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BioteQ Releases Results for Q1 2013
BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in industrial waste water treatment, releases its financial and operating results for the first quarter ended March 31, 2013. Further information on the first quarter results can be obtained from the Company's Unaudited Condensed Consolidated Interim Financial Statements and Management's Discussion and Analysis ("MD&A").
BioteQ will hold a conference call on May 14, 2013 at 11:00 AM EDT to discuss results for Q1 2013. Participants can dial in at 416-695-7806 or 888-789-9572; participant pass code 3207139. European callers can dial in at 800-4222-8835; participant pass code 3207139.
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. Going forward, the revenue and operating costs associated with the Company's proportionate share of activities in joint ventures will be netted and disclosed as a single line item on the Consolidated Statements of Operations and the Company's share of assets, liabilities and equity in each joint venture will be presented as a net investment on the Consolidated Statement of Financial Position. The change in accounting standard will not impact overall, consolidated profitability or cash flow in past or future periods. However this change will, given the mandated accounting treatment, result in the Company showing lower revenues than has historically been the case.
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 Measures" in the Company's Q1 2013 MD&A.
Q1 2013 Financial and Operations results
BioteQ's results for Q1 2013 were in line with the company's expectations:
Financial
-- Proportional revenue for Q1 2013 was $1.94 million compared to $2.16
million in Q1 2012. The slight decline in revenue compared to the prior
year was due to the fact that the sale of a mobile water treatment plant
for approximately $1 million was recognized in Q1 in 2012. During Q1
2013, this sale was largely offset by increased copper recovery at the
Dexing plant, increased revenue for services provided to Kinross at a
gold mine site, and increased laboratory and pilot testing activities.
-- Proportional gross margins for Q1 2013, which include BioteQ's share of
joint venture activities, were $552,000 compared to $756,000 in Q1 2012.
Lower overall margins were, in part, driven by lower operating margins
at the Dexing site. We expect that operating margins at Dexing will
return to normal levels during Q2 and Q3.
-- Revenue as reported under the GAAP equity method was $796,000 in Q1 2013
compared to $1.38 million in Q1 2012.
-- Gross margins for the quarter as reported under GAAP were $188,000 in Q1
2013 compared to $420,000 in 2012. Lower margins were the result of a
change in the sales mix from a higher margin plant sale in Q1 2012 to
lab and pilot testing activities in the relevant period that generated
relatively lower gross margins.
-- Net loss for the quarter was $1.0 million in Q1 2013 compared to a loss
of $989,000 in Q1 2012.
-- Comprehensive net loss for Q1 2013 was $866,000 compared to 1.1 million
in Q1 2012.
-- Adjusted EBITDA for the quarter was ($755,000), similar to adjusted
EBITDA of ($749,000) in Q1 2012.
-- Total cash and short term investments, including BioteQ's share of cash
held in joint ventures, was $6.1 million compared to $7.5 million at the
end of 2012. The decline in cash was largely due to working capital
requirements during the quarter.
Operational
-- The Bisbee, Arizona operation recovered approximately 140,000 pounds of
copper and treated 290,000 cubic metres of water during the first
quarter. In Q1 2012, the plant recovered 160,000 pounds of copper and
treated 310,000 cubic metres of water. The operation is expected to
recover approximately 600,000 pounds of copper during the year.
-- The Dexing, China operation recovered approximately 511,000 pounds of
copper and treated 2.2 million cubic metres of water during the first
quarter. In Q1 2012, the plant recovered 373,000 pounds of copper and
treated 1.5 million cubic metres of water. The operation is expected to
recover approximately 1.8 million pounds of copper during the year.
-- BioteQ is currently in the process of constructing and commissioning two
plants at the Dexing mine site in China with its joint venture partner,
Jiangxi Copper Company ("JCC"):
-- A nickel/cobalt recovery ion exchange plant is in the final stages
of technical modifications and is expected to begin commissioning in
the second half of Q2 2013. Commissioning should be completed in
early Q3 2013. We expect the plant will ramp up to full commercial
production during that quarter.
-- Progress on the construction of a second copper recovery plant at
the site, announced in late 2012, has experienced minor delays with
site preparation work due to weather conditions at the site. Site
preparation work has now been completed and design and procurement
activities continue to progress. The new plant is expected to be
completed and to start up in Q4 2013.
Collectively these two plants are expected to add modestly to revenue in
2013 but are expected to contribute approximately an additional $1.5-2.0
million in BioteQ's proportional recurring revenues in 2014.
-- During Q1 2013, we successfully completed commissioning and initial
field piloting of a mobile Sulf-IX(TM) pilot plant that was jointly
funded by Newalta and BioteQ. This unit provides on-site field testing
for sulphate removal from waste water.
Subsequent to Q1 2013, BioteQ announced the sale of its ownership share
of the mobile Sulf-IX(TM) pilot plant to Newalta for approximately
$500,000 Cdn. Under the terms of the agreement, BioteQ will continue to
retain full ownership of its Sulf-IX(TM) intellectual property. However,
sale of this test unit will ensure that planning and execution for
deployment of the unit will be more efficient and that the new
arrangement will more effectively leverage the strengths of both Newalta
and BioteQ on future test campaigns. For financial reporting purposes,
the sale of this unit to Newalta will be accounted for as a disposal of
a fixed asset.
-- During the quarter, BioteQ continued to advance a number of testing and
pilot opportunities and devoted significant efforts to further
developing our sales pipeline.
-- Litigation with Aditya Birla Minerals ("Birla") remains in progress.
Both parties have now submitted initial discovery to the court. We have
reviewed all materials and have requested additional materials be
provided by Birla. We expect that in May the court will determine the
next steps in the litigation process. At present we expect the dispute
will proceed to conclusion in 2013. BioteQ continues to believe that
Birla's claims are without merit. BioteQ intends to continue to
vigorously defend its position and to pursue its claim for damages.
Outlook
Earlier in 2013 BioteQ provided a financial and operational outlook for
2013. Our 2013 targets were stated as follows:
-- Proportional Revenue: BioteQ is targeting to grow revenue in 2013, on a
proportionate revenue basis, by 25% over 2012 to approximately $11.8
million (between $5.5 and $6.5 million on a GAAP equity accounting
basis). Proportional Revenue growth is expected to be generated from:
the completion of plants currently under construction at the Dexing
site; large scale piloting campaigns with customers in North and South
America; plant sales; and engineering and technical development
projects.
-- Adjusted EBITDA: BioteQ is targeting to improve its adjusted EBITDA by
approximately 50% to less than ($1) million from ($1.9) million in 2012.
The projected improvement in adjusted EBITDA is expected to come from
additional margin generated from increased sales revenues and from
continued improvements in the efficiency of our operating and
engineering activities.
While BioteQ's adjusted EBITDA loss was approximately $755,000 in Q1 2013, the Company anticipates stronger bottom line performance over the coming three quarters as the Raglan plant commences operations and as BioteQ recognizes additional revenues from field piloting and laboratory contracts, and from other sales opportunities.
BioteQ remains optimistic with regard to prospects for 2013 and beyond. As a result, 2013 targets for Proportional Revenue growth and adjusted EBITDA remain unchanged.
