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Looks like they spent a good amount of resources on that, lol. I like the new look, more professinal
BQE Water Extends the Term of $1.5 Million Convertible Loans
VANCOUVER, BC / TheNewswire / January 5, 2018 – BQE Water Inc. (TSX-V: BQE) (“BQE Water” or the “Company”), a leader in the treatment and management of mine impacted waters, has received approval from the TSX Venture Exchange to replace $1,500,000 of convertible loans due January 6, 2018 (the "Original Loans") with $1,500,000 of convertible loans due January 6, 2019 (the “Replacement Loans”). The lenders include certain directors, management, and employees of the Company, individual investors, and non-management insiders of the Company.
Except with respect to the maturity date, the Replacement Loans will have the same terms and conditions as the Original Loans. The Replacement Loans will bear interest at a rate of 8% per annum and will be repayable in full on maturity. Interest will be payable semi-annually in arrears. BQE Water may elect to prepay all or any portion of the outstanding balance at any time during the term of the Replacement Loans without penalty.
During the term of the Replacement Loans, the lenders will hold a first charge security interest over the assets of the company.
Upon prepayment or maturity of the Replacement Loans, each lender may elect to convert all or any portion of the repaid principal into common shares of BQE Water at a conversion price of $0.06 cents per share. Any accrued but unpaid interest thereon will be converted into common shares at a conversion price equal to the greater of $0.06 cents per share or the then-prevailing market price of the common shares.
The Replacement Loans will ensure that BQE Water has the financial resources to continue executing on its longer term growth strategy.
About BQE Water
BQE Water is a service provider specializing in water treatment and management for the mining and metallurgical industry. We are focused on reducing Life Cycle Costs through customized solutions that reduce risks and long-term environmental liabilities while introducing sustainability into the overall water management plan. We have extensive expertise in the removal, recovery, and/or recycle of a broad range of metals, sulphate, selenium, cyanide, ammonia and other nitrogen species. BQE Water has commercialized several water treatment technologies and built plants at mine sites around the world for organizations including Glencore, Jiangxi Copper, Freeport-McMoRan and the US EPA. A key part of our business is our involvement in the ongoing operation and maintenance of treatment plants. We currently operate several plants under long-term contract and provide operations support to other plants globally. Our capabilities in implementing technical innovation and plant operations provides us with first-hand experience to deliver practical and actionable consultancy services. The company operates water testing laboratories and mobile pilot treatment facilities in North and South America, and China. BQE Water is headquartered in Vancouver, Canada and trades on the TSX Venture Exchange under the symbol BQE. Please visit www.bqewater.com for more information.
BQE Water Reports Q2 2017 Results
August 23, 2017
VANCOUVER, BC – BQE Water, Inc. (TSX-V : BQE), a leader in the treatment and management of mine impacted waters, releases its consolidated financial results for the quarter ending June 30, 2017.
Q2 2017 Highlights
~ Revenues as reported under GAAP were $953,000 compared to $644,000 in Q2 2016;
~ Proportional revenues were $3.2 million compared to $2.1 million in Q2 2016;
~ Net income as reported under GAAP was $265,000 compared to net loss of $1.6 million in Q2 2016;
~ Adjusted EBITDA was $744,000 compared to $71,000 in Q2 2016;
~ Cash and cash equivalents reported under GAAP as of June 30, 2017 was $685,000 compared to $2.2 million at December 31, 2016; and
Proportional cash and cash equivalents, which includes BQE Water’s share held in joint ventures, as of June 30, 2017 was $2 million compared to $3 million at the end of 2016.
Operating Highlights
The Raglan Project, Quebec
During the quarter, BQE Water commenced operations for its 14th operating season at the Raglan Mine site. The plant began treating water in early June, slightly earlier than the prior year. Based on the availability of water at the site, BQE Water expects to conclude operations by September, a few months earlier than prior years.
During Q2 2017, all three plants met or exceeded mechanical availability and process performance. Changes in water volume and feed grade are largely the result of environmental conditions beyond the control of the joint venture and will fluctuate from period to period. During Q2 2017, BQE Water had a decrease of 8% in water treated and an increase in copper recovery of 18% over the same period in 2016. On a year to date basis, all three plants have met budgeted copper recovery after a slow start to the year.
Sales and Project Highlights
Sulf-IX™ Piloting Activity
In early 2017, BQE Water started a pilot testing contract with a Peruvian resource company to demonstrate the capabilities of its Sulf-IX™ technology. BQE Water successfully completed the construction of a Sulf-IX™ pilot plant and finished two months of on-site piloting in Peru during Q2 2017. The pilot campaign was able to meet stringent discharge limits and results are currently being reviewed with the customer to determine the advancement of the project.
Engineering Services
In Q2 2017, BQE Water continued to provide engineering services for a mine located in the Northern Interior of BC. Following BQE Water’s successful pilot demonstration with this client in 2016, BQE Water was contracted to assist them with their permit application and to conduct detailed engineering for a water treatment system to remove selenium and metals using BQE Water’s Selen-IX™ and ChemSulphide® technologies. BQE Water is continuing discussions with the mine site owner to advance the project but the water treatment operations will be a part of the overall development of the site.
Consulting Services
Also during the quarter, BQE Water continued to provide consulting services for several water treatment projects in Canada, United States, Asia, Europe and Latin America. These services covered a broad spectrum of activities including operations support, development of site specific water management strategies and various stages of water treatment assessment for the removal of metals, sulphate and selenium. BQE Water expects that these activities will continue over the next several quarters and may lead to new activities and contracts as water management measures proceed to implementation.
Lab Testing Services
During Q2 2017, BQE Water continued to perform lab scale testing of its technologies at various mine sites with customers in Canada, United States and Latin America. These tests will allow mine sites to assess BQE Water’s technologies and provide high level cost estimates for possible full-scale plants. If results prove favourable, they could lead to additional services including pilot scale testing, design, construction and operation of full-scale plants in the future.
Zinc and Copper Recovery – Joint Venture
In late 2015, BQE Water announced a new joint venture to build, own and operate a zinc and copper recovery plant at a smelter in China. BQE Water has commenced engineering and construction and had expected to begin operations in late 2017. However, due to construction delays beyond the control of the joint venture partners, BQE Water now expects the plant to begin operations in late Q1 2018. Under the terms of the joint venture and operating contracts, BQE Water will receive a fixed-fee for technical support and an ongoing share of the profits from the operation.
Q2 2017 COMMENTARY AND OUTLOOK
Our results for Q2 2017 builds upon the progress achieved over the last year. The first half of the year typically has lower revenues due to the seasonal nature of our operations at the Raglan Mine site and China joint venture. However, as previously noted we finished 2016 with a strong backlog of projects and increased our year-to-date project revenue by 75% over the prior year.
In Q1 2017, seasonal conditions around our plants in China were drier than normal and as a result, we had a slow start to 2017. During Q2 2017, copper recovery increased significantly and we finished the quarter near budgeted levels of copper volume on a year to date basis. The plants in 2017 recovered 388,000 pounds less copper when compared to 2016 but with the increase in average copper price during 2017, our year to date copper revenues were consistent with 2016.
Overall, we increased our positive adjusted EBITDA significantly when compared to the same quarter in 2016. This improvement is a result of maintaining a focused and disciplined cost structure while targeting activities in key markets for future growth.
The current projects completed year to date are the result of efforts over the past several years. We have worked on positioning the Company for success by getting involved in early stages of new projects, strengthening our technical team, and advancing the development and commercialization of new products including our Sulf-IX™ and Selen-IX™ processes. We have also restructured our expenditures over this time to preserve working capital while continuing to expand our project pipeline and deliver our services in a strategic and disciplined manner. We expect to build on this throughout the current year.
Although these projects provide significant opportunities for future one-time and recurring revenues, all these projects happen in stages, typically over a period of two to three years and the timing of revenue and cash flows is uncertain. Consequently, the consistency of the Company’s profitability through 2017 and 2018 cannot be guaranteed with the existing projects pipeline and the continued growth of the projects pipeline, sales bookings, and execution of projects to generate cash flow are the primary areas of focus for the Company’s management.
We are scheduled to repay the principle amount of the convertible loan on January 6, 2018. Currently, we believe that we should generate sufficient cash from operations and new projects through the rest of 2017 to meet this obligation. However, the lack of control in timing of revenues from forecasted projects introduces the risk of temporary shortage in working capital and could impact our ability to repay the loan.
Q2 2017 Financial Highlights Summary
For a complete set of Financial Statements and Management Discussion and Analysis, please go to www.bqewater.com
About BQE Water
BQE Water is a service provider specializing in water treatment and management for the mining and metallurgical industry. We are focused on reducing Life Cycle Costs through customized solutions that reduce risks and long-term environmental liabilities while introducing sustainability into the overall water management plan. We have extensive expertise in the removal, recovery, and/or recycle of a broad range of metals, sulphate, selenium, cyanide, ammonia and other nitrogen species. BQE Water has commercialized several water treatment technologies and built plants at mine sites around the world for organizations including Glencore, Jiangxi Copper, Freeport-McMoRan and the US EPA. A key part of our business is our involvement in the ongoing operation and maintenance of treatment plants. We currently operate several plants under long-term contract and provide operations support to other plants globally. Our capabilities in implementing technical innovation and plant operations provides us with first-hand experience to deliver practical and actionable consultancy services. The company operates water testing laboratories and mobile pilot treatment facilities in North and South America, and China. BQE Water is headquartered in Vancouver, Canada and trades on the TSX Venture Exchange under the symbol BQE. Please visit www.bqewater.com for more information.
TSX Delisting Review - BioteQ Environmental Technologies Inc. (Symbol: BQE)
TORONTO, Oct.13, 2015 /CNW/ - DELISTING REVIEW BioteQ Environmental Technologies Inc. (the "Company") – Further to TSX Bulletin 2015-0611 dated June 12, 2015, TSX has determined to delist the common shares (Symbol: BQE) of the Company at the close of business on November 12, 2015 for failure to meet the continued listing requirements of TSX.
About TMX Group (TSX: X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TSX Alpha Exchange, The Canadian Depository for Securities, Montral Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, AgriClear and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montral, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing, Singapore and Sydney. For more information about TMX Group, visit our website at http://www.tmx.com. Follow TMX Group on Twitter: @TMXGroup.
TSX Delisting Review - BioteQ Environmental Technologies Inc. (Symbol: BQE)
Date : 06/12/2015 @ 8:30AM
TORONTO, June 12, 2015 /CNW/ - DELISTING REVIEW BioteQ Environmental Technologies Inc. (the "Company") – TSX is reviewing the common shares (Symbol: BQE) of the Company with respect to meeting the continued listing requirements. The Company has been granted 120 days in which to regain compliance with these requirements, pursuant to the Remedial Review Process.
About TMX Group (TSX:X)
TMX Group's key subsidiaries operate cash and derivative markets and clearinghouses for multiple asset classes including equities, fixed income and energy. Toronto Stock Exchange, TSX Venture Exchange, TMX Select, Alpha, The Canadian Depository for Securities, Montréal Exchange, Canadian Derivatives Clearing Corporation, NGX, BOX Options Exchange, Shorcan, Shorcan Energy Brokers, Equicom and other TMX Group companies provide listing markets, trading markets, clearing facilities, depository services, data products and other services to the global financial community. TMX Group is headquartered in Toronto and operates offices across Canada (Montréal, Calgary and Vancouver), in key U.S. markets (New York, Houston, Boston and Chicago) as well as in London, Beijing and Sydney. For more information about TMX Group, visit our website at www.tmx.com. Follow TMX Group on Twitter at http://twitter.com/tmxgroup.
