Envirometal Technologies Inc. (EVLLF)

[Smackyd]

https://www.marketwatch.com/press-release/enviroleach-technologies-invited-to-present-at-the-united-nation-assembly-in-new-york-2019-10-02?mod=mw_quote_news

[whytestocks]

News: $EVLLF EnviroLeach Pours First Gold Bars from Gravity Concentrates

VANCOUVER, BC / ACCESSWIRE / September 30, 2019 / EnviroLeach Technologies Inc. (the "Company "or "EnviroLeach"), (CSE: ETI)(OTCQB: EVLLF)(FSE:7N2) is pleased to announce that it has successfully produced its first commercial gold bars using the EnviroLeach formula with a combined weight of ...

In case you are interested EVLLF - EnviroLeach Pours First Gold Bars from Gravity Concentrates

[Ruffieruff]

Thanks

[teq0904]

They told me that their system lost the data so I had to add my symbols again last week. Today it failed again, so I have contacted them again. Prior to this, I have used it for 5 years with no problem and it is the only news provider that provides email notification of trading halts.
tmxmoney.com and you can sign up free. Go to alerts and set up the alert for any company that you want news from, but I imagine you should use the Canadian symbols.

[Smackyd]

https://www.marketwatch.com/press-release/enviroleach-pours-first-gold-bars-from-gravity-concentrates-2019-09-30?mod=mw_quote_news

[Ruffieruff]

Nice news out this AM. Can you post.
Thanks

[Smackyd]

I called them two days ago and asked some questions. I asked what the “concentrate” really is. It is 95% metals from the PCBs mostly copper by weight. The concentrate side recovers nearly all the metals except gold which it only captures about 50% of. The rest of the gold is recovered using their patented process on the wet side. I was told the next thing they are working on recovering is the tin (the second most valuable metal in the PCBs by the way). They have several things in the pipeline they could not discuss. I bet once they get they get the bugs worked out in the Canada plant they move forward with the Memphis project. It’s an interesting time for this company. Optimistic they could be revenue neutral early next year.

Just a side note, I asked if they ever tried leaching uranium. He said it was not on their radar.

[teq0904]

Two months ago the question was posed if the lixiviant would be effective on rare earth minerals. Duane responded that its something they'd look at eventually, but their plate was a little full.
Its confirmed that Jabil is still in, but the bigger question is...are their chemists the source of the of the reclaimed rare earths that Apple announced they are receiving from an unnamed company. Mineworx saw fit to tweet that article out today. Additionally, Jabil's stock made a sudden and very vertical 10% rise this morning on almost 3x normal daily volume. This is all circumstantial, but intriguing.

[georgie18]

EVLLF...97...Hit $1 high...

[whytestocks]

News: $EVLLF E-Waste Sector Update

VANCOUVER, BC / ACCESSWIRE / September 25, 2019 / EnviroLeach Technologies Inc. (the "Company "or "EnviroLeach"), (CSE:ETI)(OTCQB:EVLLF)(7N2:FSE) The Company has begun commissioning it's 20 tonne per day E-Waste recycling plant in Surrey, BC, Canada. Although construction is complete minor c...

Find out more EVLLF - E-Waste Sector Update

[bigone]

Now that I have time, I re-subscribed to the e-mails news release update.
We shall see if this helps? No mention of me having any prior sign up.
We are also shareholders in Mineworx. Very few e-mails to do with them.

[teq0904]

It is a mistake to try to read the minds of the world from looking at a ticker tape printout. No one can figure what the last sentence of the nr means so interest may remain muted.

[teq0904]

Well then, sign in and see what you checked.

[gwat1979]

the pressure is still building here, large bids have come in within the past hour or so .75-.77. we should bust through .80 soon without much difficulty by the looks of things

[bigone]

I don't remember if I had checked for all services, but I am getting no email news updates.

[teq0904]

When you registered, did you select all news release providers? I haven't got any nr from tmx lately and see they changed their site since I originally set up. I will email tmx if you had all services checked and didn't get news either. tmx already responded to me that they are looking into the issue.
Anyway my brokerage sent today's news, but I don't like the last sentence because I wonder why JBL isn't doing this instead. Although Memphis is 1,000 miles from Vancouver, so maybe ETI is representing JBL, or does partners mean plant partners? (which JBL is supposed to be.)

