My take on is is that the ASX was suspicious that Hazer did not inform the market that the International searching authority did not consider Hazer's tech to be novel or an innovative step that should require protection with a patient and this information was not released to market. ( see quote below )
Hazer has replied "
It is a procedural document during the international phase that informs applicants and assists with commercial decision-making whether to proceed to a national phase patent application.
C. The “Written Opinion of the International Searching Authority” pursuant to the Patent Cooperation Treaty rule 43bis.1 in relation to PCT/AU2016/0001151 , the international application number that corresponds to the application listed above as national number AU 2016240393. 2 This document contains statements to the effect that the opinion of the International Searching Authority is, of the 25 claims made in the application: 1 Available at https://patentscope.wipo.int/search/docservicepdf_pct/id00000035165848/WOSA/WO2016154666.pdf. 2 According to World Intellectual Property Organisation records, https://goo.gl/j7ueC9. 2/2 a. 15 satisfied the requirement for novelty, and the balance did not; and b. 11 satisfied the requirement for an inventive step, and the balance did not.
D. The “Written Opinion of the International Searching Authority” pursuant to the Patent Cooperation Treaty rule 43bis.1 in relation to PCT/AU2016/0002983 , the international application number that corresponds to the application listed above as number WO/2017/031529. 4 This document contains statements to the effect that the opinion of the International Searching Authority is that none of the claims in the application satisfy the either the requirements of:
a. novelty; or b. an inventive step
So.....
What does all this mean ?
Well it's not a pleasing ASX announcement. If you believe Hazer it's just a formal step in the process and the final decision will still be made by international patient offices around the world. If you share the ASX's concern there may be reason to believe that the Hazer process may struggle to gain protection under patent laws.
If it Hazers version is true then no biggie, this will be just a little jitter and we keep marching north next week.
If there is some truth that the patent process may suffer we had better hope that its technically tricky to do what they do and industry will still need Hazer on board when you want to fire up a bunsen burner and give this a go yourself.
As Hazer points out there is still more patent room for the spherical graphite production as well.
Personally I see this only as a little hicup in the march forward but I still maintain HZR is very undervalued given the releases of the last few weeks and the partnerships it is laying down.
Would value others thoughts ?
(20min delay)