(TheNewswire)
TORONTO, ON – TheNewswire- September 26th, 2022 – BacTech EnvironmentalCorporation (CSE:BAC ) , ( OTC:BCCEF ) , ( FSE:0BT1)(“ BacTech ” or the “ Company ”), a commercially proven environmental technology company deliveringeco-friendly bioleaching and remediation solutions for precious metaland critical mineral recovery , is pleased announce that the Company has been approved tocommence trading of its common shares on the OTCQB Venture Market inthe United States, beginning today under the ticker symbol“ BCCEF”.
"The Company is making significant headway withour commercial-scale bioleachingdevelopments and recognizes the importance ofincreasing our visibility and accessibility to U.S. capital marketsand the growing base of sustainable investors,” said Ross Orr, President and CEO of BacTech Environmental.“We are a cleantech solution for mining practices that have notmodernized or decarbonized. As we continue to press forward withcommercialization plans, we’re pleased to secure our OTCQB listing to help facilitate easier trading access.”
The OTCQB is the premiere marketplace for developingU.S. and international companies that are committed to providing ahigh-quality trading and information experience for their U.S.investors. The OTCQB quality standards provide a strong baseline oftransparency as well as the technology and regulation to improve theinformation and trading experience for investors.
BacTech Enviromental has an account in good standingwith the Depository Trust & Clearing Corporation (DTCC) to furtherenable the easier electronic clearing and settlement of the Company'scommon shares in the United States"
BacTech trades on theOTCQB under “BCCEF”, the CSE under its symbol "BAC" and theFSE under the symbol “ 0BT1”.
About the Tenguel – Ponce EnriquezBioleaching Project
BacTech is planning to build a new owner-operatedbioleaching facility in Tenguel, Ecuador, in a region where arsenic isassociated with gold ore (Arsenopyrite). The Company’s plan is tobuild a 50 tpd bioleach plant capable of treating high gold/arsenicmaterial. A 50 tpd plant, processing feed of 1.75 ounces of gold pertonne, similar to feeds available to the Company from local miners,would produce approximately 31,000 ounces per year. Plant designs aremodular and can be expanded without affecting ongoing production. Thetotal concentrate market in the Ponce Enriquez area is estimated to bebetween 200 and 250 tonnes per day, allowing for increased throughputpotential with a larger plant.
Key economic highlights, assuming a base gold price @$1,600 per ounce:
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Pre-tax NPV (Net Present Value with 5% discount rate)of $60.7M
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Pre-tax IRR (Internal Rate of Return) of 57.9%
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Annual Gold Production of 30, 900 ounces
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Capital Cost of $17M
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Bioleach Operating Cost of $212 per tonne
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Assumed Purchase Prices of Concentrate – 65% of thecontained gold value
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Pre-tax Earnings Prior to Employee Bonus – $10.9Mannually
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Estimated local employee bonus pool – $1.64M
In total, there are over 90 small mines operating inthe area. BacTech continues to investigate the prospects ofestablishing additional modern bioleaching facilities across otherareas of Ecuador, Peru, and Colombia. Where possible, the Company willpartner with national and local governments, non-governmentalorganizations (NGOs) and others to assist with the funding of theseprojects and ensure that they meet the Company’s high expectationsnot only for environmental standards, but also for the higheststandards in all ESG considerations.
About BacTech EnvironmentalCorporation
BacTech is a proven environmental technology company,delivering effective and eco-friendly bioleaching and remediationsolutions to commercial operations to process and recover preferredmetals (gold, silver, cobalt, nickel and copper) smartly and safelyremove and transform harmful contaminants like arsenic into benignEPA-approved products for landfill. Tapping into numerousenvironmental and economic advantages of its proprietary method ofbioleaching, BacTech uses naturally occurring bacteria, harmless toboth humans and the environment, to neutralize toxic mining sites withhigh-pay potential. BacTech is publicly traded on the CSE under thesymbol “BAC”; on the OTCQB as “BCCEF”; and the Frankfurt StockExchange as “0BT1”.
For further information contact:
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Email: borr@bactechgreen.com
Website: https://bactechgreen.com/
Investor Presentation: https://bactechgreen.com/investors/
Vimeo http://vimeo.com/bactechgreen
Special Note Regarding Forward-Looking Statements
This news release contains “forward-lookinginformation”, which may include, but is not limited to, statementswith respect to future tailings sites, sampling or otherinvestigations of tailing sites, the Company’s ability to make useof infrastructure around tailings sites or operating performance ofthe Company and its projects. Often, but not always, forward-lookingstatements can be identified using words such as “plans”,“expects”, “is expected”, “budget”, “scheduled”,“estimates”, “forecasts”, “intends”, “anticipates”, orbelieves” or variations (including negative variations) of suchwords and phrases, or state that certain actions, events or results“may”, “could”, “would”, “might” or “will” betaken, occur or be achieved. Forward-looking statements involve knownand unknown risks, uncertainties and other factors which may cause theactual results, performance, or achievements of the Company to bematerially different from any future results, performance orachievements expressed or implied by the forward- looking statements. Forward-looking statements containedherein are made as of the date of this news release and the Companydisclaims, other than as required by law, any obligation to update anyforward-looking statements whether because of new information,results, future events, circumstances, or if management’s estimatesor opinions should change, or otherwise. There can be no assurancethat forward-looking statements will prove to be accurate, as actualresults and future events could differ materially from thoseanticipated in such statements. Accordingly, the reader is cautionednot to place undue reliance on forward-looking statements.
Shares outstanding:172,025,558
The Canadian Securities Exchange (CSE) has not reviewedand does not accept responsibility for the adequacy or the accuracy ofthe contents of this release.
This press release does not constitute an offer to sellor a solicitation of an offer to buy any of the shares, nor is it asolicitation of interest from a prospective investor.
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