"We are in the process of securing funding for our proposed plant and transition from a 50 ton per year facility to a commercial 200 ton per year facility that will generate significant revenue. The capital investment should be available through a consortium of suppliers, equipment financiers, feedstock inventory loan, debt and equity investors", stated Sylvain Boulanger, President and CEO of Pro-Or.
(1) A hazard and operability study (HAZOP) is a structured and systematic examination of a planned or existing process or operation in order to identify and evaluate problems that may represent risks to personnel or equipment, or prevent efficient operation.
WEBCAST CONFERENCE CALL
Pro-Or will hold a webcast conference call on June 27, 2013 at 10:30 am Eastern Time to discuss the economic results of the Seneca study. To access this conference call, please go to the Company's website at www.pro-or.com
Seneca is an independent Canadian consulting engineering firm with over 60 employees, offering engineering services in Montreal and Toronto with expertise in industrial processes and associated fields of mechanical and electrical engineering, instrumentation, and project management.
Pro-Or operates an industrial prototype plant for the recovery of Platinum Group Elements (Platinum, Palladium and Rhodium or PGMs). The plant is located near Quebec City in St-Augustin-de-Desmaures. Its patented process yields more than 97% recoveries of PGMs, and is not only much less capital extensive but also operates much more rapidly than conventional plants thus dramatically lowering the amount of time that its customers capital is tied up as work-in-process inventory. Pro-Or's mission is to sustainably recover precious metals by the recycling of end-of-life PGM containing components while meeting global "green" standards for the automobile industry.
Pro-Or also holds the mineral rights to six mining properties and has focused its exploration activities on the Menarik property in the James Bay area, in the Province of Quebec, the site of a major chromite deposit with occurrences of gold, nickel, copper and platinum group metals (PGMs). The operation of Pro-Or's patented and proprietary processes to such ore bodies promises a breakthrough in low cost primary mining metallurgy in the near future.
Neither TSX Venture Exchange nor the Supplier of services regulation (as defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This Press Release contains statements which constitute 'forward-looking, including statements regarding the plans, intentions, beliefs and current expectations of the Company, its directors, or its officers with respect to the future business activities and operating performance of the Company. The words "may", "would", "could", "will", "intend", "plan", "anticipate", "believe", "estimate", "expect" and similar expressions, as they relate to the Company, or its management, are intended to identify such forward-looking statements. Investors are cautioned that any such forward-looking statements are not guarantees of future business activities or performance and involve risks and uncertainties, and that the Company's future business activities may differ materially from those in the forward-looking statements as a result of various factors. Such risks, uncertainties and factors are described in the periodic filings with the Canadian securities regulatory authorities, including the Company's Annual Information Form and quarterly and annual Management's Discussion & Analysis, which may be viewed on SEDAR at www.sedar.com. Should one or more of these risks or uncertainties materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results may vary materially from those described herein as intended, planned, anticipated, believed, estimated or expected. Although the Company has attempted to identify important risks, uncertainties and factors which could cause actual results to differ materially, there may be others that cause results not be as anticipated, estimated or intended. The Company does not intend, and does not assume any obligation, to update these forward-looking statements.
Sylvain Boulanger, P.Eng.
President & CEO
Nicole Blanchard, Managing Partner
Sun International Communications
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