AveragePenny
3 years ago
$BCCEF $BAC.CN BacTech Announces AGM Results
https://api.quotemedia.com/supplement/news-story/?webmasterId=501&storyId=4630279802324396
TORONTO, ON. - TheNewswire - September 16, 2021,– BacTech Environmental Corporation (OTC:BCCEF ) ( CSE:BAC) (CNSX:BAC.CN) (“BacTech or the Company”), a commercially proven environmental technology company delivering effective and eco-friendly biomining and remediation solutions, is pleased to announce the results of the Company’s Annual General and Special Meeting of Shareholders held online earlier today.
All resolutions passed with significant majorities. Shareholders voted in favour of;
- the election of all director nominees: Timothy Lewin (Chair), Ross Orr, Donald Whalen, Jay Richardson, Jay Naster and Walter Cimowsky.
- fixing the number of directors at six for the coming year;
- the re-appointment of Auditors;
- the ratification of the stock plan; and
- the ratification and waiver of past Annual and General Meetings.
Finally, the Company announced that it has granted stock options to certain directors, insiders, and consultants in the amount of 1.2M options. The options are for five years and are exercisable at $0.15 and will expire on September 16, 2026. The options are fully vested.
TradeForProfits
4 years ago
$BBCEF MOU to fund Ecuador plant! https://www.otcmarkets.com/stock/Bccef/news/story?e&id=1787214
BacTech Environmental Corporation (“BacTech” or the “Company”) (CSE:BAC) (CNSX:BAC.CN) (OTC:BCCEF)today announced that it has signed a Memorandum of Understanding (“MoU”) with a private equity group in Europe to fully fund a proposed bioleach plant in Ecuador.
The MoU, subject to completion of due diligence, outlines how a private group based in Europe (“Euro Group”) can obtain a 50% interest in BacTech’s proposed bioleach plant in exchange for providing 100% of the necessary financing. The Euro Group has required anonymity at this stage of the process with BacTech. The MoU outlines an investment to be made by purchasing shares in BacTech’s 100% owned Ecuador subsidiary. The agreement is subject to completion of the group’s due diligence and subsequently BacTech producing suitable bioleach test results on material from Ponce Enriquez.
“Obviously this is a big step forward for us. We always knew the first plant would be the toughest to finance so this agreement provides us with some comfort going forward. If the bioleach results are positive, both parties will then move to execute a Joint Venture agreement (“JV”) to complete the project. The project will be carried out in BacTech’s subsidiary in Ecuador thereby limiting the dilution in the parent, public company,” said Ross Orr President and CEO of BacTech.
The proposed investments will be made in the following fashion.
1. US$100,000 to earn 5.8% of the subsidiary. The funds will be earmarked for the completion of the bioleach test work at ALS Labs in Perth, Australia under the guidance of Dr. Paul Miller. In the event of an unsuccessful bioleach test program, the Euro Group can convert their investment to BacTech common shares at this stage.
2. US$300,000 to earn an additional 10.3% of the subsidiary. The funds will be used to complete a Feasibility Study and begin the process to obtain the necessary permits from the government.
3. US$300,000 to earn an additional 7.5% of the subsidiary. The funds will finance detailed engineering using the flow chart established from the bioleach results.
4. Upon arranging the financing for the plant construction, Euro Group will earn an additional 26.4% bringing their total ownership to 50% of the subsidiary.
Once the due diligence is completed and the first payment of US$100,000 has been made, the bioleach test work will begin at ALS Labs in Perth, Australia under the guidance of BacTech’s Dr. Paul Miller.
BacTech recently negotiated with the owners of 6 mines to collect concentrate samples from mines in Ponce Enriquez, Ecuador. Assay and metallurgy results for the concentrates were press released on Dec 2, 2020 and confirmed the high-grade gold values of the concentrates. In addition, the assays revealed high levels of arsenic in the concentrates. It is the combination ofthese values that has attracted the Company to Ponce Enriquez given bioleaching not only liberates gold from refractory ore but also produces a stable ferric arsenate from the arsenic.
