Company Performance Metrics
Ross Orr: President and CEO
BacTech Environmental Corporation (BEC) is a publicly-listed Canadian company with its shares quoted on the Canadian Securities Exchange (CSE), symbol BAC. It was created in December 2010 by virtue of a Plan of Arrangement from its former parent company, BacTech Mining Corporation (BMC).
BMC was founded in 1988, with its origin in Western
Australia, incorporated in Ontario, Canada in mid 1997, and went public in September of the same year. In 2010 BacTech Mining Corporation changed its name to REBgold Corporation under the above-noted Plan of Arrangement, and will continue to use bioleaching technology to identify mining assets where its' technology can be employed.
REBgold owns proprietary bacterial oxidation technology that liberates precious and base metals from difficult-to-treat sulphide ores and concentrates. Bacterial oxidation is a safe and environmentally-friendly process. It has the advantage of improving metal recovery at significantly lower capital and operating costs when compared to traditional treatment methods of smelting, roasting and pressure oxidation. REBgold is the only company in the world that has commercially-proven bioleaching technology for gold and for base metal separation.
As part of the Plan of Arrangement, REBgold and BEC entered into an agreement whereby REBgold licensed its bioleaching technology to BacTech Environmental to be used perpetually, exclusively, and royalty free, in the remediation of mine tailings. Recently, BacTech and REBgold agreed to let BacTech have access to the technology for mining-related projects in exchange for a 1% net smelter royalty ("NSR"). This was done to allow BacTech to process ore from artisanal miners in South America who have historically been using mercury to recover gold.
BacTech Environmental will now focus its strategy on environmental remediation services to address the worldwide arsenic problem. This decision was based on the global demand for the remediation of mining areas and the benefit of owning equity interests in such projects, versus the external licensing of the bioleaching technology.
BacTech Environmental will strive to secure an equity position in each project, which will be augmented by additional cash flow related to metal recovery. Where possible, the Company will partner with national and local governments, and non-governmental organizations, to fund portions of the projects.
