BacTech Environmental(CNSX:BAC) announced entering into an agreement with Newalta Corporation. Newalta have agreed to contribute $300,000 towards the Preliminary Economic Assessment at Snow Lake, Manitoba.
As quoted in the press release:
BacTech is also pleased to announce that the contract to conduct the PEA has been awarded to Micon International. The PEA is being done at this time to quantify the value of the Project, within +/- 30%. The completion of a positive PEA will lead to the start of the feasibility study that will be undertaken in early 2012 in conjunction with the completion of the bioleach testing currently underway.
BacTech, President & CEO, Ross Orr, said:
We are pleased to work with Newalta on this project and look forward to the opportunities from combining our proven technology with Newalta’s engineering expertise and operating capabilities.
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