RSS UpdatesCompany Information for BacTech Mining Corporation
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 TSX.V; BM
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Company Statement
BacTech is a publicly listed Canadian company with its shares quoted on the TSX Venture Exchange (Symbol: BM). The Company was founded in 1988 with its origin in Western Australia. BacTech was incorporated in mid 1997 in Ontario, Canada, and went public in September of the same year.
The Company owns proprietary bacterial oxidation technology that liberates precious and base metals from difficult to treat sulphide ores and concentrates. Bacterial oxidation is a safe and environmentally friendly process. It has the advantage of improving metal recovery at significantly lower capital and operating costs when compared to the traditional treatment methods of smelting, roasting and pressure oxidation. BacTech is a proven leader in the commercialization of bacterial oxidation technology in the metal extractive industry.
BacTech's business plan involves identifying projects with difficult metallurgy. Should the project be amenable to bioleaching, BacTech will strive to acquire an equity position in the project. BacTech will also entertain a conventional licensing transaction, should equity in the project be unavailable.
Current Operations
Gold
Historically, the BacTech technology has been licensed to companies attempting to produce refractory gold. In fact, BacTech has been involved in the construction of 3 mines that have employed our technology: • Youanmi, Australia
• Beaconsfield, Tasmania
• Laizhou, China Today, two of these mines are still in operation, with our technology producing in excess of 200,000 oz of gold per annum.
At the present time, including the Yamana Gold transaction in Papua New Guinea (Fergusson Island), BacTech is pursuing several additional refractory gold projects with the intent of acquiring a portion of the equity for our own account.
Reclamation of Mine Tailings
BacTech is taking its technology to a new level. The Company is investigating the possibility of cleaning up old mine tailings laced with arsenic, while also recovering the silver, cobalt and nickel left behind in the tailings. Grant applications totalling $12.5M have been lodged with both the Federal and Provincial governments which comprises 50% of a proposed demonstration plant. The initial plant will be designed to treat 200,000t of tailings or roughly 14,000t of concentrate pa. A successful demonstration would lead to the construction of a plant capable treating 1Mt pa of tailings or 70,000t of concentrate.
BacTech's technology is very effective in converting arsenic into a benign end product, ferric arsenate, which should make it tailor-made for the tailings in the Cobalt Camp of Northern Ontario.
The tailings in this area, created as far back as 1903, are estimated to be in excess of 16 M tonnes and contain high levels of cobalt, silver, nickel and arsenic. There is a very large market for mine tailings’ reclamation and BacTech intends to pursue additional opportunities in this field.
Base Metals
In 2001, BacTech entered into an agreement with Industrias Peñoles to produce base metals from a chalcopyrite concentrate on a commercial scale at a demonstration plant built at Peñoles’ research park in Monterrey, Mexico. The demonstration was a success and, today, BacTech owns the base metal technology 100%. BacTech is the only company to have demonstrated bioleaching for both precious and base metals and our project search includes properties for both types of metal.
We have also initiated a search for tailings’ deposits that contain economic metal content. There is an added benefit in that we not only intend to produce metal from the tailings, but we also oxidize the sulphides in the tailings. This has a longer term positive environmental effect, as it eliminates the production of sulphuric acid from natural oxidation of the sulphides.