In summary, BacTech is investigating the prospects of a build/own/operate bioleach facility to be based in Ponce Enriquez, Ecuador. The selection of Ponce Enriquez is driven by the extremely high levels of arsenic that is associated with gold in the +90 small mines in the area which attract high penalties in smelting. Presently, the miners are forced to sell their production at reduced prices to Asian buyers due to the high arsenic values in the concentrates and accept lower financial returns. BacTech proposes to pay better prices for the miners’ material, by eliminating penalties for arsenic, and process higher grade gold to reduce overall refining costs.Given the current price of gold, BacTech believes, through its internal modelling, that the plant will be economically viable.
This concept can be repeated in areas of Peru, Colombia and Central America where arsenic is known to exist alongside gold mining.
TradeForProfits
4 years ago
Assay results out! Showing up to 2.24 oz/t for $BCCEF
https://www.otcmarkets.com/stock/bccef/news/story?e&id=1757366
BacTech Receives Assay Results of Up to 2.24 Oz Gold Per Tonne
(via TheNewswire)
Toronto, Canada –TheNewswire -December 3, 2020
BacTech Environmental Corporation(OTC:BCCEF) (CSE:BAC)(CNSX:BAC.CN)(“BacTech or the Company”) today announced the assay results for the six concentrate samples collected from small mine producers in Ponce Enriquez, Ecuador. The area is known for its production of gold rich arsenopyrite material. The assay work was conducted by ALS Laboratories in Vancouver, Canada.
“The results were all relatively close to the stated grades provided by the miners at the time we collected the samples with a single exception, the reason for which is being investigated.
“Now that we have confirmed the positive magnitudes, with respect to gold and arsenic values, we can begin the next phase of the project which will be the bioleach test work. Concentrate will be shipped to Perth, Australia where the test work will be conducted at ALS’ metallurgical laboratory under the guidance of BacTech’s Dr. Paul Miller. A full report of the test work will be available in 5-6 months from the onset of the test program,” concluded Orr.
------------------------------------------------------------------
|Sample |Received|Gold |Value per tonne|Silver |Arsenic |
| |Weight |(ounces)/t|(contained Au) |(ounces)/t|per tonne|
| |(kg) | |$1900/oz | |(%) |
|----------------------------------------------------------------|
|#1 |0.25 |1.19 |$2260.00 |4.55 |1.24 |
|----------------------------------------------------------------|
|#2 |0.25 |0.61 |$1160.00 |5.16 |18.0 |
|----------------------------------------------------------------|
| |0.26 |2.24 |$4256.00 |4.20 |33.0 |
| | | | | | |
| | | | | | |
| *#3 | | | | | |
|----------------------------------------------------------------|
| |0.26 |0.22 |$418.00 |0.65 | 0.4 |
| **#4 | | | | | |
|----------------------------------------------------------------|
|#5 |0.27 |0.90 |$1710.00 |2.70 |14.9 |
|----------------------------------------------------------------|
|#6 |0.26 |0.40 |$760.00 |1.39 |6.45 |
------------------------------------------------------------------
*This sample reported 9.64% copper in concentrate
**It is assumed that sample #4 was incorrectly submitted as tailings material given the difference in gold value vs the other samples submitted for assay.
Sample #2 reported copper values of 9.64%. With the recent resurgence in the price of copper an investigation will be conducted to see if a copper by-product can be produced for sale. The most likely conclusion, with respect to the presence of copper, would be that the material is enargite. BacTech is considering shipping this material to Laurentian University to conduct a desk top study similar to the test program conducted on the original mineral samples from Ecuador. The test work would determine the ability of bioleaching to produce both gold and copper metal.
