BacTech Environmental Corp. (BAC:CSE;BCCEF:OTCQB;OBT1:FRA) came out with the big news on Friday after the market closed.
The news was that it has filed an expanded provisional patent application for its application of the bioleaching process for millions of tons of tailings to create zero waste using green technology and power.
The company's newest intellectual property (IP) retains the bioleaching approach to recovering metal values and producing multiple commodities from low-grade mine wastes but now introduces novel innovations to selectively convert soluble iron into iron metal for green steel making and produce ammonium sulfate fertilizer from the sulfur which is converted to acid during bioleaching.
We were a little early recommending the stock on February 11 at $0.06 as it went on to drop a little more before stabilizing at a slightly lower level ahead of Friday's break higher, but it is often better in this game to be early than late, especially as, in this case, the release of the news after the market closed means that investors will only be able to start reacting to it on Monday, and it is reasonable to presume, given how positive this news is, that the stock will advance further once trading resumes this week.
On the latest 6-month log chart, we can see that the price already broke out of the downtrend on Friday on good volume, a development that marks the start of a new uptrend, and we can also see that the improving Accumulation line and momentum (MACD) telegraphed this development ahead of time. Given how significant this news is, it is thought likely that the stock will initially run at least to the resistance level in the 9 to 10 cent area, and with respect to the longer-term outlook, you are referred back to the longer-term charts shown in the original February article.
It is hard to overstate the significance of the technology BacTech has developed for the mining industry and the environment worldwide. There are hundreds of millions or even thousands of millions of tons of these tailings lying around all over the world, which are a nuisance and a pollutant — just as an example, there are estimated to be 80 – 100 million tons of them in Sudbury basin Ontario alone.
BacTech's technology has the capacity to convert all of this waste into profitable assets and clean up the mess at the same time. This is why, given that BacTech has patented its processes and technology, its stock has such huge potential upside.
We, therefore, stay long, and BacTech Environmental stock is rated as a Strong Buy for all timeframes.
BacTech Environmental's website.
BacTech Environmental Corp. (BAC:CSE;BCCEF:OTCQB;OBT1:FRA) closed at CA$0.07, $0.053 on April 5, 2024.
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Important Disclosures:
- BacTech Environmental Corp. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000. In addition, BacTech Environmental Corp. has a consulting relationship with an affiliate of Streetwise Reports, and pays a monthly consulting fee between US$8,000 and US$20,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of BacTech Environmental Corp.
- Clive Maund: I determined which companies would be included in this article based on my research and understanding of the sector.
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Clivemaund.com Disclosures
The above represents the opinion and analysis of Mr. Maund, based on data available to him, at the time of writing. Mr. Maund's opinions are his own, and are not a recommendation or an offer to buy or sell securities. As trading and investing in any financial markets may involve serious risk of loss, Mr. Maund recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction and do your own due diligence and research when making any kind of a transaction with financial ramifications. Although a qualified and experienced stock market analyst, Clive Maund is not a Registered Securities Advisor. Therefore Mr. Maund's opinions on the market and stocks cannot be only be construed as a recommendation or solicitation to buy and sell securities.