It should be noted however that a significant portion of BioteQ's Proportional Revenues and profitability remain tied to copper prices. In recent months, the price of copper has fallen and been quite volatile. At the beginning of the year, copper prices were approximately USD $3.65/pound on the London Metals Exchange (LME). Currently, they are approximately USD $3.30/pound on the LME. A sustained decline in copper prices could have a material impact on Proportional Revenue and adjusted EBITDA forecast for the year.
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 Announces Annual General Meeting Details
BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in the treatment of industrial waste water, will host its Annual General Meeting for shareholders on Thursday May 9th at 9:00 am at the Vancouver Marriott Pinnacle Hotel, located at 1128 West Hastings Street, Vancouver. The Management Information Circular, outlining the meeting resolutions and Director nominees, has been mailed to all shareholders of record as of April 4, 2013.
WHAT
At the 2013 Annual General Meeting, the shareholders will receive and consider
resolutions to:
-- Receive and consider the financial statements of the Company for the financial year ended December 31, 2012 and the report of the auditor;
-- Fix the number of directors of the Company at 6;
-- Elect directors for the Company for the ensuing year;
-- Appoint the auditor of the Company for the ensuing year and authorize the directors to fix the remuneration paid to the auditor; and
-- Transact such other business as may properly be put before the meeting.
WHEN
Thursday May 9th at 9:00 am PDT
WHO
Board of Director nominees are:
-- George Poling
-- Clement Pelletier
-- Christopher Fleming
-- Ronald Sifton
-- Peter Gleeson
-- Jonathan Wilkinson
WHERE
Vancouver Marriott Pinnacle Hotel, 1128 West Hastings Street, Vancouver BC
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water
treatment. 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 Q1 2013 Operations Update
VANCOUVER, BRITISH COLUMBIA - (April 15, 2013) - BioteQ Environmental Technologies Inc. (BQE.TO), a leader in industrial waste water treatment, provides an update on plant operations and sales activities for the first quarter of 2013.
Operations
BioteQ had two active water treatment operations during the first quarter at Bisbee, Arizona and Dexing, China. BioteQ's seasonal operations at the Raglan site are expected to commence later this spring when water becomes available from the snow melt.
Revenues from both the Bisbee and Dexing plants are based on the sale of recovered copper. During Q1 2013 the Bisbee operation recovered approximately 140,000 pounds of copper and treated 290,000 m3 of waste water. The Dexing plant recovered approximately 511,000 pounds of copper and treated 2.2 million m3 of waste water.
Combined, in Q1 2013 the two operations removed and recovered approximately 651,000 pounds of copper from the environment and treated 2.5 million m3 of waste water compared to 530,000 pounds of copper and 1.8 million m3 of waste water in Q1 2012. Collectively, BioteQ expects to recover approximately 2.4 million pounds of copper in 2013.
BioteQ's Ion Exchange plant for cobalt and nickel recovery at Dexing, China recovered a limited amount of commercial grade cobalt-nickel product in 2012. This limited production was a result of plant deficiencies that required additional upgrades. Appropriate plant upgrades are now close to being fully implemented. BioteQ expects that the plant will ramp up to commercial production levels during Q2 2013.
During the quarter BioteQ and its Chinese joint venture partner, Jiangxi Copper Company, continued to progress site preparation and design and engineering work for the new ChemSulphide® water treatment plant that is being built at the Dexing mine site. Construction is expected to begin April. The system is expected to be commissioned in Q4 2013.
Mobile Sulf-IX™ Pilot Plant
In addition to operations at BioteQ's commercial plants, during Q1 BioteQ successfully completed commissioning of a mobile Sulf-IX™ pilot plant that was jointly funded by Newalta and BioteQ. This unit provides on-site field testing for sulphate removal from waste water. Data collected from the pilot plant testing will be used to validate the applicability of the technology to new water streams and to generate the design criteria for full-scale Sulf-IX™ water treatment plants.
Upon completion of commissioning, BioteQ began an initial testing contract with a US based industrial company. The pilot campaign is testing sulphate removal from waste water generated from flue gas treatment. Testing will be completed in April 2013. BioteQ and the customer will be reviewing results and discussing potential next steps during Q2.
Subsequent to Q1, BioteQ announced that it will sell its ownership share of the mobile Sulf-IX™ pilot plant to Newalta for approximately $500,000 Cdn following completion of the current testing contract. Under the terms of the agreement, BioteQ continues to retain full ownership of its Sulf-IX™ intellectual property. However, sale of this test unit will ensure that planning and execution for deployment of the unit will be more efficient and that the new arrangement will more effectively leverage the strengths of both Newalta and BioteQ.
Sales
During Q1 BioteQ received an order for lab and engineering services from a gold mining customer relating to application of SART technology.
Also during the quarter BioteQ secured two laboratory testing contracts. One contract involves application of BioteQ's expertise in SART technology to evaluate zinc removal from leach solution for a silver recovery plant. The test work is expected to be completed during Q2 2013 and will provide the basis for a budgetary level proposal for a commercial scale SART plant.
The second laboratory testing contract is focused on the investigation of heavy metals removal using BioteQ's sulphide precipitation technology for a BC mine currently in the permitting process. The test work will be completed during Q2 2013.
The Company expects to release its first quarter financial results on May 13, 2013. Details regarding the exact timing of the release and investor conference call will be provided a week prior to the release.
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 Sells Mobile Sulf-IX(TM) Pilot Plant to Strategic Partner Newalta
2013-04-11
VANCOUVER, BRITISH COLUMBIA -- (Marketwired - April 11, 2013) -BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in industrial waste water treatment, has sold its share of the mobile Sulf-IX™
pilot plant joint asset to partner Newalta (TSX:NAL) for approximately $500,000 Cdn. The mobile Sulf-IX™ pilot plant, which was built in 2012, is intended to provide on-site field testing for sulphate removal from industrial waste water. The unit was jointly developed by BioteQ and Newalta to further collaboration between the partners in pursuing projects that would apply BioteQ's innovative environmental technologies and would utilize Newalta's operating and management expertise.
The mobile Sulf-IX™ pilot plant was commissioned in Q1 2013 and is currently testing water streams at a prospective customer site in the US. Upon completion of this testing in Q2 2013, Newalta will assume full ownership of the mobile Sulf-IX™ pilot plant. BioteQ and Newalta believe that the consolidation of ownership interests will enable more effective and efficient planning and use of the mobile Sulf-IX™
plant.
Going forward Newalta plans to deploy the unit to assess opportunities to apply BioteQ's Sulf-IX™ technology at both existing and new customer sites in North America. Under the terms of the sale agreement, Newalta will provide operating services for pilot plant campaigns while BioteQ will provide on-site process and technical oversight and expertise during testing.
"BioteQ and Newalta have determined that the sale of the joint asset to Newalta will allow for more efficient use of the mobile Sulf-IX™ pilot plant and will provide better alignment with the respective strengths each company brings to the partnership," stated Jonathan Wilkinson, BioteQ's CEO. "We are pleased with this next step in the evolution of our relationship with Newalta and look forward to accelerating commercial progress between the Parties 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.
Nice to see a company make good on guidance and paint a rosy picture for things moving forward.
