EnviroGold Global Acquires NVRO Clean Leach Process Demonstration Plant
May 23 2024 - 7:07AM
EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK)
(“EnviroGold,” or the “Company”), a technology company enabling the
global mining industry to monetize valuable metals contained in
mine waste and tailings, reduce environmental and mine closure
liabilities, and improve social and environmental outcomes, is
pleased to announce that it has entered into an agreement to
purchase an integrated metal processing plant developed at the
Commonwealth Scientific and Industrial Research Organisation’s
(“CSIRO”) Australian Minerals Research Centre in Perth, Western
Australia.
The plant includes: multiple cascading mixed acid leach tanks,
a Counter Current Decantation (“CCD”) system, Residue
Neutralisation and Filtration, Acid Recovery, and Iron Hydrolysis
to enable Production of Magnetite Co-Product. The CCD system is
used to separate post leach slurry from the fully encapsulated Pipe
Reactor into pregnant leach solution and washed acid insoluble
residue.
Originally developed by the CSIRO for research into the recovery
of high purity nickel and cobalt battery metals via solvent
extraction, the plant is ideally suited, with minor
modification, to demonstrate the NVRO Clean Leach Process at
scale. The plant will be relocated and installed at the
EnviroGold Clean Leach demonstration facility in Brisbane,
Australia.
NVRO Clean Leach Process Demonstration Plant
The plant is now surplus to CSIRO requirements, can
process up to 15 tonnes per day of mine tailings, milled ore or
smelter waste, and is ideal to showcase the NVRO Clean Leach
Process on a small commercial scale with multiple customers already
expressing interest to move from lab scale to pilot scale trials.
The cost and time savings in acquiring a proven demonstration plant
will significantly accelerate the EnviroGold go to market
strategy.
As previously disclosed, the Company intends to transport
tailings from the mine sites of its customers to the EnviroGold
Clean Leach demonstration facility, where it will process the
tailings and provide independent analysis of the technical and
economic outcomes. The Company expects that the availability of
operating data will be sufficient for customers to complete
Bankable Feasibility Studies and enter into commercial licence
agreements with EnviroGold for full scale production.
EnviroGold CEO, David Cam said, “The procurement of the
demonstration plant is coming together at a time of heightened
interest in mine closure liabilities, tailings reprocessing, and
environmental remediation. As demand for strategic and precious
metals continues to increase, EnviroGold is now well
positioned to accelerate the monetization of its Clean Leach
Process and leverage its expertise to expand its customer
base.”
About EnviroGold GlobalEnviroGold is a
technology company enabling the global mining industry to monetise
valuable metals from mine waste and tailings and reduce mine
closure and environmental liabilities. EnviroGold’s proprietary
technology is at the leading edge of a paradigm shift in global
demand for precious and critical metals and greater social demand
for better environmental outcomes. The Company operates on a
technology license fee model with low capex requirements and
intends to establish itself as a leading global technology company
focused on shareholder value.
ContactMr. David Cam, CEOTelephone: +1 416 842
9003Email: IR@EnviroGoldGlobal.com
Neither the Canadian Securities Exchange nor its Market
Regulator (as that term is defined in the policies of the Canadian
Securities Exchange) accepts responsibility for the adequacy or
accuracy of this news release.
Forward-Looking StatementsThis news release
contains “forward-looking statements” within the meaning of
applicable securities laws, including, without limitation, earnings
guidance, economic guidance, operational guidance and future
capital spending amounts. All statements contained herein that are
not clearly historical in nature may constitute forward-looking
statements. Generally, such forward-looking information or
forward-looking statements can be identified by the use of
forward-looking terminology such as “plans”, “expects” or “does not
expect”, “is expected”, “budget”, “scheduled”, “estimates”,
“forecasts”, “intends”, “anticipates” or “does not anticipate”, or
“believes”, or variations of such words and phrases or may contain
statements that certain actions, events or results “may”, “could”,
“would”, “might” or “will be taken”, “will continue”, “will occur”
or “will be achieved”. The forward-looking information and
forward-looking statements contained herein include, but are not
limited to, statements pertaining to the acquisition of the
integrated metal processing plant to process mine tailings or
milled ore to showcase the NVRO Clean Leach Process on a small
commercial scale, the cost and time savings in acquiring the
integrated metal processing plant to significantly accelerate the
EnviroGold go to market strategy, and the Company’s ability to
accelerate the world’s transition to a circular resource economy.
Forward-looking information in this news release are based on
certain assumptions and expected future events, namely: the
Company’s ability to continue as a going concern; the continued
commercial viability and growth in the clean technology and mining
waste reprocessing industry; continued approval of the Company’s
activities by the relevant governmental and/or regulatory
authorities; the continued development of clean technology and
mining waste reprocessing technology; and the continued growth of
the Company. These statements involve known and unknown risks,
uncertainties and other factors, which may cause actual results,
performance or achievements to differ materially from those
expressed or implied by such statements, including but not limited
to: the potential inability of the Company to continue as a going
concern; the Company’s inability to accelerate the world’s
transition to a circular resource economy, the risks associated
with assessing metallurgical recovery rates from mine tailings and
waste and related volumetric assessments, the risks associated with
the mining and mining waste recycling industry in general;
increased competition in the clean technology and waste
reprocessing market; the potential unviability of the clean
technology and mining waste reprocessing market; incorrect
assessment of the value and potential benefits of various
transactions; risks associated with potential governmental and/or
regulatory action with respect to clean technology and mining waste
reprocessing; risks associated with a potential collapse in the
value of clean technology and waste reprocessing; and risks
relating to the Company’s potential inability to expand its
reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive.
Readers are further cautioned not to place undue reliance on
forward-looking statements, as there can be no assurance that the
plans, intentions or expectations upon which they are placed will
occur. Such information, although considered reasonable by
management at the time of preparation, may prove to be incorrect
and actual results may differ materially from those anticipated.
Forward-looking statements contained in this news release are
expressly qualified by this cautionary statement and reflect the
Company’s expectations as of the date hereof and are subject to
change thereafter. The Company undertakes no obligation to update
or revise any forward-looking statements, whether as a result of
new information, estimates or opinions, future events or results or
otherwise or to explain any material difference between subsequent
actual events and such forward-looking information, except as
required by applicable law.
A photo accompanying this announcement is available
at:https://www.globenewswire.com/NewsRoom/AttachmentNg/e8b40348-fa4f-48eb-8683-639144489ddb