I think it is a good deal for Orbite and the claim owners.
Try to compare 2.4M shares with a possible undilutable free carry of 20% in the plant and mine to commissioning, which is what many companies are offerring to claim owners in Africa and elsewhere.
If the claim owners have done much work on the claim, then this work could itself already be valued at several millions of $ already. And Orbite needs only 1M to raise the property to compliant levels.
I also believe that with Alex and maybe Le Vac on Orbite's side, it is already more or less well known that the resource will be proved. In otherwords, the deal will go ahead, IMHO.
I think that kaolin layers have 37% Alumina but the silica layers have much less alumina and the average will be between 20 to 25% alumina. Who knows Orbite may start having separate HPSi and HPA plants and selective mine feedstocks can work - in any case it does not really matter - separate or not separate - its one process.
I also think that this is possibly either an HPA and HPSi operation or Orbite is seeing far much more value in silica (possibly much bigger markets and much greater tech-opexes-advantage - for Orbite) than the other clay components (since they mention only alumina and silica values).
The NS location is extremely good for markets along the Eastern Seaboard in addition to already having great infrastructure and gas. A very strategic move on Orbite's side. Orbite seems to have been very welcome by the NS Political establishment and maybe NS has very good tax and investment incetives.
In any case, like all great investions go, someone will have a technology that may not work as efficiently as Orbite's, but will play good-second fiddle to Orbite's in 2 to 3 years time (my prediction - as there are many pretenders to the throne - some separate processes already being applied to some mine materials by some companies - and no doubt many will surface in the coming years).
As Orbite expands globally, it is much easier to acquire a claim (100%) NOW than when, according to the masses, Orbite's technology will be entirely 'derisked' and 'proven'.
Just humble opinions.
And thanks all of you for your sharing.