Temas Resources Acquires 50% of Green Mineral Process Developer ORF Technologies Inc.
Temas Resources Acquires 50% of Green Mineral Process
Developer ORF Technologies Inc.
• ORF Technologies has a portfolio of patents related to mineral extraction,
targeting specialty, strategic and rare earth metals producers.
• TiO2 technology developed by ORF proved to be 144.8% more cost-efficient
than conventional processes. Company anticipates comparable cost
efficiencies in the production of nickel, iron, gold, rare earth metals and
many more. The ORF technology suite is capable of supporting Temas’
internal La Blache projects as well as unrelated third-party mining projects.
• More environmentally friendly and offers a significant reduction in carbon
footprint when compared to conventional processing methods.
• ORF provides a suite of technologies which will complement and work
alongside the licensing agreement with Metaleach™.
VANCOUVER, British Columbia, April 13, 2021 ― Temas Resources Corp. (CSE: TMAS,
OTCQB: TMASF, FSE: 26P ) (the “Company” or “Temas Resources”), is pleased to
announce that it has finalized its 50% acquisition of ORF Technologies Inc (“ORF ”).
ORF has developed several patented, innovative leaching and solvent extraction pro-
cesses. With the ORF transaction, in conjunction with MetaLeach™, Temas believes
that these combined technologies will make a difference in helping to alleviate the
significant environmental impact that results from present-day mineral processing.
Pursuant to the Acquisition, Temas acquired 50% of the outstanding shares of ORF
in exchange for a cash payment of $600,000. On closing, the parties entered into a
shareholders’ agreement governing their rights and obligations going forward, includ-
ing development and dividend policies, and pre-emptive rights to existing sharehold-
ers to acquire positions of other existing shareholders . With the 50% acquisition of
ORF, Temas’ objectives are to achieve and provide the lowest cost processing alter-
native for specialty, strategic and rare earth metals producers.
Transaction Highlights:
• COST-EFFICIENCIES: TiO2 technology developed by ORF proved to be
144.8% more cost-efficient than conventional processes. Company antici-
pates comparable cost efficiencies in the production of nickel, iron, gold, rare
earth metals and many more.
• MORE ENVIRONMENTALLY FRIENDLY: The Recovery Technologies offer a
significant reduction in carbon footprint when compared to conventional pro-
cessing methods.
• COMPLEMENTARY ACQUISITIONS: ORF provides a suite of technologies
which will complement and work alongside the licensing agreement with Met-
aleach™. The ORF technology suite is also capable of supporting Temas Re-
sources’ internal La Blache projects as well as unrelated third-party mining
projects.
“We believe t his suite of proprietary technologies are immediately employable and
will be integral to the economic delivery of products well into the future. There is a
company making opportunity especially when considering the high importance and
future demand of the ‘Energy and Battery’ metals needs. The objective is to
achieve this from the commercialisation of the proprietary & patented hydrometal-
lurgical metals processing technologies (“Leaching Technologies”).”
“We are confident that t he ORF IP library of technologies will position Temas as a
clear leader in providing the specialty, strategic and rare earth metals industries with
a lower cost, environmentally friendly mineral processing solution for their producing
mines,” said Michael Dehn, CEO of Temas Resources.
He added that, “Temas is in active discussions with strategic partners that are pur-
suing a greener and more cost -effective means of processing their mining assets .
With our nickel leaching options from MetaLeach™ and ORF, as well as taking into
consideration the current market demand for nickel, we expect to hav e a busy year
in just this one commodity, not including all the other opportunities we are seeing in
the market.”
The Company structured the acquisition to ensure the existing principals responsible
for the development of the technologies at ORF would hav e a significant vested in -
terest in the ongoing commercial success of the technologies. ORF was established
as a holding company for the intellectual property developed by Process Research
Ortech (“PRO”), a company established in 1990 during the privatization of the Ontario
Re-search Foundation’s (“ONT”) metallurgical testing facilities. ONT was created as
an independent corporation by a provincial Act in 1928.
