Sixth Wave Innovations (SIXW.C) has reported impressive results following the completion of its Phase 1 “Green Alternatives for Gold Leaching and Recovery” initiative (“Green Initiative”).
“Phase 1 test results indicate that we can successfully leverage our technology with the benefits of MPS” GlyCat™ Process. The CTRI project is an important initiative for Sixth Wave and our IXOS® high performance gold extraction products. It is clear that the mining industry is aggressively seeking new and innovative approaches to leach and recover gold as a replacement, in whole or in part, for conventional processes. We believe gold mining companies will have significant interest in learning more about our results and how the technology may benefit their operations,” said Sherman McGill, Executive Vice President for Sixth Wave.
Sixth Wave’s Green Initiative was conducted in collaboration with the Centre Technologique des Résidus Industriels (CTRI) and an Australian company, Mining and Process Solutions (MPS). Together, the companies have worked closely for the past 7 months to test the efficacy of Sixth Wave’s IXOS® molecularly imprinted polymer for gold extraction in conjunction with the MPS’ GlyCat™ process. What the hell are either of those? For starters, let’s talk about the process of gold extraction. Typically, cyanide leaching is used to extract gold from low-grade ore, however, MPS has developed a process to extract gold using Glycine, a simple and cheap amino acid. Utilizing Glycine, gold is dissolved into a metal-impregnated solution. While cyanide is detrimental to the environment, Glycine is an environmentally safe and stable reagent that is biodegradable and easily metabolized in most living organisms.
With this in mind, MPS holds exclusive global rights to the Glycine Leaching process and is developing a number of leaching processes with its GlyCat™ process currently available to the market. That’s a lot of processes. On the other hand, Sixth Wave’s IXOS® is an advanced extraction media developed using Molecularly Imprinted Polymers (MIPs). MIPs contain specifically engineered cavities designed to target and capture molecules of interest. Furthermore, IXOS® media have the ability to attract target molecules to the exclusion of other undesirable elements. With regards to gold applications, the IXOS® platform is capable of selectively targeting gold while rejecting contaminants like copper, mercury, and other non-target elements.
“We are very pleased to be in collaboration with Sixth Wave…Our respective technological approaches can bring tremendous value to prospective customers by significantly cutting cyanide usage along with the associated costs and environmental impact,” states Mr. Ivor Bryan, Managing Director of MPS.
Through the completion of Sixth Waves Phase 1 testing, IXOS® has demonstrated the ability to extract gold from the pregnant leach solution generated by MPS’ GlyCat™ technology. Even better, IXOS® has proven superior to traditional activated carbon technology by demonstrating a higher selectivity for gold relative to other materials, resulting in higher gold capture than activated carbon. In combination with GlyCat™, this process achieved outstanding gold recovery and the test results demonstrated a much lower reagent cost.
Having successfully completed Phase 1, Sixth Wave now intends to complete Phase 2 testing, which will focus on meeting Canadian ecotoxicity guidelines. Upon successful completion of Phase 2, Phase 3 testing will involve the design of a process circuit that validates the performance of both IXOS® and GlyCat™. Overall, the project goal is to develop an environmentally friendly flow sheet for the gold mining industry.
Sixth Wave’s share price opened at $0.33, up from a previous close of $0.315. The Company’s shares are up 7.94% and are were trading at $0.34 as of 10:43 AM ET.
Full Disclosure: Sixth Wave is a marketing client of Equity Guru.