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Axiom Mining Ltd Announces New Strategic Direction For Australian Assets

Monday, 27 May 2013 08:05pm EDT 

Axiom Mining Ltd announced it has now completed a review of its Australian mineral assets and, in particular, assessed their relevance to the Company with respect to its growing focus on its interests in the Solomon Islands. This review has highlighted the value of the Company‚Äôs Australian mineral tenement portfolio on a stand alone basis as well as optimising that portfolio to a sufficient scale to attract potential investors and acquirers. Axiom therefore intends to undertake a strategy which will effect a structural separation of its Australian mineral portfolio from the Company, including a feasibility study for a separate listing or IPO if appropriate in due course. Leading to the above outcome, the Company will proceed through a detailed process which may include: Joint ventures or farm-in agreements; Sales of individual mineral assets; Applications for and/or acquisitions of new attractive projects; Appointment of a management team dedicated to develop the Australian Projects in the future; and Developing appropriate capital funding approaches for the portfolio. The Board of Axiom will focus on executing this strategy over the next 12 to 18 months. 

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