Envirogold expands corporate development strategy

16 October 2007 | 05:18 Code : 15652 Geoscience events
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After evaluating the strong level of market support for its business strategy....

  After evaluating the strong level of market support for its business strategy and the potential of its Xstrata Technology Albion Process Technology to treat ores and tailings, EnviroGold Ltd has expanded and refined its development strategy.EnviroGold executive chairman Brian Johnson said that after evaluating the business potential for the application of Xstrata Technology’s Albion Process Technology for extraction of gold and silver from sulphidic ores, particularly in Latin America and China, the company was now in a position to expand its development strategy.“We now have a three-phase development strategy that will see us quickly generate cash flow from our current core projects, and then expand to acquire wider resources in regions capable of providing potential long term earnings,” Mr Johnson said.EnviroGold’s highly experienced Latin American Business Development Manager Peter Symons has assisted the directors in formulating the development strategy, based on business opportunities he has identified in South America over the last two years. The company’s corporate development strategy is as follows:· Phase I Early cash flow from current core projects: the development of gold extraction projects from third party resources including; the 70% owned Las Lagunas tailings retreatment project in the Dominican Republic (commissioning planned for end 2008), and the 50% joint venture Trujillo gold project in Peru which will treat high grade float concentrate from refractory ore (commissioning planned for end 2009); · Phase II Mining and gold extraction from joint ventures with experienced mining companies: the application of Albion Process Technology to established resources of sulphidic ore in joint venture with an experienced local mining company; and· Phase III Mining and gold extraction operations from owned and managed by EnviroGold: consolidation on a regional basis of medium scale sulphidic ore bodies which cannot justify stand alone plants to treat refractory ore, or advanced exploration targets.With the commissioning of its first project, Las Lagunas in the Dominican Republic, expected within the next year, EnviroGold will now accelerate its business dealings and project reviews in Latin America and China to implement its strategy of controlling resources in those regions capable of providing potential long term earnings, as well as in other locations where the company has been approached in relation to specific projects.

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