The MaxTool Annular Magnetic Cutting bit is an exceptional industrial drill bit that has made my work much more efficient and smoother. According to my experience this cutting tool has a very strong magnetic base which secures it tightly onto the workpiece and prevents slippage during the drilling process. It also cuts very precisely and accurately, making it easy to create clean holes. The only downside is the price, which is a BIT higher than some other cutting tools on the market....