BioteQ Achieves Record Revenues in 2012
VANCOUVER, BRITISH COLUMBIA--(Marketwire - March 18, 2013) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial wastewater, reports its financial and operating results for the fourth quarter and year ended December 31, 2012. All figures are in Canadian dollars.
BioteQ's management will host a conference call to discuss its annual financial results on Tuesday, March 19, 2013 at 10:00 AM eastern time. Participants can dial in at 416-695-7806 or 888-789-9572; participant pass code: 3207139.
2012 HIGHLIGHTS
2012 was a successful year for BioteQ. In 2012 BioteQ generated the highest level of revenues it has achieved in its history. The company also made significant progress with respect to cash usage levels and further reported progress in a range of operational areas.
At the beginning of 2012, the Company established a set of financial and operational milestones for the year. The following is a summary of our progress against these milestones.
Increase revenues by at least 30%.
Revenues for the year grew 27% over 2011, in line with guidance provided by BioteQ. Total revenues for the year were $9.4 million compared to $7.4 million in 2011. This represents a record level of revenue for the company and was achieved even with the negative impacts associated with significantly lower copper pricing in 2012 vs. 2011.
Further, BioteQ's 2012 revenues do not include the sale of equipment by BioteQ to NWM at NWM's mine site in Mexico. Total proceeds from this sale were USD $650,000. This amount is included in the "Reversal of impairment of Lluvia de Oro operations". Had this sale been to a typical BioteQ customer other than NWM Mining, it would have been accounted for as revenue.
Reduce cash used in operations (including changes in working capital) from $2.5 million in 2011 to less than $1.5 million in 2012 (40% reduction).
Cash usage for the year was also in line with guidance provided by the company in March 2012. Total cash used in operations, after changes in working capital, for 2012 was $1.46 million compared to $2.5 million in 2011 representing a 43% improvement over 2011. BioteQ's adjusted EBITDA improved by 49% from ($3.7) million in 2011 to ($1.9) million in 2012.
Secure an initial sale to a strategic alliance partner
In Q2 2012, BioteQ announced a contract with strategic alliance partner EcoMetales, a wholly-owned subsidiary of Codelco Limited, to conduct laboratory testing and basic engineering relating to arsenic removal for a treatment facility to be built in Chile. The work was completed during the year. The project is now in the next phase of review, which will include environmental and other regulatory approval procedures.
Close sales bookings in Latin America
BioteQ completed engineering review and start-up support services for a Kinross SART project that commenced in 2011. Upon completion of the services, Kinross renewed the ongoing technical support contract into 2013.
In 2012, BioteQ also secured a number of testing contracts with mining companies in South America. One contract was with a leading international mining company to carry out validation test work for the recovery of copper and other high-value trace metals and the removal of arsenic from smelter effluent at a site in Chile, applying the Company's ion exchange technology. The work, which includes laboratory testing and evaluation, was completed in the first quarter of 2013, and will provide the design basis for a commercial plant.
Initial pilot undertaken in a market vertical outside of hard rock mining
BioteQ completed construction of a mobile Sulf-IX(TM) unit that will provide pilot scale testing for sulphate removal. The mobile pilot plant, a joint initiative with Newalta Corporation, provides on-site field testing for sulphate removal from wastewater. Subsequent to year end, the parties announced the successful commissioning of the unit at a Newalta site. BioteQ also announced it had secured the first test contract for the unit with a US based industrial (non-hard rock mining) customer.
2012 FINANCIAL RESULTS
With the exception of Adjusted EBITDA figures, all figures are in accordance with International Reporting Standards (IFRS). Adjusted EBITDA is a non-GAAP measure that is utilized by the Company to provide appropriate transparency of financial results to interested observers. Please refer to the Company's 2012 year end Management's Discussion and Analysis for further details.
Key 2012 financial results were:
-- Total revenues for the year were $9.4 million compared to $7.4 million in 2011 which represents 27% growth over 2011. The increase in revenue over the prior year was mainly due to higher revenue from engineering services and plant sales.
-- Gross margin for the year was $3.7 million, compared to $2.8 million in 2011.
-- Adjusted EBITDA in 2012 was ($1.9) million compared to ($3.7) million in 2011 - a 49% improvement over 2011.
-- Net loss for the year was $3.4 million, or $0.05 per share, compared to a loss of $5.1 million in 2011, or $0.07 per share - a 34% improvement.
-- Cash used in operating activities, after changes in working capital, was $1.5 million compared to $2.5 million in 2011 - a 43% improvement year over year.
-- Working capital at the end of 2012 was $7.4 million which included $7.5 million in cash and short-term investments.
OPERATIONS
BioteQ had three active water treatment operations contributing to revenue during the fourth quarter - plants in Arizona, Quebec, and China. BioteQ had concluded its water treatment operations at a fourth site in the Yukon in mid July. Combined, the plants treated 2.2 million cubic metres of water during the quarter, and removed over 288,000 pounds of metals from the environment, bringing total production for the 2012 year to over 10.6 million cubic metres of water treated and 2.5 million pounds of metal recovered.
The Bisbee, Arizona operation produced approximately 123,000 pounds of copper and treated 253,000 cubic metres of water during the quarter, bringing total production to 492,000 pounds of copper and 974,000 cubic metres of water treated for the year. Revenues for this operation are based on the sale of copper recovered.
The Dexing, China operation produced approximately 165,000 pounds of copper and treated 1.7 million cubic metres of water during the fourth quarter, bringing total production to 2 million pounds of copper and 8.7 million cubic metres of water treated for the year. The operation was inactive for a portion of Q4 due to routine annual plant maintenance. Revenues from this operation are based on the sale of copper recovered.
The Raglan, Quebec ChemSulphide® plant concluded its operating season in late November and treated 241,000 cubic metres of water during the fourth quarter. Year-to-date treatment volumes were 864,000 cubic metres, slightly lower than originally forecast, due to lower than expected precipitation levels over the treatment season. Revenues for this seasonal operation are based on fees for the volume of water treated.
SALES & ENGINEERING PROJECTS
During the year, BioteQ continued to build its business of providing technology solutions - including design, engineering, commissioning and other technical services to mining and other industrial customers.
-- In Q1 2012, BioteQ delivered a mobile ion exchange water treatment plant to an international mining customer.
-- BioteQ and its joint venture partner Jiangxi Copper Company announced plans to build a second ChemSulphide® copper recovery plant at the Dexing site. The plant is expected to be completed by Q3 2013 at a total cost of approximately $3 million.
-- BioteQ obtained 7 paid testing contracts relating to a number of different applications. These testing contracts typically constitute the initial phase in the development of projects that could lead to the provision of full-scale treatment plants.
-- Significant technology development progress was made in the areas of:
-- Selective high-value metals recovery (one test contract signed); and
-- Selenium removal (two test contracts signed).
GUIDANCE
2012 was the first year in which BioteQ began to implement its new corporate strategy. It was also a year in which the Company strived to show measured but meaningful financial and operational progress. However, the primary focus for the Company in 2012 was to lay the foundation that would enable continuing rapid growth over the coming 5 years.
