EnviroGold Global Plans to Construct Demonstration Plant in Brisbane, Australia
EnviroGold Global Limited [CSE-NVRO; OTCQB-ESGLF; FSE-YGK], a technology company focused on enabling the mining industry to monetize valuable metals in mine waste and tailings, has announced its plans to build a demonstration plant in Brisbane, Australia. The centralized demonstration facility will process tailings from multiple mining sites, presenting a significant milestone for the company.
The construction of the demonstration plant will allow EnviroGold to showcase its proprietary leaching technology, known as the NVRO Clean Leach Process, to potential customers, including major global mining companies. This technology aims to reduce environmental liabilities, improve social and environmental outcomes, and enable the recovery of valuable metals contained in mine waste.
EnviroGold has carefully selected a manufacturer to construct the processing unit that will be used for the NVRO Clean Leach Process demonstration. Additionally, the company has received an indicative quote for the construction and containerization of the unit, which is significantly lower than the initial estimates. These developments pave the way for the commencement of commercial demonstrations during the fourth quarter of 2024.
To streamline the testing process and efficiently serve multiple clients, EnviroGold has decided to construct and install the processing unit at a centralized industrial facility near Brisbane, Australia. The EnviroGold technical team will manage this facility, which offers several advantages for both the company and its clients.
By consolidating the processing plant at a centralized location, multiple mines can conveniently ship their tailings for processing and testing. This eliminates the regulatory and environmental permitting issues associated with establishing processing plants at individual mine sites.
The demonstration plant not only allows multiple mine sites to test the NVRO Clean Leach Process but also facilitates the collection of data necessary for the bankable feasibility study (BFS) required to fully commercialize the business. EnviroGold anticipates that this data will significantly reduce timelines for major mining companies to deploy the NVRO Clean Leach Process on a larger commercial scale.
CEO of EnviroGold Global, Mr. David Cam, expressed his excitement about the project, stating that it will decrease the time and cost required to showcase the NVRO Clean Leach Process. He believes that this demonstration plant will enable the company to demonstrate its technology to more customers in less time.
EnviroGold’s 52-week share price range has been .24-.03, last traded at 0.04 as of April 25 with 201m shares outstanding and a market cap of $8,062,000.