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.
