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Mineworx touts shiny opportunity in e-waste and Transition Metals pitches start-ups in Proactive Investors forum

There's money to be made in electronic waste and in a company planting stakes in several mining start-ups

gold bars in Canada.
Scott McLean, the CEO of Transition Metals, at the Proactive Investor forum in New York City.

A pair of companies with connections to mining made their pitches to investors at a Proactive Investors forum Wednesday, with Mineworx Technologies Ltd (TSX-V:MWX) (OTCQB:MWXRF) and Transition Metals Corp (TSX-V:XTM) saying their companies are poised for strong growth in the months ahead.

Mineworx CEO Greg Pendura said electronic e-waste is a rising issue and his company offers the ability to recover metals such as copper and gold in an environmentally friendly manner.

"There's no solution to electronic waste," he said, adding the choices at this time to dispose of the material is either through a landfill or a smelter. "We know we can recover 90% to 95% of the metals in electronic e-waste."

Pendura said that his company is concentrating on this part of the business and using a chemical solution that is environmentally friendly compared with the current practice of other companies, which use cyanide to retrieve the copper, gold and other metals in electronic products.

BIG PICTURE: Mineworx Technologies aims to take on E-Waste and extract its value in an eco-friendly way

"All of our chemical solutions are FDA-approved food additives," he added. "We wanted to find a solution to cyanide."

Pendura said the company has a "zero environmental footprint" because the material left over after their factory processes e-waste is then used as a construction-related material. 

"If you are able to process IT junk ... you have a pretty good business model," he said, adding he is not sure when competitors will emerge but they face little if any rivals at this point.

TRANSITION METALS TOUTS PROJECTS

The business model for Transition Metals is different.

Co-founder and CEO Scott McLean said at the forum that the company maximizes shareholder exposure to discovery and capital gains by acquiring and advancing multiple projects simultaneously. 

The idea for Transition Metals is that with the fundamentals of mining stocks coming back, opening stakes in a variety of outfits should help boost investor value in the company, he said. Commodity-allocation diversity mitigates risk, he added.

"We have a lot of irons in the fire," McLean explained. 

Two of its companies are about to be listed on an exchange in coming weeks, he said.

The two that are going to have an IPO are SPC Metals, which is 28% owned, and Canadian Gold Miner, which is 40% owned.

"Our two subsidiaries are poised to go public," said McLean.

Transition Metals also has a lineup of projects it has optioned successfully and some more that are available for option.

One prospect optioned successfully is Janice Lake in Saskatchewan where the first drill program for copper has been completed to Forum Energy Metals. Another is Dundonald in Timmins, Ontario, which may contain deposits of nickel, copper, zinc, and the PGM metals. 

A key prospect that is available for option is Highland in Cape Breton, Nova Scotia. 

It is a potential gold deposit where a drill program is expected to begin in November after airborne geological surveys were completed in October.

Reporting by Rene Pastor, contactable on [email protected]  

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Price: 0.115 CAD

TSX-V:MWX
Market: TSX-V
Market Cap: $35.77 m
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Mineworx Technologies Ltd (TSXV:MWX, OTCQB:MWXRF) President Greg Pendura tells Proactive's Christine Corrado the electronic waste technology company is ramping up pre-production at its e-waste plant in Vancouver. Pendura says the new concentration plant allows for the economic extraction...

on 24/10/18

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