Envirogold talks expansion of NVRO addressable market

Executive Summary

• Envirogold Global Ltd. has achieved a technical advancement in its proprietary NVRO process by improving the understanding of sulphide preconcentration dynamics, which significantly expands the addressable market for the technology.
• The company has updated its site-selection framework to include lower-grade tailings deposits that were previously excluded due to low metal value per tonne, focusing instead on total recoverable sulphides containing precious and critical metals.
• This shift is expected to improve project economics by reducing capital intensity and increasing the number of potentially viable commercial opportunities, particularly for silver, gold, and critical metals.

Key Details

• Process Improvement: Enhanced understanding of sulphide preconcentration dynamics allows for more efficient processing of complex or low-grade material.
• Updated Selection Criteria:
  • Previous Criteria: Metallurgy amenable to NVRO (metal-bearing sulphides) AND sufficient metal value per tonne (historically ~$350 USD/tonne).
  • New Criteria: Metallurgy amenable to NVRO AND sufficient total recoverable sulphides containing precious and critical metals.
• Market Expansion: The change allows Envirogold to target lower-grade tailings deposits that contain significant metal value within the sulphide fraction, previously considered uneconomic or unviable.
• Performance Metrics (from previously disclosed customer base case):
  • Feed rate: 125 tonnes per hour of solids.
  • Output: Approximately 16.8 tonnes per hour of residue sold to smelters.
  • Concentration Upgrade: Approximately 7.4 times.
• Recovery Rates: Testing conducted to date has achieved gold recovery of up to 99.55% and silver recovery of up to 98.96%.
• Strategic Impact: The advancement supports a "metals without mining" strategy, aiming to build a global, capital-light technology business with reduced capital intensity and increased exposure to precious and critical metal prices.

Notable Quotes

• "The work undertaken during the 2025 optimization program has meaningfully changed how we assess NVRO project opportunities. By effectively separating value from waste through preconcentration, we can consider a broader range of tailings deposits that were previously screened out. This is an important milestone for Envirogold as it expands its addressable market, has the potential to improve project economics, and increases our exposure to precious and critical metal prices." — Grant Freeman, Chief Executive Officer