Second phase study
RESSOURCES MINIÈRES PRO-OR INC.
« TSXV: POI »
MONTREAL, Feb. 22, 2012 /CNW Telbec/ - Montreal, QC - PRO-OR (TSXV: POI). Pro-Or (the "Company") is pleased to announce assay results from the
second Phase of the mass balance obtained recently by CIR Laboratory
are very positive. The recovery rates achieved with the 50 T/Y reactor
at the Pro-Or plant are as follows:
greater than 95%
greater than 95%
greater than 80%, a significant improvement from the ">70%" of Phase 1
Results are based on the residues method.
The current weighted efficiency can recover more than 93.2% of the value
of PGE (platinum group elements) content in the ceramic.
To improve the recovery of rhodium, seven weeks have been necessary to
develop equipment and procedures before carrying out the mass balance
Phase 2. This challenge has allowed us to discover new possibilities of
By changing the control parameters, the PGE concentration of the
material rose from 8% to 35%. Through observations combined with
measurements, scientists were able to exploit in exceptional
conditions, the characteristics and physicochemical properties of
various chemical reactions.
These changes resulted in an unprecedented level of purity of the final
product which we were able to reach after the final stage of coking.
The carbon content decreased from 85% to less than 5% without producing
glass, which will result in an unexpected improvement for refining at
the refiner facility. The refining is the final process step which is
performed by a third party who sells the pure metal (platinum,
palladium and rhodium) directly on the precious metals markets at
All these results from Phase 2 allow Pro-Or to move to the next stage of
development while continuing to refine the operations. Pro-Or develops
a plan to operate the reactor 24 hours a day for a few weeks to collate
data on the reliability of the model.
The objective of the Pro-Or strategy is moving towards building a
commercial plant equipped with three reactors and a capacity of at
least 150T/Y and installation for industrial (CC) (catalytic
converters) decanning operation. According to our current data it
appears that a processing facility of 150 T/Y will generate revenue of
about $ 22M per year. This requires a capital investment of
approximately $ 7.5M for equipment. Pro-Or will conduct a feasibility
study to determine the parameters and installation costs of such
We are enthusiastic about the ability to project these costs and
It is anticipated that the relatively low capital expenditure compares
favorably with the construction cost of a smelter facility.
We intend to enter into commercial agreements securing long term supply
(DC) with well-structured organizations in the recovery of automobile
bodies. We seek to enter into partnership agreements with these
recycling leaders as they will provide (CC) and labor for the
decanning. Pro-Or will provide the technology, know-how, scientific
expertise and access to the refiners' network for sale and distribution
of the final PGE metals. Pro-Or in possession of 2 patents and
proprietary technologies will continue to develop and improve current
technologies and explore new R&D.
At the Pro-Or plant in St-Augustin-de-Desmaures, we have a commercial
version of a plant with a 50T/Y reactor.
The current value for platinum is $ 1637/on-troy, for palladium $
692/on-troy and for rhodium $ 1525/on-troy. This represents a weighted
average value of $ 40.94/gr. In our calculations, we consider 3.5 grams
of PGE are contained in a 1 Kg ceramic (1 (CC) = 1 Kg of ceramic). The
value of 3.5 grams of PGE in a (CC) would be typical of $147.
The potential (CC) recovery on Canadian soil is estimated by the number
of cars sold annually. According to Statistics Canada, 1.6M vehicles
were sold per year over the last 4 years. Considering each vehicle will
be recycled one day, and that the content is 3.5 grams or more per
(CC), at a present value of $ 40.94/gr., this represents at least
235.2M/year. The U.S. market is 10 times the Canadian market, it
represents $ 2.35B. For Pro-Or, the potential can result in eight
plants of 200 T/Y in Canada and 80 plants of 200 T/Y in the United
States. These figures are only that of North America and do not include
other continents and overseas markets where emerging economies are
demanding a more regulated use of emission control. In addition these
figures are based solely on automobiles and not the CC's used in
Industrial grade smoke stacks, farm equipment or other combustion
engine equipment. All of the potential CC's to be recycled on a world
wide scale represent a multi-billion dollar per year industry and
Pro-Or is excited to bring to the industry a revolutionary technology
which creates significant potential for ongoing and future revenue.
The low cost installation could enable the construction of multiple
facilities at the heart of markets which will eliminate the
transportation costs of (CC) over long distances.
Until the feasibility study is complétée! there is no certainty that the
proposed projects will be economically viable and it is also uncertain
how much of the market for recycling catalytic converters Pro-Or will
be able to capture.
For your information:
The mass balance of a chemical conversion process is used to détermine
the nature and quantity of incoming items and the résultants of the
reaction. As nothing is lost and nothing is created in science, ail the
components forming the initial product (hère, a ceramic (CC)) must be
found after processing in one form or another in a certain amount.
Thèse calculions are used to assess the amount of precious metals
contained in the (CC), the amount extracted and the mass loss due to
fire. In our case, we obtain the recovery rate for each of the platinum group éléments, as set out earlier in the
List of abbreviations:
= catalytic converters.
= tons per year (1000 Kg.)
= Platinum Group Eléments.
= capital expenditure.
• R & D
= Research and Development.
The company thanks its long-term shareholders for their patience and
confidence. We are very confident about the future of Pro-Or in the
industrial recovery of metals.
Pro-Or's President, Sylvain Boulanger, comments "We are very pleased
with the progress that has made the process robust and reliable. With
these results, potential (CC) suppliers will be interested in a
strategic commercial alliance with Pro-Or where they can increase their
profit margin on (CC). These alliances will help establish stable
prices for the supply of catalytic converters and generate lucrative
profits for Pro-Or".
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
Its team of experts also offers turnkey R&D solutions to problems
related to the élaboration and the use of industrial materials at high
températures in order to optimize the most demanding processes.
With ample expérience in both the industrial (principal scientist at
Alcan International-CRDA) and académie 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
The development of a new aluminum non-wetting additive for high
The development of a castable new silicon carbide-graphite.
About the Pro-Or technology
Founded in 1986, Pro-Or undertakes exploration on its properties at the
Menarik deposit and at Lake Ewart. Pro-Or became a pioneer in
technology and has developed two unique patents since 2000 in
collaboration with the INRS (National Institute for Scientific
Research). Investment in R & D totaled more than $ 4M for 6 years to
develop and patent the technological process for recovering PGE from
ores and concentrâtes rich in PGE mainly by recycling automobile
catalytic converters. This environmentally friendly process requires a
small amount of energy to recover PGE compared to current conventional
smelting processes. This process is very impressive and has the
potential to transform current practices of the PGE industry Worldwide.
At today's value, the content of precious metals in a ton of ceramic
(CC) may exceed $ 100,000 per ton.
Current prices per troy ounce today for the precious metals are in the
New-York market Feb 17, 2012 (US $/ oz troy)
Neither TSX Venture Exchange nor its Regulation Services Provider (as
that term is defined in the policies of the TSX Venture Exchange)
responsibility for the adequacy or accuracy of this release.
For further information:
Sylvain Boulanger President
Tel: (514) 849-7336
Fax: (514) 849-9260
Robert Mullins, Investor Relations
First Canadian Capital Corp.
Tel: (416) 742-5600 ext. 228
Cell: (416) 317-4538
Web site: www.firstcanadiancapital.com
Max Sali IR (west coast)
Baccarat Investments Inc
Tel: (604) 367-8117