Green Tech Co. Unveils 'Zero-Waste' Recovery for Tailings

BacTech Environmental Corp. (BAC:CSE;BCCEF:OTCQB;OBT1:FRA) announced it has filed an expanded provisional patent application for its application of the bioleaching process to millions of tons of tailings to create zero waste using green technology and power.

"This process, aside from extracting valuable metals like nickel, copper, and cobalt from pyrrhotite or pyrite tailings, uses eco-friendly and sustainable power sources to eliminate all waste during tailings reprocessing operations, delivering a first-ever zero-waste, low-carbon liberation and extraction approach for valuable metals recovery," BacTech said in a news release.

BacTech said it's independently estimated that there are 80 to 100 million tonnes of pyrrhotite tails in the Sudbury, Ontario, basin, containing 60% iron, 30% to 35% sulfur, 0.85% nickel, and 0.03% cobalt, in addition to the copper that has been deposited over the past 100 years of mining.

The company's newest intellectual property (IP) retains the bioleaching approach to recovering metal values and producing multiple commodities from low-grade mine wastes, but now introduces novel innovations to selectively convert soluble iron into iron metal for green steel making and produce ammonium sulfate fertilizer from the sulfur which is converted to acid during bioleaching.

Technical Analyst Clive Maund wrote, "The stock looks set to make significant gains even over the short to medium-term, and this being the case, it is rated an Immediate Strong Buy here."

Pyrrhotite is a highly reactive iron sulfide mineral that reacts strongly when exposed to oxygen, releasing soluble acidic iron harmful to the environment.

"We believe our zero-waste metals recovery IP will emerge as a defining solution and unprecedented industry game-changer," BacTech said. "By diversifying the range of products derived from these projects, BacTech aims to reduce dependence on long-term metal prices as the primary drivers for investment in remediation efforts while treating pyrrhotite and pyrite waste streams from current operations."

The Process

The patent application update offers two product options for iron, but the company said it would first explore direct electrowinning from the bioleach solution for on-site metal production. The oldest industrial electrolytic process, electrowinning is the electrodeposition of metals from their ores that have been leached into a solution.

"Following the sequential precipitation of copper, nickel, and cobalt from the solution, the soluble ammonium sulfate produced during the process, will be crystallized and packaged for sale at a premium as an organic fertilizer," the company said. "Any residual water will be returned to the process, effectively leaving zero-waste."

Chris Temple of The National Investor, a supporter and shareholder of the company, agreed, calling the company "a poster child for what is legitimately a green cause." 

The primary products delivered through the new low-carbon bioleach processes include: mixed nickel/cobalt precipitate, copper precipitate, on-site iron metal production via electrowinning or iron pellets for off-site conventional iron manufacturing or green steel making, ammonium sulfate fertilizer, and minor by-products such as magnetite powder and geopolymers like silica for construction material or mine backfill.

The global iron ore market was valued at US$297.35 billion in 2023, and is projected to grow to US$397.98 by 2032, according to Fortune Business Insights.

Green steel is made using green hydrogen without the use of fossil fuels. Allied Market Research expects an even bigger explosion of wealth in that market: from US$200 million in 2022 to US$364.5 billion by 2032.

"Consumer and producer motivation for sustainable products and increasing government initiatives globally have contributed significantly to boosting the growth of the global green steel market," Allied researchers noted.

MIRARCO, (Mining Innovation, Rehabilitation, and Applied Research Corporation), led by Dr. Nadia Mykytczuk, has assembled a pilot-scale bioleach circuit in Sudbury where the BacTech technology will undergo test work to break down the pyrrhotite sulfide mineral into its individual elements, BacTech said.

The company bioleached pyrrhotite material 25 years ago at Radio Hill, Australia. It said it is confident that it can duplicate those results.

'Poster Child' for a Green Cause

BacTech is also building a bioleaching plant in Ecuador. After receiving its long-awaited consultation permit, the country fell into civil rest earlier this year.

However, new Ecuadorean president Daniel Noboa was decisive and declared a state of emergency and arrested major drug lords, bringing some stability back to the country.

"The fear factor resulting from this caused the stock to slide lower, but as we will see when we peruse the charts, the stock did not break down and has not suffered significant technical damage, so the larger bullish picture remains intact," Technical Analyst Clive Maund wrote in February.

Maund noted that the company's six-month chart shows "positive developments over the past week or two." 

"The first of these is the appearance of a bullish candle on the chart late last month right at the support where the price closed at the day’s high on strong volume — this looks like a reversal candle, and the relative strength of the Accumulation line at that time and since supports this assertion," wrote Maund, who rated the stock a Strong Buy for all timeframes. "So, there is thought to be a good chance that BacTech will advance from here."

Chris Temple of The National Investor, a supporter and shareholder of the company, agreed, calling the company "a poster child for what is legitimately a green cause." 

In light of the news, Maund shared an update with Streetwise, stating, "BacTech Environmental is in the very latest stages of completing a gigantic Cup & Handle base that dates back as far as 2013. The upper boundary of this base pattern is just above the 16-cent level, so it will have made significant gains from the current price even before it breaks out from this base."

He continued, "Right now, it looks like it is just starting to rise away from the support at the lower boundary of the "Handle" of the pattern, which really looks complete given the positive outlook for the company and the background of a major metals bullmarket now starting to gain traction. So the stock looks set to make significant gains even over the short to medium-term, and this being the case, it is rated an Immediate Strong Buy here." 

Ownership and Share Structure

Nearly half of the company, 49%, is held by insiders, management, and strategic shareholders, the biggest of which is Option Three Advisory Services Ltd., which owns 8.48%, or 15.57 million shares, according to Reuters. That also includes CEO Orr, who owns 3.57% or 6.54 million shares, and Board Director Timothy Lewin, who owns 0.54% or 0.98 million shares.

The rest is retail.

The company has 193.04 million shares outstanding. Its market cap is CA$10.19 million, and it trades in a 52-week range of CA$0.10 and CA$0.05.

Important Disclosures:

1. BacTech Environmental Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. In addition, BacTech Environmental Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of BacTech Environmental Corp.
3. Steve Sobek wrote this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee.
4.  This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company. 

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