Green Tech “bugs” search for gold in Ecuador :: InvestMacro


source: Streetwise Reports 07/14/2022

This green tech company will use rock-eating insects to process gold from mining production in Ecuador – and possibly somewhere near you.

BacTech Environmental Corp. (BAC: CSE; BCCEF: OTC; OBT1: FRA) he said to her Signed Letters of Intent With several mining cooperatives to deliver up to 58 tons per day (tpd) of gold concentrate to be processed at its new biological bleaching plant in Ecuador.

The company said it would negotiate the final terms of the deal before opening its factory in Tenghil in the first half of 2023.

The company announced the agreements covering gold arsenopyrite concentrates from three mines and processors, and were signed on July 5 and July 12.

Chris Temple, magazine editor and publisher said: National Investor.

“I’m pretty confident that once they build that initial plant, start processing, and everybody sees the company is making money, the miners are making money, (and) the government is making money, … you’ll see this thing cloned very quickly,” Temple said. Streetwise Reports.

Biological bleaching uses naturally occurring bacteria to produce minerals and makes it possible to work with low grade ore and recover minerals from tailings sites as well as mines. Since it was first tried commercially in South Africa in 1986, more than 20 bio-distilleries have been established globally since then.

How do bacteria eat rocks? Ross Orr, president and CEO of BacTech, says to photograph a brick wall where sulfur is the slurry that holds everything together in the rocks. Bacteria chew and oxidize the sulfides. Once the mortar is gone, the wall collapses.

Orr said the new agreements add “another layer of credibility that this thing is really heading into production.”

New agreement with the government

The Ecuadorean government in May Occurred An Investment Protection Agreement (IPA) with BacTech, gives Green Tech a 12-year exemption from income tax, equity guarantees, free transfer of profits abroad, freedom of import and export operations, and international arbitration of disputes.

BacTech said the terms of the IPA cover $95.5 million in plant construction and gold production activities through 2024 and additional investments and expansions.

BacTech discovered in March that Ecuador had approved the construction permit for its $95.5 million plant near Ponce Enriquez faster than expected.

biological rock. Source: BacTech Environmental Corp.

There are 90 small mines in the area that produce large amounts of arsenic besides gold. The company said the 50-ton-per-day plant will be able to process high-grade gold/arsenic and produce 1.75 ounces of gold per ton of feed for about 30,900 ounces of gold annually. There is potential for expansion as the total material availability in the region is estimated at 250 tons per day.

Contracting for just over 50 tons per day gives the plant some room to always be at or near capacity when there are supply issues. Orr said the plant has room to expand in terms of its capacity, too.

“Can we add another 10 (tpd)?” Orr said.

The project will have a pre-tax profit of about $10.9 million and a two-year payback period, according to data from EPCM consultants.

The company said local miners would earn more money. It intends to restore its compensation to previous levels before the price cuts imposed by Chinese buyers due to recent import duties on arsenic/gold concentration entering China.

Orr said BacTech will not purchase any concentrates that have been pre-treated with cyanide or mercury.

“We intend to capture the majority of the local small scale mining market by offering environmentally friendly processing that supports fair business practices,” Orr said in a press release on Wednesday.

Ecuador is just the beginning

Temple said BacTech is well positioned to demonstrate that value can be recovered from mine waste around the world.

“They’ve had better successes than anyone else in Ecuador,” Temple said. They are looking for another possible operation in Peru. They are looking at … North America.”

BacTech is also working on a file pilot facility in Sudbury, Ontario, which will recover nickel, cobalt, iron, and a geopolymer product from peridotite concentrates that have been produced over the past 100 years. The pilot plant should start sometime this summer.

BacTech has a market capitalization of C$15.5 million with 172 million shares outstanding. It is trading in a 52-week range of C$0.17 and C$0.06.

Disclosures:

1) Steve Sobek wrote this article for Streetwise Reports LLC. He or his family members own the securities of the following companies mentioned in the article: None. He or his family members get paid by the following companies mentioned in this article: None.

2) The following companies mentioned in this article are sponsors of Streetwise Reports billboards: BacTech Environmental Corp. Click over here For important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. As of the date of this article, a Streetwise Reports affiliate has an advisory relationship with BacTech Environmental Corp. Please click over here for more information.

3) The material does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action the reader takes as a result of the information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ full legal terms of use disclaimer. This article is not a solicitation to invest. Streetwise Reports does not provide general or specific investment advice and the information in Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the businesses, products, services, or securities of any company mentioned on Streetwise Reports.

4) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the Site, may have a long or short position in said securities. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or selling such securities on the open market or otherwise from the time of the decision to publish an article until three business days after the article is published. The foregoing prohibition does not apply to articles that merely repeat in substance the company’s previously published versions. As of the date of this article, the officers and/or employees of Streetwise Reports LLC (including their family members) own the securities of BacTech Environmental Corp. , a company mentioned in this article.


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