BacTech Environmental Ends Participation in Telamayu Project
Monday, September 9th, 2019
BacTech Environmental Corporation (“BacTech” or the “Company”) (CSE:BAC, OTC-BCCEF) today announced that it will not proceed with the reclamation of the Telamayu tailings project in Bolivia. After completing metallurgical test work on the project and evaluating the economics of the project it was decided that the project would be too difficult to finance. It was estimated that the project would cost up to $US 9M.
The inability to recover tin into a suitable concentrate severely hampered the economics of the project. Given the fact the value of the tin made up roughly 50% of the value of the contained metal in the tailings financing the project was deemed to be too difficult.
BacTech will continue to pursue arsenopyrite opportunities in Ecuador and other Andean countries that allow for the use of the Company’s proprietary bioleach technology. Bioleaching produces a stable form of arsenic, ferric arsenate, as a by-product of the bioleach process. Since the beginning of 2019 the Company has visited the Ponce Enriquez area of southern Ecuador to meet with small mine producers of arsenopyrite. BacTech hopes to establish a bioleach processing facility that would offer an alternative to the small miners who presently sell concentrates to Asia at reduced prices due to high arsenic levels.
BacTech is investigating the use of its proprietary bioleach processing technology to treat historic arsenic tailings and arsenopyrite concentrates produced in the Ponce Enriquez area of Southern Ecuador.
BacTech has recently agreed to participate with a group looking to reprocess the Arsenic Stockpile in Snow Lake, Manitoba.
For further information contact: Ross Orr, President & CEO, BacTech Environmental Corporation/ 416-813-0303 ext. 222, Cell 416-346-5529 and email: firstname.lastname@example.org
Robin Cook, Investor Relations: 416-809-1738, Email: email@example.com
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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.
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Additional Press Releases & News:
- 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
- BacTech Environmental Initiates Certification Process for US$20M Green Bond Offering to Fund Bioleaching Gold Recovery Plant in Ecuador 13-04-23
- BacTech Environmental Announces First Closing of Private Placement 27-03-23
- BacTech Environmental Closes $250,000 Convertible Debenture with Strategic Investor 14-03-23
- BacTech Environmental Announces $1Million Private Placement; Retains MARS Investor Relations in Final Funding Push for Bioleaching Gold Recovery Plant Construction 13-03-23