In 2012 BioteQ achieved a record level of revenue and reduced its cash used in operations by over 40%. In addition, the Company made several operational changes that included:
-- Creation of a focused and dedicated sales and marketing organization;
-- Establishment of a technology innovation and business development function; and
-- Enhanced and made more rigorous our engineering and project execution functions.
In 2013, BioteQ expects to continue to build on the progress made in 2012. Key financial milestones for 2013 are:
a. Revenue
The Company expects to grow revenue in 2013, on a proportionate revenue basis, by 25% over 2012 to approximately $11.8 million. Revenue growth is expected to be generated from: the completion of plants currently under construction at the Dexing site; large scale piloting campaigns with customers in North and South America; plant sales; and engineering and technical development projects.
b. Adjusted EBITDA
BioteQ will provide guidance for 2013 and beyond in terms of Adjusted EBITDA (adjusted to exclude the effects of foreign exchange and stock based compensation charges). BioteQ believes that this non-GAAP measure will provide investors and observers with enhanced transparency and understanding of the underlying performance of the Company.
In 2012, BioteQ's adjusted EBITDA was ($1.9) million. For 2013, the Company expects to improve its adjusted EBITDA by approximately 50% to less than ($1 million). The projected improvement in adjusted EBITDA is expected to come from additional margin generated via increased sales revenues and from continued improvements in the efficiency of our operating and engineering activities.
Jonathan Wilkinson, BioteQ's Chief Executive Officer, stated "2012 was a year in which significant progress was made with regard to development and implementation of a new strategy that we believe will stabilize the existing business and provide a platform for rapid growth going forward. Given the numerous financial, sales and operational accomplishments made by the company over the past 12 months, I believe that we are poised for sustained growth and that we are well on our way towards creating a robust, innovative and financially sound organization."
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 to Host Conference Call Regarding 2012 Year End Results
BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, will host a conference call on Tuesday March 19th, 2013 at 10:00 am Eastern to discuss the company's 2012 financial and operating results for the year ended December 31, 2012. The company's financial statements and management discussion and analysis will be released after market close on Monday March 18th and will be available on BioteQ's website at www.bioteq.ca.
WHAT: The 2012 Year End Financial and Operating Results Conference Call
will include introductory remarks by BioteQ's management team,
followed by a question and answer period.
WHEN: Tuesday March 19th, 2013 at 10:00 am Eastern
WHO: Jonathan Wilkinson, Chief Executive Officer
Paul Kim, Chief Financial Officer
WHERE: Dial in access at: 416-695-7806 or 888-789-9572 in North America
and 800-6578-9818 in Europe
Participant pass code: 3207139
A replay of the call will be available until April 2, 2013 by
dialing 905-694-9451 or 1-800-408-3053, reference number 3289202,
and 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'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.
If we can make some progress on this front we could see some serious valuation return to the PPS.
I like to believe Newalta would not back an opportunity that didnt have a good chance of success.
Consensus recommendation: BUY
As of Mar 02, 2013, the investment analyst covering BioteQ Environmental Technologies Inc. advises investors to purchase equity in the company. This has been the consensus forecast since the sentiment of investment analysts improved on Apr 04, 2012. The previous consensus forecast advised that BioteQ Environmental Technologies Inc. would outperform the market.
Share price forecast
The one analyst offering a 12 month price target expects BioteQ Environmental Technologies Inc. share price to rise to 0.35 in the next year from the last price of 0.135.
More: http://markets.ft.com/Research/Markets/Tearsheets/Forecasts?s=BQE:TOR
BioteQ Secures First Contract for Mobile Sulf-IXTM Pilot Plant
February 12th, 2013
VANCOUVER, BC - BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of industrial water and process solutions, has secured the first testing contract for its mobile Sulf-IXTM pilot plant with a leading industrial company. The test work will be carried out at a customer site in the US and will focus on the removal of sulphate from wastewater generated from flue gas treatment. Completion of the test work is expected during the second quarter of this year.
The mobile pilot plant, jointly built and owned by BioteQ and Newalta, provides on-site field testing for sulphate removal from wastewater. The unit applies BioteQ's novel ion exchange based Sulf-IXTM technology. The Sulf-IXTM 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.
"We are seeing greater scrutiny and regulation relating to sulphate discharge in many jurisdictions around the world. This contract provides an opportunity to demonstrate the flexibility and functionality of Sulf-IXTM technology in a new sulphate removal application," said BioteQ CEO, Jonathan Wilkinson. "The signing of this contract also represents achievement of one of the company's corporate goals - undertaking a pilot project in a market vertical outside of hard rock mining."
BioteQ Provides Operations Update for Q4 and Year Ended 2012
BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, has provided an update on plant operations and engineering activities for the fourth quarter and year ended December 31, 2012.
Operations
BioteQ had three active water treatment operations contributing to revenue during the fourth quarter - plants in Arizona, Quebec, and China. Combined, the plants treated 2.2 million cubic meters of water during the quarter, and removed over 288,000 pounds of metals from the environment, bringing total production for the 2012 year to over 10.6 million cubic meters of water and 2.5 million pounds of metal recovered.
The Bisbee, Arizona operation produced approximately 123,000 pounds of copper and treated 253,000 cubic meters of water during the quarter, bringing total production at this facility to 492,000 pounds of copper and 974,000 cubic meters of water treated for the year. This compares with 330,000 pounds of copper and 610,000 cubic metres of water treated in 2011. Revenues for this operation are based on the sale of copper recovered.
The Dexing, China operation produced approximately 165,000 pounds of copper and treated 1.7 million cubic meters of water during the fourth quarter, bringing total production to 2 million pounds of copper and 8.7 million cubic meters of water treated for the year. This compares with 1.7 million pounds of copper and 7.7 million cubic metres of water treated in 2011. The operation was inactive for a portion of Q4 due to routine, annual plant maintenance. Revenues from this operation are based on the sale of copper recovered.
The new Dexing ion exchange plant produced a limited volume of commercial quality cobalt-nickel product in 2012 due to performance issues. BioteQ and JCC have identified the cause of the performance issues, and are making appropriate upgrades to the plant. Management expects that the facility will ramp up to full production in Q2 2013.
The Raglan, Quebec ChemSulphide® concluded its operating season in late November. The plant treated 241,000 cubic meters of water during the fourth quarter. Treatment volumes in 2012 were 864,000 cubic meters, slightly lower than originally forecast, due to lower than expected precipitation levels over the treatment season. This compares with 1.2 million cubic metres treated in 2011. Revenues for this seasonal operation are based on fees for the volume of water treated.
Sales & Engineering Projects
BioteQ's sales team continued to actively pursue new project opportunities in mining markets. The sales pipeline continues to strengthen, as evidenced by a number of new validation contracts that have recently been secured. Key highlights for the quarter included:
-- BioteQ and its Chinese joint venture partner, Jiangxi Copper Company, began design work on a fourth water treatment plant that will be built at the Dexing mine. Construction is expected to commence in the first quarter of 2013. The plant is expected to be commissioned and to enter operation during Q3 2013.
-- During Q4, BioteQ secured a contract with a leading international mining company to carry out validation test work for recovery of high value trace metals from smelter effluent at a site in South America, applying BioteQ's ion exchange technology. The work, which includes laboratory testing and evaluation was completed subsequent to year end and will provide the design basis for a commercial plant proposal early in 2013.
