BacTech Environmental Begins Trading on the OTCQB Market in the U.S.
Monday, September 26th, 2022
TORONTO, ON, September 26th, 2022 – BacTech Environmental Corporation (CSE: BAC, OTCQB: BCCEF, FSE: 0BT1) (“BacTech” or the “Company”), a commercially proven environmental technology company delivering eco-friendly bioleaching and remediation solutions for precious metal and critical mineral recovery, is pleased announce that the Company has been approved to commence trading of its common shares on the OTCQB Venture Market in the United States, beginning today under the ticker symbol “BCCEF”.
“The Company is making significant headway with our commercial-scale bioleaching developments and recognizes the importance of increasing our visibility and accessibility to U.S. capital markets and the growing base of sustainable investors,” said Ross Orr, President and CEO of BacTech Environmental. “We are a clean tech solution for mining practices that have not modernized or decarbonized. As we continue to press forward with commercialization plans, we’re pleased to secure our OTCQB listing to help facilitate easier trading access.”
The OTCQB is the premiere marketplace for developing U.S. and international companies that are committed to providing a high-quality trading and information experience for their U.S. investors. The OTCQB quality standards provide a strong baseline of transparency as well as the technology and regulation to improve the information and trading experience for investors.
BacTech Environmental has an account in good standing with the Depository Trust & Clearing Corporation (DTCC) to further enable the easier electronic clearing and settlement of the Company’s common shares in the United States.
BacTech trades on the OTCQB under “BCCEF”, the CSE under its symbol “BAC” and the FSE under the symbol “0BT1”.
About the Tenguel – Ponce Enriquez Bioleaching Project
BacTech is planning to build a new owner-operated bioleaching facility in Tenguel, Ecuador, in a region where arsenic is associated with gold ore (Arsenopyrite). The Company’s plan is to build a 50 tpd bioleach plant capable of treating high gold/arsenic material. A 50 tpd plant, processing feed of 1.75 ounces of gold per tonne, similar to feeds available to the Company from local miners, would produce approximately 31,000 ounces per year. Plant designs are modular and can be expanded without affecting ongoing production. The total concentrate market in the Ponce Enriquez area is estimated to be between 200 and 250 tonnes per day, allowing for increased throughput potential with a larger plant.
Key economic highlights, assuming a base gold price @ $1,600 per ounce:
- Pre-tax NPV (Net Present Value with 5% discount rate) of $60.7M
- Pre-tax IRR (Internal Rate of Return) of 57.9%
- Annual Gold Production of 30, 900 ounces
- Capital Cost of $17M
- Bioleach Operating Cost of $212 per tonne
- Assumed Purchase Prices of Concentrate – 65% of the contained gold value
- Pre-tax Earnings Prior to Employee Bonus – $10.9M annually
- Estimated local employee bonus pool – $1.64M
In total, there are over 90 small mines operating in the area. BacTech continues to investigate the prospects of establishing additional modern bioleaching facilities across other areas of Ecuador, Peru, and Colombia. Where possible, the Company will partner with national and local governments, non-governmental organizations (NGOs) and others to assist with the funding of these projects and ensure that they meet the Company’s high expectations not only for environmental standards, but also for the highest standards in all ESG considerations.
About BacTech Environmental Corporation
BacTech is a proven environmental technology company, delivering effective and eco-friendly bioleaching and remediation solutions to commercial operations to process and recover preferred metals (gold, silver, cobalt, nickel and copper) smartly and safely remove and transform harmful contaminants like arsenic into benign EPA-approved products for landfill. Tapping into numerous environmental and economic advantages of its proprietary method of bioleaching, BacTech uses naturally occurring bacteria, harmless to both humans and the environment, to neutralize toxic mining sites with high-pay potential. BacTech is publicly traded on the CSE under the symbol “BAC”; on the OTCQB as “BCCEF”; and the Frankfurt Stock Exchange as “0BT1”.
For further information contact:
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Additional Press Releases & News:
- Find BacTech Environmental at PDAC, Booth #3239 March 3-6, 2024 14-02-24
- BacTech Provides a Follow-Up Update on Sudbury Pyrrhotite Tailings R&D Project 16-01-24
- BacTech Provides Financing Update 19-12-23
- BacTech Provides Update on Sudbury Pyrrhotite Tailings R&D Project for Clean Recovery of Metals 12-12-23
- BacTech to Raise $1M Through a Private Placement of Units 21-11-23
- BacTech Environmental Receives Final ESIA Permit Approval from Ecuadorian Government to Begin Development of Bioleach Processing Facility in Tenguel 18-11-23
- MIRARCO Secures Grant Money to Complete Pilot Testing BacTech Environmental Bioleaching IP for Nickel-Cobalt Recovery from Tailings 14-08-23
- BacTech Comments on Constitutional Court of Ecuador’s Temporary Suspension of Decree 754 03-08-23
- BacTech Engages Analytica Securities to Raise $US20M in Green/Social Bonds for the Tenguel Project 26-07-23
- BacTech Environmental Establishes Sustainable Bond Framework to Finance Ecuador Bioleach Project 24-07-23
- BacTech Environmental Joins Ontario Government Delegation at Green Expo 2023 in Mexico City and Monterrey 29-06-23
- BacTech Environmental Provides Corporate Update 16-06-23
- BacTech Environmental Engages Moneta Advisory Partners; Wall Street Veterans Marc LoPresti and Jon Najarian to Help Drive Investor Awareness Program 15-06-23
- President of Ecuador Signs Community Consultation Process Decree; Clears Path for BacTech Environmental to Pursue Final Major Permit 01-06-23
- BacTech to Present at the Sequire Investor Summit in Puerto Rico 20-04-23