RoXplorer® CT Drilling System Licencing

Posted on May 30, 2018 by DET CRC

IMDEX.

We are delighted to advise that DET CRCs Commercialisation Committee has accepted a proposal from IMDEX to licence the RoXplorer® CT Drilling System. IMDEX does not intend to become a drill rig manufacturer or operator, rather the licence provides the right to sublicence the technology for this purpose. IMDEX plans to work closely with Barrick to identify the appropriate commercialisation model. Relevant extracts from the Commercialisation Proposal as follows:

“The CT Rig is potentially a technology that could be disruptive to conventional drilling methods with the promise of significant productivity, safety and environmental performance. Whilst we do not intend to enter the drill rig manufacturing or drill rig operating businesses we recognise the valuable role that our technologies could play as part of the overall CT Drilling System”

“We are interested in demonstrating our commitment to innovation leadership to Barrick and to the wider mining industry…Finally, with DET CRC’s scheduled wind-up this year we recognise the opportunity for a commercial entity to take carriage of the intellectual property (IP) for this next important stage in the life of the technology prior to the long-term commercial model becoming apparent”

“IMDEX proposes to licence the IP related to the RoXplorer® CT Drilling System as outlined in the DET CRC Opportunity Assessment Report dated 29 September 2017. Our intention is to work with Barrick, using the Nevada trials as a platform, to identify a suitable commercialisation pathway for the technology. Such pathways could include a sub-licence to a rig manufacturer, a consortium approach with manufacturer and operator, the establishment of a new company or some other yet to be identified model….. In the event that we are unable to establish a commercialisation pathway for the technology we will promptly return the IP rights to DET CRC (or more likely, DET CRC’s successor).”