SOURCE Toronto Stock Exchange Reviews and Suspensions
BioteQ Q1 2015 Results Conference Call
May 7, 2015
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of mine impacted waters, will host a conference call on Wednesday, May 13, 2015 at 11:00 am Eastern to discuss the company’s first quarter financial and operating results for the period ended March 31, 2015. The company’s financial statements and management discussion and analysis will be released after market close on Tuesday, May 12, 2015 and will be available on www.sedar.com and our website atwww.bioteq.ca.
WHAT
Q1 2015 Financial and Operating Results Conference Call – includes introductory remarks by BioteQ’s management team followed by a Q&A period
WHEN
Wednesday May 13, 2015 at 11:00 am Eastern
WHO
David Kratochvil, President & Chief Executive Officer
Paul Kim, Chief Financial Officer
WHERE
Conference call dial in access:
North America: toll free at 800-505-9573
United Kingdom: toll free at 08002790444
Switzerland: toll free at 0800200345
Participant pass code: 2188508
A replay of the call will be available on BioteQ’s website within two days of the call.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global mine water treatment, serving the mining, metal smelting, refining and hydrometallurgical sectors. The company has commercially proven patented technologies and operational capabilities to help customers achieve compliance with stringent regulations cost effectively while minimizing waste and maximizing water recovery. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore-Xstrata, Freeport-McMoRan, Jiangxi Copper and the US EPA and is currently operating six plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Reports 2014 Annual Financial and Operating Results
March 26, 2015
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of mine impacted waters, releases its financial and operating results for the year ended December 31, 2014. Further information on the annual results can be obtained from the Company's 2014 Annual Report which includes the Audited Consolidated Annual Financial Statements and Management's Discussion and Analysis (“MD&A”).
BioteQ will hold a conference call on March 30 at 11:00 AM EDT to discuss results for the quarter. Participants can dial in as follows:
North America: toll free at 1-800-505-9568
United Kingdom: toll free at 08002790444
Switzerland: toll free at 0800200345
Participant pass code: 8686176
As noted at the beginning of 2013, due to changes in Generally Accepted Accounting Standards (“GAAP”), the results of the Company’s joint ventures are accounted for as equity investments in BioteQ’s financial statements. In prior years before 2013, the results of the Company’s joint ventures were accounted for through proportionate consolidation.
To ensure clarity and comparability with historic results, certain statements in this news release and in the MD&A are characterized as BioteQ’s “proportional" share, which means the effective portion of results that BioteQ would have reported if each of its joint ventures had been reported in accordance with past accounting standards. For further details, please see “Non-GAAP Financial Measures” in the Company’s 2014 MD&A.
2014 Financial Results
The Company has reported improved financial results for the year. Highlights of results include:
Revenues as reported under GAAP were $3.6 million compared to $4.1 million in 2013, a decline of 12% year over year;
Proportional revenues for the year were $7.8 million compared to $7.6 million in 2013, an increase of 3% year over year;
Net loss as reported under GAAP was $1.7 million compared to $6.4 million in 2013;
Adjusted loss before interest, tax, depreciation and amortization (“adjusted EBITDA”) for the year was $929,000 compared to a loss, excluding impairment of Bisbee and Dexing IX investments, of $2.3 million in 2013; and
Cash and cash equivalents and short term investments, including our share held in joint ventures, was $2.2 million compared to $3.2 million at the end of 2013.
Other Items
In January 2014, BioteQ closed a financing under a Share Rights Offering to raise gross proceeds of $1.2 million. Net proceeds, after transaction costs, were approximately $1 million;
In February 2014, BioteQ announced changes to its executive management team and roles on its Board of Directors. David Kratochvil, previously BioteQ’s President and Chief Technology Officer, rejoined the Company in the capacity of President and Interim Chief Executive Officer. In December 2014, he became the Company’s permanent Chief Executive Officer;
During 2014, NWM Mining made total payments of $700,000 towards the legal settlement reached with BioteQ back in April 2012. All payments under that settlement have now been received; and
In October 2014, a settlement was reached in BioteQ’s litigation with Aditya Birla Minerals (“Birla”). Under the terms of the settlement, BioteQ paid approximately $73,000 (AUD $75,000) to Birla. Birla took ownership of all demobilization obligations and residual plant equipment currently at their Mt. Gordon mine site. Both parties also agreed to release and withdraw their claims against each other. The settlement agreement involves no admission of liability or violation of law by either party, and bars the parties from pursuing further associated claims in the future.
Water Treatment Operations
BioteQ successfully completed its 11th operating season at the Raglan mine site. During the year, BioteQ treated and discharged a total of 1.1 million cubic metres of water compared to 838,000 cubic metres in 2013. The 2014 season was the second highest volume of water we have treated at the site since we began operations in 2004;
BioteQ’s joint venture in China with partner, Jiangxi Copper Company (“JCC”), operated three plants during the year. In addition to its existing water treatment plant at the Dexing mine site, the joint venture completed construction and commissioning of two new copper recovery plants during the year: one at the Yinshan mine site and a second treatment plant at the Dexing mine site. Both mine sites are owned by JCC. The joint venture treated a combined total of 11.4 million cubic metres of water and recovered 2.6 million pounds of copper during the year.
The existing water treatment operation at the Dexing mine site treated 8.1 million cubic metres of water and recovered a total of 2.1 million pounds of copper compared to 2013 when the plant treated 8.9 million cubic metres of water and recovered 1.8 million pounds of copper;
The new plant at JCC’s Yinshan mine site began operations in early June and treated 1.2 million cubic metres of wastewater and recovered 240,000 pounds of copper; and
A second copper recovery plant at JCC’s Dexing mine site began operations in August. The plant treated 2.1 million cubic metres of wastewater and recovered 270,000 pounds of copper.
Sales and New Technology Development
Since the personnel changes announced at the beginning of 2014, management has been actively engaging existing and potential new customers to advance joint business opportunities and have been working with several new channel partners to broaden BioteQ’s outreach and capacity to execute projects.
The following is an update on key projects that commenced in 2014 and are currently in progress:
Selenium Removal - Selen-IXTM
In Q2 2014, BioteQ secured a contract with a Canadian gold exploration company, to conduct pilot scale testing of its Selen-IX™ technology for selenium removal utilizing its mobile Selen-IXTM pilot plant that was built in 2013. The pilot testing is being used to demonstrate the capacity of the Selen-IX™ process to meet stringent discharge limits for selenium and provide engineering design data required for evaluating the overall capital and operating costs of a full scale plant that would treat up to 43,000 m3/day of wastewater. The current value of the contract is now approximately $1.4 million. Piloting is expected to be completed in Q1 2015 and final results will be reviewed with the customer during the second quarter 2015.
EcoMetales Limited – BioSulphide® Plant Design
In Q2 2014, BioteQ secured a technical services contract with its Chilean strategic partner EcoMetales Limited (“ECL”) for the detailed process engineering of a smelter effluent treatment plant using its BioSulphide® process. The plant removes arsenic from wastewater originating from a smelter operation in Chile. The objective of the project is to reduce the mass and volume of hazardous waste generated, as well as to improve water re-use from the existing process. BioteQ’s work on the project is expected to be completed by Q2 2015. Upon completion of the current contract, the client will internally assess the feasibility of the proposed plant.
OUTLOOK
In mid-2014, BioteQ provided financial estimates for its full year results. The following is commentary on final year end results against these estimates and outlook for 2015.
BioteQ anticipated its Proportional Revenues to be in the range of $6.8 million to $7.3 million for the year. Actual results exceeded estimates at $7.8 million. The increase was driven by high water volumes treated at the Raglan operation and an increase in the scope of work for the current Selen-IXTM pilot project in late Q4.
In terms of its Adjusted EBITDA estimate, BioteQ expected a significant improvement in its loss compared to 2013. BioteQ estimated its Adjusted EBITDA loss to be in the range $1 million to $1.5 million. BioteQ ended 2014 with an Adjusted EBITDA loss of $929,000. This is a significant improvement from the prior year’s loss, excluding impairment of Bisbee and Dexing IX investments, of $2.3 million and reflects the impact of cost control measures implemented throughout the year.
In terms of BioteQ’s outlook for the upcoming year, the mining sector as a whole continues to be challenging. Metal prices continue to be depressed, several mining companies have announced significant reductions in capital expenditures for the year, and external financial resources for new or developing mines are limited. However, BioteQ believes that its progress in new technology development and the commercial structure BioteQ is proposing to prospective customers is generating increasing interest and awareness in BioteQ beyond its historical sales channels. BioteQ has established relationships with decision makers on water treatment projects that include external consultants, engineering firms and industry associations. BioteQ has also engaged with potential strategic partners that could help accelerate its technology development and can support expanded sales efforts. BioteQ feels that its ongoing efforts will put it in a position to capitalize on opportunities as the mining industry begins reinvesting in water treatment projects.
For 2015, based on current copper prices, foreign exchange rates and project pipeline, BioteQ anticipates its Proportional Revenues to be in the range of $8.0 million to $8.5 million. Its Adjusted EBITDA loss is expected to be in the rage of $400,000 to $700,000.
In 2014, BioteQ made significant progress towards long-term profitability by reducing costs, increasing the amount of copper recovered from our Chinese operations, and rebuilding its sales pipeline.
Over the past year, BioteQ has made significant reductions to the Company’s expenses. The majority of savings was achieved through the reduction in staffing levels which, in management’s opinion, is currently down to the minimum level required for ongoing successful and safe operations while providing for some limited revenue growth in the short-term. The next largest overhead expense category for the company are direct costs associated with remaining a publically listed company. BioteQ anticipates these costs to be approximately $500,000 for 2015. While management is actively reviewing measures to reduce these costs further, any impact will be limited.
In 2015 and beyond, BioteQ will also benefit from a full year of operations at its two new water treatment plants in China. These new plants, along with its existing operations, are expected to provide additional cashflows on a recurring basis. While cashflows from these recurring operations are expected to increase over prior years, they will not be sufficient to solely cover all of the Company’s expenditures. BioteQ will need to continue generating revenues from new projects and contracts to ensure sufficient cash flows to sustain the Company.
The ability to reach profitability in 2015 will depend on the increase in revenue from one time services such as pilot and lab testing, engineering, and/or recurring revenue from new contracts for plant operations or operations support for existing treatment plants outside of the BioteQ’s current portfolio of plants. Since capital spending has been seriously curtailed across the mining industry, it is unlikely that the company will reach profitability in the short-term through projects that involve the construction of new treatment plants. In 2014, BioteQ demonstrated that these revenue sources could be significant but they are also very difficult to predict in terms of timing which gives rise to large fluctuations in the company’s working capital resources. It is for this reason that the company may need to access non-operational sources of capital that would help provide a buffer in working capital.
