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ENPAR and Dundarave Resources Inc. mutually agree to terminate the ExtrEL Nickel Recovery Technology Licence Agreement
ENPAR and Dundarave Resources Inc. mutually agree to terminate the ExtrEL Nickel Recovery Technol...
About this update from Current Water Technologies Inc
[{"type":"text","content":"\n\n\n\n Jul. 8, 2010 (Canada NewsWire Group) -- Dr. Gene Shelp, President and CEO of ENPAR Technologies Inc. (TSX-V: ENP) ("ENPAR" or "the Company") announces that, effective July 7, 2010, ENPAR and Dundarave Resources Inc. ("Dundarave") have mutually agreed to terminate the ExtrEL Nickel Recovery Technology License Agreement. The agreement stipulates that "Dundarave shall have no residual interest in the ENPAR Technology, Patent Applications, and the Improvements and the parties agree that all Licensed Rights shall revert back to ENPAR."\nCiting the current and near to medium term projected depressed nickel price and associated project economics, the parties do not foresee that Dundarave is in a position to raise funds in continuing support of the Optimization and Design phase of the ExtrEL Technology Program.\nDr. Shelp stated, "We thank Dundrave for their confidence in the ENPAR research and development group, and for their support of the ExtrEL Technology. We extend our best wishes for their success and look forward to possible future co-operative endeavours."\n"The ExtrEL System is an environmentally friendly process designed to recover nickel and other high value metals from sulphide mill waste," added Dr. Shelp. "We at ENPAR believe that hydrometallurgy represents the best potential for the future in processing sulphide ores and other base metal deposits."\nExtrEL optimization is on-going and the ENPAR technical team remains optimistic that future developments will result in a viable metal recovery system capable of competing with low-cost nickel producers. Testing to date has demonstrated 70% and 90% dissolution, respectively, of the nickel (Ni) in tailings using single and multiple-stage leach reactors.\nThe ExtrEL process offers the added benefit to the mining industry of converting this specific environmental liability to a more benign material, thereby facilitating lower cost disposal and the implementation of innovative long-term management practices such as its use underground as paste backfill.\nENPAR remains committed to its ExtrEL Program and is developing commercialization strategies for the technology.\n\nAbout ENPAR Technologies Inc.\n\nENPAR is a "Technology Company" applying its patented and proprietary "Electrochemical Te...