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All dollar figures in US dollars, economic highlights assume
TORONTO, ON
is pleased to announce andpublicly release updated executive summary results of its 3rdparty produced Bankable Feasibility Study (“BFS”) for the staged development of its 100%owner-operated bioleaching facility in Ponce Enriquez,
BFS economics have been updated to reflect improved optimization works allowing an increased throughput and improved average gold head grade. The latest estimates are reflected in the data that follows:
Updated Key Economic Highlights:
Pre-tax NPV (Net Present Value with 5% discount rate) of
$60.7M (up 29.4% from$46.9M )Pre-tax IRR (Internal Rate of Return) of 57.9% (up from 48%)
Annual Gold Production of 30, 900 ounces (up 19% from 25,900 ounces)
Capital Cost of
$17M (increased from$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 -
$10.9M (up from$8.94M )Estimated local employee bonus pool -
$1.64M Payback (75% DEBT) - 2 years
As previously announced in its
“These updated results are a clear windfall for us, as the revised program economics are extraordinary,” said
The Feasibility Study considers the purchase of concentrates, high in both arsenic and gold levels, from mines located in the Ponce Enriquez area of
Additional Project Economics & Parameters:
Plant Design Capacity - 18,250 tonnes of dry concentrate p/annum (from 15,030 tonnes)
Plant Life - 20 yearsAverage Gold Recovery Bioleaching - 96%
Annual Gold Production (55 gpt average feed) - 30,900 ounces
All-in Opex -
$212 per tonneUpfront Capital -$17M (increase from$15.5M with tank upgrades to stainless steel)Base Case Gold Price -
$1600 per ounceEstimated Start of Production - Q1 2023
Payback from Start of Production - 2.5 years
Adjusted Project Gold Price Sensitivity:
Gold Price | NPV (5%) | IRR | EBITA |
52% | |||
58% | |||
63.6% | |||
69.3% | |||
74.9% | |||
80.5% |
This press release has been reviewed by Dr.
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
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 statementsinvolve 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
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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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