- EnviroGold Global Limited (NVRO) has started a pilot program on the Hellyer Tailings Reprocessing Project and approved a debt settlement
- The program will optimize the reprocessing method’s effectiveness and efficiency through bench scale and larger-scale pilot plant optimization
- Phase one results are expected this quarter to help deploy a full-scale program
- The company’s board of directors approved the settlement of US$231,835 in debt
- To do so, it issued roughly 1.44 million of its common shares to its creditor
- EnviroGold Global Limited (NVRO) is up 2.78 per cent, trading at $0.18 per share as of 1:23 p.m. EST
EnviroGold Global Limited (NVRO) has started a pilot program on the Hellyer Tailings reprocessing project and approved a debt settlement.
The program was designed by the company to optimize the reprocessing method’s effectiveness and efficiency through bench scale and larger-scale pilot plant optimization.
Results from a phase one trial are expected sometime this quarter. They will be used as a milestone to deploy a full-scale pilot program as a precursor to plant engineering and construction at the Hellyer project in Australia.
The program will establish the maximum metal extraction achievable from tailings, producing precious metals and confirm baseline requirements. It will also obtain data necessary for economic validation and engineering design, as well as demonstrate the neutralization of the waste product to showcase environmental benefits.
In other news, the company’s board of directors approved the settlement of US$231,835 in debt by issuing roughly 1.44 million of its common shares to its creditor, Anderson Creagh Lai, for general legal fees.
The shares were issued for $0.21 per share, and the company agreed to satisfy this outstanding indebtedness with shares to preserve its cash.
EnviroGold Global Limited (NVRO) is up 2.78 per cent and is trading at $0.18 per share as of 1:23 p.m. EST.