About BioteQ
BioteQ is a service provider that specializes in treating mining wastewater and specific hydrometallurgical streams with the focus on reducing Life Cycle Costs while achieving compliance and introducing sustainability into water management. We have extensive expertise and operations experience in sulphide precipitation, ion exchange, alkali/lime neutralization and SART process technologies. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore Canada, Freeport McMoran, Jiangxi Copper and the US EPA and is currently operating six plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ 2014 Year End Results Conference Call
March 19, 2015
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of mine impacted waters, will host a conference call on Monday, March 30, 2015 at 11:00 am Eastern to discuss the company’s year-end financial and operating results for the year ended December 31, 2014. The company’s financial statements and management discussion and analysis will be released after market close on Thursday, March 26, 2015 and will be available on www.sedar.com and our website at www.bioteq.ca.
WHAT
2014 Year-End Financial and Operating Results Conference Call – includes introductory remarks by BioteQ’s management team followed by a Q&A period
WHEN
Monday, March 30, 2015 at 11:00 am Eastern
WHO
David Kratochvil, President & Chief Executive Officer
Paul Kim, Chief Financial Officer
WHERE
Conference call dial in access:
North America: toll free at 1-800-505-9568
United Kingdom: toll free at 08002790444
Switzerland: toll free at 0800200345
Participant pass code: 8686176
A replay of the call will be available on BioteQ’s website within two days of the call.
About BioteQ
BioteQ is an innovative clean technology leader in global mine water treatment, serving the mining, metal smelting, refining and hydrometallurgical sectors. The company has commercially proven patented technologies and operational capabilities to help customers achieve compliance with stringent regulations cost effectively while minimizing waste and maximizing water recovery. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore Canada, Freeport-McMoran, Jiangxi Copper and the US EPA and is currently operating six plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Reports Q3 2014 Financial and Operating Results
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of mine impacted waters, releases its financial and operating results for the three and nine months ended September 30, 2014. Further information on the quarterly results can be obtained from the Company's Q3 2014 Quarterly Report which includes the Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis (“MD&A”).
BioteQ will hold a conference call on November 13 at 11:00 AM EDT to discuss results for the quarter. Participants can dial in as follows:
North America: toll free at 800 505 9568
United Kingdom: toll free at 0800 279 0444
Switzerland: toll free at 0800 200 345
Participant pass code: 7130210
As noted at the beginning of 2013, due to changes in Generally Accepted Accounting Standards (“GAAP”), the results of the Company’s joint ventures are accounted for as equity investments in BioteQ’s financial statements. In prior years before 2013, the results of the Company’s joint ventures were accounted for through proportionate consolidation.
To ensure clarity and comparability with historic results, certain statements in this news release and in the MD&A are characterized as BioteQ’s “proportional" share, which means the effective portion of results that BioteQ would have reported if each of its joint ventures had been reported in accordance with past accounting standards. For further details, please see “Non-GAAP Financial Measures” in the Company’s Q3 2014 MD&A.
Q3 2014 Financial Results
The Company has reported strong financial results for the third quarter. Highlights of results include:
Revenues for the quarter as reported under GAAP were $1,722,000 compared to $1,234,000 in 2013, an increase of 40% compared to the prior year;
Proportional revenues for the quarter were $3,341,000 compared to $2,206,000 in 2013, an increase of 51% compared to the prior year;
Adjusted earnings before interest, tax, depreciation and amortization (“adjusted EBITDA”), excluding the impairment of Bisbee investment in 2013, was income of $1,400,000 compared to a loss of $399,000 in the prior year; and
Net income for the quarter as reported under GAAP was $1,166,000 compared to net loss of $2,106,000 in 2013.
Net income and adjusted EBITDA include the impact of one-time gains from our legal settlements with Aditya Birla and NWM Mining.
Other Items
Subsequent to the quarter-end, NWM Mining Corporation (“NWM”) made the final payment of $300,000 towards the legal settlement reach back in April 2012. The recovery of the bad debt was recorded in Q3 2014.
On October 14, 2014, a settlement was reached in BioteQ’s litigation with Aditya Birla (“Birla”). Under the terms of the settlement, BioteQ has paid $73,000 (AUD 75,000) to Birla. Birla has taken ownership of all demobilization obligations and residual plant equipment currently at their Mt. Gordon mine site. Both parties also agreed to release and withdraw their claims against each other. The settlement agreement involves no admission of liability or violation of law by either party, and bars the parties from pursuing further associated claims in the future. For the period ended September 30, 2014, the Company has recognized the settlement payment of $73,000 (AUD 75,000) and reversed the demobilization and other liabilities associated with Mt. Gordon mine site previously accrued. The net gain on the settlement is $49,918.
Water Treatment Operations
In June, BioteQ commenced operations at the Raglan mine site in Quebec. The current operating season is expected to continue until the end of November. BioteQ staff will also be operating a lime treatment plant for water that is not treated by BioteQ’s ChemSulphide® plant. During the quarter, we treated and discharged 743,000 cubic metres of water.
Water treatment operation at the Dexing mine site, a joint venture with mine site owner Jiangxi Copper Company (“JCC”), treated 2.6 million cubic metres of water and recovered a total of 824,000 pounds of copper compared to 2.4 million cubic metres of water treated and 478,000 pounds of copper recovered. The increase in copper recovery was largely due to significantly higher concentrations of copper available in the feed water compared to the prior year. Based on current estimates, BioteQ expects the plant to recover approximately 2.1 million pounds of copper for the year.
New Plants - Joint Venture with JCC
In the current year, BioteQ has completed construction and commissioning of two new copper recovery plants in its Chinese joint venture. The current status of each plant is as follows:
The plant at JCC’s Yinshan mine site began operations in early June. During Q3, the plant processed 640,000 cubic metres of wastewater and recovered 138,000 pounds of copper. Year to date, the plant has treated 900,000 cubic metres of water and recovered 183,000 pounds of copper. The plant is expected to recover approximately 280,000 pounds of copper for the year.
A second copper recovery plant at JCC’s Dexing mine site was commissioned and began operations during Q3. During the quarter, the plant processed 447,000 cubic metres of wastewater and recovered 40,000 pounds of copper. The plant is expected to recover approximately 240,000 pounds of copper for the year.
Sales and New Technology Development
Since the personnel changes announced at the beginning of the year, management has been actively engaging existing and potential new customers to advance joint business opportunities and have been working with several new channel partners to broaden BioteQ’s outreach and capacity to execute projects.
The following is an update on key opportunities in progress:
Selenium Removal - Selen-IXTM
In Q2 2014, BioteQ secured a contract with a Canadian company to conduct pilot scale testing of its Selen-IX™ technology for selenium removal. Under the terms of the agreement, BioteQ has deployed its mobile pilot plant that was built in 2013. The pilot testing will demonstrate the capacity of the Selen-IX™ process to meet stringent discharge limits for selenium and provide engineering design data required for evaluating the overall capital and operating costs of a full scale plant that would treat up to 43,000 m3/day of wastewater. During the quarter, BioteQ continued with piloting and based on preliminary results, have expanded the scope of testing with the client.
The current value of the contract is now approximately $1 million and the pilot campaign is expected to be completed in Q1 2015.
EcoMetales Limited – BioSulphide® Plant Design
In Q2 2014, BioteQ secured a technical services contract with our Chilean strategic partner EcoMetales Limited (“ECL”) for the detailed process engineering of a smelter effluent treatment plant using our BioSulphide® process. The plant removes arsenic from wastewater originating from a smelter operation in Chile. The objective of the project is to reduce the mass and volume of hazardous waste generated, as well as to improve water re-use from the existing process. BioteQ’s work on the project has continued throughout the quarter and expect to be completed by early Q1 2015. Upon completion of the current contract, the client will begin regulatory reviews and approvals for the project and internally assess the feasibility of the proposed plant.
OUTLOOK
While the Company is pleased with its results for Q3, BioteQ expects revenues and cash flow to decline in Q4 2014 and into Q1 2015 as seasonal operation at Raglan concludes, copper recovery plants in China complete annual maintenance and water availability in the region declines, and the current selenium pilot operation concludes.
BioteQ continues to project Proportional Revenues to be in the range of $6.8 million to $7.3 million for the year. In terms of its Adjusted EBITDA forecast, BioteQ expects a significant improvement in the loss for the year. The settlement with Birla has ensured BioteQ will not need to incur significant legal expenditures in Q4 as originally expected. Also, the final settlement payment from NWM has been received. BioteQ now anticipates Adjusted EBITDA loss to be in the range $1 million to $1.5 million, an improvement from our prior range of $2.1 million to $2.6 million.
Over the past quarter, BioteQ has made significant progress in establishing a pipeline of opportunities consistent with the Company’s focus on recurring revenue generating projects. This activity has included offering expanded services that could lead to projects in the future, engaging with new and current customers on future water treatment needs, and opening discussions with new channel and strategic partners. As previously noted, the new sales model being implemented will take time to begin bringing cash flow into the Company and to date, BioteQ has not secured new contracts for completion in the next 3 to 6 months. BioteQ’s near term priority will be on closing projects for this period.
Although the Company believes it can manage its working capital through the next 3 to 6 months, non-operational sources of capital may be required beyond this period.
Q3 2014 Financial Highlights Summary
For a complete set of Financial Statements and Management Discussion and Analysis, please go to www.bioteq.ca
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global mine water treatment, serving the mining, metal smelting, refining and hydrometallurgical sectors. The company has commercially proven patented technologies and operational capabilities to help customers achieve compliance with stringent regulations cost effectively while minimizing waste and maximizing water recovery. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore-Xstrata, Freeport McMoRan, Jiangxi Copper and the US EPA and is currently operating six plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
Now that all the legal matters have been settled lets see what management has up their sleeves. Maybe all that energy can now be put to gaining more projects and working on elevating patent technology.
GLTA & JMO
BioteQ Receives Final Payment From NWM Mining
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2014) -BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of mine impacted waters, is pleased to announce that the final payment of $300,000 has been received from NWM Mining under its legal settlement from April 2012. The total value of payments received under the April 2012 settlement has been $1.3 million.
As a result of the payment, BioteQ will record a one-time recovery of $300,000 in its financial results for the third quarter ending September 30, 2014.
"We are very pleased to close this legal matter. Along with the Aditya Birla settlement announced earlier this month, we have now closed all outstanding legal matters to eliminate the uncertainty of their outcomes, and focus the company on growth going forward. Additionally, the payment also strengthens our short-term working capital position," said BioteQ President & Interim CEO, David Kratochvil.
For more information on the settlement, please refer to the Notes to Consolidated Financial Statements in BioteQ's 2013 Annual Report.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global mine water treatment, serving the mining, metal smelting, refining and hydrometallurgical sectors. The company has commercially proven patented technologies and operational capabilities to help customers achieve compliance with stringent regulations cost effectively while minimizing waste and maximizing water recovery. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore-Xstrata, Freeport McMoRan, Jiangxi Copper and the US EPA and is currently operating six plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website atwww.bioteq.ca for additional information.
BioteQ Settles Litigation with Aditya Birla Minerals
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of mine impacted waters, is pleased to announce that a settlement has been reached in its litigation with Aditya Birla Minerals (“Birla”).
Under the terms of the settlement, BioteQ has agreed to pay $75,000 Australian dollars (approximately $73,000 Canadian dollars) to Birla by October 30, 2014. Birla will take ownership of all demobilization obligations and residual plant equipment currently at their Mt. Gordon mine site. Both parties also agree to release and withdraw their claims against each other. The settlement agreement involves no admission of liability or violation of law by either party, and bars the parties from pursuing further associated claims in the future.
