London, UK - Cycladex Ltd, the developer of a patented environmentally clean, safe and effective gold recovery process has today signed an exclusive collaboration agreement with LatCommodities for the commercialization of its technology in Chile and certain other Latin America Countries. LatCommodities is a privately funded Company with a history of mining deals in South America.
The collaboration includes the payment of a license fee, milestone fees and a profit-sharing agreement to Cycladex and it is expected that LatCommodities will build, fund and operate a number of plants using the Cycladex technologies. It has identified a number of short-term revenue opportunities where it can introduce the Cycladex technologies immediately to process gold tailings where the existing flotation technology is currently not recovering high enough yields of gold.
Cycladex has developed and patented process for isolating gold and silver which is run at neutral pH, does not use cyanide, reduces operating and capital costs, reduces gold recovery time scales using an estimated 50% less water and helps gold miners avoid land contamination completely.
In the last few months, the Cycladex Team has visited Chile and demonstrated the efficacy of its technology at two sites with tailings and these will both provide attractive short-term and immediate opportunities. Once the first plant is built at these sites, it is anticipated that similar plants will be replicated at a variety of mining sites in Latin America.
Commenting today Roger Pettman, Executive Chairman of Cycladex said:
“I am delighted that Rodrigo and his team have joined us and will be building plants in South America to commercialize our technology. We both see opportunities in the smaller mines where we can move quickly into production and where we do not have to wait for a mine to be developed,”
Also commenting Rodrigo Hernandez, Chief Executive Officer of LatCommodities:
“I’m look forward to working with Cycladex and commercializing their technology throughout Latin America. We have already have a very exciting tailings project to work on and this is just the start of us rolling out this exciting new technology for isolating gold and silver using this cost effective, environmentally friendly technology”
In December 2019 Cycladex raised development funds through London stockbrokers WH Ireland with follow on funding ion April 2020 following a presentation at their family office / high-net-worth Investor Forum ensuring the company is well positioned to push forward with its immediate growth plans.