MONTREAL, QUEBEC--(Marketwire - Sept. 21, 2012) - Ressources Minières Pro-Or Inc. ("Pro-Or") (TSX VENTURE:POI) is pleased to announce that it has signed a new Agreement to respond to Fer-Min-Ore (PTY) Ltd business needs to use the Pro-Or technologies.
The goal and objective of the original Agreement with Fer-Min-Ore (PTY) Ltd ("FMO") of Sandton, South Africa is fulfilled. This new Agreement, a natural progression, gives our companies instruments to facilitate the establishment of JV to use the technology. The Agreement gives the parties the capability to patent future process improvements under joint names (Pro-Or and FMO). Each society will be able to use these improvements in their field of application where authorized. Pro-Or will continue to be involved in discussions related on terms of sub-licence transactions between FMO and 3rd parties with major interest.
Pro-Or and FMO will continue to develop, for their current business, technological improvements to maximize the PGM recovery and to reduce processing operation costs. Pro-Or will include these improvements in processing facilities, as they will become available. This new synergy will give an additional advantage over the current recovery techniques used by the industry and will benefit to the bottom line.
Mr. Alex Andersson, Fer- Min-Ore (PTY) Ltd CEO, states: "I have every faith that we can now move forward with this project in a manner that adds significant value to both our respective and shared strategies. I look forward to a fruitful working relationship."
Sylvain Boulanger, Pro-Or's CEO, states: "The signature of this Agreement with Fer- Min-Ore (PTY) Ltd, a very well established technology supplier and operator in the metals processing and recycling industries, is proof positive of the value of Pro-Or's technologies in the treatment of ores, residues and tailings as well as the recovery of metals and minerals from complex matrices that up to now have been either difficult and/or expensive to process. Pro-Or sees the signature of this Agreement as the continuation of our relation in a long and profitable relationship with Fer-Min-Ore where the two partners recognize the potential of these technologies."
About the Pro-Or and its technologies:
Founded in 1986, Pro-Or is involved in the development of technologies and owns two patents since 2000. They were developed in collaboration with the INRS (Institut National de la Recherche Scientifique). Pro-Or holds patents for two processes, one can increase the ratio of chromium-iron chromite and the other for the recovery of metals from the platinum group from ores and concentrates. Pro-Or holds patents in Canada, the United States, the Republic of South Africa and Australia. This environmentally friendly process requires a small amount of energy to recover PGM compared to current conventional smelting processes. The Company is also active in exploration, particularly on its James Bay properties: Menarik, site of a large deposit of chromite nickel, and Ewart property, a gold potential project.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.