"These legal claims were originally filed in 2010 and relate to matters dating back as far as 2006," said BioteQ President & Interim CEO, David Kratochvil. "With the legal complexity of the charges filed by both parties and the volume of data, information and facts collected, this case has involved substantial time and expense on pleadings, motions and discovery to date. Although we firmly believe we have substantial legal and factual defenses to all of Birla’s claims as well as a strong basis for our counter claim, management and our Board of Directors have determined that a settlement at this time is in the best interests of BioteQ and its shareholders. By eliminating the future expense and uncertainty related to this litigation, the settlement allows us to focus on our strategic initiatives and plans for growth."
As a result of the settlement agreement, BioteQ will record a one-time charge of $75,000 AUD in the third quarter ending September 30, 2014. For more information on the case, please refer to the Notes to Consolidated Financial Statements in BioteQ’s 2013 Annual Report.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global mine water treatment, serving the mining, metal smelting, refining and hydrometallurgical sectors. The company has commercially proven patented technologies and operational capabilities to help customers achieve compliance with stringent regulations cost effectively while minimizing waste and maximizing water recovery. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore-Xstrata, Freeport McMoRan, Jiangxi Copper and the US EPA and is currently operating six plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website atwww.bioteq.ca for additional information.
BioteQ Expands Patent Portfolio with Issuance of Two New Patents and PCT Filing
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of mine impacted waters, has expanded its patent portfolio with the issuance of two new patents from the U.S. Patent and Trademark Office for the company’s proprietary nickel sulphide precipitation and sulphate removal processes, and its filing of a Patent Cooperation Treaty (PCT) for the company’s Selen-IX™ process.
BioteQ’s proprietary nickel sulphide precipitation process, U.S. patent No. 8,747,678 B2, relates to processes to selectively remove nickel from mine impacted waters. BioteQ currently uses the process at its water treatment facility in northern Quebec.
BioteQ’s proprietary sulphate removal process, U.S. patent No. 8,551,340 B2, relates to processes to selectively remove sulphate from hard water waste streams. This process has been used in various testing and piloting projects to date.
BioteQ has also filed application # PCT/CA2014/05096 under the PCT for its Selen-IX™ technology to selectively remove selenium from mine impacted waters and potentially other industrial waste streams. This international filing provides BioteQ with protection for the technology in 148 countries throughout the world and follows the filing of the US provisional patent application in October 2013 which established the invention priority date with the U.S. Patent and Trademark Office. Since the filing of the US provisional application in 2013, the Selen-IX™ technology has been deployed in two pilot scale operations, first with a Canadian metals and mining company in 2013 and currently with another Canadian mining company. The filing of the PCT application enables BioteQ to engage in commercial promotion of the Selen-IX™ technology worldwide while immediately enjoying the protection of its unique intellectual property under the PCT.
“With the issuing of these two new patents and the filing of the PCT application, we have strengthened the patent portfolio for our suite of technologies,” said BioteQ President & Interim CEO, David Kratochvil. “These patents and the filing will support our business development efforts by emphasizing our commitment and capabilities in technology development in strategic areas of the overall mine water treatment market.”
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global mine water treatment, serving the mining, metal smelting, refining and hydrometallurgical sectors. The company has commercially proven patented technologies and operational capabilities to help customers achieve compliance with stringent regulations cost effectively while minimizing waste and maximizing water recovery. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore-Xstrata, Freeport McMoRan, Jiangxi Copper and the US EPA and is currently operating six plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website atwww.bioteq.ca for additional information.
Pershing has been leaning on the ASK lately.
Not sure why. We should be hearing something soon though on progress with the China plants.
200K shares traded today.
Mostly buys from Pershing.
Up 10%+
Q2 2014 Financial Results
·Revenues for Q2 2014 as reported under GAAP were $697,000 compared to $924,000 in 2013, a decline of 25% compared to the prior year;
·Proportional revenues for Q2 2014 were $1,873,000 compared to $2,008,000 in 2013, a decline of 7% compared to the prior year;
·Earnings for the current quarter include a recovery of $300,000 from a bad debt expense originally recognized in 2010;
·Adjusted earnings before interest, tax, depreciation and amortization ("adjusted EBITDA") for Q2 2014 was income of $203,000 compared to a loss of $468,000 in 2013;
·Net loss for the quarter as reported under GAAP was $16,000 compared to a loss of $844,000 in 2013; and
·Cash and short-term investments, including our share held in joint ventures, was $1.9 million compared to $3.2 million at December 31, 2013.
Other Items
During the second quarter, BioteQ further amended the payment terms of its legal settlement with NWM Mining Corporation ("NWM"). Under the amended terms, the final $600,000 balance due June 30, 2014 is now due as follows: $300,000 has been paid and the remaining $300,000 by no later than September 30, 2014. All other terms and conditions remain unchanged.
During the quarter, BioteQ and Aditya Birla Minerals ("Birla") met for court ordered mediation related to lawsuits commenced in 2010. The parties failed to come to an agreement and the litigation continues to be in progress.
Water Treatment Operations
In June, BioteQ commenced operations at its plant at the Raglan mine site in Quebec. The current operating season is expected to continue until the end of October. BioteQ staff will also be operating a lime treatment plant for water that is not treated by BioteQ's ChemSulphide® plant. During the quarter, BioteQ treated and discharged 72,000 cubic metres of water.
Water treatment operation at the Dexing mine site, a joint venture with mine site owner Jiangxi Copper Company ("JCC"), treated 2.6 million cubic metres of water and recovered a total of 681,000 pounds of copper compared to Q2 2013 when BioteQ treated 3.4 million cubic metres of water and recovered 592,000 pounds of copper.
New Plant Construction Update
During the second quarter, BioteQ completed construction and commissioning of one of the two new plants in China with joint venture partner JCC. The second copper recovery plant is in the final stages of commissioning and will commence operations in the third quarter.
The plant at JCC's Yinshan mine site began operations in early June. During the quarter, the plant processed 260,000 cubic metres of wastewater and recovered 44,000 pounds of copper. The plant is expected to recover approximately 450,000 pounds of copper to the end of the year and 900,000 pounds of copper on an annual basis.
A second copper recovery plant at JCC's Dexing mine site is in the final commissioning phase and expected to begin operations later in Q3. Once in operation, the plant is also expected to recover approximately 900,000 pounds of copper on an annual basis.
Sales and New Technology Development
Since the personnel changes announced at the beginning of the year, management has been actively engaging existing and potential new customers to advance joint business opportunities and have been working with several new channel partners to broaden BioteQ's outreach and capacity to execute projects.
The following is an update on key opportunities in progress:
Selenium Removal - Selen-IX™
During the quarter, BioteQ secured a contract with a Canadian company to conduct pilot scale testing of our Selen-IX™ technology for selenium removal. The current value of the contract is $890,000 and work is already under way to allow the pilot plant to begin operating in August and complete the pilot campaign by the end of October 2014.
EcoMetales Limited - BioSulphide® Plant Design
During the quarter, BioteQ secured a technical services contract with its Chilean strategic partner EcoMetales Limited ("ECL") for the detailed process engineering of a smelter effluent treatment plant using our BioSulphide® process.
Consulting Contracts - Latin America
BioteQ has also entered into several small contracts for the supply of technical services to a number of customers and sites across Latin America. The scope of these contracts range from technical feasibility studies, to operational reviews including on-site operations assistance, and laboratory testing. While the financial amounts to be received from these contracts are limited, BioteQ has performed rigorous screening of the sites and customer requirements to ensure a long-term strategic fit with the new business strategy, and as a result BioteQ is optimistic that these service contracts will prove to be a catalyst for larger contracts in the future.
OUTLOOK AND GOING CONCERN
As previously noted, the new sales model being implemented by management will take time to begin bringing cash flow into the Company. This shortfall in near term sales has brought working capital resources to lower than expected levels. In recent months, BioteQ has completed various short-term measures to manage working capital through the next three to six months including: a repatriation of funds from our Chinese joint venture, receipt of funds from our legal settlement with NWM Mining, and cost deferrals and reductions. Although the Company believes it can manage its working capital through this period, non-operational sources of capital may be required beyond this period.
For the current fiscal year, BioteQ projects Proportional Revenues to be in the range of $6.8 million to $7.3 million. BioteQ projects Adjusted EBITDA loss to be in the range of $2.1 million to $2.6 million. In the prior year, BioteQ had Proportional Revenues of $7.6 million and an Adjusted EBITDA loss of $2.3 million. The current year's forecast include the impact of significant one-time restructuring costs and provisions incurred in the first quarter. Projections also include anticipated earnings from two new plants in China as well as successful completion of the selenium removal piloting contract recently awarded.
David Kratochvil, President & Interim CEO, said, "Our results for the second quarter are beginning to reflect the impact of cost savings through internal restructuring and our new sales model and strategy to rebuild our sales pipeline. This, in combination with the working capital initiatives implemented earlier in the year have stabilized our short-term financial position. We intend to carry this momentum to ultimately generate long-term, sustainable, profitability for the company."
Copper prices moving upward should bode well for BQE earnings.
Teck Resources should also see some investment in copper recovery. Hopefully Selenium treatment too.
Lets get BQE going. Enough is enough.
GLTA
More decent buying today. Bid up to .045 and ASK at .05
Hoping for more news and positive follow-through.
GLTA
A wee bit of appreciation in PPS and volume.
Nice to see. Now lets follow that up with something meaty and get this rocket off the launch pad.
BioteQ Awarded Contract for Selenium Removal Piloting
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 10, 2014) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of mine impacted waters, has secured a contract with a Canadian company to conduct pilot scale testing of its Selen-IX™ technology for selenium removal. Under the terms of the agreement, BioteQ will once again deploy its mobile pilot plant that was built in 2013 for the first demonstration campaign with another major mining company. The pilot testing will demonstrate the capacity of the Selen-IX™ process to meet stringent discharge limits for selenium and provide engineering design data required for evaluating the overall capital and operating costs of a full scale plant that would treat up to 43,000 m3/day of wastewater.
The current value of the contract is $890,000 CDN and work is already under way to allow the pilot plant to begin operating in August and complete the pilot campaign by the end of October 2014.
David Kratochvil, President and Interim Chief Executive Officer at BioteQ commented, "We are very pleased with the interest from the mining industry to evaluate our Selen-IX™ process as a treatment option for some of the most challenging issues related to selenium in mine wastewater, and we are excited about opportunities such as this to deploy our fully integrated and automated mobile pilot plant on new streams."
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global mine water treatment, serving the mining, metal smelting, refining and hydrometallurgical sectors. The company has commercially proven patented technologies and operational capabilities to help customers achieve compliance with stringent regulations cost effectively while minimizing waste and maximizing water recovery. Over the past decade, BioteQ has designed and commissioned plants at mine sites for leading organizations including Glencore-Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA and is currently operating four plants under long-term contracts. These plants remove dissolved metals and sulphate to well below the required regulatory discharge limits while reducing or eliminating the production of waste sludge and/or recovering valuable metals from waste streams for sale which reduces the life cycle cost of water treatment. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
I sure hope so. A few years ago I bought 500 shares of this at 0.838 and it has tanked pretty spectacularly. I'm 95% down; at this point just holding onto the shares because it would cost more in commission to sell them than they're even worth!
