BacTech Environment Corporation (OTCMKTS:BCCEF) (CSE:BAC) Stock Consolidates After The Recent Fall
BacTech Environment Corporation (OTCMKTS:BCCEF) (CSE:BAC) is moving in a range after announcing that the bioleaching program interests are expected to go on to focus on copper and gold concentrates and possible metal recovery efforts.
Market Stats
On Tuesday, BCCEF stock ended flat at $0.0800 with more than 20k shares, compared to its average volume of 22K shares. The stock has moved within a range of $0.0800 – 0.0800 after opening trading at $0.0800.
BacTech Environmental Confirms Gold and Copper Concentrate Potential in Peru for Bioleaching
The company has made plans to obtain seven 15kg concentrates samples from chosen processors and producers over the next 2 to 3 months after developing ties with a handful of small-scale miners and processors in the Trujillo area. Oscar A. Alvarado Sr., a global mining leader and a technical consultant, will continue to lead the project. Once the samples are ready, they will be delivered to ALS Labs in Perth, Australia, where they will be tested for bioleaching under the supervision of Dr. Paul Miller. The company does not own any of these mines from which concentrates are obtained.
The company has been discussing with producers who want to optimize concentrates returns, acknowledging the need for a profitable and safe [procession solution in treating arsenic concentrates across the Trujillo zone.
Key Quote
“As we’ve seen in Ecuador, Peruvian producers are forced to mine selectively and avoid areas with high arsenic levels. The one big difference between projects is that Peru also includes copper in addition to gold, which has me excited,” said Ross Orr, CEO of BacTech Environmental. “Because our novel bioleaching solutions use biology to safely process a wide array of mined metals, we’re able to seek out and capitalize on these opportunities that others find prohibitive. We believe Trujillo has the type of high-pay potential that our shareholders will find attractive, but we also see ourselves partnering with the community and being in a position to help lift the local economy while maintaining exceptional margins.”
Traders Corner
BCCEF stock is trading below the 20-Day and 50-Day Moving averages of $0.1068 and $0.0996 respectively. Moreover, the stock is trading below the 200-Day moving average of $0.0860.