Mineworx Technologies: Environmentally Friendly Processing and Recovering Platinum and Palladium from Diesel Catalytic Converters, Pilot Plant Relocated to Johnson City, Tennessee, with JV Partner, Davis Recycling; Greg Pendura, President, CEO and Chairma

By Dr. Allen Alper, PhD Economic Geology and Petrology, Columbia University, NYC, USA
on 8/15/2022
We spoke with Greg Pendura, who is President, CEO and Chairman of Mineworx Technologies Ltd. (TSXV: MWX, OTCQB: MWXRF, FSE: YRS, WKN: A2DSW3), a Company that created a new environmentally friendly, proprietary processing technology, unlocking the massive opportunity, in the extraction of palladium and platinum from diesel catalytic converters. For the first part of 2022 Mineworx has been busy completing optimization testing of their pilot plant set up in Tennessee with their joint venture partner, Davis Recycling. The Company is now moving forward with the final design of their 10 ton per day commercial production facility, which uses a modular concept. They are starting with Module 1, that will deliver approximately two and a half tons per day capacity.

Dr. Allen Alper: This is Dr. Allen Alper, Editor and Chief of Metals News, talking with Greg Pendura, who is President, CEO and Chairman of Mineworx Technologies. Greg, could you give us an update of your Company, an overview and tell our readers/investors what's been going on in 2022 and what the plans are going forward?

Greg Pendura: For the first part of 2022, we've been working with our pilot plant set up in Tennessee. For your readers who aren’t that familiar with Mineworx, we're involved in the processing and recovering of platinum and palladium from end-of-life diesel catalytic converters. We initially built and operated the pilot plant in Vancouver, Canada. It has since been relocated to Johnson City, Tennessee, where our joint venture partner, Davis Recycling is.

We have been running a series of tests in the plant and have completed our optimization testing protocols. Now we're moving forward, with the final design aspects of our commercial production unit, which is going to be a modular design. Our original plan was to have a 10 ton per day facility. It was always intended to accomplish this through a modular concept, and we've just confirmed that we can do this.

Our Module 1 will have approximately two and a half tons per day of thru-put capacity. We're just entering the procurement stage of the construction process and hope to see module one, up and running prior to the end of the year.

Dr. Allen Alper: Well, that sounds great. Could you tell our readers/investors how you will proceed in commercialization and marketing after that’s running?

Greg Pendura: Sure. That first module is going to be the commencement of commercial production. Once we basically check off the boxes for the successful operation of Module 1, we will simply add on additional modules to the System. In in our mind, Module 1 will show that we've crossed the goal line and confirmed our eco-friendly commercial technology. Modules 2 and beyond will basically be just a duplication and an add on to our existing technology. We're excited about this, obviously, as its going to tell the world that we've successfully moved our project from an R&D perspective to commercial economic viability. The beginnings of commercial production will get us into the spotlight in the marketplace and the news media as well.

There is no commercially viable way of recovering platinum and palladium from end-of-life diesel catalytic converters, except through smelters and smelters are no longer moving forward, with diesel catalytic converters. They’re greatly restricting what they will accept, simply because of the processing difficulties, which they encounter, with diesel catalytic converters. We will be basically the only commercially viable business, which will be able to, not only extract the platinum and the palladium, but do it in an environmentally friendly manner. We're heading down the clean tech path, of precious metal recovery.

Dr. Allen Alper: Well, that sounds excellent. Could you tell our readers/investors what advantages your process has environmentally, in the way you will be recovering?

Greg Pendura: It's a green solution. The chemicals that we use, basically will be inert, at the end of the cycle. There will be no air or wastewater pollutants, from our system. You can think of it as a closed looped system. Due to that and how our process works, it will fall under the clean tech umbrella. In this global market, due to the environmental and regulatory issues today, any ability to recycle a material, which is in great demand and do it in an environmentally friendly manner, is going to be a very well received.

Dr. Allen Alper: That sounds excellent. Could you tell our readers/investors a little bit about the process you’re using?

Greg Pendura: We have a proprietary system both in the chemistry and process sides, which we are not going to patent for business reasons. Our JV partner, Davis Recycling, has the capability to crush, grind and separate the diesel catalytic converters. Up until now, they've been sending the finished material, the honeycomb fine powder material, to smelters themselves, for the last 20 years. But this is quickly fading out, as an alternative, and hence what we are doing will be the only commercially viable way of processing these materials and recovering the precious metals from them.

Dr. Allen Alper: That sounds excellent! Could you tell our readers/investors, a little about yourself, your Team and your Board?

