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Market: TSX
Sector: Support Services
EPIC: BQE
Latest Price: 0.23  (-4.26% Descending)
52-week High: 1.05
52-week Low: 0.19
Market Cap: 15.74M
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Bioteq
www.bioteq.ca

BioteQ finances, builds, owns and operates water treatment plants for the world’s mining companies and utilities operators, reducing environmental liabilities while generating revenue from waste.

Full Bioteq profile here
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BioteQ reaches agreement to restart operations at Lluvia gold mine in Mexico

16th Jun 2009, 5:15 pm
BioteQ reaches agreement to restart operations at Lluvia gold mine in Mexico

Industrial waste water treatment group BioteQ Environmental Technologies Inc (TSX: BQE) said it has reached reached agreement with NWM Mining (TSX-V: COL) to re-start operations at the Lluvia de Oro - La Jojoba gold mine site in Mexico.


The agreement provides for NWM Mining to pay BioteQ for the capital cost of its SART plant (Sulphidization–Acidification– Recycle–Thickening) plus a profit margin, provides an on-going operating contract and technology fee to BioteQ for SART operations, and re-payment of loans made by BioteQ to NWM Mining, including accrued interest.

The first loan payment of C$500,000 has been received by BioteQ.


CEO Brad Marchant said: "We are pleased to reach agreement with NWM Mining and Global Resource Fund, to re-establish active operations at the Lluvia gold mine site. Global has agreed to provide NWM Mining with US$1.5 million in financing, to enable NWM to resume gold production at the Lluvia site, and initiate re-payment of the loans and capital provided by BioteQ to the project.”


“This agreement enables BioteQ to recover its investments at the site as well as generate a continuing revenue stream over the life of the gold mine from water treatment operations," he added.

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