BacTech Metallurgical Solutions Ltd. Reports Results For The Nine Months Ended June 30, 1998.TORONTO--(BUSINESS WIRE)--Aug. 25, 1998--BacTech Metallurgica (CANADIAN DEALING NETWORK Canadian Dealing Network (CDN) The organized OTC market of Canada. Formerly known as the Canadian Over-the-Counter Automated Trading System (COATS), the CDN became a subsidiary of the Toronto Stock Exchange in 1991. :BACO BACO British Academic Conference in Otolaryngology ) BacTech Metallurgical met·al·lur·gy n. 1. The science that deals with procedures used in extracting metals from their ores, purifying and alloying metals, and creating useful objects from metals. 2. Solutions Ltd. reports results for the nine months ended June 30, 1998. Revenues for the period were $249,300 (1997 - $819,900) with an operating loss operating loss The excess of operating expenses over revenue. As with operating income, operating losses exclude revenues and expenses from operations that are not considered a regular part of the business. Also called deficit. Compare operating income. of $986,700 (1997 - $756,300) or $0.12 per share (1997 - $0.12). Copper Leach Technology The small-scale continuous plant trial at Mount Lyell Mount Lyell can refer to:
Plans for a one ton per day demonstration plant are now being advanced with certain copper producers, in parallel with the discussions on an agreement to construct a commercial scale plant in which BacTech will have significant participation rights. Refractory refractory Material that is not deformed or damaged by high temperatures, used to make crucibles, incinerators, insulation, and furnaces, particularly metallurgical furnaces. Gold Technology An Australian company, Allstate Exploration has advised its intention to use BacTech/Mintek technology for the treatment of a refractory gold concentrate at the 120,000 ounces per year, Beaconsfield Mine in Tasmania, Australia. This represents a significant endorsement of the advantages of our refractory gold technology. The plant is due to be commissioned in the third quarter of 1999. Project engineering will be undertaken by Bateman Kinhill. Other Projects Considerable effort over the past nine months has been devoted to: - identifying suitable mineral fields to which the application of our technology can add significant value to existing mine production - initiating discussions with participants in those mineral fields on the commercial terms under which BacTech will participate in the development and application of its technology. The downturn in commodity prices currently being experienced has increased the attractiveness of our technology to potential users and widened the range of opportunities open to us. Two particular areas of interest are Mexico (the Zacatecas region) and Australia (NSW NSW New South Wales Noun 1. NSW - the agency that provides units to conduct unconventional and counter-guerilla warfare Naval Special Warfare ). Preliminary discussions have made good progress and the Company anticipates satisfactory completion of negotiations during the next quarter. Strategic Relationships Apart from the existing relationship with Mintek, BacTech is actively pursuing its plan to build strategic alliances with companies possessing related and complementary expertise. Company Profile BacTech owns and operates commercially proven and patented bacterial oxidation Bacterial oxidation is a bio-hydrometallurgical process developed for pre-cyanidation treatment of refractory gold ores or concentrates. The bacterial culture is a mixed culture of Thiobacillus ferrooxidans, Thiobacillus thiooxidans and technology for use in the extraction of precious and base metals from difficult to process refractory ores and concentrates. The technology is amenable to a wide range of metals including gold, copper, nickel, cobalt, zinc and polymetallics. The Company is using its technology to earn royalty and license fee income and joint venture interests in projects. The technology has significant capital and operating cost advantages over competing technologies and the residue is environmentally stable. The Company presently has 8,280,099 common shares issued and outstanding. The Company has relocated its Canadian headquarters to 150 King Street West, P.O. Box 15, Suite 2602, Toronto, Canada, M5H 1J9. On behalf of the Board of Directors, J. Alan Spence n. 1. A place where provisions are kept; a buttery; a larder; a pantry. In . . . his spence, or "pantry" were hung the carcasses of a sheep or ewe, and two cows lately slaughtered. - Sir W. Scott. Chairman CONTACT: BacTech Metallurgical Solutions Ltd. Richard Winby, Toronto, 416/ 813-0303 or BacTech Metallurgical Solutions Ltd. Geoff Donohue, Australia, 011/618-9479-3099 |
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