Geo2 Ltd. An Australian listed high-tech Company (Australian Exchange - GEL, OTC - GEOTY). Plans a public listing in America after SEC filings completed.
Has developed AC Mill Reactor which is a cyanide free unit for rapid dissolution of gold using patented Electro Chemical Cell Technology - can dissolve gold from ore many times faster than existing technology. Can operate on a small scale in the field with reduced capital and production costs.
Geo2 has signed a 20 year (49% profit share) joint venture with a Chinese mining company to form Lian Australian Gold Company, in Liaoning Province located NW of Bejing. The province does not allow cyanide treatment of ores because of heavy environmental damage, especially to acquaculture industry. The project will commence with a 10 tonne per day plant and be upgraded progressively to 100 tonnes per day. The area has many small scale but very rich oxidized ore bodies.The test trials will run for a year to prove that that the plant can operate in rugged conditions by a low skilled work force. The technology will then be mass produced and marketed around the world by way of joint ventures to mining companies that have small deposits and cannot afford to bring them into production. Geo2 will supply the technology and the mining company the deposit, both will share the profits.
The Chinese Government also sold Geo2 a 51% controlling interest in the new HuLuDao Australian Gold Refining Company, also in Liaoning Province. The venture involves the scaling up of a current hyrometallurgical gold recovery plant at the modern Shui Quang Gold Refinery, one of seven major refineries in China and the only one sold to a Western Company. The refinery treats sulphide ore concentrates containing gold averaging 60 g/t plus copper at 6% and more than 100 g/t of silver with other metal credits. The refinery currently treats 20 tonnes per day, will be stepped up to 50t/p/d and progressively to 300 t/p/d. The refinery will be controlled by computer located in Australia.
Geo2 expects within five years to have combined revenues of over A$120 million from both ventures (US$75M). Newmont has already purchased some of Geo2 technology and is testing other plant for low cost treatment of gold ore. The company has also developed other technologies that have evolved from the mining industry and are used to clean air water and soil.
The current share price in Australia is A$0.30 cents for a fully diluted market cap of US$25M. The ADR's are quoted in the pink sheets but will move to an exchange in due course. More to follow, the other technologies will be covered on another SI thread. For more information go to the Geo2 website <geo2.com.au> and order an investor package. |