Table 1 Comparison of ORF Laterite Process with Commercial Processes Part 1
Pyrometallurgical
process
Caron process HPAL process ORF Laterite process
Ores that
can be
treated
Med-high Ni (1.8-
2.5 %), low-med Fe
(10-20 %) ores
Low Ni (1.2-1.5 %),
high iron (>40 %)
ores
Low Ni (1.2-1.5 %),
high iron (>40 %)
ores
Both low Fe/MgO and
high Fe/MgO ores
Ni recovery ~ 95 % ~ 75 % ~ 95% > 90 %
Co recovery None < 50% ~ 95% > 90 %
Fe recovery No No No Yes
Mg recov-
ery
No No No Yes
Capital cost High Medium High Can be lower
Operating
cost
High Medium High Medium
Table 1 Comparison of ORF Laterite Process with Commercial Processes Part 2
Pyrometallurgical
process
Caron process HPAL process ORF Laterite process
Energy
requirement
High (due to wa-
ter removal from
ore and high tem-
perature pro-
cessing)
High (due to water re-
moval from ore and high
temperature processing)
Low (no water
removal from
ore and low tem-
perature pro-
cess)
Medium (no water re-
moval from ore and
low temperature pro-
cess)
Reagents Not recycled Not recycled Not recycled Recycled
Residue
amount
High volume High volume High volume Lower volume
Environ-
mental
Slag disposal Residue disposal contain-
ing ammonia
High volume res-
idue disposal
Potentially inert resi-
due
Sulfur price No effect No effect Very dependent No effect
Fuel price High effect Medium effect Lower effect Medium effect
By-product
credit
None None None Fe2O3, MgO and
(NH4)2SO4 credit
Figure 1 ORF Laterite Process Flowsheet
The Leaching Technologies have the potential to revolutioni ze the extraction
processes and methods for many base metal deposits. The reduction in capital costs,
operating costs, as well as improvement in recoveries and purity can potentially be
possible with leaching technologies. These technologies are capable of producing high
value metal product on-site and greatly enhance the mine gate economics compared
to conventional concentrators. In addition, in many cases , the technologies will
enable the treatment of base metals deposits which hitherto have not been possible
to treat. The technologies are especially suitable for high-acid-consuming carbonate
(oxide) hosted ores.
The merits of the Leaching Technologies and commercial adoption success are based
on the potential for major operating and capital cost savings ( expected to be a
minimum 30-40% vs current technologies). This would be suitable and amenable for
mines using the Leaching Technologies as the principal mineral processing method,
to produce base metals or high value product, at the mine site.
In addition, the se Leaching Technologies offer other significant operat ional and
environmental benefits . This includes more environmentally friendly leaching
technologies and a reduction in carbon footprint when compared to conventional
processing methods. The base metals o f most commercial importance are essential
for supplying the raw materials for the electric vehicle revolution, energy generation
and storage technologies allied with ESG (Environmental and Social Governance)
policies.
La Blache and DAB projects tie in to ORF’s TiO2 technology - More Cost Ef-
fective
The ORF TiO2 technology is estimated to be 59.2% lower on a production cost basis
compared to The Chemours Company, the world’s largest TiO 2 producer with the
leading low-cost process. The result is a process 144.8% more cost-efficient.
A 2017 study published by the University of Minnesota’s Natural Resources Research
Institute ("NRRI”) on the Patents’ TiO2 recovery process estimated the adjusted pro-
duction cost per ton of TiO2 was $713 after a credit was applied for the sale of recov-
ered iron oxide, representing a production cost basis 69.7% lower than the industry
average estimated production cost of $2,352 per ton, and 59.2% lower than The
Chemours Company’s leading low-cost process at $1,746 per ton.
The entire market size for TiO 2 is $15.76 billion and is expected to witness a com-
pound annual growth rate of 8.7% until 2025, according to Grand View Research,
Inc.
The Patents’ process is less energy -intensive than the industry standard and can
create high quality TiO2 from low grade materials, which contain contaminants other
industry competitors must discard due to the prohibitive cost of extracting the full
value utilizing current processes.
About Temas Resources
Temas Resources Corp. ("Temas Resources ") (CSE: TMAS) (OTCQB: TMASF)
(FSE:26P) is focused on the advancement of mineral independence and the processes
in which minerals are extracted. The Company’s goal is to reduce the environmental
impact and carbon footprint of metal extraction by focusing on the uses of processing
and leaching technologies.
Temas Resources flagship properties are located in the stable, mining -friendly
jurisdiction of Quebec (Canada) bordering Vermont, Maine, and New York State
(U.S.) in an area known as the Grenville Geological Province. The Grenville Geological
Province is home to Lac Tio, the largest solid ilmenite deposit in the world.
