Barrick’s Argentinian Gold Mine will Stay Closed Longer
Dundee Sustainable Technologies proprietary gold extraction method eliminates environmental problems related to gold processing.
Earlier this month Barrick acknowleged that due to faulty valves, cyanide used in the extraction of Gold managed to leak into local water supplies.
Mining.com just reported – “An Argentine judge ruled Wednesday that gold leaching processes at Barrick Gold Corp’s (TSX, NYSE:ABX) Veladero mine should remain suspended for another 30 days until authorities can determine whether there was environmental damage from a cyanide leak triggered by a faulty valve.” view full article
It is for reasons such as the aforementioned that Dundee Sustainable Technologies’ gold extraction process is revolutionary for the gold mining community and the environment.
About Dundee Sustainable Technologies (DST:CSE), a company controlled by Dundee Corporation
DST is engaged in the development of technologies for the treatment of refractory ores containing sulfides and arsenic. DST has developed proprietary hydrometallurgical processes, and owns the related patents, for the extraction of precious and base metals from ores, concentrates and tailings, which cannot be extracted with conventional processes because of metallurgical issues or environmental considerations.
DST’s patented approach provides a cyanide-free process to allow the exploitation of gold and other deposits that would otherwise face metallurgical issues with conventional methods. The primary benefits of the innovative technology are shorter processing times, a closed-loop operation eliminating the need for costly tailings pond, reduced environmental footprint related to inert and stable characteristics of the tailings, and lesser emissions due to lower energy consumption.
The process developed by DST is a recognized “green technology” for which it was awarded a $5.7 million grant towards the construction and operation of a $25 million demonstration plant. With a capacity of 15 tonnes per day of concentrate, the demonstration plant will serve as a proof of concept for the chlorination extraction technology on an industrial scale and under continuous operating conditions.
DST has tested several different gold deposits, both oxide and sulfide ores at the lab level and at its pilot plant. These tests have, consistently achieved gold recoveries in excess of 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, using chlorination instead of cyanide.
For more about Dundee Sustainable Technologies visit their website: http://www.dundeetechnologies.com/
Dundee Sustainable Technologies Seeing Some Market Activity!
Dundee Sustainable Technologies (C:DST) has been on the tip of the tongue of multitudes of institutions and investors. A new technology play in Canada, it has been recognized by the Sustainable Development Technologies Canada. Recently in talks with various South American countries, DST has negotiated a decree in the province of San Juan in Argentina, as well as secured two MOU’s with strategic partners located in Peru and Chile. These are by no means small steps, this could eventually lead to the only technology being used in the regions for extraction would be that of DST’s!
Are we there yet?
No.
Could we be in the future?
Yes.
Financially, DST has a working capital cash flow of negative $6.1 million, which includes the $5million short term loan from Dundee. DST does not expect to have enough cash to continue, however it is confident it can raise what is required to continue operating and expanding. So far this hasn’t been an issue, nor is it expected to be one. Several time already has Dundee excersized in position to give DST some cash flow.
With the recent selloff, there has been concern for the current share price of DST. While it is clear that someone had to get out, the why as several possibilities. Considering the time of year, we have entered what is commonly known as Tax Loss Season. As the holidays draw near, some investors justify portfolio adjustments for gifts, vacations and festivities.
One possibility, is Pinetree Capital, which recently disclosed that the company was in default by the trustee under the Indenture. Its debt-to-assets ratio on was 38.8{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, contrary to the 33{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} debt maintenance covenant contained in the Indenture. Considering it’s recent financial hurdle and that it is involved with Dundee and DST, it may have had to adjust it’s position.
Remember the Minto Property? Well, some testing has been done, and they were able to compare their own chlorination method (90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} recovery) vs traditional cyanide ( 35{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} recovery). This was able to confirm the refractory nature of the Deposit. Using a modular processing plant, they plan to concentrate the deposit, and subsequently ship it to their Thetford Mines demonstration plant. The construction or acquisition is expected to be $4.5 million (which is included in the $27 million demo plant cost).
The modular processing plant is expected to go live in the summer of 2015.
The reason for the delay was because of a mechanical inspection Dundee performed on a concentrator in Mexico. Dundee has interest to acquire this as part of the demonstration plant cost.
Also within that $27 million budget for the demonstration plant, is $6.5 million for processing materials obtained by Dundee Precious Metals and / or other third parties. This will only be for a period of 6 months, after which it will process the ore of Creso.
|The demonstration plant is expected in March of 2014. The first thing to be processed? 10-20 tons of 1 pound gold/ton ore. So far they were able to get 99{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} recovery of the first kilograms of it, and will establish the feasibility of processing at their demo plant. 1 ton of this stuff is worth over $19, 000 at today’s gold prices!
This all means possible revenue as of next year.
Read more:
Dundee Sustainable Technologies – Making big moves in South America
Dundee Sustainable Technology (CSE:DST) in the News! (Global Mining)
Cyanide, Mercury and Tailing Pond Spills – Perhaps we Should Change our Extraction Methods
Management Discussion and Analysis
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- Published in Blog
Dundee Sustainable Technologies – Making big moves in South America
Dundee Sustainable Technologies (C:DST) is this relatively new company trading on the Canadian Securities Exchange. Over the course of it’s history this small cap company has developed several highly efficient and patented technologies, with efforts being put into licensing out their technologies in exchange for royalties.
