How *do* magnets work? No one really knows but electro permanent magnets are more black magic.
For more about AlNiCo based EPMs, check out the NicaDrone OpenGrab EPM: https://www.youtube.com/watch?v=ggvm-GQxwaY
Part 2 will be in a few weeks to a month or so once I can design the rest of the parts for the drop mechanism, and get them CNC machined.