Cyndara Heads of Agreement Update
Following EESTech?s recent Mine Site Remediation Heads of Agreement signing with South African company Cyndara 273 Ltd, it can now be disclosed that the project is to be configured to process up to 30 tonnes per hour or approximately 240,000 tonnes per annum. With an estimated 3.8 million tonnes of recoverable waste reserves this project has available mine waste to support up to 15 years of production.
To clarify further, this project?s processing capacity is forecasted to generate up to $19 million in gross revenues per annum, which will be shared equally between Cyndara and EESTech. With EESTech having responsibility for the supply of equipment and labour for the provisioning of waste to energy systems to power mine site water purification and agglomeration of mine waste for commercial sale.
EESTech estimates gross margins in excess of 40% from this size project, or approximately $2.5 million per annum in post-tax net profits.