EESTech Announces Agreement with Keystone Mining (Pty) Ltd
BRISBANE, Australia, Sept. 17, 2013 /PRNewswire/ -- EESTech Inc, a publicly traded company on the OTC Markets, trading symbol EESH, announced today that it has signed a binding Heads of Agreement with Keystone Mining (Pty) Ltd, a privately held company that owns significant coal and iron ore reserves within the Kwa Zulu-Natal and greater Witbank coal field region of South Africa.
Having completed an evaluation of EESTech's ability to deliver a stand alone mine site remediation service incorporating waste to energy platform to enable water treatment and waste agglomeration, Keystone has contracted EESTech to implement this environmental management solution for their current and future mining operations.
The Heads of Agreement signed by Mr. Murray Bailey EESTech CEO and Keystone's Managing Director Mr. Victor Van Rooyen lists the nominated mines that will become certified as EESTech WRAM Treatment Sites, which will become a hallmark for Keystone in mine site remediation and environmental sustainability. These include;
The Klip 25 (Kendal/Ogies) mining area is an opencast mine with a Mining Right (MR). The coal on this site is of a typical grade used by Eskom, South Africa's national power provider, with a specification of (19-21Cv). The mine produces 25,000 metric tons (mt) per month of Run of Mine (ROM), which is delivered to local blenders for supply to Eskom. This mine site has approximately 500,000mt remaining, with the prospect of additional coal being available under an existing prospecting right (PR) adjacent to the current mining area. There is potential to install the WRAM to upgrade the approx 500,000mt of waste coal fines that have been left by the previous 5 years of mining at the current site.
EESTech's objective would be to undertake a total remediation of this mine site, with the potential to generate a net profit of $10.00 per ton.
The Blesboklaagte (Witbank) PR with the MR in the final month of execution, expected tonnage is 7,000,000mt of coal at 23/24Cv. This project has as a challenge the treatment and handling of already polluted ground water and is on the fringes of the fast growing mining and industrial town of Witbank.
The opportunity for EESTech under this agreement is to use this operation as a demonstration site by resolving the massive concurrent water handling issues (with a magnitude of 150,000,000 cubic metres), with a continual 'make-up' decanting from the greater Witbank basin, together with annual rainfall periods. This is an ideal opportunity to offset against the mining operation, and /or selling back to the potential users.
This would be a flagship project, demonstrating EESTech environmental mine site remediation services. The HCGT would be used to power mine site start up, with generated power being used for the Blue Drop water treatment / purification and the WRAM system for the upgrading of waste discard and coal fines. With a 15 to 20 year project life and with the accumulated waste from mining operation expected to be 10% to 15% of production.
Witbank 'North Area' this is a second PR that will be added to the above and just awaits a MR, this addition will yield a typical thermal coal with good qualities with a potential of 5million to 10 million metric tons.
Greater Witbank area 'Top Coal' this is the typical 2-seam coal that was stockpiled as it was classified as 'lower grade' by the then mining company. There is 6,000,000 metric tons on the surface which will be ideal feedstock for EESTec's WRAM system. Samples are being provided to EESTech for test work. Test results will be used to determine the design configuration for this project.
Dundee area, Anthracite, this is a large prospect with gross tonnage over 100,000,000 metric tons of a true anthracite - Vols < 7, this project is currently in the final stages of exploration and license issuance. This project will require the application of EESTech's HCGT waste to energy power generation plant, designed to meet all project energy needs, an integrated Blue Drop water purification process plus a WRAM system for the agglomeration of all waste coal discard and saturated coal-fines from the settling ponds for sale into the international resource markets.
Anthracite 2, this is pseudo anthracite with Vols < 10, with potential to pulverize the coal and upgrade using the WRAM process. Samples to be provided to EESTech mid September for testing.
Exploration - Gold/Silver/Nickel, Barbeton area. A large PR undergoing current drilling and test work. Samples to be provided to EESTech for testing. EESTech will be required to provide power, water and waste agglomeration using the WRAM system.
Exploration - Iron ore, Steelport area, under early stage exploration, drill cores and sample pit material is available. These will be provided to EESTech for assessment
Summary - under the Heads of Agreement signed with Keystone each of the projects above will be implemented on all or any of the sites at the sole discretion of EESTech Inc, A due diligence review of each of the projects was undertaken prior to the signing of the Heads of Agreement. EESTech and its project partners, the Aveng Group, have initiated an engineering / process design and scope of works as part of a bankable feasibility study to ensure that contracts can be completed where projects are deemed to be economically viable and environmentally sustainable.
Forward Looking Statement:
This media release includes statements that may constitute 'forward-looking' statements. The statements can generally be identified by phrases such as EESTech, Inc. or its management 'believes' 'forecasts', 'estimates' or other words or phrases of similar import. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.
Similarly, such statements herein that describe the Company's business strategy, outlook, objectives, plans, intentions or goals are forward-looking statements.
Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from forward-looking statements.
Factors which could cause or contribute to such differences include, but are not limited to our ability to recruit and retain key personnel' the availability of funding for future operating requirements, our ability to protect our intellectual property, our ability to secure contracts for the installation of our products and our ability to develop and operate such projects successfully.
We urge you to carefully consider these factors and the information detailing other factors (which may cause actual results to differ materially) included in EESTech, Inc.'s press releases and other historical SEC filings. The forward-looking statements are based on current expectations and neither the Company nor its management assumes any obligation to update these statements.
For further information please call Dennis Rutzou on +612-9413-4244.
SOURCE EESTech Inc.