(TheNewswire)
TORONTO, ON, TheNewswire, Dec. 1, 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 toannounce that the President of Ecuador has signed the eagerlyanticipated pre-legislative consultation decree on November 28, 2022("Decree"). This Decree will guide the formal comment forBacTech’s final community “environmental consultation” phase in order to secure its Environmental License. For BacTech, this Decree builds onthe ESIA Technical approval granted by theGovernment of Ecuador in October 2022 and the Investment ProtectionAgreement signed with the Government of Ecuadorin April 2022 (see October 3, 2022 and May 2,2022 BacTech news releases).
Upon completion of the comment process for theRegulation, which is expected shortly, the President of Ecuador isexpected to enact the Regulation through Presidential Decree. Fromthere, the Company expect two rounds of community consultations led bythe Government of Ecuador. These community consultations are expectedto be similar to the many community consultations led by BacTech sinceinitiating plans to build a new owner-operated bioleaching facility inTenguel, Ecuador.
According to the Ecuadorian Government's currentguidelines, after this pre-legislative consultation process, theGovernment will have a robust environmental consultation in accordancewith the jurisprudential standards that govern the socialparticipation process and guarantee the right of communities to activeparticipation, which is the final component of the EnvironmentalLicense.
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 be materially different from any future results,performance or achievements expressed or implied by theforward-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.
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