An interesting aspect of the mineral processing in Ponce Enriquez has been identified by BacTech’s Bernardo Brito. Mr. Brito has been in active discussions with various mines sourcingconcentrate for test work. A common theme of processing has emerged with respect to suppressing arsenic in the floating of concentrates to reduce the arsenic content and the associated penalties imposed by Asian smelters. This has the consequence of also suppressing gold recovery as the amount of gold that reports to the concentrate is below what normal flotation methods would provide. BacTech’s approach of not charging penalties on arsenic will allow the miner to produce a higher grade of gold concentrate. BacTech’s bioleach technology is highly amenable to treating concentrates with very high arsenic contents and therefore does not have the same constraint as producing concentrates for smelting.
“What we are seeing are the miners trying to tailor their production to lower the arsenic they deliver in the concentrates. This leads to lower gold grades in the concentrates and less value to the miner. We hope to change this by encouraging them to not worry about the arsenic grade and focus on gold recovery,” added Orr.
The bioleach test work to be conducted in Perth will involve three separate tests. Two samples of the material that were assayed in Vancouver at ALS had already been contacted with cyanide by the miner to recover the gold that was not refractory. As high levels of residual cyanide compounds can be detrimental to the bacteria, these two sample will be subjected to a simple pre-treatment process before any bioleach test work is started. The third test will use a composite of samples which have not previously been subjected to cyanidation. From the reported samples it is recommended that bioleach test work be undertaken on samples #1, #3 and #5. According to assay records of the mine the magnitude of gold in sample #4 should be much higher. Investigations will be pursued to evaluate the reasons for this anomaly.
With respect to other projects being pursued by BacTech , the Company is still awaiting the reopening of travel within Colombia . When access is approved BacTech and MetalTec will engage a third-party for sampling of the gold/platinum tailings that was announced by BacTech on August 10, 2020.
In summary, BacTech is investigating the prospects of a build/own/operate bioleach facility to be based in Ponce Enriquez, Ecuador. The selection of Ponce Enriquez is driven by the extremely high levels of arsenic that is associated with gold in the +90 small mines in the area which attract high penalties in smelting . Presently, the miners are forced to sell their production at reduced prices to Asian buyers due to the high arsenic values in the concentrates and accept lower financial returns. BacTech proposes to pay better prices for the miners’ material, by eliminating penalties for arsenic, and process higher grade gold to reduce overall refining costs. This concept can be repeated in areas of Peru, Colombia and Central America where arsenic is known to exist alongside gold mining.
Qualified Person Statement
All technical information disclosed in this news release was approved by Gary Williams, MSc., P.Geo., who is a Qualified Person as defined by NI 43-101. He has reviewed and approved this news release.
ABOUT BACTECH
BacTech is promoting the use of its proprietary bioleach processing technology to treat historic arsenopyrite concentrates and tailings produced in the Ponce Enriquez area of Southern Ecuador. The Company is also awaiting the reduction in government imposed Covid restrictions in Colombia where BacTech will investigate a gold/platinum tailings project.
For further information contact:
Ross Orr,
President & CEO, BacTech Environmental Corporation
416-813-0303 ext. 222,
Cell 416-346-5529 and
Email:borr@bactechgreen.com
Website:www.bactechgreen.com
Follow us on:
Facebook http://www.facebook.com/BacTechGreen Twitterhttp://twitter.com/BacTechGreen
LinkedIn http://www.linkedin.com/company/1613873 Vimeo http://vimeo.com/bactechgreen YouTube http://www.youtube.com/user/bactechgreen
Special Note Regarding Forward-Looking Statements
This news release contains “forward-looking information”, which may include, but is not limited to, statements with respect to future tailings sites, sampling or other investigations of tailing sites, the Company’s ability to make use of infrastructure around tailings sites or operating performance of the Company and its projects. Often, but not always, forward-looking statements can be identified using words such as “plans”, “expects”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates”, or believes” or variations (including negative variations) of such words and phrases, or state that certain actions, events or results “may”, “could”, “would”, “might” or “will” be taken, occur or be achieved. Forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements. Forward-looking statements contained herein are made as of the date of this news release and the Company disclaims, other than as required by law, any obligation to update any forward-looking statements whether because of new information, results, future events, circumstances, or if management’s estimates or opinions should change, or otherwise. There can be no assurance that forward-looking statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, the reader is cautioned not to place undue reliance on forward-looking statements.
