Metal Xtractions Corporation ("MXC") made exceptional progress in China during 2019 culminating with the decision early December to form an alliance with a substantial investment group that met all of our due diligence criteria and with the credentials to acquire our eco, circular economy process technology IP on an exclusive basis.

This milestone was reached with the assistance of several New Zealand Government consulates, senior trade executives, and our own Rod MacKenzie former NZTE Group General Manager for North America, Asia, Japan, Korea, and the greater China Region, and our Qiang Yang, Chief of China Operations (domiciled in Chengdu) who worked tirelessly to reach this major goal in China.

It was proposed that a meeting between MXC and the third party investors be held mid December in Chongqing to finalise a robust co-operation agreement that would set out the various stages of the technology due diligence and IP acquisition process.  
 

However, the timing being close to the end of the China Financial Year and NZ domestic run up to Christmas, it was agreed to reschedule the meeting to early 2020.

Mid January we were alerted by our Chinese colleagues that there could be a disruptive event emerging in China and beyond, and so our plans to travel to meet should be postponed.

As February approached, it became evident that an international pandemic threat was about to explode globally. Enter COVID-19    and as a consequence business plans with China were put on hold.