Areas”). The consent of those
parties to those orders was formally signed by the legal representatives for the
Claimants and for the Attorney General, representing, in addition to himself, the Minerals
Board (“the Board”) and the Minister for Mines Energy and Rural Electrification (“the
Minister of Mines”). The principal effect of this formal consent, delivered to the court on
29th May,2014today, is that:
1. The Government formally agrees that the Award of the International Tender to
SMM Solomon Ltd in 2010 was valid.
2. The Government formally agrees that SMM Solomon Limited’s Letter of Intent,
dated 23 November 2010, in respect of the Tender Areas, was valid.
3. The Government formally agrees that the decision of the Minister of Mines, dated
17 January 2011, to cancel that Letter of Intent (“LOI”) and the Award and the
subsequent decision of the Board in April 2011 to give effect to that cancellation
were both invalid.
4. The Government will consent to the Court giving judgment against it to give formal
effect to that agreement. Should the Court, when giving judgment in the case,
agree with the Claimants and the Government on these issues, then this would
involve quashing the cancellation decision and making certain declarations.
This is a demonstration of the Government’s support for a central part of the Claimants’
case, namely, that the Award and LOI were wrongly cancelled by the Government and
that each is, in fact, valid and subsisting, and effective, for all purposes.
Axiom KB and the other defendants are not parties to what has now been consented to
and their case is ongoing. All issues, including those on which the Government and the
Claimants are now agreed, remain to be decided by the High Court.
On 25/9/14 it was announced that AVQ had won its court case against SMM in the Solomon Islands.
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