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Bullboard - Stock Discussion Forum EnviroMetal Technologies Inc C.ETI

Alternate Symbol(s):  EVLLF

Technology
EnviroMetal Technologies Inc. is a Canada-based company, which is engaged in the developing and commercializing economic and environmentally sustainable metal recovery technologies for applications in the gold mining industry. The Company extracts precious metals from ores and concentrates by deploying its proprietary non-cyanide, water-based and neutral pH treatment process. Its proprietary... see more

CSE:ETI - Post Discussion

EnviroMetal Technologies Inc > Group 11 Project at Rattlesnake Hills is Cancelled
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Post by BamBam76 on Sep 20, 2023 11:07pm

Group 11 Project at Rattlesnake Hills is Cancelled

Per GFG website Group 11 backed out of the insitu mining deal at GFG owned Rattlesnake Hills.  Not sure what that fully means for Envirometal?  Would be nice to get an update.
Comment by BamBam76 on Sep 20, 2023 11:08pm
https://www.gfgresources.com/news/press-release-details/2023/GFG-Provides-Update-on-Rattlesnake-Hills-Gold-Project-Option-Agreement-with-Group-11-Technologies/default.aspx
Comment by irinka37 on Sep 21, 2023 12:20am
This post has been removed in accordance with Community Policy
Comment by CanadianGoose on Sep 23, 2023 9:57am
According to EnviroMetal's most recent quarterly report:  "As at December 31, 2022, Group 11 had constrained activities and additional financing was unavailable in its market. As a result, [EnvironMetal] determined its investment to be unrecoverable and wrote the balance of its investment off through profit or loss."
Comment by bobbythebaker on Sep 24, 2023 11:02am
I'm not so sure, Canadian Goose.  Yes, Envirometal wrote down the $750,000 investment value they initially obtained on the Group 11 deal, and they state the project as currently unfinancable, but that doesn't mean the project is closed.  This month's investor presentation from Encore Energy (part owner of Group 11) has a bullet point that says:  "Investing in new ...more  
Comment by bobbythebaker on Sep 24, 2023 11:16am
My guess is the 3 entities making up Group 11 are all focused on moving ahead and deploying capital into their own core businesses.  Envirometal is getting by on a shoestring budget trying to keep a ton of balls in the air working with mining clients to get its process integrated into their process plants.  And Encore Energy and GFG are busy working on developing their own projects.  ...more  
Comment by Ballsofire on Oct 24, 2023 10:10am
Incompetent management, I invested in the reclaiming precious metals from computer, etc. waste, just sold all the equipment. Group 11 had PLENTY of years to get in- situ going for mining, no progress reports along the way for shareholders. Regenx has just built their commercial unit, ribbon cutting today! You aren't even smart enough to follow their lead and process car catalytic converters ...more  
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