Vancouver's BioteQ Environmental Technologies Inc. (TSX:BQE) has signed an agreement to operate a water treatment plant in Mexico.
BioteQ is building the plant at the Lluvia de Oro gold property in northern Mexico, which is owned by NWM Mining Corp. (formerly Columbia Metals Corp. Ltd.). The company will receive a management fee based on the value of metals it recovers from the mine's contaminated water.
The management agreement will be in place until BioteQ recovers all the operating and development costs for its water treatment plan, its original capital investment, plus 30% and loans to NWM, including accrued interest.
BioteQ's share price range during the past week: between $1.35 and $1.80; 52-week high: $4.76; 52-week low: $1.