Post by Franko10 ™ on Jul 27, 2005 16:20:30 GMT -5
OreTech Announces Final Update on Beta Unit
Business Editors
PHENIX CITY, Ala.--(BUSINESS WIRE)--April 1, 2004
OreTech Inc. (OTCBB:ORTE) completed the beta unit intended to demonstrate the scalability and commercial application of its process for the effective extraction of precious metals from various ore bodies.
Initial test results of the beta unit exceeded expectations of the company's engineers, providing additional processing capacity and reduced cycle time. These changes will be accommodated in the company's commissioning of its first commercial unit scheduled for the first week of June.
Once the company has ascertained reproducibility of the results, through continuous and intensive testing, the company will commission an independent third party opinion from a qualified and authoritative industry source.
Steve Shehane, inventor of the technology, stated, "We are extremely encouraged by test results of the beta unit, and we firmly believe that the commercial unit will perform in the same manner. Should our expectations be confirmed, we could expect significantly higher profitability, resulting in increased benefits for the company and its investors."
On a related note, the company is continuing its efforts to permit its recently acquired properties in Colorado as a source of feedstock. In addition, the company is also in discussion with several other mining companies as alternate sources of feedstock.
The company has also recently finished a positive test run for Concurrent Technologies, an engineering firm under contract by the Department of Defense, for the handling and processing of electronic waste (E-Waste).
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of OreTech that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by OreTech with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Among the important factors or risks that could cause actual results or events to differ materially from those in the forward-looking statements in this release are: business and economic conditions and growth trends in the industry in various geographic regions, global economic conditions and uncertainties in the geopolitical environment; variations in customer demand for products and services; product costs or mix of products sold; dependence on the introduction and market acceptance of our technology; rapid technological and market change; litigation involving patents, intellectual property, stockholder and other matters; the ability to recruit and retain key personnel; financial risk management; our ability to raise capital to fund our operations and expansion plans; and potential volatility in operating results, among others.
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group
Business Editors
PHENIX CITY, Ala.--(BUSINESS WIRE)--April 1, 2004
OreTech Inc. (OTCBB:ORTE) completed the beta unit intended to demonstrate the scalability and commercial application of its process for the effective extraction of precious metals from various ore bodies.
Initial test results of the beta unit exceeded expectations of the company's engineers, providing additional processing capacity and reduced cycle time. These changes will be accommodated in the company's commissioning of its first commercial unit scheduled for the first week of June.
Once the company has ascertained reproducibility of the results, through continuous and intensive testing, the company will commission an independent third party opinion from a qualified and authoritative industry source.
Steve Shehane, inventor of the technology, stated, "We are extremely encouraged by test results of the beta unit, and we firmly believe that the commercial unit will perform in the same manner. Should our expectations be confirmed, we could expect significantly higher profitability, resulting in increased benefits for the company and its investors."
On a related note, the company is continuing its efforts to permit its recently acquired properties in Colorado as a source of feedstock. In addition, the company is also in discussion with several other mining companies as alternate sources of feedstock.
The company has also recently finished a positive test run for Concurrent Technologies, an engineering firm under contract by the Department of Defense, for the handling and processing of electronic waste (E-Waste).
This release may be deemed to contain forward-looking statements, which are subject to the safe harbor provisions of the Private Litigation Reform Act of 1995. These forward-looking statements include, among other things, statements regarding future events and the future financial performance of OreTech that involve risks and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual future events or results. Readers are referred to the documents filed by OreTech with the SEC, specifically the most recent reports on Forms 10-K and 10-Q, each as it may be amended from time to time, which identify important risk factors that could cause actual results to differ from those contained in the forward-looking statements. Among the important factors or risks that could cause actual results or events to differ materially from those in the forward-looking statements in this release are: business and economic conditions and growth trends in the industry in various geographic regions, global economic conditions and uncertainties in the geopolitical environment; variations in customer demand for products and services; product costs or mix of products sold; dependence on the introduction and market acceptance of our technology; rapid technological and market change; litigation involving patents, intellectual property, stockholder and other matters; the ability to recruit and retain key personnel; financial risk management; our ability to raise capital to fund our operations and expansion plans; and potential volatility in operating results, among others.
COPYRIGHT 2004 Business Wire
COPYRIGHT 2004 Gale Group