-- During Q4, BioteQ also secured a testing contract for a project in Latin America. The testing will evaluate the performance of BioteQ's technologies to remove contaminants from copper leach solution. The testing work is expected to be completed during Q1 2013 and the project will then move to the next stage of evaluation by the customer.
-- Construction and commissioning of a mobile Sulf-IX(TM) plant, built in partnership with Newalta, was undertaken in 2012 and commissioning was completed in January 2013. The demonstration unit will be used to validate the Sulf-IX(TM) technology at customer sites, including testing in new market verticals. BioteQ and Newalta are working together to identify suitable sites to deploy this new sulphate removal technology.
-- BioteQ extended its contract with Kinross Gold for engineering and process support work relating to a SART project through the end of 2012. Subsequent to year-end, the parties agreed to a further extension to continue these services into 2013.
Guidance
In March 2012, BioteQ's management provided guidance on expected financial results for 2012 which indicated that the Company expected to grow revenues by 30% vs. the $7.4 million achieved in 2011, and to reduce cash use by at least 40% vs. 2011 to less than $1.5 million. The Company remains on track with respect to the 2012 operations and financial guidance.
The Company expects to release its 2012 fourth quarter and annual audited financial results in March 2013. The Company will also provide full year operational and financial guidance for 2013 at that time. Details regarding the exact timing of the release and investor conference call will be provided a week prior to the release.
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 Completes Commissioning of Mobile Sulphate Removal System
Monday 21 January 2013
BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, has completed commissioning of a mobile water treatment plant that applies the company's Sulf-IX(TM) process for sulphate removal. The plant is jointly owned by BioteQ and strategic alliance partner Newalta (TSX:NAL). The plant is presently deployed at a Newalta site and will be undergoing further process optimization during the remainder of the month of January.
Jonathan Wilkinson, BioteQ's CEO stated, "Commissioning of the mobile Sulf-IX(TM) system is an important milestone in the commercialization of this innovative technology, and in our partnership with Newalta. BioteQ and Newalta are working together to identify potential opportunities to demonstrate the Sulf-IX(TM) technology at customer sites. We anticipate that pilot demonstrations will lead to commercial opportunities for full-scale Sulf-IX(TM) systems."
Sulf-IX(TM) is an ion exchange technology developed by BioteQ to remove calcium and magnesium sulphates from water. The process produces clean water with low residual sulphate concentrations, and a solid gypsum product which can be used as a soil amendment or as an input for fertilizers and building products. Sulf-IX(TM) recovers up to 99 percent of the feed water for re-use, and delivers low life cycle costs for water treatment through lower capital and operating costs, lower energy consumption, and reduced carbon footprint when compared to alternative processes for sulphate treatment.
Sulphates are a form of salt that can form in a wide range of industrial activities, including lime plant effluent, metallurgical process streams, refinery wastewaters, shale gas frac water, cooling tower blow-down and make-up water, flue gas desulphurization blow-down, ash pond water, steel manufacturing wastewater, and landfill leachates.
Although not toxic to humans except in very high concentrations, sulphates can impart taste and odour at lower concentrations and can cause digestive disorders. In agricultural areas, sulphates are believed to negatively impact crop yields and domesticated mammal reproduction. Within industrial operations, sulphates cause scaling of equipment which can lead to premature equipment failure and higher maintenance costs. In response to these concerns, regulations governing sulphate concentrations in water are tightening in many jurisdictions around the world.
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.
I think it should be 9.5 million in 2011.
But dont let the facts get in the way of a good story. LOL.
BioteQ believes their wastewater technology is “silver bullet”
November 25, 2012
Founded in 1998, BioteQ Environmental Technologies Inc has made ‘Converting wastewater into a useful resource’ their goal and mandate for operations. The company has grown and developed alongside the Canadian mining industry in a way that has helped to solidify its role in the future of mining.
In 2011, BioteQ treated 9.5 billion litres of wastewater and recovered 2.1 million pounds of metals from the environments they treated. They accomplished these numbers through an approach that is beginning to be common practice in the industry: flexibility.
According to BioteQ, “Our water treatment solutions combine conventional water treatment technologies with our proprietary processes, to deliver lower life cycle costs for water treatment while converting wastewater into a useful resource.” These treatment solutions include Sulphide precipitation process, Lime treatment, SART process for gold operations, and Ion Exchange for both metal and sulphide recovery.
It is this kind of flexibility that, according to David Kratochvil, President & Chief Technology Officer at BioteQ, makes BioteQ unique. This flexibility allows BioteQ to tackle new and interesting projects that help to drive cutting edge technologies and practices.
Innovation was, and is, an important subject to Kratochvil. In his eyes the mining industry is facing a future that will be bound and constrained by government regulations. “The environmental trend in the industry is getting stricter and stricter – and this is not changing anytime soon.” Kratochvil believes his company can and will help Canadian mining companies to navigate these regulations; helping them to be more productive and sustainable while doing so.
He also hopes to make sustainable maintenance a profitable experience for the mining industry. “Mining waste (and wastewater) contains complex metals, some of them are dangerous but many are useful and surprisingly profitable.” Kratochvil says that if these business ventures can turn a profit, then the initial capital spent on starting the process should be less intimidating for industry executives.
So far BiotQ has little competition. According to Kratochvil, their largest competition is the mining industry’s reverence for lime treated water. The lime treatment process is not perfect; it creates a significant waste disposal problem.
“We are not looking at our technology as the silver bullet – but it is a possibility,” says a confident Kratochvil, since theirs produces less waste than other methods.
Recently BioteQ posted an update on their activities for the third quarter of 2012. With three active water treatment operations contributing to revenue during the third quarter: plants in Arizona, Quebec, and China collectively treated 3.6 million cubic meters of water during the quarter, and removed over 850,000 pounds of metals from the environment. It was also forecasted, by BioteQ’s management, in March of 2012 that revenues would increase by 30 per cent. The need for this technology is growing, and things look to be on track for this new and innovative Canadian company.
Link: http://www.epcmworld.com/news/main-news/bioteq-wastewater-technology
BioteQ to Present at AMD Workshop in China
Monday, November 26, 2012 8:30 AM
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Nov. 26, 2012) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, will deliver a presentation at the upcoming International Acid and Metalliferous Drainage (AMD) Workshop, a conference hosted by the Chinese Network for Acid Mine Drainage (CNAMD). The conference will be attended by representatives from the mining industry, technology solutions providers, and government, focused on addressing the issues of heavy metal pollution in China and internationally. This year's event takes place December 2 to 4 in Beijing, China. A copy of the presentation will be available on BioteQ's website at http://bioteq.ca/technology/technical-papers/.
WHAT: Presentation entitled "Metal Recovery and Active AMD/ARD Treatment with Sulphide Precipitation and Ion Exchange Technologies"
WHEN: Tuesday, December 4, 2012
WHO: Andrew Hall, VP Sales and Marketing; Songlin Ye, Director, China Operations
WHERE: For more information, visit: www.amdworkshop.com.cn
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.
Good conference call. Thanks to BQE for being available to answer all the questions.
