TORONTO, Aug. 21, 2024 (GLOBE NEWSWIRE) — EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF | FSE: YGK) (“EnviroGold,” or the “Company”), a technology company enabling the global mining industry to monetize valuable metals contained in mine waste and tailings, reduce environmental liabilities and improve social and environmental outcomes, is pleased to provide the following corporate and operational update.
Demonstration Plant – the previously announced demonstration plant is currently being commissioned at the Company facility. The demonstration plant, acquired from the Australian government, Commonwealth Scientific and Industrial Research Organisation (CSIRO) was designed as a nickel leaching plant and has been repurposed for the NVRO Clean Leach Process with a replacement value significantly greater that its purchase price. The reinstallation and commissioning process is running ahead of time and under budget. The Company expects to commence processing customer tailings through the plant in the coming weeks and will provide updates as they become available.
Commercialisation Project Team – the Company is pleased to announce the appointment of several key consultants that will work with the EnviroGold Team to ensure the commissioning and commercialisation of the NVRO Clean Leach Process is a success. The new consulting team members are:
Lisa Park, BSc. Chemical Engineering. MSc. Applied Finance is a Fellow of AusIMM, Chair of AusIMM Consulting Society and a registered engineer. Lisa is a technical specialist in hydrometallurgy and a Qualified Person with deep experience in project development and commercialisation.
Jason Amaranti, BSc. Metallurgy is principle of Fremantle Metallurgy, a boutique metallurgical processing laboratory that specialises in flowsheet development, construction and commissioning. Jason is overseeing the repurposing and commissioning of the Company’s demonstration plant.
Trevor Bilney, BSc. Applied Science Metallurgy is a technical leader in process engineering, metallurgy and project management with a focus on safety, risk management and continuous improvement.
The Company welcomes Lisa, Jason & Trevor to the team who together bring many years of technical and commercial experience in the mining sector focused on plant operations, project economics and techno/economic reporting to the EnviroGold Team.
Team bios can be found on the Company’s web site at: https://envirogoldglobal.com/corporate/
Private Placement and Strategic Partners – the Company has kept the previously announced private placement open due to continuing interest from investors in the Company. The Company has raised an aggregate of $1,378,764, after increasing the size of the private placement to $2.0 million dollars. The Company anticipates closing an additional tranche of the private placement on or before August 29.
The Company’s previously announced engagement with Sequoia Corporate Finance Pty. Ltd. (“Sequoia”) is also progressing. The Company is in discussion with several potential value-add strategic partners and investors introduced by Sequoia. These discussions are in the early stages of due diligence and the Company is evaluating its options to determine the most suitable strategic direction forward.
Customer Engagement – the Company has increased its customer engagement activity to align with the availability of the demonstration plant to process customer tailings and provide techno/economic analysis of the benefits of the NVRO Clean Leach Process. EnviroGold’s top 11 target customers contain in excess of 336 million tonnes of mine tailings representing over US$95 billion in-situ metal value providing NVRO with an estimated US$5.1 billion revenue opportunity.
Deloitte – the Company has engaged Deloitte to assist in securing government grants to support the development and commercialisation of the NVRO suite of mine tailings technologies. Products expected to be further developed and commercially released in 2025 include a nickel recovery solution and an iron beneficiation technology. These technologies not only represent additional revenue opportunities for the Company, but also offer significant economic and environmental benefits to its customers.
In addition, the Deloitte engagement will be extended to include a detailed analysis of the environmental and social benefits to the Company’s customers that use the NVRO Clean Leach Process. This process recovers precious and critical metals from mine tailings while simultaneously reducing environmental liabilities and improving both environmental and social outcomes. A link to EnviroGold’s latest corporate presentation outlining the economic and environmental value proposition of the NVRO Clean Leach Process is available on the company website at www.envirogoldglobal.com
Communication Channels – the Company is dedicated to maintaining transparency through continuous disclosure and consistent, informative corporate updates. We are excited to announce the launch of NVRO TV, a new social channel that will provide Company and operational updates, alongside our regular news releases. You can access the channel at: https://www.youtube.com/@NVROTV
Retiring Directors – the Company would like to acknowledge the retiring Directors, Ms. Varris and Mr. Higson-Smith and thank them for their contribution to the development of EnviroGold during their tenure on the board and wishes them well with their future endeavors.
About EnviroGold Global
EnviroGold is a technology company enabling the global mining industry to monetise valuable metals from mine waste and tailings and reduce environmental liabilities. EnviroGold’s proprietary technology is at the leading edge of demand for precious and critical metals and greater social demand for better environmental outcomes. The Company operates on a technology license fee model with low capex requirements and intends to establish itself as a leading global technology company focussed on shareholder value.
Contact
Mr. David Cam, CEO
Telephone: +1 281 851 7743
Email: [email protected]
Forward-Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements. Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements pertaining to the Company’s expectation to commence processing customer tailings through the plant in the coming weeks, closing an additional tranche of the private placement on or before August 29, 2024, the Company’s discussions with several potential strategic partners and investors introduced by Sequoia and the outcomes of these discussions, products expected to be further developed and commercially released in 2025, any revenue opportunities for the Company, or significant economic and environmental benefits to the Company’s customers, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
Neither the Canadian Securities Exchange nor its Market Regulator (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any jurisdiction in which such offer, solicitation or sale would be unlawful. This press release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities described herein in the United States. The securities described in this news release have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”) or any state securities laws and may not be offered or sold within the United States or to U.S. Persons unless registered under the U.S. Securities Act and applicable state securities laws or an exemption from such registration is available.
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