The first group of stocks I'd ever bought were definitely a solid lesson in not buying high ;)
BioteQ Reports Director Election Results at AGM
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 14, 2014) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial wastewater treatment, today reported that all nominees listed in the management proxy circular dated April 3, 2014 were elected as directors of BioteQ at its annual general meeting of shareholders (AGM) held on May 13, 2014.
According to the proxies, a total of 23,769,761 common shares were voted at the meeting, representing 25.3% of the votes attached to all outstanding shares. Shareholders voted in favor of all items of business, including the election of all director nominees as follows:
The directors were elected to hold offices until the next AGM or until their successors are elected or appointed. Detailed voting results for the meeting are available on SEDAR at www.sedar.com.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company's proven technologies have been applied at sites around the world to recover dissolved metals and remove sulphate, producing clean water and eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
Copper up today.
Lets hear the numbers and the CC tomorrow. Not expecting anything earth shattering but would be nice to get some positive notes.
GLTA
With water treatment coming to the forefront of green tech BQE should make hay while the sun is shining. We need to close a few of those deals with major players and get this rocket off the launch pad.
Lets see what David K. can do.
GLTA
Copper prices are improving. This should help BQE's top-line revenues.
If Copper could ever find away to get above $4 it would make profitability here very likely based on copper sales alone.
Hopefully an update on the China plants which are now operating and a few new deals or developments with the Teck pilots.
BioteQ Q1 2014 Results Conference Call
BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial
wastewater treatment, will host a conference call on Thursday, May 15th, 2014 at
11:00 am Eastern to discuss the company's Q1 2014 financial and operating
results for the quarter ended March 31, 2014. The company's financial statements
and management discussion and analysis will be released after market close on
Wednesday May 14th, 2014 and will be available on www.sedar.com and our website
at www.bioteq.ca.
WHAT
Q1 2014 Financial and Operating Results Conference Call - includes
introductory remarks by BioteQ's management team followed by a Q&A period
WHEN
Thursday, May 15th, 2014 at 11:00 am Eastern
WHO
David Kratochvil, Interim Chief Executive Officer
Paul Kim, Chief Financial Officer
WHERE
Conference call dial in access:
North America: 1-416-644-3415 or toll free at 1-877-974-0445
United Kingdom: 44-20-7190-1595 or toll free at 0800-358-5256
Switzerland: 41-22-592-7311 or toll free at 0800-560-749
Participant pass code: 4682671
A replay of the call will be available on BioteQ's website within two days of
the call.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned
wastewater treatment plants at mine sites for leading organizations including Glencore Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium,
producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE.
Please visit our website at www.bioteq.ca for additional information.
FOR FURTHER INFORMATION PLEASE CONTACT:
BioteQ Environmental Technologies, Inc.
Suite 1000 - 1050 West Pender Street
Vancouver BC Canada V6E 3S7
BioteQ Environmental Technologies, Inc.
David Kratochvil
President & Interim CEO
604.685.1243 or 1.800.537.3073
dkratochvil@bioteq.ca
Up 27% on high volume today after the announcement.
BioteQ Announces Board and Management Changes
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Feb 6, 2014) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial wastewater treatment, announces a number of Board and Management changes.
David Kratochvil, previously BioteQ's President and Chief Technology Officer, will rejoin the Company in the capacity of Interim Chief Executive Officer commencing March 1st, 2014. David's previous experience with BioteQ's technologies will be well known to most shareholders. The BioteQ Board is very pleased to welcome him back in a senior role with the Company.
For personal reasons, George Poling will step down from his capacity as Board Chair, although he will remain on the BioteQ Board. The Company would like to thank George for his many years of stewardship as Board Chair and appreciate him agreeing to continue on as a Board Director.
Peter Gleeson will step up from his previous role as a non-executive member of the Board and will assume an executive management role as Executive Chairman.
Given David's return to BioteQ and the decision to create the role of Executive Chair, the current Chief Executive Officer, Jonathan Wilkinson, will step down from his positions as CEO and Board member. The Board would like to thank Jonathan for his service in these roles.
The changes being announced today are part of a plan that will include renewed emphasis on the development and provision of innovative technical solutions for the mining sector. The plan will also focus on reductions in the Company's cost structure where feasible.
Jonathan will remain with BioteQ in the capacity of Chief Executive Officer until February 28th, 2014 to enable a managed, orderly and effective transition.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoRan, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BQE:
Taseko Mines Limited – New Prosperity Copper Mine
While this Taseko and the Seabridge KSM Project are only proposed water quality mitigation plans submitted as part of project proposals, which may or may to come to be, they do show Bioteq is a recogonized supplier of water quality mitigation technology. The Seabridge research actually appears to be what led to the Teck selenium pilot plant.
http://www.ceaa-acee.gc.ca/050/documents/p63928/89851E.pdf
The research testwork and results on selenium removal conducted at BioteQ and overseen by Rescan and funded by Seabridge has led Teck Corporation to fund a full scale pilot plant for the Elk River in Southeast British Columbia.
http://ksmproject.com/wp-content/uploads/2013/08/Screening-Comments-Response-Combined_EAO-review-June-19_Final.pdf
BioteQ Successfully Completes Rights Offering
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Jan 24, 2014) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial wastewater treatment, today announced that it has successfully completed its previously announced rights offering (the "Offering") as scheduled.
BioteQ has issued approximately 24 million common shares under the Offering at a price of $0.05 per Rights Share, for gross proceeds of $1.2 million. The Company intends to use the net proceeds from the rights offering for working capital, development and other sales and general administrative expenses.
Leadership in International Trade: Asia-Pacific
BioteQ Environmental Technologies’ relationship with the Chinese mining industry continues to deepen. In August it announced it would co-operate with Jiangxi Copper Co.—China’s largest copper producer—on constructing the third in a lineage of mine wastewater treatment plants that would not only cleanse water but recover metals borne in the effluent.
The Vancouver company has built a name for itself in China and throughout the world with both its proprietary technology but also in the ways it does business. CEO Jonathan Wilkinson says that BioteQ enables the recovery of metals from mining waste. Traditional environmental solutions don’t recover the metals, and they leave behind a metal-laden toxic sludge which, as Wilkinson says, “creates its other environmental issues.”
The second second difference is how it makes its solutions available. It can either be sold as a system that mining companies can use on their own, but BioteQ also makes financing available so it can partner with customers to bring environmental solutions to a program. “Many technology companies don’t provide this,” he adds.
For its unique capabilities BioteQ, has been chosen as a finalist in the 2013 HSBC International Business Awards for Leadership in International Trade in the Asia-Pacific region. BioteQ has received this honour before: in 2010 it also finalled in the awards program’s inaugural year.
In the past 13 years, BioteQ has designed and in many cases, continues to operate, water treatment plants in Canada, the U.S., Mexico, Australia, Turkey and China for such clients as Capstone Mining, Xstrata, the U.S. Environmental Protection Agency as well as Jiangxi Copper.
The Jiangxi projects have seen BioteQ putting up half the capital to build a remediation system as well as the technology. Jiangxi provides the rest of the capital and the water that needs remediating. “We’ve recovered copper, nickel and cobalt, and usefully sell that and attain profits from that,” Wilkinson says. BioteQ shares revenues from those sales with Jiangxi, which will vary with the price of copper and the amount of copper in wastewater. But it estimates that both companies will share in $2.4 to $2.8 million in proceeds annually, turning a former mining liability into a new source of income.
He allows that not all contaminated water streams have commercially recoverable amounts of metal, but the Chinese project has proven lucrative. A recovery plant at Raglan, Quebec that BioteQ runs for Xtrata Nickel recovers only small amounts of nickel, which Xtrata retains and that firm pays BioteQ an operating fee. Operating costs for treating wastewater at the extreme northern mine dropped by half after BioteQ began using its proprietary ChemSulphide process.
Treatment approaches vary depending on the unique needs of each site and have to take into account water flow, water chemistry, and treatment intentions. Among its approaches are the abovementioned sulphide process to capture metals, lime treatment, ion exchange methods and sulphidization-acidification-recycle-thickening for recovering gold. BioteQ serves not only the mining industry but also the power generation and oil and gas sectors.
The firm is the brainchild of former CEO Brad Marchant, a process engineer who saw an way to recover metals from mining wastewater treatment. He and some colleagues created a commercially viable method for achieving this and they founded BioteQ in 1998. (Marchant has since left BioteQ to work on another company with an environmental focus: Enterra Feed Corporation.)
As the company grew so did increasingly stringent environmental regulations that obliged the mining industry reduce the amount of effluents from its projects. In turn, mining companies sought out cheaper ways of handling their post-mining liabilities, especially tailings ponds and wastewater. Miners must segregate post mining wastewater and the contaminants it bears in tailings ponds, which are expensive to build and must be maintained in perpetuity. If they could reuse the water or discharge it in a highly purified form they would reduce their costs while meeting regulatory targets. BioteQ has proven so adept at its technology, that in 2009 it treated 7.9 billion litres of wastewater, and removed 2.2 million pounds of metals. Its plants range in capacity from 840 cubic metres a day to 24,000 cubic metres a day.
Much of BioteQ’s business is in China and that has presented its own special set of lessons. “There’s a whole number of challenges you have to work through before you start working in China,” Wilkinson says. Companies need to really understand what they want to focus on in that country and then assess how they’re going to make a viable business there. That requires a Chinese partner firm that “actually fits” your business model and your ambitions for it.
It also requires adapting to the local milieu. “You cannot go into China without building a Mandarin-speaking capability in your organization,” Wilkinson says. “You can’t go into China without expecting to have feet on the ground or the understand that you’re going to have people going over their regularly to ensure you’re advancing your interests with your partner and with your customers. Do your homework, find your partner then build your capabilities and execute, execute, execute. It’s not a simple thing to do.”
https://globalconnections.hsbc.com/canada/en/special-features/hsbc-international-business-awards/meet-the-winners/winner-article-bioteq
Time to get my full allotment. :)
BioteQ Files Final Prospectus for $1.2M Rights Offering
VANCOUVER, BRITISH COLUMBIA -- (Marketwired) -- 12/10/13 -- BioteQ Environmental Technologies Inc. (TSX: BQE), a leader in industrial wastewater treatment, has filed its final short form prospectus in respect of a rights offering (the "Offering"). Under the Offering, BioteQ expects to raise gross proceeds of approximately $1.2 million. The proceeds from the Offering will be used to fund operating expenses and other general working capital needs as the company progresses towards its target of becoming cash flow positive from operations in the second half of 2014.
Under the terms of the Offering, registered shareholders of record as of December 20, 2013 (the "Record Date") who are resident in qualifying jurisdictions ("Eligible Shareholders") will receive rights to subscribe for common shares ("Rights Shares") in the capital of BioteQ. Eligible Shareholders will receive one right for each common share held as at the Record Date. Each whole right entitles an Eligible Shareholder to acquire 0.34302 Rights Shares (meaning that the exercise of every 2.915 rights will entitle the holder to acquire one whole Rights Share) at a price of $0.05 per each whole Rights Share prior to January 21, 2014 (the "Expiry Date").
