Axiom Mining Ltd. (ASX:AVQ) announced that it’s entered into a AU$15-million convertible note facility agreement with InCoR Holdings plc. The money will be used to fund the initial phase of development at the company’s Isabel nickel project.
The company will also enter into a strategic parternship with InCoR and InCoR Technologies Ltd., its 70-percent-owned subsidiary.
Highlights include:

• Project funding secured for first phase of development at the Isabel Nickel Project with experienced resource venture capitalist and project incubator InCor Holdings Plc (‘InCoR’)
• AU$15 million convertible loan note facility, with drawdown in three tranches of AU$5 million
• Strategic partnership with InCoR and its 70% owned subsidiary InCoR Technologies Limited (‘InTech’) to provide technical expertise in nickel metallurgy and mining and to assess the implementation of InTech’s proprietary nickel processing technology, the Starved Acid Leaching Technology (SALT), at the Isabel Nickel Project
• SALT is designed to economically beneficiate low grade nickel laterite (saprolite) ores that might otherwise be of low commercial value and will be in addition to planned direct shipping of ore operations.

Click here to read the full Axiom Mining Ltd. (ASX:AVQ) press release.