BacTech Environmental Corporation (OTCMKTS:BCCEF) (CSE:BAC) Releases Important Economic Updates: Stock Jumps 20% in a Week
Shares of BacTech Environmental Corporation (OTCMKTS:BCCEF) (CSE:BAC) have been moving higher in the past week with a jump of 20%.
Market Stats
On Tuesday, BCCEF stock ended flat at $0.10 with more than 20K shares, compared to its average volume of 20.8K shares. The stock moved within a range of $0.1000 – 0.1000 after opening trading at $0.10.
BacTech Announces Significant Economic Updates to Bankable Feasibility Study Results for Ecuador Project
Environmental technology company, BacTech Environmental Corporation (OTCMKTS:BCCEF), which focuses on delivering effective and eco-friendly bioleaching and remediation solutions, has made a major announcement on February 08, 2022. It has publicly released updated executive summary results of its 3rd party produced Bankable Feasibility Study for staged development of its 100% owner-operated bioleaching facility in Ponce Enriquez, Ecuador.
Back in July 2021, BacTech engaged South American mining and metallurgical engineering and development firm EPCM Consultores S.R.L. for undertaking independent feasibility study for the Company’s proposed bioleach processing plant to be situated in Tenguel. The location is well thought out, as it provides easy accessibility to Ponce Enriquez mining operations.
The recently released updates to the BFS outline process economics expectations and metrics pointing toward solid and long-term program viability, while considering associated capital and operating costs for the project. According to Ross Orr, CEO of BacTech Environmental, these updated results are extremely promising, and will continue driving the program forward. An EBITA of close to US$11M surely reflects well on the financial side, but he strongly feels the profits are the net results of many ESG influences.
Miners across South America are badly affected by an October 1, 2021 Chinese government-directed import tax of 13% placed on arsenic gold concentrates coming into the country for processing. There are more than 90 small mines operating in the Ponce Enriquez area of SW Ecuador. But BacTech intends to return local miner compensation back to previous payment levels.
Key Quote
“These updated results are a clear windfall for us, as the revised program economics are extraordinary,” said Ross Orr, CEO of BacTech Environmental.
Traders Corner
BCCEF stock is trading above the 20-Day and 50-Day Moving averages of $0.0994 and $0.0991 respectively. Moreover, the stock is trading above the 200-Day moving average of $0.0856.
