VANCOUVER, B.C.– BioteQ Environmental Technologies, Inc. (TSX: BQE), a leader in the treatment of industrial waste water, announced today that the company has received $3.6 million in cash from NWM Mining, as full re-payment of the loan that BioteQ extended to NWM Mining in 2008. The repayment includes all outstanding principal and interest on the loan.
Brad Marchant, BioteQ’s Chief Executive Officer stated, “We are pleased to receive early repayment of the loan. The management team and financial partners of NWM have made significant advancements in the last year and have created a more robust project to the benefit of all involved.”
The loan was extended to NWM Mining as part of BioteQ’s involvement in the development of the Lluvia de Oro – Jojoba gold mine project located in Sonora, Mexico. In addition to the loan financing, BioteQ designed, built and commissioned a SART plant in 2008 to demonstrate the technology for application at the Lluvia-Jojoba project, and subsequently sold the plant to NWM under a sales-lease arrangement in June 2009, as previously announced. Monthly lease payments of $150,000 for the SART plant are to commence October 1, 2010.
The SART plant is designed to treat up to 340 cubic meters per hour of copper-contaminated cyanide solution. The plant operated successfully in 2008, meeting all specifications for emissions and safety while regenerating cyanide solution for re-use in the gold operation, reducing copper in the gold leach solution from 300 mg/L to below 50 mg/L in the discharge from the plant, and recovering dissolved copper as a high-grade copper sulphide concentrate. Over 40,000 pounds of concentrate was recovered containing 63 percent copper, which was sold to Trafigura. By removing the interference of the copper from the gold heap leach process, BioteQ’s SART plant can improve gold yields, significantly reduce operating costs, and enhance the environmental performance of the gold mining operation.
BioteQ Corporate Profile
BioteQ applies innovative technologies and operating expertise to solve challenging water treatment problems, reducing environmental liabilities while delivering lower life cycle costs for water treatment. The Company’s commercially proven technologies treat industrial wastewater contaminated with dissolved heavy metals and sulphate, producing saleable by-products and clean water that can be discharged safely to the environment. BioteQ has built 10 plants at sites in Canada, the US, China, Australia and Mexico, with additional projects in design and construction.
BioteQ’s sustainable water treatment solutions have been recognized with the CIM/Syncrude Award for Excellence in Sustainable Development, the Canada Export Achievement Award, the Jantzi/Maclean’s Most Socially Responsible Corporations in Canada, the Globe Award for Environmental Excellence, the PDAC Award for Environmental and Social Responsibility, the China Mining Environmental Protection Award, and the Mines & Money Sustainable Development Award. BioteQ is headquartered in Vancouver, Canada, and trades on the TSX under the symbol BQE. For additional information, please go to www.bqewater.com.
On behalf of the Board of Directors