(TheNewswire)
Moody’s Issues Favourable Ratingon BacTech’s Proposed Green and Social Bonds
TORONTO, CANADA – TheNewswire - July 24, 2023 – BacTech Environmental Corporation (CSE: BAC ) , ( OTC: BCCEF ) , ( FSE: 0BT1 ) (“BacTech” or the “Company”), a commercially provenenvironmental technology company delivering eco-friendly bioleachingand remediation solutions for precious metal and critical mineralrecovery, today announced it has launched a new Sustainable BondFramework for the issuance of green and social bond offerings.
Quoting from Moody’s public release of today (July24), “We have assigned an SQS2 sustainability quality score (verygood) to BacTech Environmental Corporation’s (BacTech) sustainablebond framework dated July 2023, which will finance two green eligiblecategories and two social eligible categories. The framework isaligned with the four core components of the International CapitalMarket Association’s (ICMA) Green Bond Principles (GBP) 2021 (withJune 2022 Appendix 1) and Social Bond Principles (SBP) 2023. The framework demonstrates asignificant contribution to sustainability.” (Contact the Company for a copy of the full report)
Proceeds from such offerings will finance BacTech’s bioleaching facility construction and program development inTenguel, Ecuador for the liberation of gold and silverfrom concentrates containing high levels of arsenic and will beallocated to support four eligible project investment areas including pollution prevention andcontrol; sustainable water and wastewater management; socioeconomicadvancement and empowerment; and generation of decent and inclusiveemployment.
“The Sustainable Bond Framework is an important and powerful financial instrument that willhelp BacTech open doors and access a global pool of sustainableinvestors interested in financing environmental and socialprojects,” said Ross Orr, President, and CEOof BacTech Environmental. “ This framework willhelp kick start our near-term bioleach facility financingopportunities, while showcasing the sustainable benefits andsocioeconomic contributions that BacTech can make at the communitylevel – from water conservation and helping prevent acid mine drainage, to creating local opportunitiesfor work, training, development, and the start of a new ‘greenmetal’ industry. I would also like to commend Sequestr for managingthe SPO process quickly and efficiently on our behalf.”
Further details on investment opportunities in thefocus categories, in addition to the processes for project selectionand progress reporting, are outlined in the Sustainable Bond Frameworkand Moody’s SPO.
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 sulphide gold ore (Arsenopyrite). The Company’s planis to build a 50 tpd bioleach plant capable of treating highgold/arsenic material. A 50 tpd plant, processing feed of 1.75 ouncesof gold per tonne, similar to feeds available to the Company fromlocal miners, would produce approximately 31,000 ounces per year.Plant designs are modular and can be expandedwithout affecting ongoing production. The total concentrate market inthe Ponce Enriquez area is estimated to be between 200 and 250 tonnesper day, allowing for increased throughput potential with a largerplant. BacTech has signed an agreement with the government to build aPhase 2 plant that would see the addition of 150-200 tpd of capacitycapable of producing in excess of 100,000 ounces per annum.
Key economic highlights, assuming a base gold price @$1,600 per ounce:
• Pre-tax NPV (Net Present Value with 5%discount rate) of $60.7M
• Pre-tax IRR (Internal Rate of Return) of57.9%
• Annual Gold Production of 30, 900ounces
• Capital Cost of $17.0M
• Bioleach Operating Cost of $212 pertonne
• Pre-tax Earnings Prior to Employee Bonus– $10.9M annually
• Estimated local employee bonus pool –$1.64M
In total, there are over 100 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 Environmental Corporation is a company thatspecializes in environmental technology. We use a process calledbioleaching to recover metals like gold, silver, cobalt, nickel, andcopper, while also safely removing harmful contaminants like arsenic.This process is eco-friendly and uses naturally occurring bacteriathat are safe for both humans and the environment. By using ourproprietary method of bioleaching, we are able to neutralize toxicconcentrates and tailings while also creating profitableopportunities. The company is publicly traded on several stockexchanges, including the CSE, OTCQB, and Frankfurt StockExchange.
For further information contact:
Ross Orr
President & CEO
BacTech Environmental Corporation
416-813-0303 ext. 222,
borr@bactechgreen.com
Website: www.bactechgreen.com
Investor Presentation: www.bactechgreen.com/investors
Vimeo https://vimeo.com/bactechgreen
Disclaimer: Stated goals of raising US$20 million tofinance planned construction of the project in no way guaranteesprocess approval.
Special Note RegardingForward-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 contained herein are made as of the date ofthis news release and the Company disclaims, other than as required bylaw, any obligation to update any forward-looking statements whetherbecause of new information, results, future events, circumstances, orif management’s estimates or opinions should change, or otherwise.There can be no assurance that forward-looking statements will proveto be accurate, as actual results and future events could differmaterially from those anticipated in such statements. Accordingly, thereader is cautioned not to place undue reliance on forward-lookingstatements.
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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