Metalsearch Limited announced it has secured an exclusive worldwide licence from UniQuest, the technology transfer company of The University of Queensland (UQ) for the manufacturing (synthesising) of zeolites (Technology). MSE will also implement commercialisation of the patent-pending processing Technology. The Licence Agreement is subject to several conditions subsequent which must be satisfied at various milestone dates. If the conditions subsequent are not satisfied by the relevant milestone dates UniQuest may terminate the Licence Agreement or choose to waive the relevant condition. The conditions subsequent are as follows: the parties entering into a research agreement for a minimum of $400,000 and a three year term within 30 days of the date of the Licence Agreement. The research to be undertaken by UQ under the research agreement is to finalise the technical aspects of the Technology upon which a Pilot Plant will be constructed (amongst other purposes); the Company completing and operating a pilot plant for synthetic zeolite within 18 months of the date of the Licence Agreement; the commencement of commercial production of synthetic zeolite using the Technology within five (5) years from the date of the completion of the Pilot Plant; and the Company deriving commercial production from a minimum of three (3) countries within six (6) years from the date of completion of the Pilot Plant.