EESTech Signs US$300 Million Agreement
PR Newswire
BRISBANE, Australia, Sept. 2, 2013
BRISBANE, Australia, Sept. 2, 2013 /PRNewswire/ -- EESTech, a publicly
traded company on the OTC Market under symbol EESH, announces that
on Friday, 30th August, the Company signed a binding Heads of
Agreement with Cyndara 273 (Pty) Ltd, a coal producer that operates
a coal beneficiation facility in the district of Vryheid,
South Africa. Cyndara has three
discard dumps and slimes dams currently holding over 4.5 million
tonnes of waste anthracite.
The agreement has EESTech provisioning environmentally
sustainable mine site remediation services which incorporates
EESTech's proprietary HCGT "waste to energy" platform to provide
the energy required to power the Blue Drop Water System for mine
site water purification and the WRAM system for the upgrading of
waste anthracite into a commercially saleable export product.
The Cyndara project will further demonstrate EESTech's
capability to produce a variety of carbon-based products from waste
anthracite. Each product can be tailored to meet different market
requirements with industry pricing for such products ranging from
$US68.00 to $US180.00 per tonne. An
85% yield (3.8 million tonnes) of upgraded product is expected from
the three current dump sites representing potential revenues in
excess $US300million. EESTech will
share equally with Cyndara the revenue benefits from the sale of
upgraded anthracite products.
EESTech has already commenced negotiations for forward off take
agreements with international buyers for the valued output of the
project. A detailed bankable project feasibility study is
being completed prior to the signing of an unconditional agreement
with both parties seeking motivated to initiate construction in Q1
of 2014.
For further information please call Dennis Rutzou on
+612-9413-4244.
SOURCE EESTech Inc