Ressources Minieres Pro-Or Inc.

Ressources Minieres Pro-Or Inc.

April 24, 2012 13:01 ET

Pro-Or/Very Positive Results: Third and Last Phase of the Mass Balance

MONTREAL, QUEBEC--(Marketwire - April 24, 2012) - PRO-OR (TSX VENTURE:POI). Pro-Or ("the Company") is pleased to announce the completion of work related to the mass balance study and to formalize the results of the performance of the recovery of platinum group elements (PGM) in an industrial grade thermal processor.

The work was carried out in conjunction with the CIR Laboratory over a period of five months. The CIR Laboratory has not only performed the measurements and calculations related to mass balance but also the R&D to address the challenges found in phases 1 and 2 with the help of the factory team of St-Augustin.

Based on the conclusion of the CIR Laboratory work, the minimum recovery rates are as follow:

  • Platinum 94 %
  • Palladium 94 %
  • Rhodium 90 %

These minimum rates take heed of limited statistical sampling, of error margins and of instrumentation inaccuracy. These results show that the Pro-Or process rivals favorably with other recovery processes known to date.

"The proof is now made, the Pro-Or process will change the industrial recovery of precious metals by maximizing efficiency, profitability with small size inexpensive plants. Our shareholders can certainly welcome this situation." says Sylvain Boulanger, President and CEO of Ressources Minières Pro-Or.

As of April 30, subsequent works will focus on equipment performance in continuous mode. They will allow us to measure more accurately the consumption supplies necessary for the recovery and the energy required to determine the processing cost per ton.

Dr. Claude Allaire, Ph.D., Eng, President and CEO of CIR Laboratory, Inc., as result of this mandate, said: "The CIR Laboratory has greatly appreciated helping to assess the effectiveness of the Pro-Or process for the recovery of PGM. The synergy between members of CIR and the team of St. Augustin's factory identified areas for the process improvement, including the minimization of the residual carbon content in the finished product using a new combustion method recently developed. Other challenges are still relevant for us as a source of motivation to continue, with great interest, our collaboration with Pro-Or. "

At the end of the project, Mr. André L'Heureux Eng., M.Sc., Technical Director, concludes that "The performance of the technology is operationally efficient. With changes and improvements to the process, the factory is described as very successful. I am very enthusiastic about the future development of Pro-Or and its place in the precious metals market. "

About CIR Laboratory:

CIR Laboratory is a private corporation that offers efficient and cost effective quality control solutions for the refractory, carbon and metallurgical industries, including post-mortem analyses and simulation tests. Its team of experts also offers turnkey R&D solutions to problems related to the elaboration and the use of industrial materials at high temperatures in order to optimize the most demanding processes. With ample experience in both the industrial (principal scientist at Alcan International-CRDA) and academic field (teaching master and chair holder of the NSERC chair known as REFRAL), Dr. Claude Allaire oversaw the Pro-Or sampling and results on behalf of CIR Laboratory. Dr. Allaire heads a team that has recently contributed to some successful R&D achievements, such as:

  • The development of a new process for clay decarbonation;
  • The strength maximization of a no-cement backfill paste for the mining industry;
  • The development of a new aluminum non-wetting additive for high temperature applications;
  • The development of a castable new silicon carbide-graphite.

About the Pro-Or technology

Founded in 1986, Pro-Or has become a pioneer in technology and possesses two unique patents developed since 2000 in collaboration with the INRS.(National Institute of Scientific Research post-doctorate). R&D investments totalled close to $20 million over 10 years of development through to patent. The process recovers PGMs from ore and rich concentrates of PGMs, mainly from the recycling of used automobile catalytic converters. The process is environmentally friendly and requires a small amount of energy relative to current conventional smelting processes used in PGM recovery. Benefits of Pro-Or's process include a much shorter processing time (24 hours), a high recovery rate and a small scalable facility. Pro-Or believes that their patented recovery process has the potential to transform current worldwide PGM industry practices. At today's value, the content of precious metal in a ton of ceramic extracted from catalytic converters can exceed $ 150,000 per ton.

The current spot prices per troy oz. for the precious metals are in the table below:

London market April 20 2012 (US $)
Pt (platinum) Pd (palladium) Rh (rhodium)
$1582 $667 $1385

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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