who owns matmor ip?, page-7

Obe Wan

Here is an extract from the Intersuisse Report titled "Are we there yet? – Moving towards commercialisation" produced on the 15th October, 2009

". The Matmor technology – which is a derivative of the Coldry technology and with potential application to the steel industry – is not owned by ESI, although there is an agreement in place for the technology to be acquired for A$20M subject to certain milestones. Those milestones were extended in an agreement announced on 1 July 2009 by the payment of A$1M in a combination of shares (4c, 12.5M) and options (2c, 25M). The milestones include the completion of the first Matmor plant (6kt/pa) by 2014. The company has employed “Hatch......recognised globally as leaders in metallurgical process technologies and advanced furnace design.....to perform a review and assessment of commercial development of the Matmor process for iron making”. The cost of this work is estimated at A$35k and the report is expected by 28 August 2009. ESI believes that it will need to commence the construction of the Matmor plant by 2012 to meet its 2014 timetable, although the cost and engineering challenges are issues that are currently being addressed by Hatch;"

Not sure if the agreement is still in place, but I don't remember seeing anything that states otherwise.