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[Ferro-Alloys.com]Axiom Mining has outlined its intention to make a loyalty bonus option issue to shareholders.
The issue would be to shareholders with 125,000 or more at the record date, who would be issued one free loyalty bonus option for every eight ordinary shares held.
Axiom said that it will seek shareholder approval at the AGM which will take place no later than the 31st March 2016.
Details of the options
- The options will be exercisable at $0.45;
- Expiry date of the 31st March 2017;
- The record date will be at least five business days after the AGM at which shareholders’ approval is sought.
- Axiom will consider listing the Options on the Australian Securities Exchange when the Company achieves significant positive cash flow from the sale of nickel ore from the Isabel Nickel Project.
Isabel shipments
Earlier in the month the company said that it was moving closer to a milestone first shipment of nickel ore form Isabel in the Solomon Islands during Q1 2016, as a A$10 million financing facility and long-term offtake deal unfold.
Planning, design and development work at the project with an eye on this near-term export scenario has paralleled a due diligence process with global independent trading house Gunvor Singapore for financing and offtake continues.
This follows from an initial offtake agreement for 500,000 tonnes of nickel ore and A$5 million ore pre-payment facility executed with Gunvor in December 2015.
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