BacTech Environmental Announces Bankable Feasibility Study Results Confirming Strong Economics for Ecuador Bioleaching Project
BacTech Environmental, a commercially proven environmental technology company delivering effective and eco-friendly biomining and remediation solutions, today released results of a 3rd party produced Bankable Feasibility Study for the staged development of its 100% owner-operated bioleaching facility in Ecuador. The results point toward a very robust and economically compelling project with strong performance metrics.Highlights from the Bankable Feasibility study included a robust pre-tax Net Present Value of $46.9 million and a pre-tax IRR of 48%. At a capital cost of just $15.5 million, the operation could potentially produce almost 26,000 ounces of gold and have a payback period of less than 2 years. Thanks to its leverage to rising gold prices, the study’s economics increase to a net present value of $65 million at $1,900 gold prices.The feasibility study contemplates purchasing concentrates that are high in both arsenic and gold from mines located in Southwest Ecuador. In total, BacTech reports that there are more than 90 small mines operating in the area. The company intends to return local miner compensation back to previous payment levels, prior to a sweeping price reduction imposed by Chinese buyers due to recent import levies on arsenic-gold concentrates entering China.-Said BacTech CEO Ross Orr- These results exceed my own expectations and provide a significant confidence boost for our proposed bioleaching project to move forward. What we’re looking at are some very healthy numbers that place us firmly in control of our triple bottom line – being People, Planet and Profit. You could say this project has ticked all the boxes for investment as well as from an ESG perspective. As demand for greater environmental responsibility increases across the mining and resource sectors, interest in using natural bacteria in a wider variety of commercial applications to extract valuable metals is also accelerating,-The company believes there is also significant room for growth due to the large local concentrate market, which would allow for increase throughput and additional output with a larger plant. And because the plant designs are modular, it can be expanded without affecting ongoing production or creating significant downtime.BacTech also continues to investigate the prospects of establishing additional modern bioleaching facilities across other areas of Ecuador, Peru, and Colombia. Where possible, the Company will partner with national and local governments, non-governmental organizations, and others to assist with the funding of these projects.Shares of BacTech Environmental trade on the CSE under the symbol BAC and on the OTC under BCCEF. To learn more visit www.bactechgreen.com Green Stock News is a 21st-century broadcast media company that enhances corporate access for public companies through the distribution of news, interviews, and original content across the web and through social media.Subscribe to https://www.greenstocknews.com for Daily Green Stock News. --- Send in a voice message: https://anchor.fm/greenstocknews/message