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MATRIX METALS LIMITED (ASX:MRX) - announcement, 4383652, page-8 - HotCopper | ASX Share Prices, Stock Market & Share Trading Forum
MRX 0.00% 0.7¢ matrix metals limited

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

  1. 1,767 Posts.
    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.

 
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