As a mineral exploration company focused on the acquisition, exploration and
development of Iron, Titanium, and Vanadium properties in a socially responsible
manner, Temas Resources has focused its efforts on advancing two major projects in
the Grenville Geological Province area. The first, the DAB Property, is an option for
100% interest consisting of 128 contiguous mineral claims which cover s 6,813.72
hectares (68.14 km²) within the Gre nville Geological Province. The flagship, the La
Blache Property, is 100% ownership of 48 semi -contiguous mineral claims which
cover 2,653.25 hectares (26.53 km²) within the Grenville Geological Province. All
public filings for the Company can be found on the SEDAR website www.sedar.com.
For more information about the Company, please visit www.temasresources.com.
About ORF Technologies Inc.
ORF is a technology holding company for the intellectual property developed by the
principals and staff of Process Research Ortech (“PRO”). PRO was establish in 1990
during the privatization of the Ontario Research Foundation’s ( “ONT”) metallurgical
testing facilities. ONT was created as an independent corporation by a provincial Act
in 1928; laboratory facilities were provided at the outset. Although initially academic
in outlook, ONT gradually shifted its focus and began to promote industrial
development, especially of small companies, through scientific and technological
innovations. ORF has developed expertise in ceramics, fuel blends, textile and
knitting technology, asbestos analytical methodology, hydro metallurgy,
microelectronics, SOLAR ENERGY and POLLUTION research. Its facilities were
expanded substantially in 1969.
ONT was also responsible for drawing the attention of government and industry to
research opportunities that promise social and economic benefits. ORF plans to
continue with these values and opportunities with technology that will provide higher
recoveries, higher purity, a lower carbon footprint and an overall environmentally
friendly portfolio for the natural resources, water treatment and waste management
industries.
About MetaLeach™
MetaLeach™ was set up to own the proprietary and novel leaching technologies
AmmLeach®, NickeLeach®, HyperLeach® and MoReLeach ® which have been
developed over more than 10 years on global research & development. These
technologies are all prote cted by an extensive and rigorous intellectual property
strategy, including a comprehensive suite of patent applications in targeted countries
around the world. For more information about MetaLeach, please visit
www.metaleach.com.
Qualified Person
Rory Kutluoglu, B.Sc, P.Geo, is the Qualified Person as defined by NI 43-101 who has
reviewed and approved the technical information contained within this press release.
On behalf of the Board of Directors of Temas Resources Corp.,
“Kyler Hardy”
Director
For further information or investor relations inquiries, please contact us:
Nick Spencer
Investor Relations
www.temasresources.com
or
Dave Burwell
Vice President
The Howard Group Inc.
Email: [email protected]
Tel: 403-410-7907
Toll Free: 1-888-221-0915
For inquiries on using the Temas family of technologies please contact:
Michael Dehn
President and CEO
Tel: 647-477-2382
Forward Looking Statements
This news release includes certain “Forward ‐Looking Statements” within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and “forward‐looking
information” under applicable Canadian securities laws. When used in this news release, the
words “anticipate”, “believe”, “estimate”, “expect”, “target”, “plan”, “forecast”, “may”,
“would”, “could”, “schedule” and similar words or expressions, identify forward ‐looking
statements or information.
Forward‐looking statements and forward ‐looking information relating to any future mineral
production, liquidity, enhanced value and capital markets profile of Temas Resources, future
growth potential for Temas Resources and its business, and future exploration plans are based
on management’s reasonable assumptions, estimates, expectations, analyses and opinions,
which are based on management’s experience and perception of trends, current conditions
and expected developments, and other factors that management believes are relevant and
reasonable in the circumstances, but which may prove to be incorrect. Assumptions have
been made regarding, among other things, the price of iron, titanium, vanadium and other
metals; no escalation in the severity of the COVID -19 pandemic; costs of exploration and
development; the estimated costs of development of exploration projects; Temas Resources’
ability to operate in a safe and effective manner and its ability to obtain financing on
reasonable terms.
These statements reflect Temas Resources’ respective current views with respect to future
events and are necessarily based upon a number of other assumptions and estimates that,
while considered reasonable by management, are inherently subject to significant business,
economic, competitive, political and social uncertainties and contingencies. Many factors, both
known and unknown, could cause actual results, performance or achievements to be
materially different from the results, performance or achievements that are or may be