In support of the Offering, the Company has entered into a standby purchase agreement with Mr. Richard Hubbard ("Hubbard"), a shareholder of the Company, under which Hubbard has agreed to exercise his rights to acquire Rights Shares pursuant to the Offering, and to purchase from the Company any Rights Shares that are not otherwise subscribed for by other shareholders under the Offering (the "Standby Shares").
In consideration for Hubbard agreeing to subscribe for the Standby Shares, Hubbard will be entitled to a cash fee at the closing of the Offering equal to 4% of the gross proceeds of the Offering, being $48,000, and warrants to purchase an additional number of Common Shares equal to 4% of the total number of Rights Shares to be issued under the terms of the Offering, being 685,714 Common Shares (the "Standby Fee"). The warrants are exercisable for a two year period at an exercise price of $0.07 per Common Share. Hubbard is entitled to the Standby Fee regardless of the number of Standby Shares that he actually purchases pursuant to the Offering. Shareholders should refer to the final prospectus in respect of the Offering dated December 10, 2013 (the "final prospectus") for further details regarding Hubbard's standby commitment and his resulting shareholdings in BioteQ.
The Offering is being made to shareholders in all provinces of Canada, other than Quebec, and shareholders in the United Kingdom and Switzerland. Shareholders in other jurisdictions ("Ineligible Shareholders") will not receive rights, which will instead be issued to Computershare Trust Company of Canada, as subscription agent for on and behalf of the Ineligible Shareholders, and sold for the benefit of such Ineligible Holders, as described in greater detail in the final prospectus. Ineligible Holders will be mailed a letter with instructions on how they may request to receive and exercise their rights, if, in the Company's sole discretion, such Ineligible Holders are qualified to do so in reliance on exemptions from the prospectus or registration requirements of their local jurisdictions, as described in greater detail in the final prospectus.
Beneficial shareholders who hold Common Shares through a securities dealer, broker, bank, trust corporation or other nominee (a "Participant") will not receive a rights certificate and will need to contact their Participant in order to exercise their rights. Beneficial Shareholders should contact their Participant to determine how their Rights may be exercised well in advance of the Expiry Date to confirm what steps are required. Participants may have an earlier deadline for receipt of instructions and payment than the Expiry Date.
Further details concerning the rights offering are contained in the final prospectus, which has been filed on SEDAR at www.sedar.com.
The Offering remains subject to the final approval of the Toronto Stock Exchange.
The Offering is not an offering of Rights or Rights Shares for sale in any jurisdiction other than the Eligible Jurisdictions. The Rights and Rights Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "US Securities Act"). This news release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities described herein. Such securities may not be offered or sold in the United States absent registration under the US Securities Act and applicable state securities laws, or absent an available exemption from such registration requirements.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Releases Results for Q3 2013
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in industrial wastewater treatment, releases its financial and operating results for the third quarter ended September 30, 2013. Further information on the third quarter results can be obtained from the Company's Q3 2013 Unaudited Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis (“MD&A”).
BioteQ will hold a conference call on November 14, 2013 at 11:00 AM EDT to discuss results for Q3 2013. Participants can dial in as follows:
North America: 1-416-644-3415; 1-877-974-0445 (toll free)
United Kingdom: 44-20-7190-1596; 0800-358-5256 (toll free)
Switzerland: 41-22-592-7311; 0800-560-749 (toll free)
Participant pass code: 4647657
As noted at the beginning of 2013, due to recent changes in Generally Accepted Accounting Standards (“GAAP”) effective Q1 2013, the results of the Company’s joint ventures will be accounted for as equity investments in BioteQ’s current and future financial statements. In prior years, the results of the Company’s joint ventures were accounted for through proportionate consolidation.
To ensure clarity and comparability with historic results, certain statements in this news release and in the MD&A are characterized as BioteQ’s “proportional" share, which means the effective portion of results that BioteQ would have reported if each of its joint ventures had been reported in accordance with past accounting standards. For further details, please see “Non-GAAP Financial Measures” in the Company’s Q3 2013 MD&A.
Q3 2013 Financial Results Proportional Revenue for the three months ended September 30, 2013 was $2.2 million compared to $2.8 million in Q3 2012. The decrease was due to lower volumes of copper recovered at the Bisbee and Dexing operations and lower market prices for copper;
Proportional gross margins for Q3 2013, which include BioteQ’s share of joint venture activities, were $932,000 compared to $1.2 million in Q3 2012. The decrease was also largely due to lower volumes of copper recovered at the Bisbee and Dexing operations and lower market prices for copper;
Revenue as reported under GAAP was $1.2 million in Q2 2013 compared to $1.4 million in Q3 2012. Gross margins as reported under GAAP were $701,000 in Q3 2013 compared to $660,000 in Q3 2012;
Net loss for the quarter was $2.1 million in Q3 2013 compared to net loss of $1.3 million in Q3 2012;
Comprehensive loss for Q3 2013 was $2.3 million compared to comprehensive loss of $1.5 million in Q3 2012;
Subsequent to the end of the quarter, BioteQ announced that the copper recovery facility in Bisbee, Arizona had been furloughed (see Bisbee Operation section below for further details). As a result, the current quarter reflects the impact of a full impairment of the carrying value of BioteQ’s investment in the Bisbee joint venture of $1.4 million. This write down has a non-cash impact on results for the current period;
Adjusted EBITDA for the quarter was ($1.8) million compared to ($872,000) in Q3 2012. Excluding the impairment of the Bisbee joint venture, adjusted EBITDA for Q3 2013 was ($399,000); and
At the end of Q3 2013, total cash, including restricted cash, and short term investments held by the Company outside of its joint ventures was $1.9 million. In addition, BioteQ’s proportionate share of cash and short term investments held in joint ventures was $ 2.6 million. Combined, total cash, including restricted cash, and short term investments was $4.5 million.
Operational Results The Dexing, China operation recovered approximately 478,000 pounds of copper and treated 2.4 million cubic metres of water during the third quarter. Year to date, the plant has recovered 1.6 million pounds of copper and treated 8 million cubic metres of water. In Q3 2012, the plant recovered 716,000 pounds of copper and treated 2.9 million cubic metres of water. In 2012 year to date, the operation recovered 1.8 million pounds of copper and treated 7 million cubic metres of water.
During the third quarter, the Raglan plant treated and discharged 645,000 cubic metres of water. Year to date, the operation has treated and discharged 700,000 cubic metres of water. In Q3 2012, the operations treated and discharged 562,000 cubic metres of water. In 2012 year to date, the operation the operations treated and discharged 623,000 cubic metres of water.
As previously announced in the Company’s press release dated November 11, 2013, BioteQ announced that the copper recovery facility in Bisbee, Arizona had been placed on furlough. BioteQ and its joint venture partner, Freeport-McMoRan Copper & Gold (“FMI”), have further agreed that the plant shall not restart under the existing operating arrangement.
New Plants - Update
The Company is currently completing construction of three new, previously announced water treatment plants with joint venture partner Jiangxi Copper Company (“JCC”) in China. At JCC’s Dexing Mine site, the nickel/cobalt recovery ion exchange plant is expected to be fully commissioned during the fourth quarter of 2013. Also at the Dexing site, a second copper recovery plant is expected to be completed by Q2 2014. At JCC’s Yinshan mine site, a new copper recovery plant is expected to be completed by Q2 2014.
Collectively the three new Chinese plants represent significant financial and personnel investments by BioteQ in 2013. However, while these plants create only costs for BioteQ in 2013, they will add significant revenues to the company’s recurring revenue base in 2014 and beyond. Collectively these three plants are expected to add approximately $2.5 million to BioteQ’s Proportional Revenues in 2014 and approximately $3.0 million in 2015 and beyond.
Selen-IX™ Technology Developments and Teck Project Update
Over the past 18 months, BioteQ has been developing an ion exchange process to remove selenium from mine impacted water streams. BioteQ views the selenium removal market as a significant near term opportunity in Canada and the United States.
In recent years regulators in both Canada and the US have become increasingly concerned with selenium discharge. Both Canada and the US are examining the implementation of significantly more stringent water quality guidelines relating to selenium. There has also been a trend in both countries towards mine permits tightening selenium limits or adding selenium to the list of regulated elements.
Key developments for the Company with regard to Selen-IX™ over the past 9 months have included: In March 2013, Company was awarded funding under the Industrial Research Assistance Program of Canada to help defray some of the development costs we have been investing in the development of this new technology;
In May 2013, the Company secured a $900,000 contract from Teck Resources Limited (Teck) to conduct lab and pilot scale testing for selenium removal. Under the terms of the agreement, the Company committed to construct and deploy a pilot scale plant for on-site field testing. BioteQ will retain ownership of the pilot plant and all associated intellectual property;
Near the end of Q3 2013, BioteQ completed design and construction of a selenium removal pilot plant and deployed it to a Teck site to conduct pilot scale testing. These pilot operations are currently in progress and are expected to conclude in early December. Upon completion of the pilot campaign, results will be analyzed with the customer and next steps will be determined; and
In October 2013, BioteQ filed provisional patent application # 61888908 with the United States Patent and Trademark Office titled “Selective Removal of Dissolved Selenium from Aqueous Solutions”.
The BioteQ Selen-IX™ technology is presently still in the pre-commercial phase. BioteQ is however devoting very significant resources to the development and furtherance of this platform. BioteQ believes that the emerging selenium removal market is significant and will eventually be very large. BioteQ believes that the drivers for solution implementation are strong and that the Company’s technology, once technically proven, will offer an extremely compelling value proposition to prospective customers.
Outlook
The business environment in the mining industry over the past 6-8 months has been a challenging one. As was noted in the discussion of our Q2 results, this has had its impact on BioteQ in at least a couple of ways: The recent decline in metal prices has impacted the financial performance of BioteQ’s copper recovery operations; and
significant constraints that have been imposed on capital spending by mining companies have resulted in the cancellation or delay of several projects on which BioteQ had been actively working and have resulted in a significant slowdown in new project development more generally.
These factors coupled with recent the shutdown of the Bisbee operation have had an impact on BioteQ’s expectations for 2013. In August 2013, BioteQ had indicated that proportional revenue for the year would be in the range of $8.5 million to $9.5 million and adjusted EBITDA for the year to be in the range of ($1.5 million) to ($2 million).
The shut down and furlough at Bisbee has reduced revenue expectations by approximately ($400,000) and adjusted EBITDA expectations by ($300,000) for the year. This, coupled with continuing slow sales volumes have caused the Company to revise guidance ranges to: Proportional Revenue: to be in the range of $7.5-$8 million; and
Adjusted EBITDA: to be in the range of ($3.5) million to ($4) million – including the impairment associated with the Bisbee plant. Excluding the impact of the impairment on our Bisbee joint venture investment, our adjusted EBITDA loss will be in the range of ($2.1 million) to ($2.6 million).
