Miami, FL – July 17, 2020 (EmergingGrowth.com NewsWire) — EmergingGrowth.com, a leading independent small cap media portal with an extensive history of providing unparalleled content for the Emerging Growth markets and companies, reports on Bactech Environmental Corp. (OTC Pink: BCCEF), (CSE: BAC).
Gold prices have exploded through the $1800 level with the September futures hitting a high of $18303per ounce on the Chicago Mercantile Exchange (CME). Metal analysts have begun talking about the next the assault on the psychological barrier of $2000 per ounce .
BacTech Environmental (OTC:BCCEF, CSE:BAC) believes that increasing gold prices will encourage producers in Ponce Enriquez to expand their production of gold to take advantage of these higher prices. Of course, with that expanded production there will be more arsenic gold produced.
Earlier the Company press released the tonnage and makeup of concentrates produced by 6 hand-picked processors of arsenopyrite (gold+arsenic+iron+sulphur) in Ponce Enriquez. Should all 6 processors sell their output to BacTech for their proposed bioleach plant one can extrapolate the annual production of gold. Assuming a bioleach plant processes 50 tonnes per day (tpd) of concentrate at the stated grade from the press release of 43 grams per tonne (or 1.4 ounces per tonne), annual gold output would be approximately 25,000 ounces per year or $45M per annum. As stated previously, bioleaching is a modular technology and production could be doubled without impacting the original plant. Since bioleaching costs are constant (per tonne) any increase in the price of gold falls directly to the bottom line with respect to profitability.
Readers should watch for news from the senior gold producers such as Barrick Gold (NYSE:GOLD), Newmont Mining (NYSE:NEM), Franco Nevada (NYSE:FNV) and Yamana (NYSE:AUY) inferring expansion of current production or the dusting off of projects that were deemed not economic at lower gold prices.
Enjoy the following video on this topic:
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.
BacTech has agreed to participate with a group looking to reprocess the Arsenic Stockpile in Snow Lake, Manitoba as a technology partner.
For further information contact: Ross Orr, President & CEO, BacTech Environmental Corporation/ 416-813-0303 ext. 222, Cell 416-346-5529 and Email:firstname.lastname@example.org
Robin Cook, Investor Relations: 416-809-1738, Email:email@example.com
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