Business
Seed Investment in Ideon Technologies Inc.
Seed Investment in Ideon Technologies Inc..
About this update from Mineral And Financial Investments Ltd
[{"type":"text","content":"\n \n \n RNS Number : 7169S\n Mineral & Financial Invest. Limited\n 13 July 2020\n \n \n \n \n Mineral & Financial Investments Limited\n \n \n Seed Investment in Ideon Technologies Inc.\n \n \n \n \n \n HIGHLIGHTS:\n \n \n · \n \n M&FI has made a seed-round investment in Ideon Technologies Inc., a private company applying cosmic-ray muon tomography to define underground 3D rock density images.\n \n \n \n · \n \n The Company's proprietary detectors and software, a result from nine years of research and development, have been successfully field tested at mineral projects in America and Australia.\n \n \n \n · \n \n Ideon's technology may potentially revolutionise mineral exploration and resource development.\n \n \n \n · \n \n Company plans develop down-hole detectors for commercial release in 2021.\n \n \n \n \n \n \n \n GEORGE TOWN CAYMAN ISLANDS, July 13, 2020 -\n \n Mineral and Financial Investments Limited (LSE-AIM: MAFL) \n (\"M&FI\")\n is pleased to announce that it has made a seed investment of CAD$100,000 in Ideon Technologies Inc. (\"Ideon\") as part of a CAD$1.3 million private fund raising.\n \n \n Ideon is a world pioneer in cosmic-ray muon tomography, providing x-ray-like imaging to mineral exploration and resource development ventures. \n \n \n Founded in 2013 as a spin-off of TRIUMF, Canada's national particle accelerator laboratory, Ideon is using muon tomography to transform mineral exploration and mine monitoring. The company's platform integrates proprietary detectors, imaging systems, inversion technologies, and artificial intelligence to provide x-ray-like visibility up to 1 km beneath the Earth's surface. \n \n \n Based on nine years of research, development, and global field trials, Ideon's breakthrough technology has the potential to generate significant value for the mining and mineral exploration sector. Mineral deposits are often a different density to the outlying host rocks and the ability to define high-density areas in 3D prior to resource drilling could save significant amounts in exploration spending. In addition, by using passive collection methods and improved target resolution prior to drilling, Ideon's technology may reduce the surface disturbance footprint related to mineral exploration and resource definition\n \n \n Field testing has been successfully under...