TORONTO, April 14, 2022 (GLOBE NEWSWIRE) — EnviroGold Global Limited (CSE: NVRO | OTCQB: ESGLF |FSE: YGK) (“EnviroGold Global” or the “Company“), a Clean Technology Company accelerating the world’s transition to a circular-resource economy through the production of Metals Without Mining, is pleased to announce the appointment of Mr. Bruce Higson – Smith to the Company’s Board of Directors, effective May 16th, 2022.
Having served on the board of 4 public companies, Bruce is a senior executive with over 40yrs of mining, metals and capital markets experience, including 25yrs of experience as a senior executive for firms including Golden Star Resources Ltd (NYSE AMEX: GSS), where he led the firm’s corporate strategy and M&A initiatives including debt and equity transactions in excess of $650M. Prior to that he was a portfolio manager for both Resource Capital Funds, and the Emerging Markets Gold Fund where he structured equity and convertible debt products for mining companies. Bruce also served as the General Manager of Golden Star’s mines in Ghana, both open pit and underground operations producing over 200,000 oz per year during his tenure. A Member (35+ years) of the Society of Mining Engineers, Bruce is currently the Chair of South Atlantic Gold, a TSX-V listed gold and copper exploration company with projects in B.C. and Brazil, and Strategic Advisor (M&A, finance, technical) to the board of directors of Federation Mines Ltd. Bruce earned an M.B.A. from Baruch College, City University of New York in 1992 and a B.Sc. (Min. Eng.), with Honours, from the Royal School of Mines, Imperial College in 1982; his post graduate education includes M&A (UCLA), Resource Estimation & Geostatistics (Snowden), Metallurgy (Colorado School of Mines), International Mining Law (University of Dundee).
Commenting on the appointment, Mr. David V. Cam, EnviroGold Global Executive Chair, said, “Bruce’s profound ability to successfully bridge the gap between technical/operational and strategic/capital initiatives while leading and achieving mission-critical corporate objectives has been demonstrated time and again over his decorated career. We are thrilled that Bruce will be joining EnviroGold Global and enhancing our world-class team as we execute our vision of accelerating the world’s transition to a circular-resource economy by producing Metals Without Mining.”
In addition to the appointment of Mr. Bruce Higson-Smith, the Company also announces the planned retirement of Mr. R. Sean Foley from the Company’s Board of Directors. A member of EnviroGold Global’s founding team, Sean’s strategic leadership was instrumental in growing the Company from concept to successful operating enterprise. Sean served as the Company’s Chief Financial Officer prior to joining the board as an Executive Director; he also led the Company’s listing to the Canadian Securities Exchange where the Company’s market capitalization has exceeded $100M. Following decades of experience as a senior executive, Sean looks forward to enjoying a well – deserved sabbatical as he plans his next steps. Sean remains a major shareholder of the Company and has added to his significant holdings of the Company through open market transactions and participation in the Company’s recent private placement.
About EnviroGold Global
EnviroGold Global (CSE: NVRO) (OTCQB: ESGLF) (FSE: YGK), is a CleanTech company dedicated to creating shareholder value while establishing ESG & circular economy leadership by profitably reprocessing & remediating mine waste (tailings) to recover precious, critical & strategic metals – including gold, silver, copper & nickel. Led by CEO Dr. Mark Thorpe, the Company is strategically positioned to earn and maintain social license while capitalizing the estimated US$ 3.4 trillion of in situ metal value in global tailings. Dr. Thorpe is also the Chairman of the Canadian Mining Innovation Council.
The Company’s commercial strategy involves identifying, qualifying and developing tailings reprocessing opportunities, generally targeting tailings sites with at least 6M metric tonnes of tailings and gross recoverable metal value of $124/tonne of tailings. The Company has reviewed over 300 global tailings sites to date and through further market segmentation has identified potential targets exceeding US$10 billion in gross recoverable metal value.
