Great news out today for ESGLF / NVRO.C
Re::EnviroGold Global to Build Demonstration Plant in Brisbane, Australia
C.NVRO | 7 hours ago
Centralized Demonstration Facility Will Process Tailings from Multiple Mining Sites
TORONTO, April 25, 2024 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK) (“EnviroGold,” “NVRO,” or the “Company”), a technology company enabling the global mining industry to monetize valuable metals contained in mine waste and tailings, reduce environmental liabilities and improve social and environmental outcomes, is pleased to provide an update on the Company’s plans to demonstrate and commercialize its proprietary leaching technology (“NVRO Clean Leach Process”).
EnviroGold has selected a manufacturer to construct the processing unit that will be used to demonstrate the NVRO Clean Leach Process to several potential customers, including major global mining companies. In addition, EnviroGold has received an indicative quote for the construction and containerization of the unit, which is materially less than initially estimated. The Company expects these developments will allow it to commence commercial demonstrations of the NVRO Clean Leach Process during the fourth quarter of 2024.
The Company has received interest from several major mining companies asking that it locate the NVRO Clean Leach Process processing unit at their mine sites. To better streamline the testing process and serve multiple clients in quick succession, the Company has opted to construct and install the unit at a centralized industrial facility near Brisbane, Australia, managed by the EnviroGold technical team. There are several benefits of installing the processing plant at a centralized location, which include, allowing multiple mines to ship tailings for processing and testing, eliminating regulatory and environmental permitting issues associated with mine site development, and allowing the Company to decrease turnaround time between mining company demonstrations.
Under this arrangement, customer tailings will be transported to the NVRO demonstration facility, processed using the NVRO Clean Leach Process with the residues transported back to the mine for disposal. The tailings throughput and data collected throughout each project’s tailings processing operations will be sufficient to enable customers to proceed to scale up, front end engineering, and design and project economic assessments.
In addition to allowing multiple mine sites to test the NVRO Clean Leach Process, the demonstration plant will allow the Company to extrapolate its findings into the necessary data for the bankable feasibility study (“BFS”) required to fully commercialize the business. The Company believes that having this will dramatically reduce timelines for major mining companies to deploy the NVRO Clean Leach Process on a much larger commercial scale.
“This is a very exciting development that we expect will decrease the time and cost to begin showcasing the NVRO Clean Leach Process and allow the Company to demonstrate its technology to more customers in less time,” said the Company CEO, Mr. David Cam.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
About EnviroGold Global
EnviroGold Global is a technology company that uses proprietary technologies to enable mining companies worldwide to recover valuable metals from mine tailings and reduce the environmental liabilities of wastes and by-products from mining while maximizing return for its shareholders. The Company is dedicated to establishing ESG and circular economy leadership by enabling mining companies to profitably reprocess and remediate mine waste (tailings) and smelter by products to recover precious, critical, and strategic metals – including gold, silver, copper, zinc, and nickel. The Company has adopted a royalty model for its technology by licensing the NVRO process to customers.
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