BioteQ Reports Q3 2012 Operating and Financial Results
BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial wastewater, reports its financial and operating results for the three and nine month periods ended September 30, 2012. All figures are in Canadian dollars and are in accordance with International Reporting Standards (IFRS), unless otherwise noted.
BioteQ's revenues include revenues from engineering fees and plant sales, revenues from plant operations generated by the sale of recovered metals, and revenues from plant operations that generate water treatment fees.
Financial results and highlights for Q3 2012:
-- BioteQ's financial performance in the third quarter and the first nine months of 2012 was strong. Year to date revenues are similar to revenues achieved by the Company for the full year in 2011. Cash usage and net income levels improved considerably compared to 2011.
-- Total revenues for the quarter were $2.8 million, similar to Q3 2011 revenues of $2.9 million. Total revenues for the first nine months of 2012 were $7.3 million compared to $5.7 million in the first nine months of 2011, an increase of 29%.
-- The year to date revenue increase over the prior year was due to a doubling of engineering fees and plant sales from $1.1 million to $2.3 million, a 35% increase in treatment fees from $1.1 million to $1.5 million, and a slight increase in metal recovery revenues from $3.4 million to $3.5 million. The increase in metal recovery revenues was due to a 20% increase in production, which was offset by lower global prices for copper in 2012 compared to 2011.
-- Operating margin for the quarter was $1.2 million, compared to $1.6 million in Q3 2011. Year to date, operating margin was $2.7 million compared to $2.4 million for the same period in 2011. Operating margin improved on an absolute basis for the 9 month period, even accounting for the impact of lower copper prices. Had copper prices in 2012 been at 2011 levels for the first 9 months of the year, operating margin would have been $700,000 higher.
-- Cash used by operating activities, after changes in working capital, was $200,000 compared to cash use of $412,000 in the same quarter last year. Year to date, cash used in operations including working capital was $774,000, an improvement of $632,000 or 45% compared to cash use of $1.4 million in 2011.
-- BioteQ has achieved a significant improvement in net cash used in operating activities while also making strategic investments to drive growth. Earlier in the year, the Company invested in enhanced sales and marketing resources to secure new contracts and enter new markets, as well as engineering and technical resources to support project execution. Cash use has also been impacted by a number of non-recurring costs that affect 2012 results and that will, to a lesser extent, impact 2013 including: legal fees; care and maintenance costs for the Mount Gordon plant; payments and consulting fees owing to BioteQ's former CEO; and severance pay resulting from an internal efficiency review conducted early in the year.
-- Net loss for the quarter was $1.3 million ($0.02 per share), compared to a loss of $1.1 million ($0.02 per share) in 2011. Year to date, the net loss was $2.2 million ($0.03 per share) compared to $3.2 million ($0.05 per share) in 2011, a 32% reduction compared to 2011.
-- The Comprehensive loss for the third quarter was $1.5 million compared to a loss of $560,000 in Q3 2011. Year to date, the Comprehensive loss was $2.3 million compared to $2.7 million in 2011.
-- Working capital at the end of Q3 2012 was $8.1 million which included $8.2 million in cash and short-term investments. BioteQ has future capital commitments of approximately $1.7 million for the completion of new water treatment systems at the Dexing mine.
-- BioteQ ended the quarter with total assets of $17.4 million compared to $19.3 million as of December 31, 2011.
Operating results and highlights for Q3 2012:
-- BioteQ had active operations in Canada, the US, and China during Q3 2012 that together treated 3.6 million cubic meters of contaminated water and recovered 850,000 pounds of metal contaminants from the environment, bringing total production for the first nine months of 2012 to over 2 million pounds of metal and 8.3 million cubic meters of water. The Company's operations are performing well and are on track to meet expectations for performance in 2012.
-- During the quarter, BioteQ made additional progress in executing its strategic plan. The sales and marketing team continues to qualify and to actively pursue new project opportunities in mining markets, resulting in improved pipeline quality, and a growing portfolio of validation contracts that are expected to lead to commercial sales over the next 12 to 18 months.
-- BioteQ, together with joint venture partner Jiangxi Copper Company, announced plans in September to build an additional copper recovery plant at the Dexing site. The companies committed $3.2 million, sharing equally in the capital costs of the plant and in the profits generated from operations. The operation is expected to provide incremental recurring revenue of between $2.5 to $3 million, of which half will accrue to BioteQ. Design work on the plant has commenced. Construction is expected to be complete by the end of Q3 2013.
-- In August, BioteQ completed its contract for engineering review and technical services for Kinross Gold's Maricunga site in Chile. Subsequent to quarter end, BioteQ secured a second fee-based contract with Kinross for continuing technical services in Chile.
-- BioteQ completed fee-based engineering design work for an arsenic removal facility for EcoMetales, a wholly-owned subsidiary of Codelco. The project has moved to the next stage of review, which will include environmental and regulatory approval.
-- BioteQ carried out fee-based validation test work for two SART projects during the quarter. Testing was completed on one project, which provided the design criteria to inform the commercial proposal for a full scale plant; the customer is expected to make a decision regarding this proposal within the next six to twelve months. Test work for the second validation contract is in progress and is expected to lead to the provision of a commercial proposal during the fourth quarter.
-- BioteQ and Newalta completed construction of a mobile Sulf-IX™ unit that will provide a pilot scale plant for the partners to demonstrate the technology's sulphate reduction capabilities for new customers and new market verticals. The plant is being commissioned at a Newalta site.
-- BioteQ continues to advance its Sulf-IX™ technologies toward
commercial applications in the mining and energy sectors. The Company is providing ongoing technical services to optimize a demonstration scale Sulf-IX™ plant built by an international mining customer at a mine site in the southern US.
-- Subsequent to the end of the quarter, BioteQ successfully concluded its eighth operating season at the Raglan site. For the 2012 operating season, the total volume of water treated was approximately 860,000 m3.
Guidance
BioteQ is on track to meet the financial guidance provided in March, 2012. The company expects revenues in 2012 to increase by at least 30% over the prior year, to approximately $10 million, with cash used in operations (including changes in working capital) to be reduced by at least 40% to less than $1.5 million.
Jonathan Wilkinson, BioteQ's Chief Executive Officer, stated, "We are pleased with BioteQ's continued progress towards its 2012 goals. We have qualified and expanded our sales pipeline, and important project opportunities continue to advance toward contract decisions. Revenues and cash figures have improved significantly compared to 2011. Based on the results for the first nine months of the year, we anticipate that the Company will meet its operational and financial milestones for the year. We believe that by demonstrating consistent progress, we will ultimately provide strong returns to our shareholders."
BioteQ's financial statements and the Company's MD&A have been filed on SEDAR, www.sedar.com, and will be available on the BioteQ website at www.bioteq.ca.
A conference call to discuss the financial results is scheduled for Tuesday November 13th at 11:00 am Eastern. Participants can access the call by dialing 416-340-2217 or 1-866-696-5910, reference number 9447043. For assistance during the call, dial asterisk 0. A playback of the call will be available until December 1st by dialing 905-694-9451 or 1-800-408-3053, reference number 3591824. A recording 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'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.
Buys beating Sells today by 10:1
http://ih.advfn.com/p.php?pid=trades&symbol=TSX%3ABQE
Let the bull run begin.
