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ENPAR receives preliminary proposals to commercialize ExtrEL Leaching Technology for the recovery of nickel from mine tailings
ENPAR receives preliminary proposals to commercialize ExtrEL Leaching Technology for the recovery of nickel from mine tailings.
About this update from Current Water Technologies Inc
[{"type":"text","content":"\n\n\n\nGUELPH, ON, July 12 /CNW/ - ENPAR Technologies Inc. ("ENPAR") is pleased\nto announce that preliminary proposals have been received from two separate\nparties who are interested in entering into a business relationship to\ncommercialize the Company's ExtrEL Leaching Technology.\n\n\nOne of the parties is currently active in the nickel sector and has\naccess to nickel sulphide tailings.\n\n\nBoth parties are prepared to contribute substantial monies towards the\ncommercialization of the Technology.\n\n\nInitially, these funds would be used for the optimization of the ExtrEL\nleaching process, which would be completed within three months. The\noptimization process would result in design and operating parameters that form\nthe basis for construction and operation of a large-scale on-site pilot plant.\n\n\nENPAR believes that a large scale commercial plant could be undertaken\nwithin 18 months following successful testing of the pilot plant. Based on\ncurrent nickel prices, ENPAR estimates that the capital cost of the facility\nwould be recovered within 6-12 months.\n\n\nThe benefits of the ExtrEL Technology to the mining industry are two\nfold: the economic recovery of the substantial intrinsic nickel value of the\ntailings; and the production of a residual material that has a considerably\nlower environmental liability.\n\n\nENPAR cautions its shareholders that the proposals are preliminary, but\nupdates on the progress of these negotiations will be provided on a timely\nbasis.\n\n\nENPAR is a "Technology Company" applying its patented and proprietary\n"Electrochemical Technologies" to the recovery of base metals and to the\ntreatment of waste water and drinking water contaminated by metals or\nnutrients i.e., nitrate/ammonia associated with the mining, metal processing,\nchemical, agricultural, municipal and waste management sectors. The common\nshares trade on Tier ll of the TSX Venture Exchange under the symbol "ENP".\n\n\nThe TSX Venture Exchange has not reviewed and does not accept\n\n\nresponsibility for the adequacy or accuracy of this release.\n\n\nThis news release contains forward-looking statements within the meaning\nof the "safe harbour" provisions of the Private Securities Litigation Reform\nAct of 1995. These forward-looking statements are subject to risks an...