Bactech shareholders approve merger with Scorpio Gold

On December 28, BacTech Mining Corp’s shareholders, at a special shareholders meeting, voted 99.6% in favour of approving the merger of the company with Scorpio Gold Corp, a 93%-owned subsidiary of Scorpio Mining Corp. In addition to approving the merger, the shareholders of BacTech voted in favour of changing the name of BacTech to Scorpio Gold Corp.  

The combined company will hold interests in two past-producing gold mines in Nova Scotia, a polymetallic exploration project in the Gaspé, Quebec, as well as access to numerous projects under evaluation by BacTech.  

BacTech has developed and patented bacterial oxidation technology for the treatment of refractory ores and concentrates to enhance the recovery of gold, silver and base metals. BacTech has successfully commissioned three bioleach plants for gold and demonstrated its technology in the selective recovery of base metals from complex sulphide concentrates in a joint project with Industrias Peñoles de C.V. of Mexico that was completed in 2001. The company’s focus is the acquisition of equity positions in projects amenable to bioleaching.