GO BQE
Buys are pouring in.
170K Buys to 17K Sells.
Looks like the volume is coming.
6 Days til earnings and the CC.
Looking forward to what BQE is going to report.
Go BQE.
The MACD for BQE currently provides a strong bullish signal for two reasons. First, the MACD is above the signal line, a 9-day moving average. Second, the MACD is above the critical level of 0 which means that the underlying moving averages are trending higher.
I think we got another follower here. :)
I believe the next earnings will be favorable. They will be doing a Q&A session after the call so this is a good sign with the companies transparency and desire to keep shareholders informed. It also tells me they are anticipating a good report.
Price action confirms this today in my mind.
Onward and upward BQE.
BioteQ to Host Conference Call Regarding Q3 2012 Financial and Operating Results
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 11/05/12 -- BioteQ Environmental Technologies Inc. (TSX: BQE), a leader in the treatment of industrial waste water, will host a conference call on Tuesday, November 13, 2012 at 11:00 am Eastern time to discuss the company's third quarter financial and operating results for the three and nine month period ended September 30, 2012. The company's financial statements and management discussion and analysis will be released after market close on Monday, November 12, and will be available on BioteQ's website at www.bioteq.ca.
WHAT: The Q3 2012 Financial and Operating Results Conference Call will include introductory remarks by BioteQ's management team, followed by a question and answer period. Questions may also be sent to BioteQ prior to the call at investor@bioteq.ca, and will be addressed during the question period.
WHEN: Tuesday, November 13, 11:00 am Eastern
WHO: Jonathan Wilkinson, Chief Executive Officer; Paul Kim, Chief Financial Officer; Tanja McQueen, VP Corporate Development
WHERE: Dial in access at 416-340-2217 or 1-866-696-5910; Reference number 9447043
A replay of the call will be available until December 1 by dialing 905-694-9451 or 1-800-408-3053, reference number 3591824, and 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'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.
"The Company expects to release its third quarter financial results on Monday November 12th. Details regarding the timing of the release and investor conference call will be provided a week prior to the release. "
Looking forward to November 12th
Progress.. thats the name of the game.
Good continuation of collaboration and another potential commercial plant contract for Q4.
BioteQ Secures Contract for Validation of Metal Recovery Using Ion Exchange
VANCOUVER, BRITISH COLUMBIA -- (Marketwire) -- 10/31/12 -- BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial water and process solutions, has secured a contract with a leading international mining company to carry out validation test work for recovery of copper and other high value trace metals and removal of arsenic from smelter effluent at a site in Chile, applying BioteQ's ion exchange technology. The work, which includes laboratory testing and evaluation, is expected to be complete in the fourth quarter of this year, and will provide the design basis for a commercial plant.
Jonathan Wilkinson, BioteQ's CEO stated, "This project provides an opportunity to demonstrate BioteQ's ion exchange know-how for recovery of copper and valuable trace metals and removal of contaminants like arsenic from metallurgical process streams, to support our customer in generating revenue from waste. BioteQ continues to develop innovative treatment solutions for the mining industry. This validation testing contract is an important milestone to advance the project toward a commercial contract for a complete process technology solution."
BioteQ's ion exchange process technologies use specialized resins to selectively remove dissolved metals from waste water. The technology is particularly effective where the metal concentrations are very low but still provide substantial value or exceed discharge limits. The process produces treated water that meets strict water quality regulations, while recovering a marketable metal product.
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.
Looking forward to a productive and disciplined Q3 report.
Event Advisory: BioteQ to Present Technical Paper at International Water Conference
BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, will present a technical paper at the upcoming International Water Conference, an annual conference hosted by the Engineers' Society of Western Pennsylvania. The conference draws international participation by engineers, water chemists, and operations managers from industry, government, and academia, providing knowledge exchange about new technologies and issues impacting industrial water treatment. This year's event takes place November 4th to 8th in San Antonio, Texas. A copy of the paper is available on BioteQ's website at http://bioteq.ca/technology/technical-papers/.
WHAT: Presentation entitled "Sulfate Removal to Increase Cooling Water Re-Use", in the session entitled "Ion Exchange - More than Just Demineralizing"
WHEN: Wednesday November 7th at 8:00 am.
WHO: Dr. David Kratochvil, President & Chief Technology Officer, Alex West, Process Engineer
WHERE: For more information, visit www.eswp.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.
Looks like market is reacting to the possibility of a profitable quarter. Still some resistance around .18/.185 but its getting chipped away quickly here.
BioteQ Provides Operations Update for Q3
News Release - October 17, 2012
BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, has provided an update on plant operations and engineering activities for the third quarter of 2012.
Operations
BioteQ had three active water treatment operations contributing to revenue during the third quarter - plants in Arizona, Quebec, and China collectively treated 3.6 million cubic meters of water during the quarter, and removed over 850,000 pounds of metals from the environment, bringing total production for the first nine months of 2012 to over 2 million pounds of metal and 8.3 million cubic meters of water.
The Bisbee, Arizona operation produced approximately 142,000 pounds of copper and treated 285,000 cubic meters of water during the quarter, bringing total production to 369,000 pounds of copper and 722,000 cubic meters of water treated in the first nine months of the year. Revenues for this operation are based on the sale of copper recovered.
The Dexing operation produced approximately 716,000 pounds of copper and treated 2.8 million cubic meters of water during the third quarter, bringing total production to 1.65 million pounds of copper and 7.0 million cubic meters of water treated in the first nine months of the year. The plant is expected to undergo routine maintenance over a four week period in the fourth quarter. Revenues from this operation are based on the sale of copper recovered.
Together, the Bisbee and Dexing operations are on track to recover approximately 2.3 million pounds of copper in 2012.
The new Dexing ion exchange plant provided limited production of commercial quality cobalt-nickel product, due to continuing issues with the performance of a key reagent in the process. BioteQ and JCC have identified the cause of the performance issue, and are making appropriate upgrades to the plant. Management expects that the facility will ramp up to full production by early Q2 2013.
The Raglan, Quebec ChemSulphide® plant treated 562,000 cubic meters of water during the third quarter, bringing year-to-date treatment volumes to 623,000 cubic meters. Revenues for this seasonal operation are based on fees for the volume of water treated. The plant is expected to treat approximately 875,000 cubic meters of water during the 2012 season, slightly lower than originally forecast, due to lower than expected precipitation levels over the treatment season. This change is not expected to impact the Company's financial guidance for 2012.
Sales & Engineering Projects
BioteQ's sales team is actively pursuing new project opportunities in mining markets. The sales pipeline continues to grow and strengthen, as evidenced by new validation contracts that have recently been secured. Key highlights for the quarter:
-- A SART validation contract, announced at the end of the second quarter, has now been completed. BioteQ has provided a commercial proposal to the customer for a full scale plant. BioteQ expects the customer to make a decision regarding this proposal within the next three to six months.
-- The sales team secured a second SART validation contract. Work on this contract is in progress and is expected to lead to the provision of a commercial proposal during the fourth quarter.
-- A contract was secured with EcoMetales to advance to the next stage of process design engineering for an arsenic treatment facility in Chile. Work under this contract is now complete, and the project has moved to the next phase of review.
