Pro-Or Inc.: Supply Agreement for the Continuous Operation at Quebec City Facility
Partner for the construction of a 200-300 tons facility
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwire) -- 05/11/12 -- PRO-OR (TSX VENTURE: POI). Pro-Or Inc. (Pro-Or) is pleased to announce that it has entered into a Definitive Supply Agreement (the "Agreement") with PGM Solutions Inc. of British Columbia. PGM Solutions Inc is a newly incorporated company that has been structured for the sole purpose of supplying Pro-Or with catalytic converters (CC). The initial terms of the Agreement call for the supply of 50 tons per year of CC's to Pro-Or's 100% owned test facility in Quebec City. In addition, Pro-Or and PGM Solutions are negotiating the terms of an agreement that will include the supply and construction of a 200-300 ton processing facility. It is anticipated that this first commercial scale facility will be located in British Columbia.
Pro-Or is pleased to be partnering with Greg Dahl, President of PGM Solutions and CCON Metals. Mr. Dahl has extensive experience and connections in the recycling industry, specifically in catalytic converter processing. With worldwide reach, PGM Solutions Inc. and CCON Metals have built a network with capacity to supply 1MM catalytic converters per year to Pro Or. Mr. Dahl also owns several recycling yards and maintains strategic relationships on 3 continents in the supply and processing of catalytic products.
In addition to the aforementioned Agreement, Pro-Or is pleased to announce that it has begun running its test facility in Quebec City at full capacity for 24 hours a day over cycles of 4 days per week (96 hours per cycle). During this exercise, the throughput at the facility is expected to reach approx. 120Kg of catalytic ceramic per day. Pro-Or expects that this continuous run will provide better visibility on recoveries of PGMs and the economic potential of a full scale commercial facility.
About the Pro-Or technologies
Founded in 1986, Pro-Or has become a pioneer in technology and possesses two unique patents developed since 2000 in collaboration with the INRS. (Institut National de la Recherche Scientifique - Quebec). R&D investments totalled close to $4 million over 10 years of development through to patent. The process recovers PGMs from ore and rich concentrates of PGMs, mainly from the recycling of used automobile catalytic converters. The process is environmentally friendly and requires a small amount of energy relative to current conventional smelting processes used in PGM recovery. Benefits of Pro-Or's process include a much shorter processing time (24 hours), a high recovery rate and a small scalable facility.
The current spot prices per troy oz. for the precious metals are in the table below:
London market May 09 2012 (US $)
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Contacts:
Sylvain Boulanger President
(514) 849-7336
(514) 849-9260 (FAX)
Website:
Jamie Frawley
Investor Relations
First Canadian Capital Corp
(416) 742-5600 ext. 228
Website:
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Datum: 11.05.2012 - 11:00 Uhr
Sprache: Deutsch
News-ID 145478
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contact information:
Town:
MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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