Axiom Mining was incorporated in June 1992, when it began its
Vietnam exploration-mining activities and has maintained a
presence in Vietnam ever since. The history of Axiom Mining covers some 14 years of experience
in dealing with a new commercial mining frontier, which have now positioned Axiom Mining well for an extensive two-year
Axiom Mining’s prime business objective is to move from
exploration and resource definition to feasibility study stages on
its Projects that meet commercial parameters of grade and
tonnage needed for profitable exploitation, as determined by
be given to projects where mining, initially by lower cost open pit
methods, is feasible. Priority projects are the Sepon area projects
at Quang Binh and Quang Tri and the Cardross and OK Mines
projects in Queensland.
Axiom Mining has been strategically focused on Vietnam and
Laos, as those two countries have had recent major mineral
discoveries while remaining two of the most under-explored
mineral regions in Southeast Asia. Axiom Mining’s persistence
and experience in working in Vietnam has resulted in it being one of only seven foreign
companies to be issued mining or exploration licences in 2006. I
The Company considers that Vietnam and Laos have geological
potential for major discoveries, but these substantial exploration
programs take time.
As part of a strategy to balance its
exploration profile Axiom Mining has broadened its strategic
focus to encompass Queensland in Australia, where increases in
the issue of exploration titles combined with the recent escalation
of metal prices has seen growth in exploration activities and new
discoveries around historic mine sites.
The Company’s targets in Queensland include tenements over
historically significant metal producing mines. The application of
modern exploration technology and concepts are being used by
Axiom Mining to explore at depth below these mines and other
areas on the tenements showing similar geological, geophysical
and geochemical signatures.
Axiom Mining intends to complete a
comprehensive two-year drilling campaign on four of the major
prospects in both Vietnam and Queensland with an objective
over that two-year period to delineate a mineable resource in one
or more of the prospects.
With its Southeast Asian focus, Axiom Mining has attracted the
AIM listed Vietnam Opportunity Fund (“VOF”), an investment
fund company managed by VinaCapital as a strategic
cornerstone investor. VOF has a shareholding of approximately 15% and a right to
subscribe for up to 42,000,000 shares for up to 30 months after
the commencement quotation of the Company’s shares in December 2006.
has assembled a team of experienced explorationists who
together with more recent graduates provide an optimum blend
of know-how and enthusiasm.
Axiom Mining has a strong Board of six comprising four non-executive
Directors, one representing VinaCapital, and two
executive Directors. The Board has extensive and proven
technical, corporate and management expertise that will be
beneficial in ensuring maximisation of the Company’s prospects
for future mine development.
The Company although registered in Hong Kong has chosen to
list on the Australian Stock Exchange because of the depth of the
resources sector on that exchange. The Company’s financial,
accounting and corporate governance complies with the ASX
Listing Rules and its accounts will be prepared to comply with the
international accounting standards.
The Board views the outlook for metal prices as continuing to be
positive for the foreseeable future and is confident the Company
has the projects and calibre of management capable of
delivering its exploration goals.