It wasn't all that long ago that one of the more unique companies I have ever recommended — BacTech Environmental Corp. (BAC:CSE;BCCEF:OTC;OBT1:FRA) — found it an ordeal to raise $50,000 or $100,000 at a time to do little more than keep the doors open.
How times have changed!
Not many hours ago, BacTech's Chief Executive Officer Ross Orr (at right below, when he and his wife came through St. Augustine during the Christmas holidays to visit Yours Truly and enjoy our local breathtaking "Nights of Lights") made a VERY different kind of financing announcement.
The company is looking to raise CA$3 million; as I recall, its single-largest financing by far ever.
The price is considerably above the market price.
And yet, as the company said in today's release, "The Company (already) has expressions of interest for the total amount of the financing."
Here's what's changed to now foster an environment where Orr has people approaching him wanting "in."
The company announced last week that its recently-released Bankable Feasibility Study (BFS) is even more robust than had been reported a short time before. For people who "get" its business and ability to profitably process arsenic-laden and gold-bearing material, do better for local miners in Ecuador, and still make a very healthy income itself, this all vindicates and confirms years' worth of work.
The killer economics of the first of what could be many similar operations is why this story is getting out, together with the "ESG" bona fides this gives the company and anyone/any other business associated with it. And both local officials and Ecuador's national government will be cheerfully taking some credit for helping local miners and cleaning up the environment.
The "sweetener" in today's announced private placement is a royalty that accompanies the stock and warrants. Besides what in recent months has been rapidly-growing confidence that BacTech's day is finally about at hand, this unique financial incentive as much as anything is what has so many knocking on Ross' door for a change wanting their piece of this.
And there's more, as you can read, in part, at BacTech's News Page.
After his visit to me, Orr went to Trujillo, Peru (at right) where similar opportunities abound (as do others in Ecuador beyond the first planned facility in the Ponce Enriquez area).
The company is also now looking into opportunities to use its wares on materials containing rare earth elements.
And there's more ... much more.
If you have been asleep here, the train is about to leave the station, I.M.O. Reality will really start setting in further once the company announces that it has its project financing tied up to begin construction. I expect this news will be the next big announcement in not many weeks, as opposed to months.
And as the noted and highly successful blogger and ESG stock aficionado "Penny Queen" wrote recently, BacTech shares even now are worth a fraction of her expectations. Make sure to read her rationale for this.
For more background while there is still time:
- Check out this conversation I had with Orr awhile back (you'll get a great understanding of the technology behind the "Our Bugs Eat Rocks" motto). (NOTE: In that video I disclose that I am personally a shareholder of BacTech and I remain one as of this day.)
- And watch this conversation, too, from just last week where Penny and Ross discuss that incredible update to the BFS.
- Finally, Ross himself recently penned a great article that was just published by Innovation News Network that will give you a most personal story on his part of this journey.
Chris Temple
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Chris Temple is editor and publisher of The National Investor. He has had an over 40-year career now in the financial/investment industry. Temple is a sought-after guest on radio stations, podcasts, blogs and the like all across North America, as well as a sought-after speaker for organizations. His ability to help average investors unravel, understand and navigate today's markets is unparalleled, and his ability to uncover "off-the-radar" companies is likewise. His commentaries and some of his recommendations have appeared in Barron's, Forbes, CBS Marketwatch, Wall Street's Best Investments/The Cabot Group, Kitco.com, the Korelin Economics Report, Benzinga.com, Palisade Radio, Mining Stocks Education, Mining Stock Daily and other media.
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1) Chris Temple: I, or members of my immediate household or family, own securities of the following companies discussed in the broadcast: BacTech Environmental Corp. I personally am, or members of my immediate household or family are, paid by the following companies discussed in the broadcast: None. My company has a financial relationship with the following companies discussed in the broadcast: None. Chris Temple's and The National Investor disclosures are listed below.
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