(via TheNewswire)
Will Lead Ecuador Site Operations and
The strategic addition of David comes on the heels of the Company announcing robust and economically compelling results of its 3rdparty producedBankable Feasibility Study for the staged development of its 100%owner-operated bioleaching facility in Ponce Enriquez,
An experienced manager and sustainability professional who has developed and built on-site capabilities across global operations for organizations including Rio Tinto, Walter Energy, Bluestone Resources, New Pacific Metals, Global Alumina,
“David is intimately familiar with EPCMC’s Feasibility Study findings, and all engineering and development considerations, including theproposed environmental setting, project infrastructure and process economics expectations,” said
“BacTech, through the innovative leadership of
The Company also announced that, pursuant to the Company’s stock option plan, the Board of Directors has approved the issuance of an additional 1,100,000 options to purchase common shares of the Company to directors, officers, employees and consultants of the Company at an exercise price of
About the
BacTech is planning to build a new owner-operated bioleaching facility near Ponce Enriquez,
In total, there are over 90 small mines operating in the area. BacTech intends to return local miner compensation back to previous payment levels, prior to a sweeping price reduction imposed by Chinese buyers due to recent import levies on arsenic/gold concentrates entering
Key Economic Highlights:
Pre-tax NPV (Net Present Value with 5% discount rate) of
$46.9M Pre-tax IRR (Internal Rate of Return) of 48%
Annual Gold Production of 25,900 ounces
Capital Cost of
$15.5M Bioleach Operating Cost of
$212 per tonneAssumed Purchase Prices of Concentrate - 65% of the contained gold value
Pre-tax Earnings Prior to Employee Bonus -
$8.94M Payback (75% DEBT) - 2 years
Additional Project Economics & Parameters:
Plant Design Capacity -15,030 tonnes of dry concentrate per annum
Plant Life - 20 yearsAverage Gold Recovery Bioleaching – 96%
Annual Gold Production (55 gpt average feed) - 25,900 ounces
All-in Opex -
$212 per tonneUp
Front Capital -$15.5M Base Case Gold Price -
$1600 per ouncePayback from Start of Production – 2.5 years
Project Gold Price Sensitivity:
Gold Price | NPV (5%) | IRR | EBITA |
43% | |||
47% | |||
53% | |||
57% | |||
62% |
About
BacTech is a proven environmental technology company, delivering effective and eco-friendly biomining and remediation solutions to commercial operations to process and recover preferred metals (gold, silver, cobalt, and copper) smartly and safely remove and transform harmful contaminants like arsenic into benign
For further information contact:
President & CEO,
416-813-0303 ext. 222,
Email: borr@bactechgreen.com
Website: https://bactechgreen.com/
Investor Presentation:https://bactechgreen.com/investors/
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Special Note Regarding Forward-Looking Statements
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to future tailings sites, sampling or other investigations of tailing sites, the Company’s ability to make use of infrastructure around tailings sites or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance, or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether because of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding: 157,455,558
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor is it a solicitation of interest from a prospective investor.
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Copyright (c) 2022 TheNewswire - All rights reserved., source