- EnviroGold Global Limited (NVRO) has provided an update on the status of its Hellyer and Buchans Tailings reprocessing projects and its global tailings reprocessing pipeline
- EnivroGold saw increases in gold recoveries from the Hellyer Project (60 to 80 per cent)
- The company is advancing the project towards commercial metal production with initial pilot-scale metal production planned for this year
- EnviroGold completed a coring program to collect the identified material from the Buchans Tailings confirming presence of tailings
- The company has advanced commercial negotiations with the owners of additional tailings project opportunities to execute one agreement sometime this year
- EnviroGold Global Limited (NVRO) is unchanged trading at $0.25 per share as of 11:39 a.m. ET
EnviroGold Global Limited (NVRO) has provided an update on the status of its Hellyer and Buchans Tailings reprocessing projects and its global tailings reprocessing pipeline.
Back in February, signed a binding definitive agreement with Hellyer Gold Mines, for the rights to reprocess the Hellyer tailings and recover valuable metals subject to a profit-sharing agreement.
The profit-sharing agreement entitles EnviroGold to 50 per cent of the pre-tax profits up to $24 million per year and 65 per cent of the pre-tax profits afterwards.
Since then, EnivroGold started a flowsheet optimization program with Core Resources that yielded substantial increases in recoveries of gold from the project between 60 to 80 per cent.
The company stated it is continuing to advance the project towards commercial metal production with initial pilot-scale metal production planned for this year.
Regarding the Buchans Tailings, EnviroGold completed a coring program to collect the identified material from the Jeff Wall claim. During initial exploratory coring earlier this year, the company successfully recovered material from several points within the Jeff Wall Claim.
The company believes this evidence confirms the presence of tailings, allowing it to initiate advanced exploration of the claims following initial metal production at the Hellyer Tailings Project.
Finally, EnivroGold stated it has also advanced commercial negotiations with the owners of additional tailings project opportunities and expects to execute at least one agreement sometime this year.
EnviroGold Global Limited (NVRO) is unchanged trading at $0.25 per share as of 11:39 a.m. ET.
