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Be the first with the news that moves the market- Dundee Sustainable Technologies (CSE:DST) has signed a commercial agreement for its patented GlassLock Process technology
- The deal was made with an unnamed gold and copper producer
- Under the terms of the agreement, Dundee will receive a C$1.41 million cash payment for the use of its technology on copper smelting operations
- After years of research and development, the contract signifies Dundee’s move into a phase of commercialisation
- Dundee Sustainable Technologies (DST) is holding steady, with shares currently trading at $0.25
Dundee Sustainable Technologies (CSE:DST) has signed a commercial agreement for its patented GlassLock Process technology worth C$1.41 million.
The GlassLock Process works by sequestering and stabilising arsenic, which is often associated with copper, gold, silver or polymetallic deposits. Materials with high arsenic contents are typically difficult to process without subsequent environmental risks.
Through Dundee’s technology, the arsenic is incorporated into a highly stable and insoluble glass form, which can then be disposed of.
The agreement was signed with an unnamed gold and copper producer, following a demonstration of the GlassLock Process technology at its site in December 2019.
Under the terms of the deal, Dundee will receive a cash payment of $1.41 million for the one-year use of its technology at the client’s copper smelting operations.
The agreement also outlined the option to extend the contract for a further four consecutive years, each of which will require additional payments of $1.41 million per year.
David Lemieux, President and CEO of Dundee Sustainable Technologies, said the agreement marks a major milestone after years of research and development.
“This new chapter is full of opportunities, particularly for gold arsenopyrite assets where our technology can make a difference.
“We will continue working with our client for the application of the technology at their copper smelter, while continuing to develop these arsenopyrite bearing gold projects where the lower costs of GlassLock can generate additional value for our customers and shareholders,” he said.
Dundee will retain the right to apply its GlassLock Process technology at other precious and base metal projects. The company is currently developing several of these opportunities through testing or engineering studies with other strategic partners.
Dundee Sustainable Technologies (DST) is holding steady, with shares currently trading for $0.25 at 2:33pm EST.
