Axiom Mining (ASX:AVQ) has completed its 15 for 1 share consolidation that could broaden the company's appeal to larger investors including institutional investors.
The company is targeting the establishment of a DSO operation at its world-class Isabel nickel project in the Solomon Islands by late 2015.
Following the consolidation, the company now has a capital structure of 240,356,398 shares.
Normal trading is expected to resume on 16 April.
Isabel Nickel Project
Recent infill drilling at Havihua Ridge of the Isabel Project has confirm the continuity of high grade nickel mineralisation zone over a 700 metre strike length.
Key results include:
- 15.0 metres at 1.76% nickel from surface, including 11.4 metres at 1.87% nickel;
- 15.8 metres at 1.41% nickel from 1.2 metres, including 7.0 metres at 2.03% nickel;
- 10.5 metres at 1.53% nickel from 2.5 metres, including 5.5 metres at 2.04% nickel; and
- 11.3 metres at 1.41% nickel from 3.2 metres, including 3.0 metres at 2.29% nickel.
The 29 infill drill holes will also provide information for the calculation and evaluation of a maiden JORC resource.
Isabel is considered to be one of the largest nickel laterite deposits in the Pacific.
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