MONTRÉAL, QC / ACCESSWIRE / June 13, 2023 / St-Georges Eco-Mining Corp. (CSE:SX) (OTCQB:SXOOF) (FSE:85G1) is pleased to announce that the first modular industrial recycling circuit capable of processing 7,800 tonnes of battery per year has cleared Canadian customs in Montréal and will be forwarded to the Company's battery recycling facility in Thorold, Ontario.
The Company expects to inspect the modules and begin installing the line at its facility this summer. The line is already CSA certified. Control panels and automation modules will be configured, upgraded, and integrated with the Company's ERP platform. Trial test runs should also be initiated over the summer.
The Company is also upgrading its alkaline battery circuit, capable of processing 4,500 tonnes of batteries per year, and currently installed in its Thorold facility. The upgrade is being done to facilitate environmental authorization and optimize the mostly automated operations of the line. The line is expected to be upgraded by early July and greenlit for operations at that point.
To coincide with the start of operations, loan financing, equipment tax credits, and grants are being applied for, and management expects to finance the operation's cash flow by arranging a bank line of credit.
"(…) We will have a busy summer (…) there are enough batteries sourced out for the testing and optimization of both lines and the start of operations. EVSX will finish the summer with a streamlined, optimized, top-of-the-industry battery capacity in excess of 10,000 tonnes per year (…) the efforts made on automation and the remote control of operations should allow the Company to be highly competitive (…) Management is now embarking on a marathon of negotiation with Asian and European trade desks and aggregators to increase the amount of batteries that it can store for processing to increase operational volume as the initial capacity will exceed all domestic and commercial batteries available on the Canadian marketplace (…) commented Enrico Di Cesare, CEO of EVSX.
A second modular industrial recycling circuit is currently on its way to the port of Vancouver. The Company is monitoring and planning for potential disruption linked to labor negotiations underway at the port. If the situation is not resolved in early July, the third line will be placed in transit when alternate delivery routes are available.
Agreements are in place to sell aluminium, steel, and copper from the initial processing and separation of battery metals. The Company also expects to ramp up its collaboration with its Italian partners to seek additional battery volume from southern Europe.
ON BEHALF OF THE BOARD OF DIRECTORS
‘Enrico Di Cesare'
ENRICO DI CESARE
CEO of EVSX & Vice-President R&D and Director of St-Georges Eco-Mining Corp.
About St-Georges Eco-Mining Corp.
St-Georges develops new technologies to solve some of the most common environmental problems in the mining sector, including maximizing metal recovery and full-circle battery recycling. The Company explores for nickel & PGEs on the Manicouagan and Julie Projects on Quebec's North Shore and has multiple exploration projects in Iceland, including the Thor Gold Project. Headquartered in Montreal, St-Georges' stock is listed on the CSE under the symbol SX and trades on the Frankfurt Stock Exchange under the symbol 85G1 and as SXOOF on the OTCQB Venture Market for early stage and developing U.S. and international companies. Companies are current in their reporting and undergo an annual verification and management certification process. Investors can find Real-Time quotes and market information for the company on www.otcmarkets.com
Visit the Company website at www.stgeorgesecomining.com
For all other inquiries: [email protected]
The Canadian Securities Exchange (CSE) has not reviewed and does not accept responsibility for the adequacy or the accuracy of the contents of this release.
SOURCE: St-Georges Eco-Mining Corp.