In reviewing the Atlas Mining deal with NaturalNano, note
that Natural was processing at the Dragon Mine site the product it purchased. Was the sale in the 1Q05 report -
probably not because further payment is probably not required until delivery is made. We do not believe any deliveries have been made as yet although some product is said to be ready to be shipped.
Atlas Mining Company Enters Into Collaborative Agreement with NaturalNano Inc.
Osburn, Idaho, January 19, 2005, //Xinhua-PRNewswire// - Atlas Mining Company (OTCBB: ALMI), announced today that the company has sold 500 tons of halloysite clay to NaturalNano Inc. and has agreed to collaborate in the development and implementation of a proprietary separation process. Atlas and its partner NanoDynamics will work closely with NaturalNano.
Atlas Mining was awarded the supply contract by NaturalNano Inc., a technology firm that develops new processing techniques and commercial applications of natural nanoscale materials. The supply agreement could make Atlas one of the world’s largest providers of a unique mineral that contains natural nanotubes – hollow tubes that are billionths of a meter in diameter. Researchers believe the natural nanotubes can become a central component of a new generation of nano-engineered products and technologies.
William Jacobson, CEO of Atlas Mining said, “NaturalNano has taken a very serious interest in our unique halloysite due to its tubular structure. They specialize in processing systems for nano-size materials, and we think that by utilizing their system, we can create an even greater value for our product.” NaturalNano has remitted an initial payment of $125,000 and will process the clay on-site at Atlas Mining’s Dragon Mine in Juab County, Utah for its own use. “The future value of this product is not yet known. However, we expect to realize over $500 per ton for this order and will end up with a processing method that will bring us even greater value,” stated Jacobson. Atlas will have the right to license NaturalNano's proprietary separation process once completed.
The Dragon Mine halloysite clay contains naturally occurring halloysite nanotubes, based on an inorganic molecule composed of aluminum, silicon, hydrogen, and oxygen, which formed in the earth from hydrothermal alteration and surface weathering of aluminosilicate minerals. Like carbon nanotubes, halloysite nanotubes are long, hollow tubes, allowing them to store and deliver a variety of materials, with external diameters ranging from less than 100 nanometers (nm.) up to several microns (or micrometers) and internal diameters ranging from under 20 nm. to 200 nm. or more.
Unlike carbon nanotubes, naturally occurring halloysite nanotubes are inexpensive, readily available in quantity, environmentally benign, and safe and easy to process. Halloysite nanotubes don’t clump together, making them ideal for use in electronic fabrication and other high-tech ceramic-composite applications. The potential marketplace for naturally occurring nanotubes crosses numerous industries, representing significant potential revenues.
“It is our intent to work directly with NaturalNano and NanoDynamics to provide industrial users with a refined and predictable nanotubular material,” concluded Jacobson. |