While the general downturn in the mining industry and the recent issues at the Bisbee facility have tempered BioteQ’s expectations regarding its 2013 financial results, the company remains very positive regarding prospects for 2014 and beyond. Specifically: Within the next 12 months, BioteQ will have operational three new recurring revenue generating assets which will bring the Company’s recurring revenues (excluding any revenues from Bisbee) to approximately $7-7.5 million/year from the current level of approximately $5 million/year. Note that while the Bisbee facility furlough will have an impact on revenues going forward it will have no impact on cash flow and adjusted EBITDA figures in 2014 and beyond;
The work that BioteQ has been doing over the past 18 months relating to selenium removal is progressing rapidly. BioteQ recently filed a relevant patent application and the pilot plant that it has built and sent to a Teck site has been performing well in the field. The market opportunity for this technology appears to be large and the value proposition – assuming continuing strong technical performance – appears to be highly attractive;
BioteQ’s sulphate removal technology is also moving rapidly into the commercial realm. The mobile Sulf-IX™ pilot plant that was built by BioteQ and is now owned by Newalta has completed a second set of tests at a prospective customer site in the US. BioteQ expects a decision by the customer with respect to next steps in the new year;
While the overall market for metals recovery and removal systems has been slow of late, BioteQ is continuing to see significant demand in a few areas – most particularly relating to SART. The company is progressing discussions relating to a SART project in Eastern Europe and is also engaged in discussions and test work relating to a number of other potential SART prospects; and
In Q3 we saw progress associated with internal G&A measures we have recently implemented. We intend to continue to optimize corporate cost control going forward.
The various developments noted above make us confident that the company will in fact achieve a position of being cash flow from operations positive commencing in the second half of 2014. This would represent an enormous step forward for the company towards a future in which the company will begin to generate positive cash flows on a consistent and sustainable basis. However, it should also be noted that given the seasonality of cash flows through the fourth quarter of 2013 and the first quarter of 2014 – when some seasonal facilities do not operate and when the new Chinese facilities are not yet on stream – the company will need to carefully manage its working capital balances, review and mitigate costs where necessary, and explore options to provide financial flexibility for the company until cash flows increase in the second half of 2014.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Environmental Technologies Inc.: Bisbee Plant Furlough
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 8, 2013) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial wastewater treatment, announces that the copper recovery facility in Bisbee, Arizona has been placed on furlough. BioteQ and its joint venture partner, Freeport-McMoRan Copper & Gold, have further agreed that the plant shall not restart under the existing operating arrangement.
The Bisbee plant applies BioteQ's patented BioSulphide(R) process technology to remove copper from wastewater at a closed mine site. The Bisbee water treatment facility is a 50/50 joint venture between BioteQ and Freeport-McMoRan Copper & Gold ("FMI").
In September 2013 BioteQ announced that operations at the Bisbee plant had been suspended. Unusually high levels of rainfall in the area during July and August had necessitated the plant being placed in idle mode. In mid-August while the plant was in idle mode, it encountered operational and process issues that led to a gas release event.
BioteQ subsequently conducted an investigation into the root causes of this release. The investigation revealed that a partial blockage in a pipe at the plant and the concurrent failure for a short duration, of a seal mechanism led to gas being released.
BioteQ has evaluated the merits of making required changes to the plant and restarting operations. Relevant matters to making a decision include:
-- The volume of solution being treated by the plant and the amount of copper being recovered has been declining since 2008. This decline in solution being processed plus a concurrent decline in copper grade has resulted in poor financial returns from the facility. -- In the five fiscal years between 2009 and 2013, the Bisbee facility has generated positive cash flow on an annual basis only once:
(BioteQ 50% share) 2009 2010 2011 2012 2013 YTD
Net Operating Cashflow $ (45,000) $ (36,000) $(152,000) $ 96,000 $ (76,712)
If the plant were to continue to operate, it is highly likely that over the next 12 to 24 months the volume of solution being fed to the plant would continue to decline. Even if the volume of solution were to remain constant, the plant would continue to struggle to achieve a cash positive position.
Given that the plant would not generate positive cash flow if the plant were in operation over the next 24 months, BioteQ has decided to furlough the Bisbee plant for an indefinite period.
The parties plan to monitor ongoing developments at the site. The plant will remain in furlough until a decision is made regarding the future of the plant.
With the plant not generating positive cash flow, the decision to furlough the plant will not impact BioteQ's adjusted EBITDA results in 2014 and beyond but will impact the revenues generated by the company. The shutdown and furlough of the Bisbee facility will however, have a material impact on 2013 results. BioteQ estimates this impact to be:
-- A reduction in forecasted proportional revenue figure of approximately $400,000 for the year, and; -- An increase in adjusted EBITDA loss forecast for the year of approximately $300,000 as a result of costs associated with labour at site during the plant shutdown and during the root cause investigation.
In addition, BioteQ will need to recognize an impairment charge for the carrying value of BioteQ's investment in the Bisbee joint venture for the full value of $1.4 million. This figure will be reflected in our Q3 net income and in adjusted EBITDA results.
Jonathan Wilkinson, BioteQ's Chief Executive Officer stated, "The decision to furlough the Bisbee plant was a difficult one given that it has operated successfully from a technical perspective for almost 10 years. However, because financial results generated by the plant in the past five years have been poor and because we know these results will not improve in the near future, the decision to furlough the operation at this time is in the best interests of both joint venture partners."
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoRan, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Secures Contract Extension at Raglan Mine
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 11, 2013) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial wastewater treatment, has secured a three year contract extension for water treatment services at the Glencore Raglan Mine site. BioteQ designed and operates two nickel removal plants applying its proprietary technologies - a ChemSulphide(R) plant owned by BioteQ and a Met-IX(TM) plant owned by Glencore - to treat mining effluent for environmental compliance. In addition, BioteQ also provides operating services to Glencore for an adjacent lime treatment facility. BioteQ has been providing operating services at the Raglan site for the past 10 years.
Jonathan Wilkinson, BioteQ's Chief Executive Officer stated, "We are pleased to have reached an agreement with Glencore to extend the current operating agreement. We have had a very positive and productive relationship with the Raglan site over the past decade and we look forward to continuing with and building on this collaboration going forward."
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company's proven technologies have been applied at sites around the world to recover dissolved metals and remove sulphate, producing clean water and eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Wins HSBC Leadership in International Trade: Asia-Pacific Award
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Nov. 8, 2013) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial wastewater treatment, has won the HSBC Leadership in International Trade --Asia-Pacific Award which was presented at a gala celebration held at The Carlu in Toronto on the evening of Thursday, November 7, 2013. The HSBC International Business Awards program honours Canadian companies that have successfully branched out beyond our borders.
"A key driver for upcoming economic growth in Canada will come from rising exports, and Asia-Pacific figures prominently in the regions to grow in importance," said Linda Seymour, Executive Vice President, Head of Commercial Banking and Regional President, Central and Eastern Canada, HSBC Bank Canada. "Through proper treatment of wastewater for re-use or safe discharge to the environment, BioteQ Environmental Technologies demonstrates their commitment to sustainability and to the places we live and work."
Jonathan Wilkinson, BioteQ's CEO credits its strong joint venture partner in China and its proprietary process technologies for the company's ability to become a successful Cleantech exporter to the Asian market. "We thank Jiangxi Copper Company for being a wonderful business partner who share our desire to implement forward-thinking environmental practices. Jiangxi is the largest copper producer in China and since 2006, we have been working to improve water treatment practices at their mine sites. The first joint metals removal plant came online in 2008 and we have three additional projects that will be operational by the first half of 2014. This partnership has been successful financially and has provided significant and measurable positive impacts for the local environment. We are proud of our ability to succeed abroad and believe our ability to provide process technology solutions that create both economic and environmental benefits makes us quite distinctive in the mining space."
Applicants for the HSBC International Business Awards program must be majority Canadian owned; headquartered in Canada; generate at least 10 per cent of revenues from outside Canada; and achieved a minimum of C$5 million in sales for the last two fiscal years. Entries were reviewed for technical and business merit by an independent panel of international business experts from Canadian Business, Canadian Manufacturers and Exporters, Export Development Canada, the Economist Intelligence Unit, the Desautels Faculty of Management at McGill University and the Sauder School for Business at the University of British Columbia. Other winners of the 2013 HSBC International Business Awards included: OPAL-RT Technologies, Canfor Corporation, Energold Drilling Corp and Bassett & Walker International, Inc.
About the HSBC International Business Awards
The HSBC International Business Awards is an important awards program that honours Canadian firms that have successfully brought their products and services to the world. The Awards are bestowed in the following categories: International Business of the Year, Small and Medium Enterprise; International Business of the Year, Large Enterprise; Leadership in International Trade in Asia-Pacific; and Leadership in International Trade in Latin America.
About HSBC Bank Canada
HSBC Bank Canada, a subsidiary of HSBC Holdings plc, is the leading international bank in Canada. With around 6,600 offices in over 80 countries and territories and assets of US$2,723bn at 30 September 2013, the HSBC Group is one of the world's largest banking and financial services organizations.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ to Host Conference Call Regarding Q3 2013 Operating and Financial Results
VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of industrial industrial water and process solutions, will host a conference call on Thursday, November 14th, 2013 at 11:00 am Eastern to discuss the Company’s third quarter financial and operating results for the period ended September 30, 2013. The Company’s financial statements and management discussion and analysis will be released after market close on Wednesday, November 13th, 2013 and will be available on BioteQ’s website at www.bioteq.ca.
WHAT: Q3 2013 Operating and Financial Results Conference Call will include introductory remarks by BioteQ’s management team, followed by a question and answer period.
WHEN: Thursday, November 14th, 2013 at 11:00 am Eastern
WHO: Jonathan Wilkinson, Chief Executive Officer
Paul Kim, Chief Financial Officer
WHERE: North America: 1-416-644-3415; 1-877-974-0445 (toll free)
United Kingdom: 44-20-7190-1596; 0800-358-5256 (toll free)
Switzerland: 41-22-592-7311; 0800-560-749 (toll free)
Participant pass code: 4647657
A replay of the call will be available on the BioteQ website within two days of the call.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ SART Projects Update
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Oct. 22, 2013) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in the treatment of industrial wastewater, will commence a SART testing project with a European engineering firm for a gold mine in Central Asia. Field-based test work and engineering services for the SART feasibility study will be carried out in Q4 2013. The test results will be used as the basis for discussions relating to the build of a full-scale SART plant. Previously announced in July 2011, the project had been delayed due to metallurgical plant upgrades at the site.
The dollar value of this contract will have only a modest impact on 2013 financial performance. However, assuming successful results, this work could lead to the provision of a full-scale SART plant by BioteQ and its European engineering partner.
In addition, BioteQ has also signed a SART testing contract relating to a project in Chile with a major mining company. Work under this contract will be performed in BioteQ's Vancouver laboratory facilities. The bulk of the work under this contract will be performed in early 2014.
Jonathan Wilkinson, BioteQ's CEO stated, "We are pleased to re-start the Central Asian project and to initiate early work on another SART project, further strengthening BioteQ's reputation as a leader in SART design and drawing on our core competencies in sulphide precipitation. We see these developments as a positive sign that metals markets may be moving back towards stability which would be a significant driver of growth for the company beyond 2013. We would note however that, while we continue focus on the achievement of positive cash flow from operations in 2014, sales activity in 2013 has been slower than was anticipated earlier in the year and BioteQ will need to make additional commercial progress if it is to achieve financial results within the guidance ranges that were provided for the year."
The SART process (sulphidization-acidification-recycle-thickening) is an enabling technology for copper-complexed gold deposits. Developed by SGS Lakefield and Teck Corporation, SART removes the metallurgical interference of cyanide-soluble base metals and regenerates cyanide for recycle to the gold operation. SART can improve gold yields, reduce processing costs and enhance the environmental performance of gold mining operations.
