My recollection was that DYL testwork using Upgrade was very positive and showed that the ore could be upgraded for the benefit of DYL.
Company announcement on 31/05/2016KEY POINTS
Marenica’s U-pgradeTM metallurgical testwork program demonstrates excellent results on Deep Yellow Tumas samples.
The initial results show that application of Marenica’s U-pgradeTM process to the Tumas bulk samples can effectively reject up to 98% of the mass and retain greater than 82% of the uranium.
Indications are that a high grade concentrate in excess of 13,000 ppm U3O8 can be produced by application of the U-pgradeTM process to the 368 ppm U3O8 Tumas ore.
Significant progress has been made on the crucial de-slime and carbonate removal step and results to date are exceeding expectations.
Because of the significant mass reduction possible with U-pgradeTM, the Tumas project has the potential to have comparatively low capital and operating costs and an accelerated development timeline.
If we can rely on this testwork, Upgrade is critical for JB to develop his project at prices < $70/lb. Tumas is similar to Paladin's LH but smaller and only half the grade... the problem that can be addressed using Upgrade.
My guess is that JB is unhappy to pay for technology and is foxing for a better deal.... or he can press pause on co-operation and reassess later when he really needs MH's consent to use the technology.
Regardless the chance for DYL to buy MEY/EL8 on the cheap is now gone, or this all could just be 4-dimensional chess!
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