Canada-based Golden Predator acquires 20% stake in ISR metal company

Canada-based Golden Predator acquires 20% stake in ISR metal company

by Nandita Bhardwaj

Golden Predator Mining Corp., the Canada-based mineral exploration firm, has reportedly inked an agreement to acquire a 20 percent stake in Group Technologies Inc., a privately-owned American firm. As per sources, the latter is dedicated to implementing and testing non-invasive in-situ recovery (ISR) of valuable metals with the use of sustainable solutions.

Group 11 announced that it has finalized all necessary shareholder, licensing, and organizational, documentation with its founding partners and will now begin formal operations. The company’s initial step will include acquisition and following testing of gold projects, already known, that show certain qualities lending themselves to its sustainable and economically superior processes.

In-situ recovery (ISR) is a non-invasive metal extraction method that has revolutionized the uranium industry. In this method, diluted water-based solutions are first circulated underground. They dissolve targeted metals and return to the surface for recovery and processing of target metals.

The method is considered to be sustainable as it eliminates the need for open pits, tailings facilities, underground tunnels, and waste dumps. It also eliminates the discharge of toxic chemicals at the surface.

Due to these reasons, Golden Predator said in the statement that the method has the potential to be a low-impact, economical mining method.

Group 11 is now owned by enCore Energy Corporation, EnviroLeach Technologies Inc., and Golden Predator Mining Corporation with 40%, 40%, and 20% of common stakes in the company respectively. All these companies are working together to utilize an environmentally-friendly and economical method for gold extraction.  

Sources cite that EnviroLeach has inked an agreement with Group 11 for the use of a sustainable metal recovery process and will offer metallurgical and chemical expertise. EnCore also has contributed USD 750,000 in primary funding and will offer in-situ extraction expertise.

On the other hand, Golden Predator will provide mobile processing equipment and expertise in utilizing EnviroLeach’s sustainable solution for gold recovery from sulphide concentrates. Group 11 will finance all ongoing research and development activities for in-situ as well as secondary recovery applications.

 

Source credit - https://www.globenewswire.com/news-release/2020/09/02/2087793/0/en/Golden-Predator-Acquires-20-of-Group-11-Technologies.html

Nandita Bhardwaj

Having a marketing management post graduate degree under her belt, Nandita spent considerable time working in the field of recruitment. However, her real interest lay in playing with words and soon enough, she commenced her career in the field of content creation. Currently, she authors insightfuRead more...