EnviroGold Global acquires the metal recovery rights to tailings sites by leveraging a profit share business model to create an attractive value proposition for site owners. The Company’s low-CAPEX business model is designed to generate high free-cash flow & high target IRR while eliminating the risks of traditional exploration and extraction. The Company expects to produce metals with a carbon footprint up to 96% lower than conventional metal producers while reducing the environmental footprint of legacy mining.
As of January 2022, the Company has eight major projects in its global project pipeline including two major projects under definitive contracts and six additional major projects at various stages of commercial negotiation and detailed technical/economic review.
The Company expects to commence production of precious metals (gold and silver), clean energy metals and battery metals (copper, lead, zinc) in 2022 and is targeting seven major projects in commercial production by 2025.
Dr. Mark B. Thorpe
Chief Executive Officer
Telephone: +1 416 777 6720
Juan Carlos Giron Jr.
Sr. Vice President
Telephone: +1 416 777 6720
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this news release. There is no relationship between the Company and the World Resources Institute or the Greenhouse Gas Portal and nothing in this news release should be interpreted as suggesting an endorsement by the World Resources Institute or the Greenhouse Gas Portal.
Forward Looking Statements
This news release contains “forward-looking statements” within the meaning of applicable securities laws, including, without limitation, earnings guidance, economic guidance, operational guidance and future capital spending amounts. All statements contained herein that are not clearly historical in nature may constitute forward-looking statements.
Graphical representations included in this news release are approximate representations which may vary from defined regulatory boundaries.
Generally, such forward-looking information or forward-looking statements can be identified by the use of forward-looking terminology such as “plans”, “expects” or “does not expect”, “is expected”, “budget”, “scheduled”, “estimates”, “forecasts”, “intends”, “anticipates” or “does not anticipate”, or “believes”, or variations of such words and phrases or may contain statements that certain actions, events or results “may”, “could”, “would”, “might” or “will be taken”, “will continue”, “will occur” or “will be achieved”. The forward-looking information and forward-looking statements contained herein include, but are not limited to, statements regarding the expected terms of the Hellyer Tailings Reprocessing Project and its completion, the Company’s working relationship with the owner(s) of the Hellyer Tailings, the economic viability of the Hellyer Tailings Reprocessing Project and statements regarding any residual precious metals as a by-product of the remediation, the Company’s expansion of its reprocessing pipeline, and the Company’s ability to accelerate the world’s transition to a circular resource economy. Forward-looking information in this news release are based on certain assumptions and expected future events, namely: the Company’s ability to continue as a going concern; the continued commercial viability and growth in the clean technology and mining waste reprocessing industry; continued approval of the Company’s activities by the relevant governmental and/or regulatory authorities; the continued development of clean technology and mining waste reprocessing technology; and the continued growth of the Company. These statements involve known and unknown risks, uncertainties and other factors, which may cause actual results, performance or achievements to differ materially from those expressed or implied by such statements, including but not limited to: the potential inability of the Company to continue as a going concern; the Company’s inability to accelerate the world’s transition to a circular resource economy, the risks associated with assessing metallurgical recovery rates from mine tailings and waste and related volumetric assessments, the risks associated with the mining and mining waste recycling industry in general; increased competition in the clean technology and waste reprocessing market; the potential unviability of the clean technology and mining waste reprocessing market; incorrect assessment of the value and potential benefits of various transactions; risks associated with potential governmental and/or regulatory action with respect to clean technology and mining waste reprocessing; risks associated with a potential collapse in the value of clean technology and waste reprocessing; and risks relating to the Company’s potential inability to expand its reprocessing pipeline.
Readers are cautioned that the foregoing list is not exhaustive. Readers are further cautioned not to place undue reliance on forward-looking statements, as there can be no assurance that the plans, intentions or expectations upon which they are placed will occur. Such information, although considered reasonable by management at the time of preparation, may prove to be incorrect and actual results may differ materially from those anticipated. Forward-looking statements contained in this news release are expressly qualified by this cautionary statement and reflect the Company’s expectations as of the date hereof and are subject to change thereafter. The Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, estimates or opinions, future events or results or otherwise or to explain any material difference between subsequent actual events and such forward-looking information, except as required by applicable law.