E-Waste Sector Update
2019-09-25 09:30:42 AM ET (ACCESSWIRE)



VANCOUVER, BC / ACCESSWIRE / September 25, 2019 / EnviroLeach Technologies Inc. (the "Company "or "EnviroLeach"), (CSE:ETI)(OTCQB:EVLLF)(7N2:FSE) The Company has begun commissioning it's 20 tonne per day E-Waste recycling plant in Surrey, BC, Canada. Although construction is complete minor changes were necessary to several processes and control systems in both the concentrate and chemical portions of the plant. During the commissioning process the Company will be producing high-grade concentrates which will be sold to our down-stream partners.

On October 1st the Company expects the facility to fully operational including the utilization of EnviroLeach's proprietary chemistry to extract the precious metals. The Company currently has 100 tonnes of printed circuit boards, set-top boxes and modems in inventory to process in the initial start-up. The plant will process approximately 1.8 tonnes per hour of these materials. The plant up-time efficiency will start at 25% or 5 tonnes per day. The on-hand inventory will last for an estimated 20 plant days with more materials on order.

E-Scrap Conference

The Company is participating in the E-Scrap Conference and Trade Show from Sept 22 thru Sep 26 in Orlando Florida to meet with representatives from all aspects of the E-Waste management sector including; electronics manufacturers, equipment suppliers, e-waste recyclers, aggregators, refiners and smelters. The Company is looking to take advantage of this opportunity to strengthen existing relationships and forge new alliances and partnerships across the sector.

In October and November, the Company will be showcasing the Surrey plant to numerous potential domestic and international partners and suppliers.

[teq0904]

There is no public info on whether the plant works. Their site explains the economics if it does work. I invested purely to make money, and there is no need for a CFO to load this board with personal issues as they seem imaginary.

[rockraider3]

You are a CFO and ask why it costs money for them to invent, engineer and construct the plant?

First, in your effort to besiege me, you clearly failed to read what I wrote. I said I spent time as a CFO for a start-up. That was written in the past tense. I do not claim to be a CFO.

Second I've said that they have ramped up overhead costs too quickly. You understand the difference between overhead costs and capital costs such as "inventing" and "constructing" the process & facility.... right?

It is amazing the titles that people claim trying to bluff their way on these boards.

I'm sorry you have had bad experiences with other, perhaps its your poor attitude. Regardless, you questioned my experience level and I thought it was a pertinent response. I came here asking if anyone would care to share their investment thesis and asked a number of questions. I didn't come here looking to sell people on my bona fides.

[teq0904]

You are a CFO and ask why it costs money for them to invent, engineer and construct the plant? It is amazing the titles that people claim trying to bluff their way on these boards.
Another guy here claimed the eTI financing 2 years ago was to allow Roth to be a white knight because a hostile bid had formed - interesting claim of his that anyone would bid hundreds of millions of hostile $ for a tech that was under top secret lock and key and hadn't been proven! He claimed to have 40 years of biz experience so we should treat his posts as if they were from the company.

Now you are making new claims that a "CFO" not working there has detected they have ramped up too quickly?

[Smackyd]

I don’t mind conversing. I don’t mind healthy skepticism towards my posts. This is just such a difficult format to reply to really long posts. I did not mean to sound rude. I tend to stick to simple replies and links. I basically only use this app as a quick check if I missed a PR. There are some people who really get carried away on this site. Just check out the PRED message board. It’s like good cop/bad cop combined with a complete separation from reality on both sides.

Email EVLLF, They always reply to me. I have had one of the executives send me his cell phone number to call and discuss issues.

I believe the narrative this company is creating could play out great. But I also realize they are an OTC that has never been cash flow positive. As for what an appropriate amount of cash burn is, I don’t have a reference for this industry besides using mining as a parallel. It cost much more to bring a mine online that it will to bring this plant on. It’s a new process and there will be bumps if it even works.

[rockraider3]

Of course, no one needs to buy anything. Ever.

And yes, I'm just starting to look into this. I like the idea of environmentally friendly solutions, but won't invest in anything just because of that. Good companies with real solutions and great ideas fail all the time. Whether I, or anyone else, buys into what they are doing is irrelevant. Its a question of if the process is real and scalable, can they do it at a profit, are there real barriers to entry, and do they have the right team to execute. Everything else is just noise.

Conversing with people who are already invested is part of the due diligence process. Even the best market analysts do this as a part of their initial deep dive. I like to see what people are thinking.

