Hi everyone,
The long-awaited signature from the President of Ecuador on the new consultation process finally happened. Patience is a virtue… I guess. So, what does that mean for BacTech and its shareholders?
First, it sets in motion the approval process that will be conducted by the government. We are by-standers to the process, but we have provided some backup video and the like to assist them in selling the project to the local community. Having visited Tenguel numerous times you get the feeling that the project will be welcomed by the locals. As the press release states, the income level of most of the new hires will be substantially higher than what they achieve through cocoa farming. In addition, we hope to be able to provide some financial education to the new employees who will be presented with an income that far surpasses anything they have received in the past. As I have said many times before, when was the last time you heard a good lottery story?
I have sat down with the Minister of the Environment, Jose Davalos, as recently as last month and I commend him for shepherding this critical decree through to fruition. Obviously, we also commend President Lasso, who as you know, has had a difficult time recently to say the least. Minister Davalos has said the project is one that he follows closely as it provides a positive spin to mining. We can mine with better technology and we can mine cleaner than we have in the past.
Finally, with respect to the other milestone, the Green Bond, we are working closely with Sequestr to provide a final package of information to be submitted to Moody’s for their consideration. This package should be sent out shortly and hopefully we will get a quick turnaround and receive the certification we need to begin marketing the bond. We are working with Analytica Securities of Quito, Ecuador as our agent of record.
Cheers
Ross OrrPresident & CEO, BacTech Environmental Corporation
Work: 416-813-0303 ext. 222Email: [email protected]Website: https://bactechgreen.com/
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