Greg Pendura: I've been involved in the public markets for over 30 years, and I've been the founder of a couple of technology companies that we started from the ground floor up. One has become a very successful business, on a global scale, and it derived from a urethane chemistry technology. Our second one, hopefully will become as successful as that one and extend into the global markets.

We have a very good Team. Our R&D and technical team have achieved tremendous results in a short period of time. Our Management Team and Board Members have strategically paved the path from R&D to commercialization. Being well versed in the business environment, has allowed us to avoid many strategical mistakes that many startups encounter. We are in the final stages of moving into commercialization and once we start the process, I believe we have the internal manpower, to be able to advance our Company, quickly, into a growth phase. It will result in a significant share price appreciation and obviously be very beneficial to our shareholders.

Dr. Allen Alper: That sounds great. Greg, could you just say a few words about your share and capital structure?

Greg Pendura: We have about 335 million shares outstanding. A significant amount of those shares are owned by insiders and associates, probably in the 35% to 40% range. So, in that regard, we're a closely held Company. We've had a very strong following, for multiple years, since I've been involved, and I've been involved over ten years now. It is encouraging to know that we have a large core group of investors that have supported the Company from the beginning.

To obtain the funding to get to the commercial stage of production, we're presently involved in a Rights Offering. We just started it recently, and it will be completed in mid-September. The proceeds from the rights offering will get us into initial commercial production. After that, we have strong interest to contribute to our future financial needs, from companies involved in both the royalty/streaming side, as well as traditional debt structuring.

Module 1, once it runs as per our expectations, will put us into immediate positive cash flow. Obviously, we'll have various options available to us, for funding future growth and expansion.

Dr. Allen Alper: That sounds excellent! It sounds like this year, going into next year, is going to be an excellent time for your shareholders and stakeholders.

Greg Pendura: We expect next year to be our game breaking year. Our share price has been impacted by present market conditions and the ongoing Rights Offering. As well as with the extended timeline from R&D to pilot plant, to commercial production. The timeline being further exasperated, due to covid, and associated supply chain factors. But we've overcome these setbacks, and we will be moving into commercial production very soon. As soon as that happens, 2023 is going to be a truly rewarding year for our investor base.

Dr. Allen Alper: That sounds excellent! Greg, could you highlight the primary reasons why our readers/investors should consider investing in Mineworx Technologies?

Greg Pendura: From an internal perspective the key factor is our very strong technology, for which there is no competition, in the marketplace right now. It fulfills the circular economy objective larger companies are looking for. An ecofriendly technology that utilizes recycling and recovering precious metals, in an environmentally friendly manner, is highly sought after. Our JV partner, who is the key in this business, Davis Recycling, has been in this business for over 20 years, on the catalytic converter side and preparing the end product for smelters. They have the whole supply chain management expertise in place, all the way from the sales network, to distribution, to inventory management. It's a very complicated business, and we are very fortunate to be involved with them, in this business.

The criteria, that an investor wants to look at, is what's the risk profile? I believe, as we ease into commercial production, there is less and less risk from an investment perspective, because all the hurdles have been overcome

From an external factor perspective, the market trends are favorable. There is no home for end-of-life diesel catalytic converters and supply is increasing. Palladium and platinum prices will be increasing, due to many factors, including the war with Ukraine and Russia. 85% of the annual supply of palladium goes into the production of catalytic converters, adding further pressure to an already very tight market. To have the ability to recycle these precious metals, is highly beneficial.

There's an increasing supply of diesel catalytic converters. Electric vehicles will not have an impact on us for decades, so the diesel catalytic converter supply side is rising. Being the only commercially viable business, to be able to benefit from that, is huge. You couple that with what I've already said, on the environmental and regulatory side, I believe presents our Company, as a sweetheart company, for investors to look at, simply because of the share price upside potential, as well, as what we're doing, on the clean tech side, for the environment. So, we are really pleased, with where we're going, and the opportunity it presents to investors.

Dr. Allen Alper: Well, those sound-like excellent reasons, for our readers/investors to consider investing in Mineworx Technologies. Greg, is there anything else you'd like to add?

Greg Pendura: I'm really excited to start sharing the results of our commercial production startup and the profitability, which we're expecting to be generating. As we relay that information, hopefully it's going to be consistent, with our expectations for recoverability and efficiencies of scale throughout our operation. I would suggest your readers follow our story and put us on their radar screen, because we’re going to be a Company that they’re going to continue hearing about.

Dr. Allen Alper: That sounds excellent! And we'll post it on Metals News, Facebook, Twitter and LinkedIn. I enjoyed talking with you again and I think your Company is a great opportunity for our readers/investors.

Greg Pendura: Great! Thank you, Allen. good talking with you.

https://www.mineworx.net/

Greg Pendura
President & CEO
780 800-0726
greg@mineworx.net