To: IngotWeTrust who wrote (42 ) 5/31/2000 11:59:00 PM From: Henrik Read Replies (1) | Respond to of 70
Notice re: Relationship with Electrometals Technology Ltd GEO2 LIMITED 2000-05-26 ASX-SIGNAL-G HOMEX - Melbourne +++++++++++++++++++++++++ In February 2000, Geo2 completed transactions whereby it became a significant shareholder in Electrometals with a shareholding of 2,500,000 shares. It has now taken a further placement of 500,000 shares at 20c, which has increased Geo2's shareholding in Electrometals to 8.5%. In addition Geo2 has accepted a position on the Board and Mr Charles Laycock has agreed to serve as a non-executive director of Electrometals. ELECTROMETALS & GEO2'S ENVIROCLEAN PROCESS Geo2 recently purchased an Electrometals electrowinning cell (EMEW) for the recovery of metals, especially heavy metals. The removal of heavy metals such as lead arsenic, manganese, copper, zinc, mercury and cadmium - all of which are highly toxic - from existing contaminated sites is extremely difficult and the treatment of the problem with existing technologies is expensive. Geo2's Enviroclean soil remediation technology is an acid leaching process for removing metals from soils and is being developed to enable on site remediation of heavy metal contaminated soils at a cost cheaper than the unacceptable landfill option. This process is designed to enable the recovery metals to be re-used by industry and for the cleaned soil to be utilised as a re-usable resource. Geo2 has been working closely with Electrometals on recovering lead from the Enviroclean leach liquor, which contains the lead removed from the soil. Results from these trials have been very encouraging. Success in this area will allow Geo2 to finalise the research project that has been partly funded by a Commonwealth Government START grant. It will also help Geo2 take a significant step towards commercialising the Enviroclean process. This technology is seen as having significant opportunities for use in industrialised countries, especially the USA. ELECTROMETALS AND GEO2'S GREEN PRECIPITATE PROCESS (GPP) The GPP is designed for the remediation of acid mine drainage waters that are contaminated with sulphides and heavy metals. The process turns the pollutants in the contaminated water into insoluble mineral form at which point they can be separated from the water. The work to be undertaken on the GPP is to test the ability of the EMEW to recover metals from the precipitate. Geo2's aim is to develop a technology packaged around its Green Precipitate process. This will allow acid mine drainage water to be neturalised while being cleaned of dissolved pollutant metals. The resultant water will be useable by people, industry and agriculture. The metals are to be recovered from the precipitate in a useable form. On 11th May 2000, Electrometals made an announcement to the ASX that: "Electrometals also wished to advise that it's EMEW technology has recently been trialed in laboratory scale an water obtained from the Berkeley Pit in Montana, USA,............... The current trial ................confirmed that our EMEW technology will extract copper from the Berkeley Pit water down to very low levels and deliver that copper in the form of saleable metal. It appears from the trial that this can be done at a cash cost well below the current price of copper. It follows that our technology could be used to profitably extract most of the substantial quantities of dissolved copper in the Berkeley Pit, and thereby achieve environmental benefits while also generating funding for other remediation procedures to complete the clean up of this site". Geo2 aims to couple the EMEW technology with its own GPP to create a technology package that will be the first truly economic, efficient and complete acid mine drainage remediation process. C Laycock EXECUTIVE CHAIRMAN