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.
Contact
Mr. David Cam, CEO
Telephone: +1 416 842 9003
Email: InvestorRelations@EnviroGoldGlobal.com
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 use of funds from the Financing and the anticipated closing date of the Financing, 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.
