VANCOUVER, BC – BioteQ Environmental Technologies, Inc. (TSX : BQE), a leader in the treatment of industrial wastewater, will commence a SART testing project with a European engineering firm for a gold mine in Central Asia. Field-based test work and engineering services for the SART feasibility study will be carried out in Q4 2013. The test results will be used as the basis for discussions relating to the build of a full-scale SART plant. Previously announced in July 2011, the project had been delayed due to metallurgical plant upgrades at the site.
The dollar value of this contract will have only a modest impact on 2013 financial performance. However, assuming successful results, this work could lead to the provision of a full-scale SART plant by BioteQ and its European engineering partner.
In addition, BioteQ has also signed a SART testing contract relating to a project in Chile with a major mining company. Work under this contract will be performed in BioteQ’s Vancouver laboratory facilities. The bulk of the work under this contract will be performed in early 2014.
Jonathan Wilkinson, BioteQ’s CEO stated, “We are pleased to re-start the Central Asian project and to initiate early work on another SART project, further strengthening BioteQ’s reputation as a leader in SART design and drawing on our core competencies in sulphide precipitation. We see these developments as a positive sign that metals markets may be moving back towards stability which would be a significant driver of growth for the company beyond 2013. We would note however that, while we continue focus on the achievement of positive cash flow from operations in 2014, sales activity in 2013 has been slower than was anticipated earlier in the year and BioteQ will need to make additional commercial progress if it is to achieve financial results within the guidance ranges that were provided for the year.”
The SART process (sulphidization-acidification-recycle-thickening) is an enabling technology for copper-complexed gold deposits. Developed by SGS Lakefield and Teck Corporation, SART removes the metallurgical interference of cyanide-soluble base metals and regenerates cyanide for recycle to the gold operation. SART can improve gold yields, reduce processing costs and enhance the environmental performance of gold mining operations.
Over the past few years a number of new SART plants have been commissioned, signifying the growing acceptance of the technology. In an environment of rebounding gold prices and tightening environmental regulation, gold producers are looking at SART to improve the economics of new or existing gold projects. BioteQ is an expert in SART technology, having successfully designed and commissioned two SART plants and provided extensive SART engineering and commissioning services for a third plant, owned by Kinross Gold.
BioteQ Corporate Profile
BioteQ is an innovative clean technology leader in global industrial water treatment, serving the mining and energy markets. The company has technology expertise and proven operational capabilities in sulphide precipitation, ion exchange, alkali/lime precipitation, leaching, sulphate removal and SART technology. Over the past decade, BioteQ has designed and commissioned waste water treatment plants at mine sites for leading organizations including Xstrata, Freeport McMoran, Jiangxi Copper and the US EPA. These plants recover dissolved metals and/or remove substances such as sulphate and selenium, producing clean water and minimizing or eliminating residual waste. BioteQ is headquartered in Vancouver, Canada and trades on the TSX under the symbol BQE. Please visit our website at www.bqewater.com for additional information.
The Toronto Stock Exchange has not reviewed and does not accept responsibility for the adequacy or the accuracy of this release.
CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
Certain information contained herein may not be based on historical fact and therefore constitutes “forward-looking information” under applicable Canadian securities legislation. This includes without limitation statements containing the words “plan”, “expect”, “project”, “estimate”, “intend”, “believe”, “anticipate”, “may”, “will” and other similar words or expressions. Forward-looking statements are based on the opinions and estimates of management at the date the statements are made, and are subject to a variety of risks, uncertainties and other factors that may cause actual events or results to differ materially from those expressed or implied by such forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the Company’s dependence on key personnel and contracts, uncertainty with respect to the profitability of the Company’s technologies, competition, technology risk, the Company’s ability to protect its intellectual property and proprietary information, fluctuations in commodity prices, currency risk, environmental regulation and the Company’s ability to manage growth and other factors described in the Company’s filings with the Canadian securities regulators at www.sedar.com (including without limitation the factors described in the section entitled “Risks and Uncertainties” in the Company’s Annual Report for the year ended December 31, 2012 and the section entitled “Risk Factors” in the Company’s Annual Information Form for the year ended December 31, 2012). Given these risks and uncertainties, the reader is cautioned not to place undue reliance on forward-looking statements. All forward-looking information contained herein is based on management’s current expectations and the Company undertakes no obligation to revise or update such forward-looking information to reflect subsequent events or circumstances, except as required by law.