Electrometals in high-purity metals project in Canada13:58,...

Electrometals in high-purity metals project in Canada
13:58, Tuesday, May 15, 2007

Sydney - Tuesday - May 15: (RWE Aust Business News) -
Electrometals Technologies (ASX:EMM) and NeoFerric Technologies Inc, a
privately-owned Canadian company, have entered into a Heads of Agreement
to establish a high-purity metals project in Canada.
The objective is to establish a business to produce premium
metals from readily available feedstock by combining the patented EMEW
electrowinning technology, EMEW operational know-how, as well as the
management and financial skills and resources of Electrometals.
High-purity metals have application in the electronics and
computer chip industries.
Subject to legal and commercial advice in Canada, Electrometals
and NeoFerric will form an entity, either a joint venture or a company,
where the initial equity will be 50:50.
Electrometals will have the right to earn a 75pc equity in the
entity by the expenditure of $C1 million, subject to a stage 1 commitment
of $C100,000, to conduct a feasibility study.
Electrometals may withdraw after expenditure of this.
Electrometals will be the manager of the entity.
The particular experience brought to the project by NeoFerric
include specialise leaching of metal=bearing solids for the selected
dissolution of metals into solution, purification of metal-rich solutions
to produce high-purity electrolyte and process flowsheet development.