Shares outstanding: 116,914,667
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
This press release does not constitute an offer to sell or a solicitation of an offer to buy any of the shares, nor is it a solicitation of interest from a prospective investor.
SamTheTrader
4 years ago
GM... Absolutely
What you found is totally great info, Sam!
Quote:
When I I found out about this ...I bought in and Im holding for .05 min
NEWS
BacTech Takes Steps to Improve Balance Sheet Reduces Debt by $1.65M
(via TheNewswire)
Toronto, Canada -TheNewswire - August 20, 2020 -BacTech Environmental Corporation("BacTech" or the "Company"), (CSE:BAC) (CNSX:BAC.CN) (OTC:BCCEF) today announced significant balance sheet improvements with respect to outstanding debt obligations.
"Management of the Company, who have been accruing salaries for over 3 years, have agreed to a voluntary forgive the indebtedness from accruing compensation owing to them as of June 30th, 2020 ($1.244M). In its place BacTech will issue 2.5M stock options exercisable at $0.05 for 10 years to certain employees and consultants who forfeited their compensation." stated Ross Orr, President and CEO.
In addition, an arm's length holder of $200,000 face value of debentures that mature in August ($100,000) and September ($100,000) requested that the Company issue 5,076,260 common shares at a deemed price of $0.05 per share to eliminate their $253,813 debenture and the accrued interest as of August 15, 2020. A second arm's length debenture holder has agreed to convert 50% of their $175,000 debenture holdings into common shares and 100% of the accrued interest at $0.05 per share. These transactions will result in the issuance of 3,083,340 common shares and reduces $154,167 in debenture and interest owing. All common shares issued through these transactions will be subject to a 4 month hold period effective August 17th, 2020. Both of these conversions were at the request of the holders.
The above agreements are subject to regulatory or CSE approval, if applicable, andcompleting the required filings with the security exchange
$BCCEF
EdenTrader
4 years ago
What you found is totally great info, Sam!
When I I found out about this ...I bought in and Im holding for .05 min
NEWS
BacTech Takes Steps to Improve Balance Sheet Reduces Debt by $1.65M
(via TheNewswire)
Toronto, Canada -TheNewswire - August 20, 2020 -BacTech Environmental Corporation("BacTech" or the "Company"), (CSE:BAC) (CNSX:BAC.CN) (OTC:BCCEF) today announced significant balance sheet improvements with respect to outstanding debt obligations.
"Management of the Company, who have been accruing salaries for over 3 years, have agreed to a voluntary forgive the indebtedness from accruing compensation owing to them as of June 30th, 2020 ($1.244M). In its place BacTech will issue 2.5M stock options exercisable at $0.05 for 10 years to certain employees and consultants who forfeited their compensation." stated Ross Orr, President and CEO.
In addition, an arm's length holder of $200,000 face value of debentures that mature in August ($100,000) and September ($100,000) requested that the Company issue 5,076,260 common shares at a deemed price of $0.05 per share to eliminate their $253,813 debenture and the accrued interest as of August 15, 2020. A second arm's length debenture holder has agreed to convert 50% of their $175,000 debenture holdings into common shares and 100% of the accrued interest at $0.05 per share. These transactions will result in the issuance of 3,083,340 common shares and reduces $154,167 in debenture and interest owing. All common shares issued through these transactions will be subject to a 4 month hold period effective August 17th, 2020. Both of these conversions were at the request of the holders.
The above agreements are subject to regulatory or CSE approval, if applicable, andcompleting the required filings with the security exchange
$BCCEF
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