Over the past few years a number of new SART plants have been commissioned, signifying the growing acceptance of the technology. In an environment of rebounding gold prices and tightening environmental regulation, gold producers are looking at SART to improve the economics of new or existing gold projects. BioteQ is an expert in SART technology, having successfully designed and commissioned two SART plants and provided extensive SART engineering and commissioning services for a third plant, owned by Kinross Gold.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Secures Second Contract for Mobile Sulf-IX(TM) Pilot Plant
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Sep 10, 2013) - BioteQ Environmental Technologies Inc. (BQE.TO), a leader in industrial wastewater treatment, has secured a second contract for the mobile Sulf-IX™ pilot plant. The contract is with the same leading industrial company for which the initial Sulf-IX™ pilot work was undertaken earlier this year. The test work will be carried out at the same site in the US and will advance findings from the first test to remove sulphate from wastewater generated from flue gas treatment. Completion of the test work is expected during the fourth quarter of this year.
The mobile Sulf-IX™ pilot plant, which is based on BioteQ's proprietary technology, is owned by Newalta Corporation. Newalta and BioteQ will be undertaking the test work jointly with Newalta providing operations personnel and expertise, and BioteQ providing process support and technical expertise.
Jonathan Wilkinson, BioteQ's Chief Executive Officer stated, "We are pleased to have secured a second contract with the same customer to further validate and integrate Sulf-IX™ technology into the customer's process flowsheet. We are highly confident of the technology's ability to generate successful results during this round of testing and would hope to then move discussions forward to commercial implementation."
The mobile pilot plant provides on-site field testing for sulphate removal from wastewater. The unit applies BioteQ's novel ion exchange based Sulf-IX™ technology. The Sulf-IX™ process produces treated effluent with low residual sulphate concentrations for re-use or discharge. The only by-product of the process is a solid gypsum product. Data collected from pilot plant testing is used to generate design criteria for a full-scale facility.
BioteQ and Jiangxi Copper Sign Agreement to Build Third ChemSulphide(R) Water Treatment Plant
VANCOUVER, BRITISH COLUMBIA--(Marketwired - Aug. 1, 2013) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial wastewater treatment, has signed an agreement with joint venture partner Jiangxi Copper Company (JCC), the largest copper mining company in China, to build a water treatment plant at the Yinshan Mine site. The Yinshan Mine is an active copper mine located in southeast China approximately 30 km from the Dexing site where the joint venture has existing metals recovery water treatment plants.
The Yinshan water treatment plant will apply BioteQ's patented ChemSulphide® process technology to selectively recover dissolved copper from mine drainage. Designed to treat up to 17,000 cubic metres of water per day, the plant is expected to recover approximately 930,000 pounds of copper concentrate per year that will be sold to JCC's refinery at market prices.
The joint venture partners have committed a total of CDN $2.4 million to build the plant and will share equally in the capital costs and in the profits generated from operations. BioteQ's share of the capital cost will be funded from existing cash reserves of the joint venture. During plant execution, BioteQ will contribute engineering design resources, work with JCC to procure key process equipment and provide commissioning support services. JCC will be responsible for permitting and management of site construction. Staff from the existing joint venture will provide commissioning and operating services. Construction is slated to be completed and the plant in operation in Q2 2014.
BioteQ estimates the Yinshan ChemSulphide® copper recovery plant will provide incremental recurring revenues of $2.4 to $2.8 million annually to the joint venture, of which 50% will accrue to BioteQ. Revenue generation from the plant will be subject to market copper prices, the amount of dissolved copper in the water and annual precipitation levels.
During 2013 BioteQ and JCC have also been working together on two additional metals recovery plants at JCC's Dexing mine site - a Met-IX™ nickel/cobalt recovery plant and a ChemSulphide® copper recovery plant. These two plants are presently scheduled to start up in Q3 2013 and Q2 2014 respectively.
BioteQ's involvement in the design, construction and commissioning of the facility announced today plus its involvement in the two additional facilities currently being constructed and commissioned, represents a significant investment of capital and internal personnel resources during 2013 which will positively impact revenue and cash flow in 2014 and beyond. Taken together, these three new facilities will contribute approximately $3 million in additional recurring revenues to BioteQ on a full year basis (i.e. in 2015).
Jonathan Wilkinson, BioteQ's Chief Executive Officer stated, "We are very pleased to be further strengthening our relationship with Jiangxi Copper Company in addressing water treatment needs at JCC sites. The project will enable the company to further enhance its operating and recurring revenue base while concurrently pursuing technology solution orders from customers who wish to maintain ownership of plant assets. BioteQ anticipates that having all three new China plants on stream by Q3 2014 will enable the company to achieve a sustainable EBITDA positive financial position as early as FY 2014."
The Yinshan plant is the fifth water treatment project between BioteQ and JCC. In 2006, BioteQ and JCC formed a joint venture to apply BioteQ's proprietary process technologies at JCC's mine sites. To date, the partners have designed, built and operated two water treatment plants at the Dexing mine site including a ChemSulphide® copper recovery plant that removes approximately 1.7 million pounds of copper annually from the environment and a BioteQ designed HDS-lime treatment plant. Presently a Met-IX™ plant for nickel/cobalt recovery is undergoing optimization at the Dexing site and a second ChemSulphide® copper recovery plant is also presently under construction at Dexing. The joint venture projects have been recognized with several national and international awards for environmental performance and sustainability.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company's proven technologies have been applied at sites around the world to recover dissolved metals and remove sulphate, producing clean water and eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
BioteQ Secures Contract for Selenium Removal Piloting
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 21, 2013) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial waste water treatment, has secured a contract from Teck Resources Limited (Teck) to conduct pilot scale testing of its innovative new Selen-IX™ technology for selenium removal. Under the terms of the agreement, BioteQ will construct and deploy a pilot scale plant for on-site field testing. BioteQ will retain ownership of the pilot plant and all associated intellectual property.
The total value of the contract will vary depending on the time required for adequate field testing but is anticipated to be approximately $900,000 CDN. Work under the contract is expected to be completed by late 2013. This contract follows successful laboratory testing that BioteQ conducted during 2012 and early 2013.
"BioteQ is very pleased to be moving its Selen-IX™ technology from lab scale to the pilot plant stage," stated Jonathan Wilkinson, BioteQ's CEO. "The continuing development and deployment of this novel technology leverages BioteQ's existing technology platforms and capabilities. Selenium removal represents an expansion to our existing product portfolio and opens up new, significant market opportunities for the Company."
Selenium is essential to all life, but can affect aquatic life at higher concentrations. Selenium management is an important environmental issue that has been identified by regulators and mining organizations in North America.
BioteQ Corporate Profile BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
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BioteQ Secures Contract for Selenium Removal Piloting
VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 21, 2013) - BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial waste water treatment, has secured a contract from Teck Resources Limited (Teck) to conduct pilot scale testing of its innovative new Selen-IX™ technology for selenium removal. Under the terms of the agreement, BioteQ will construct and deploy a pilot scale plant for on-site field testing. BioteQ will retain ownership of the pilot plant and all associated intellectual property.
The total value of the contract will vary depending on the time required for adequate field testing but is anticipated to be approximately $900,000 CDN. Work under the contract is expected to be completed by late 2013. This contract follows successful laboratory testing that BioteQ conducted during 2012 and early 2013.
"BioteQ is very pleased to be moving its Selen-IX™ technology from lab scale to the pilot plant stage," stated Jonathan Wilkinson, BioteQ's CEO. "The continuing development and deployment of this novel technology leverages BioteQ's existing technology platforms and capabilities. Selenium removal represents an expansion to our existing product portfolio and opens up new, significant market opportunities for the Company."
Selenium is essential to all life, but can affect aquatic life at higher concentrations. Selenium management is an important environmental issue that has been identified by regulators and mining organizations in North America.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bioteq.ca for additional information.
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BioteQ works with leading companies in the mining and metallurgy industry, oil sands, and power generation sector to:
BioteQ provides water treatment services tailored to suit customer needs, including process design and engineering, equipment procurement, plant construction, commissioning, operator training, and ongoing operations management.
Company Overview
BioteQ is a water treatment company that applies innovative technologies and operating expertise to solve challenging water treatment problems in the resource and power generation industries, converting waste into a useful resource.
The company was founded in 1998 as Biomet Mining, and became publicly traded as BioteQ Environmental Technologies in 2001 when the company secured its first commercial contract. BioteQ has since successfully commercialized its water treatment technologies, and secured contracts with the world's leading mining companies, utility operators, and regulators to build and operate industrial water treatment plants ranging in capacity up to 24,000 cubic metres per day, at locations in Canada, the US, Mexico, Australia, and China. Our customers include Xstrata, Jiangxi Copper, Capstone Mining, and the US Environmental Protection Agency.
BioteQ has been named one of Canada's Top 50 Most Socially Responsible Corporations by Jantzi Research and Maclean's, and the company's sustainable water treatment solutions have been recognized with the CIM-Syncrude Award for Excellence in Sustainable Development, the Globe Award for Environmental Excellence, the PDAC Award for Environmental and Social Responsibility, the China Mining Environmental Protection Award, and the Mines & Money Sustainable Development Award.
In 2010, BioteQ treated 7.9 billion litres of wastewater, and removed 2.2 million pounds of metal contaminants from the environment.
BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE.
Operations Overview
Our team of engineers and operators have extensive experience in plant design, construction and operations. Because we both design and operate water treatment plants, we understand how to provide practical solutions that are proven in the field.
BioteQ has a successful track record of delivering safe and reliable water treatment plants that comply with environmental regulations and consistently achieve strict water quality requirements. We have a disciplined approach to training, safety, operations, and maintenance that incorporate ISO 14001 standards for environmental compliance, and we provide a process guarantee that the plant performs to design specifications.
With a client base that includes Xstrata, Jiangxi Copper, Capstone Mining, and the US Environmental Protection Agency, BioteQ has built 14 commercial plants at customer sites in Canada, the US, Mexico, Australia, and China, with new plants in development.
Services Overview
We provide water treatment operations for the world's leading resource companies, utility operators, and regulators. These firms work with us because we provide:
We provide a complete range of water treatment technology and operating services. Project scope can be adapted to suit customer needs, including:
BioteQ is recognized nationally and internationally for managing water in a sustainable manner and delivering positive impacts for the environment.
Clean Technologies
Our water treatment solutions combine conventional water treatment technologies with our proprietary processes, to deliver lower life cycle costs for water treatment while converting waste into a useful resource.
We are specialists in process design, plant construction, and operations, and have extensive experience with a wide range of water treatment technologies, including:
// Sulphide precipitation processes for metal removal and recovery
// Lime treatment
// SART process for gold operations
// Ion exchange for metal recovery
// Ion exchange for sulphate removal
Investment Overview
Access to clean water is essential for human health, food production, and energy generation. Yet less than one percent of water on the globe is fit for consumption, driving the need for sustainable water treatment solutions. Innovative water treatment technologies, like those developed and applied by BioteQ Environmental Technologies, play an important role in supplying clean water while meeting strict environmental standards.
BioteQ is an investment in water and the environment. The company trades on the Toronto Stock Exchange under the symbol "BQE".
Why Invest in BioteQ?
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