:: Biotech MoU

BacTech Enviromet Corp., Mintek and Industrias Penoles SA de CV (collectively know as PBM) have signed a memorandum of understanding (MoU) with a large Canadian industrial holdings group. The MoU will evaluate the feasibility of constructing, owning and operating a bioleaehing operation and associated solvent-extraction and electrowinning plant in Canada to produce LME Grade 'A' copper cathode and associated other base and precious metals.

Under the terms of the MoU, the unnamed Canadian group will apply local economic factors to the existing PBM prefeasibility study. This process is scheduled for completion by the end of this year. Providing this process is successful, the Canadian group will confirm the initial sources of concentrate feedstock for the plant, site selection and conceptual plant design. In addition, and as part of its existing feasibility study, PBM will conduct further work to determine more accurately the total capacity and operating costs, and to identify other sources of feedstock.