[rockraider3]

So apparently not the friendliest board on ihub, which is fine. Not my first rodeo nor my first startup. I've spent time as the CFO of a startup. But I do primarily invest in turnarounds, distressed situations, and BK's. Those situations are easier to read. Startups tend to rely upon a lot of hope and luck.

Regardless, you can look at the cash burn here and it's not difficult to assess that they have ramped up overheard too quickly. Just the back of the envelope shows they raised $4.7MM from warrants this year, and have already burned $3MM. At this rate, if they aren't cash flowing for Q4, they need another equity raise in Q4/Q1. But maybe they will cash flow in Q4, I'm not sure what I think about the odds of that yet.

Although even if they do cash flow in Q4, I would still recommend that they access the market, because a blip in the process can throw an entire quarter out the window, and the should operate with plenty of backup liquidity.

[teq0904]

This must be your first start up company investment. They have to invent, engineer and build the plant so it is unrealistic for you to think the overhead should just be nothing until the plant is producing, or for you to think you have any idea how much overhead should be applied to do it considering the closest you have been to the plant is reading some news releases.

[Smackyd]

If you don’t know about MineworX, then you need to familiarize yourself more with the relationship between the two companies and the Vancouver plant. If you are hoping for someone to talk you in to buying this then you don’t need to buy it.

As for smelters only charging x amount per pound. It’s expensive to ship 20 tons of circuit boards to them. Then on top of that you will get 500g/tonne from high quality PCBs that you have to remove all the extra components from first. At $1500/oz gold price that means there is about $500k worth in 20 tonnes. (1 ounce = about 28 grams) So for a 20 tonne shipment you might break even on only the highest grade stuff. I can keep going, but you seem to be oversimplifying the process a company has to through to get the material ready and then get it to a smelter.

E-waste is getting attention from the woke crowd and it won’t be long until some big company starts seriously marketing that they have a recycling program. Burning plastic in a smelter won’t appease the greenies.


https://www.mining-technology.com/features/featureshould-cyanide-still-be-used-in-modern-day-mining-4809245/

It’s only a matter of time before cyanide is no longer used.

They talk about all of this in their financials and financial summaries. Do your own due diligence. The fact that you know very little about MineworX tells me you are just starting to look into this.

Don’t rely on anything I say. Either the narrative they are building is something you buy or it’s not.

[rockraider3]

If they can prove this process works on a large scale and become cash flow positive then they can survive to get into other areas.

This is the cloud over the company right now. I'm sure they can get this up and running on a large scale. It might take longer than expected, but most companies can source people capable enough to do this. The question is if they can do it on a positive cash flow basis, and I have my doubts about that. Doubts created by the significant amounts of overhead that they lumped on this business already while they generate negative cash flow already. Plus the input costs look completely out of whack, and I don't know that they can source e-waste material cheaper. Its not cheap when it sells at $4/lb in the market and you have outfits that will 'refine' it for private parties at $1.35/lb. I can't see the path to 30%+ operating margins yet, which they put in their presentation.

Is this where Jabil comes in? I have no idea what that arrangement is or how it benefits the Company or might impact their cash flows. I'm kind of hoping this is what I am missing here. Because I'm either missing something, or this company is FAR too optimistic in their ability to turn a profit.

There are some really high grade gold discoveries in jurisdictions that don’t allow cyanide and acid leaching.

Do you have examples of these? Who are these mine/mining companies that we expect to partner with that otherwise can't run without EnviroLeach's solutions?

If this plant can do enough to produce an income stream for EVLLF and MWXRF

What is the affiliation with MWXRF now? I know it was spun out. Do they have an agreement to process their materials? Is their BC facility located near MWXRF's mine?

As for those companies that will “refine” PCBs. They are horrible polluters.

Yes, but unless (or until) there are regulations in place to force these companies to act more environmentally friendly, they are an alternative to EnviroLeach. And it looks to me, that they are a far more profitable alternative to the person who is looking to recycle PCBs.

I'd really like to see the company provide their e-waste input costs in their next MD&A. Are they getting it for below market prices? If so, how, and is that sustainable? Everyone in that food chain has to get paid, and recycled PCB and e-waste material does just source itself to their doorsteps.

separate all the fractions including the resins for recycling

I like the sound of that as a human being populating the planet, but I'm not sure that makes for much of an income stream.

Does anyone have any idea how much more capital they really need to reach the point of proving the viability and scalability of their process? Is that done, or how much more capital do they need to reach that point?

