e-mailed the companyHi,The way I read today's announcement, MRX...

e-mailed the company
Hi,
The way I read today's announcement, MRX are handing over the remaining 30% uranium interest to DYL for $0.00. Is that the case? If so why?
G


Shane McBrides reply: ( i guess a difficult decision in these trying times)
G

In the current market conditions the board made the decision that $3m cash into our bank was more important to Matrix than the potential to retain (20% not 30%) of a uranium potential uranium project in a state in which uranium mining is not permitted.

The payment of the $3m, in accordance with the original agreement, was at DYL’s option not MRX and therefore, there was no certainty that MRX would have got $3m at any point in time.