TORONTO, May 23, 2024 (GLOBE NEWSWIRE) — EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK) (“EnviroGold,” or the “Company”), a technology company enabling the global mining industry to monetize valuable metals contained in mine waste and tailings, reduce environmental and mine closure liabilities, and improve social and environmental outcomes, is pleased to announce that it has entered into an agreement to purchase an integrated metal processing plant developed at the Commonwealth Scientific and Industrial Research Organisation’s (“CSIRO”) Australian Minerals Research Centre in Perth, Western Australia.
The plant includes: multiple cascading mixed acid leach tanks, a Counter Current Decantation (“CCD”) system, Residue Neutralisation and Filtration, Acid Recovery, and Iron Hydrolysis to enable Production of Magnetite Co-Product. The CCD system is used to separate post leach slurry from the fully encapsulated Pipe Reactor into pregnant leach solution and washed acid insoluble residue.
Originally developed by the CSIRO for research into the recovery of high purity nickel and cobalt battery metals via solvent extraction, the plant is ideally suited, with minor modification, to demonstrate the NVRO Clean Leach Process at scale. The plant will be relocated and installed at the EnviroGold Clean Leach demonstration facility in Brisbane, Australia.
NVRO Clean Leach Process Demonstration Plant
The plant is now surplus to CSIRO requirements, can process up to 15 tonnes per day of mine tailings, milled ore or smelter waste, and is ideal to showcase the NVRO Clean Leach Process on a small commercial scale with multiple customers already expressing interest to move from lab scale to pilot scale trials. The cost and time savings in acquiring a proven demonstration plant will significantly accelerate the EnviroGold go to market strategy.
As previously disclosed, the Company intends to transport tailings from the mine sites of its customers to the EnviroGold Clean Leach demonstration facility, where it will process the tailings and provide independent analysis of the technical and economic outcomes. The Company expects that the availability of operating data will be sufficient for customers to complete Bankable Feasibility Studies and enter into commercial licence agreements with EnviroGold for full scale production.
EnviroGold CEO, David Cam said, “The procurement of the demonstration plant is coming together at a time of heightened interest in mine closure liabilities, tailings reprocessing, and environmental remediation. As demand for strategic and precious metals continues to increase, EnviroGold is now well positioned to accelerate the monetization of its Clean Leach Process and leverage its expertise to expand its customer base.”
About EnviroGold Global
EnviroGold is a technology company enabling the global mining industry to monetise valuable metals from mine waste and tailings and reduce mine closure and environmental liabilities. EnviroGold’s proprietary technology is at the leading edge of a paradigm shift in global demand for precious and critical metals and greater social demand for better environmental outcomes. The Company operates on a technology license fee model with low capex requirements and intends to establish itself as a leading global technology company focused on shareholder value.
Contact
Mr. David Cam, CEO
Telephone: +1 416 842 9003
Email: IR@EnviroGoldGlobal.com
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements pertaining to the acquisition of the integrated metal processing plant to process mine tailings or milled ore to showcase the NVRO Clean Leach Process on a small commercial scale, the cost and time savings in acquiring the integrated metal processing plant to significantly accelerate the EnviroGold go to market strategy, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
A photo accompanying this announcement is available at:
https://www.globenewswire.com/NewsRoom/AttachmentNg/e8b40348-fa4f-48eb-8683-639144489ddb