Board of Directors and Key Management
| John C. Gingerich, P. Geo., Director, Chairman of the Board |
| Mr. Gingerich is a professional geophysicist (APGO) with 25 years experience. In October, 2002, he left Noranda/Falconbridge and formed Geotechnical Business Solutions, a company focused on the development, financing and implementation of new and/or advanced technology. He is currently President and CEO of Advanced Explorations Inc. |
| M. Ross Orr, B.A., Director, President & CEO |
| Ross Orr initially brought BacTech to Canada from Australia in 1997 and was instrumental in the success of the Company's IPO. He sat on the board as an outside Director until taking the role of President and CEO in 2004. The first 2 years in this new position were consumed by restructuring the Company and positioning it to begin its refractory gold acquisition strategy. Mr. Orr is a graduate of the University of Calgary and currently sits on the board of Caldera Resources Ltd. |
| Gregory B. Starr, B.Bus CPA, Director |
| Mr. Starr is currently Chairman of Australian-listed Gold Anomaly Limited. He has over twenty years of experience in corporate financial management, with the last seventeen years focused on the resources and mining sector. From 2005 to December 2007, he was President and CEO of Golden China Resources Corporation (TSX and ASX listed) and prior to that, was CEO of its predecessor company, Michelago Limited. From 2000 to 2004, he was CEO and Managing Director of Emperor Mines Limited. |
| W. Walter Cimowsky, B.Sc., MBA, Director |
| Mr. Cimowsky is a founding partner and director of Ocean Partners Holdings Limited, a privately held company active in the global physical trading and marketing of copper, zinc, lead and precious metal concentrates. The company operates with an international network of field and agency offices. Ocean Partners provides or arranges financing for small/medium sized mining projects, and currently holds equity positions in mines located in Canada, Mexico and Turkey. |
| Louis R. Nagy, C.A., Chief Financial Officer and Corporate Secretary |
| Mr. Nagy has more than 15 years of professional experience as a chartered accountant. During this time he has held several senior financial positions in the consumer goods and high tech industries. |
| Dr. Paul C. Miller, BSc.Hons. (Minerals Engineering) MSc. (Biochemical Engineering) PhD. (Chemical Engineering) MBA M IMM, C-Eng, Vice President, Technology and Engineering |
| Dr. Miller has over 25 years' industrial experience in bioleaching and commercial applications. He commenced his career working for Mintek in South Africa in 1981, and formed the original group evaluating bioleaching as a potential treatment option. In 1986, he joined Davy McKee in the U.K. as a group leader responsible for development of process technology in support of worldwide contracting activities, with an emphasis on refractory gold projects, determining the feasibility of bioleaching against competing technologies. He joined BacTech in Australia in 1996 as technical manager and, since that time, has been responsible for all technical aspects of projects, from initial test work and management of studies through to project design and execution. |
| Dr. Junxiang Guo, Ph.D., Vice President, Metallurgy |
| A metallurgist by training, Dr. Guo has 15 years of experience in applied research, operations and project management. His operational experience includes Red Lake Mine in Canada, Shandong MIC BioGold in China, and Zeravshan Gold Company in Tajikistan. He formerly served as the Vice President, Marketing with Process Research ORTECH in Mississauga, Canada, and as the Technical Director at Zijin Mining Metallurgical Technologies Ltd. in Xiamen, China. Dr.Guo holds a Ph.D. degree in mineral processing from Queen’s University in Canada. |
| Peter A. Secker, B.Sc.Hons, Project Manager |
| Mr. Secker is a mining engineer with 28 years' experience in the resources industry. He has held a number of senior positions within the industry, most recently as Managing Director of Michelao Limited and CEO of JMS Mining Services. He has constructed, operated and managed mining projects in Australia, South Africa, China and the Pacific. He has also project-managed and operated two of BacTech's bacterial oxidation treatment plants at Youanmi in Western Australia, and the BioGold Plant in Laizou, China. |
Company Address50 Richmond Street East, Suite 300
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Additional Address/Key ContactInvestor Relations: M. Ross Orr, President & CEO |
CapitalFully Diluted; 130,742,623 |
Annual General MeetingJune 24, 2009 Toronto | Year End31 December |
Major Shareholders
| MGI Securities | 7% |
| Management & Directors | 6% |
| Pinetree Capital | 9.9% |
| Baker Steele | 5.0% |
Related News
23/02/10 - BacTech Prepares To Spin Off Its Gold Interests, With A View To Focussing On Environmental Rehabilitation Projects04/11/09 - BacTech Will Focus On the Clean Technology Sector Once It Splits Off Its Gold Mining Operations
29/07/09 - BacTech Flirts With The Oil Shale Business, While Work On Its Cobalt Tailings Project In Ontario Continues
13/05/09 - BacTech Seeks A Partner To Help With The Heavy Lifting On The Cobalt Camp Tailings Project In Ontario
Most Recent Statement
08/03/10 - BacTech Closes Financing05/03/10 - BacTech Appoints Goldco Director
25/02/10 - BacTech Increases Financing
22/02/10 - BacTech Appoints Vice President, Metallurgy
18/02/10 - BacTech Announces Financing
12/01/10 - BacTech Announces Spin-Out of Mining Assets