TORONTO, Nov. 01, 2021 (GLOBE NEWSWIRE) -- EnviroGold Global Limited (“EnviroGold Global” or the “Company”) (CSE: NVRO), a Clean Technology Company accelerating the world’s transition to a circular-resource economy, is pleased to provide an update on key initiatives related to its multi-year strategy, including progress on acquiring major projects for its tailings reprocessing business line.
Consistent with the Company’s strategy of remediating and reducing the environmental footprint of mine waste and tailings, EnviroGold Global continues to target tailings reprocessing opportunities where there is potential for the Company to process tailings volumes exceeding 1 million tonnes with a gross recoverable value of no less than $100/tonne.
Tailings are the by-product of mining and mineral processing methods that often contain significant quantities of valuable precious, critical and strategic metals, which can be recovered through reprocessing and remediation methods.
The total addressable market for the tailings reprocessing industry is massive. There is an estimated 282.5 Billion Tonnes3 of tailings currently sitting on the Earth’s surface with an additional 12.7 Billion3 Tonnes of tailings produced annually. The value of precious, critical and strategic metals contained in mine tailings is estimated to exceed US$3.4 Trillion1,2 (total addressable market) with over US$ 370 Billion2 of tailings metal content in the Company’s expected serviceable and obtainable markets. Further market segmentation undertaken by the Company, including internal research, has identified a target market opportunity that could exceed US$10 Billion. The acquisition and development of the target market opportunities into high-value metal production projects forms the basis of the Company’s 5-year growth strategy.
EnviroGold Global has 1 major project under contract, 3 major projects subject to MOUs, is negotiating commercial terms on 2 additional major projects and is conducting advanced analysis on 3 qualified major project opportunities. The Company expects to leverage its rapid analysis capabilities, its innovative profit share business model, and its scalable, modular approach to project development to acquire and develop 9 major projects by 2025 with 7 of the 9 projects in commercial metal production by this time.
The Company will continue to provide updates on the acquisition and development of major projects, including its Buchans River Delta Rehabilitation Project (refer to the Company’s September 20, 2021 news release - link)
Photos accompanying this announcement are available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/6e1cd59b-0d4f-4fa7-8780-08d5bfbed99d
https://www.globenewswire.com/NewsRoom/AttachmentNg/dbcab1e8-d7fb-4fce-b90e-04756c804cb6
Commenting on the Company’s strategic vision, EnviroGold Global’s CEO, Dr. Mark Thorpe, said, “As a purpose-driven company committed to producing “Metals Without Mining” while positively impacting our shared ecosystem, we are excited about the size and scale of our global market and incredibly confident in our team’s capability to consistently execute on the Company’s our 5-year plan. We look forward to continuing to share our journey as we establish an ESG leadership position while profitably accelerating the world’s transition to a circular resource economy.”
Qualified Person Statement
All scientific and technical information contained in this news release was prepared and approved by Ian Hodkinson, MAIG RPGeo., Chief Geologist of EnviroGold Global, who is a Qualified Person as defined in NI 43-101.
Sources
1. CRU Group, Bloomberg via Mining.com
2. Estimates using data from USGS, ClioInfra
3. Global Tailings Review, ICMM, UNEP, PRI
EnviroGold Global (CSE: NVRO) is a Clean Technology company creating shareholder value while establishing ESG market leadership by remediating mine and industrial waste, while reclaiming high-value commodities. The Company is strategically positioned to earn and maintain social license while capitalizing the estimated US $3.4Trillion in valuable commodities residing in target waste streams globally.
Further Information
Dr. Mark B. Thorpe
Chief Executive Officer
Telephone: +1 416 777 6720
Email: mark.thorpe@envirogoldglobal.com
Juan Carlos Giron Jr.
Sr. Vice President
Telephone: +1 416 777 6720
Email: juan.giron@envirogoldglobal.com
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release.
Forward Looking Statements
This news release contains "forward-looking statements" within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as "plans", "expects" or "does not expect", "is expected", "budget", "scheduled", "estimates", "forecasts", "intends", "anticipates" or "does not anticipate", or "believes", or variations of such words and phrases or may contain statements that certain actions, events or results "may", "could", "would", "might" or "will be taken", "will continue", "will occur" or "will be achieved". The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the expected terms of the Buchans Project and its completion, the Company’s working relationship with the owner(s) of the Buchans tailings, the economic viability of the Buchans Project and statements regarding any residual precious metals as a by-product of the remediation, the Company’s expansion of its reprocessing pipeline, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.
