RE: T1 and the good Doctor- ClarificationHello all,
I received a response from the reporter who did the article and from MTX to clear up a few points.
Peter Gregory was interviewed for this article last month.
In the paragraph
"Certain garnets or minerals, with a classification of G9 or G10 found 50 to 600 kilometres down high iron and magnesium pipes, give geologists like Fipke a peek at the predicted grade. Based on his findings “we think there is a very good possibility of finding Victor-quality at a much higher grade,” Peterson says."
This last sentence should have read Mr. Peter Gregory not Peterson.
As for the paragraph
"Metalex pays and Kel-Ex does the work at cost with a 10 per cent administration fee in the case of some Canadian projects. (Metalex) is specifically designed not to make a profit,” Gregory says."
We all know from previous news release from MTX that the following is correct:
"Metalex's exploration projects are managed by Kel-Ex Development Ltd.,a company owned by Dr. Charles Fipke, the Chairman of Metalex. Dr. Peter Gregory, the President of Metalex is a consultant to Kel-Ex. The arrangement with Kel-Ex provides Metalex with access to the advanced proprietary databases and interpretational techniques of Dr. Charles Fipke, an internationally recognized diamond consultant. In return, Kel-Ex receives a 10% administration fee and, in the case of some of the Canadian projects, a 10% interest in the project carried to production. (Kel-Exwill repay its proportionate share of the costs of mine development out of mine profits).
From MTX, we know that Kel-X does not make a profit
on its admsitration and management of the project.
Cheers.