-- BioteQ announced plans to build and operate a fourth water treatment plant in China with joint venture partner Jiangxi Copper Company. Design work on this plant is underway and the plant is expected to be operational by July 2013.
-- Construction of a mobile Sulf-IX(TM) plant has been completed in partnership with Newalta. Commissioning has commenced. The demonstration unit will be used to validate the Sulf-IX(TM) technology at customer sites, including testing in new market verticals. BioteQ and Newalta are working together to identify suitable sites to deploy this new sulphate removal technology.
-- Subsequent to quarter end, the sales team secured a second contract with Kinross Gold for engineering and process support work relating to a SART project.
Guidance
In March 2012, BioteQ's management provided guidance on expected financial results for 2012 which indicated that the Company expected to grow revenues by at least 30% over 2011 to approximately $10 million, and to reduce cash use by at least 40% to less than $1.5 million. The Company remains on track with respect to the 2012 operations and financial guidance.
The Company expects to release its third quarter financial results on Monday November 12th. Details regarding the timing of the release and investor conference call will be provided a week prior to the release.
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.
Looking good. Keep them coming.
BioteQ Secures Second Contract with Kinross Gold
VANCOUVER, BRITISH COLUMBIA, Oct 09, 2012 (MARKETWIRE via COMTEX) -- BioteQ Environmental Technologies Inc. , a leader in the treatment of industrial water and process solutions, has secured a second contract with Kinross Gold for technical services. The contract provides for fee-based services which have commenced and will continue until December 31, 2012. This contract follows an initial fee-based contract signed with Kinross Gold in May 2011. The initial contract was concluded at the end of August 2012.
Jonathan Wilkinson, BioteQ's Chief Executive Officer, stated, "We are pleased to extend our technical services work with Kinross Gold. Our team has a decade of experience delivering safe and reliable treatment plants. We are pleased to bring this experience to our work with 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'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 to Present Technical Paper at Conference of Metallurgists
VANCOUVER, BRITISH COLUMBIA--(Marketwire - Sept. 24, 2012) - BioteQ Environmental Technologies Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, will present a technical paper at the upcoming Conference of Metallurgists, an annual conference hosted by the Metallurgy and Materials Society of the Canadian Institution of Mining (CIM). The conference is attended by mining and metallurgy professionals from industry, government, and academia. This year's event takes place September 30th to October 3rd in Niagara Falls. A copy of the paper is available on BioteQ's website at http://bioteq.ca/technology/technical-papers/.
WHAT: Presentation entitled "Reduction of Water Treatment Costs Through Ion Exchange Pre-Concentration of Metals while Maintaining Strict Effluent Standards"
WHEN: Tuesday October 2nd, 2012, at 2:50 pm
WHO: Andrew Hall, Vice President Sales & Marketing and Max Nodwell, Senior Development Engineer
WHERE: For more information, visit www.cim.org/com2012/
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.
The selling is close to an end if not already. I heard one of the European investors was mandated to divest away from any company with under a $1B market cap which has put some recent downward pressure on the pps.
Pipeline and technology is solid. Great management and a few big projects about to take off. Also when the IX gets out to the market we may see an entirely new revenue stream sooner than later.
Buying.
JMO. :)
Just a guess at this point but a good one.
As water regulations tighten the plants will become more popular, the recoverable/resellable metal is obviously a great additional revenue stream which will only improve in my opinion.
I suspect a bigger driver will be regulation of water usage and treatment. If they can expand into other segments and improve their pipeline technologies to include other metal recovery it will bode well for this group.
Lets not forget that its only been a year or so since the new CEO came into the picture which brought a more business like approach. The previous guy was more of a scientist than a CEO and once his compensation is off the books which should be by next year then the company will have an even more efficient burn-rate.
We are in the introductory/growth stage of the cycle. It will be a bit back and forth here until we start to really make waves and people take notice.
And when they do we will have forward looking valuation again.
what makes you think its jupiter?(who owns 2 mil by the way)http://apps.cnbc.com/view.asp?country=US&uid=stocks/ownership&symbol=BQE-T&country=CA
i agree with your valuation. I suspect the new plant in china plus the ion exchang when the kinks are worked out will put this company into an anual profit. Its kind of a shame its taken so long with such a good product but the fact of the matter is bioteq is trading near its alltime lows and will soon enough produce record revenues and profit providing metal prices syay up. Only thing that concerns me is the company's current bread and butter is a jv with china, in china.
Might be Jupiter then. Im picking some up as they put it down. My average is below .20 and I feel pretty good about the prospects here. Its not even at a fair valuation in my opinion. Plus management had targeted a conservative 35% in revenue growth for 2012 and it appears they are on pace. Their guidance has so far been bang on and they expect to accelerate revs through 2013.
A 35% improvement in revenue will be a nice milestone and could put some spring back into their step. We need the stock to become forward looking again and then we can think about the pps when it was up between $3 and $4.
The cash position of the company also represents a pure .11/share valuation so today its trading at 1.5X cash position which is quite low.
Just one test plant/contract/milestone and we will see this back above .20
Just my two cents. :)
sprott no. ubs not sure, ubs is based out of europe but its ubs global asset manageemnt canada, a canadian branch of ubs. jupiter yes, it would appear so
Are either of those institutions based out of Europe?
sprott asset management, ubs, jupiter asset management all own over 1.6 mil traded.
As far as I can gather its not Newalta and is unrelated to any corporate developments.
more importantly who is this seller? worst case pilot plant with newalta is a failure and its them unloading there 3.5 mil. Not likely but who knows.
Looks like another round of disposition to the tune of 800K shares today. Im curious as to how many shares remain to be let go.
Dont think its related to anything the company is doing but rather a change in philosophy by one of the institutional holders. Seems to be some risk aversion being taken off the table. Also it appears the company has a very strong cash position and based on that alone the pps should be .11 so right now the pps is way undervalued. If someone is selling based on philosophy change then its a great time to take the shares off their hands.
I think we see upward sustained momentum into the close of the year. Guidance is on track and the new plant is a bonus. Stay tuned..
there was an icenerg seller at .175 today, what ape/apes would sell 850k in spite of such strong fundementals for the business. Hopefuly not bad sart tests
800K shares traded today in total volume it appears.
BioteQ Selected to Participate in "Best of IWC" Webinar Series
VANCOUVER, BRITISH COLUMBIA -- (MARKET WIRE) -- 09/12/12 -- BioteQ Environmental Technologies, Inc. (TSX:BQE), a leader in the treatment of industrial water and process solutions, has been selected to participate in the "Best of IWC" webinar series, hosted by the Engineers' Society of Western Pennsylvania. The series highlights select technical papers presented at the International Water Conference in November last year. A copy of BioteQ's paper is available on the company website at www.bioteq.ca/technology/technical-papers/. Registration for the webinar is at www.eswp.com/water/.
WHAT: Presentation entitled "Sulfate Removal from Acid Mine Drainage for Potential Water Re-Use"
WHEN: September 20, 2012, 12:00 noon to 1:00 pm Eastern time
WHO: Dr. David Kratochvil, President & Chief Technology Officer
WHERE: For more information, visit www.eswp.com/water/
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.
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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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