On Oct. 31, 2014, Jose Louis Gioja issued a decree in San Juan in view of implementing DST’s proprietary cyanide-free technologies. San Juan Mining has committedto raising an estimated $100 million in order to set up a processing plant with a capacity of 200 tons of concentrate (6000 tons of ore) a day. In turn, DST would receive a 3{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} Net Smelter Return (“NSR”) on all precious and base metals thus produced. This is a major step forward for DST – this will be the 3rd plant for processing, and the second country to endorse their technologies.
Argentina (among other countries) has had many issues in the past over cyanide heap extraction. With blanket issues over heap leaching and the effects that these tailing ponds have on the environment, several provinces have banned the use of cyanide in mining. Without a viable extraction method, many projects in Argentina have simply stagnated. This is where DST comes in, with their new chlorination method.
Chlorination extraction has several distinct advantages over traditional methods. With high yields (90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}+), low contact time (avg. Several hours vs. Several days) and lower capital costs of about 10-15{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, this method is economically competitive. The most distinctive aspect though, is in it’s tailings – It only leaves behind Salt and Potash. No mecury. No cyanide.
Between the plant being set up in January and this, DST is looking about a provisional $60 Million in revenue stream. Considering they have been trading since April, they have made some great strides. And just think – this is simply one technology.
We might be seeing the tipping point on Dundee Sustainable Technologies.
DUNDEE SUSTAINABLE TECHNOLOGIES INC. DEVELOPMENT IN FERTILIZER BUSINESS
MONTREAL, QUEBEC–(Marketwired – July 14, 2014) – Dundee Sustainable Technologies Inc. (“DST” or the “Corporation”) (CSE:DST), the developer and owner of proprietary technologies to serve the natural resource sector with environmentally friendly procedures, is pleased to announce its commitment in the fertilizer business.
DST has obtained patents for the production of sulfate based fertilizers. These processes are providing a new way to the industry of producing potassium sulfate (“SOP” or K2S04) and potassium magnesium sulfate (“SOPM” or K2SO4.2MgSO4). Both products are accompanied by the production of salable hydrochloric acid as a by-product.
Sulfate based fertilisers are applied at sowing time, where ions are adsorbed in the soil and remain available and protected against leaching. The growing need to do more with less, and the sulfur deficiency in particular crops have led to an increase use of sulfate based fertilisers, while excess use of chloride based fertilisers (potassium chloride or “potash”) reduces nutrient uptake and yield quantities, water soluble sulfate fertilisers such as SOP and SOPM are the most effective for growing crops.
The growing market for sulfate based fertilisers along with depleting natural sources of chloride-free potassium creates a great opportunity for DST to develop its patented processes.
DST has analyzed a project to build a plant for the production of SOP using potash and sulfuric acid. Moreover, DST has received interest from a North American distributor that is ready to market the production of 50,000 tonnes per year of SOPM and could also be interested in SOP.
Market
The current market conditions and specific demands from the fertilizer market are opening a window of opportunities to launch projects that would lead to the construction of fertilizer plants. DST’s technology allows for SOP and SOPM to be produced below current market price with profit margins preliminary estimated at $410 per tonne for SOP and $225 per tonne for SOPM.
The National Research Council of Canada granted DST a $50,000 subsidy for the assessment of its fertilizer technology.
About Dundee Sustainable Technologies, a company controlled by Dundee Corporation
The cyanide and mercury free gold extraction process developed by DST, has been recognized as a “green technology” for which DST has been awarded $5,700,000 in grants to date for a demonstration plant, presently under construction in Thetford Mines Quebec of which $700,000 has been provided by the Government of Quebec and $5,000,000 by the Government of Canada through the Sustainable Development Technology Fund. The plant is scheduled to go into operation in mid-January 2015.
Over the last ten years DST has tested over 50 different gold deposits, both oxide and sulfide ores at the lab level and at its pilot plant. These tests have, consistently achieved gold recoveries in excess of 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce}, using chlorination instead of cyanide. In addition, the tailings from the process are inert from toxic substances and as result meet environmental norms. An engineering study completed within the last 12 months supports DST’s claim of having operated a pilot plant showing a gold extraction yield higher than 90{92d3d6fd85a76c012ea375328005e518e768e12ace6b1722b71965c2a02ea7ce} using a closed-circuit chlorination process.
FORWARD LOOKING STATEMENTS: This press release contains forward-looking statements that address future events and conditions, which are subject to various risks and uncertainties. Actual results could differ materially from those anticipated in such forward- looking statements as a result of numerous factors, some of which may be beyond the Corporation’s control. These factors include: results of exploration activities, general market and industry conditions, and other risks disclosed in the Corporation’s filings with Canadian Securities Regulators.
Forward-looking statements are based on the expectations and opinions of the Corporation’s management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements. The Corporation expressly disclaims any intention or obligation to update or revise any forward-looking statements whether as a result of new information, future events or otherwise, except as required by applicable law. Depending on exploration results and available financing, the Corporation may at any point modify its work program.
The Canadian Securities Exchange has in no way passed upon the merits of the proposed transaction and has neither approved nor disapproved the contents of this press release.
Pierre Gauthier
President and CEO
(514) 866-6193
(514) 866-6001 # 244
- Published in Mining