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Originally posted by Yak52:
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.In the circumstances the Company is continuing with PFS studies and investigations and also continues to pursue the potential of the NextOre Pty Ltd (NextOre) ore sorting technology on the Project , which the Company holds exclusivity for Magnetite (Australia wide). On 7 October 2020, the Company announced that it had entered into an agreement with NextOre to supply a mobile NextOre was formed in 2017 by CSIRO, Advisian Digital and RFC Ambrian , NextOre supplies Magnetic Resonance ore sorting solutions to global mining companies that applies mineral sensing technology developed by the CSIRO. NextOre’s Magnetic Resonance analysers apply a form of radio frequency spectroscopy to generate quantitative measurements of target ore minerals in production applications. .................................................................................... It will be my educated guess that to get the "technology" ie: Magnetic Resonance sorting technology MGT was being "blackmailed" by RFC Ambrian to do this shocking deal for funding via a farm-in-agreement. No agreement [farm-in] no Technology. And our management played along until it had signed a deal on 7 Oct for the supply of a mobile bulk Ore sorting plant locking this in. [see in RED above] Next when asking for the Proposal to be revised/amended due to non third party funding being excluded now [and possible changes to farm-in %] BRN declined to submit a full proposal leaving the door open for MGT to exit the deal cleanly. MGT has funds and can raise more if required in the future. Best we have not lost potentially up to 70% to BRN & RFC Ambrian. This gives us more "value" to our shares and effectively has increased their value due to no more BRN dilution! Fantastic. Yak52
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Sorry I meant to use "BMD and not BRN. Typo.
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