[Smackyd]

If they can prove this process works on a large scale and become cash flow positive then they can survive to get into other areas. There are some really high grade gold discoveries in jurisdictions that don’t allow cyanide and acid leaching. If this plant can do enough to produce an income stream for EVLLF and MWXRF to be cash flow positive and demonstrate the effectiveness of their methods then there becomes a real possibility of joint ventures and partnerships in mining.

As for those companies that will “refine” PCBs. They are horrible polluters. For a company looking for end of product life recycling solutions they are not a marketable option. EVLLF can supposedly separate all the fractions including the resins for recycling. Instead of just burning off all the non metals they allegedly create multiple recycling streams and produce very little waste. This would appeal to the greener minded and fit the narrative of higher profile companies that love that kind of PR.

It all boils down to if this plant can actually do this on a large scale.

I am fortunate in my position in this company and it’s one of the few recently I have moved in and out of at the right time to the point I am on a free roll. I am going to let this story play out. Hope this helps.

[rockraider3]

Anyone care to share their investment thesis (beyond the obvious that is on the company website and presentation)?

Views on the potential margins? With 'high grade' circuit board scrap trading at $4/lb (US), I don't see how they can generate 30%+ gross margin. Not unless metals prices really jump, but then I'd expect the scrap PCB costs to increase too.

How do they compete with refiners who will process 5,000lbs of circuit boards for $1.35/lbs plus a $350 processing fee, and either hand over the metals or cut you a check for the value at the end? https://www.specialtymetals.com/smelting-refining/electronics-circuit-boards

Why are overhead costs so out of hand? Presumably they are hiring to gear up for growth, but why burn all the cash before you even generate revenue.

What is the agreement with Jabil? What is EVLLF getting out of this?

Thoughts on the two patents pending? In process since 2016...

What is the capacity of the facilities? How many tons through put can it handle each year? What do they intend to operate at?

What is going on in Memphis? Is that a second facility?

What kind of breakdown are they expecting for revenue from e-waste vs mining?

[teq0904]

The July update said the plant starts up in Sept. so it has only been 2 weeks since an update, and could be 2 months from now.

[Smackyd]

Fingers crossed. Two months since an update is a long time. I hope it’s big news about the plant.

[bigone]

HERE'S HOPING FOR GOOD NEWS SOON.

[teq0904]

If wishes were horses, I would ride one to work. There is no update on another company (totally different business space) that I follow who started their plant in mid August and the natives on that board are very restless.

[bigone]

It would be nice to hear something positive.

[teq0904]

They are not scheduling a news release so it is anyone's guess when we get an update.

[bigone]

Here's hoping. Thanks for the updates.

[teq0904]

They probably used the fork lift operator that was hired in May for batches. https://investorshub.advfn.com/boards/read_msg.aspx?message_id=148978457
Now a plant manager and the other hires will try to make the whole plant run continuously.
Perhaps an update will come this week.

[bigone]

Thanks for the update. Looks like September is going to make it happen?

[teq0904]

Looks like startup has occurred. These ads are 7 days old, some of the positions are low skilled so there are lots of candidates for a quick fill, and they don't hire people to stand around.
https://ca.indeed.com/jobs?q=enviroleach&l=Surrey,+BC&ts=1567205117260&pts=1564093647075&rs=1

[bigone]

Thank you teq0904.

[teq0904]

Register here, then under alerts, set up a news alert for ETI the Canadian symbol. You get an email at the moment the news is sent out so there is no need to hunt for it.
https://web.tmxmoney.com/account/login-register.php?qmLoginType=portfolio&qmReqSymbol=

[bigone]

Thanks so much for sharing Smackyd. This is great news.

[bigone]

I am unfamiliar with retrieving news. I tried everything that had news in the title to no avail.

[Smackyd]

https://www.marketwatch.com/press-release/enviroleach-technologies-inc-q2-corporate-update-2019-07-15-5184030?mod=mw_quote_news

[Ruffieruff]

ETI is the Canadian symbol. It shows up under that symbol under iHub news.

[bigone]

I put in ETI and it does not appear for me. I also went to the company's website, but nothing new added this month , so far???

[bigone]

Thank you.

[Ruffieruff]

Update out. Very interesting. It shows up under symbol ETI.

[bigone]

Thank you for the heads up. It would be great to hear that the process is now debugged, and ready to roll.

[teq0904]

Update is coming this week, hopefully about operations instead of a construction note.

[bigone]

Will do. I am getting anxious.

[georgie18]

Have no idea...just have to check the wires...