31st Mar 2016 14:58
LONDON (Alliance News) - Alexander Mining PLC shares soared on Thursday after it said its subsidiary has been awarded a 20-year patent in China for a Method for Ammoniacal Leaching, which forms part of the company's Ammleach technology portfolio.
Alexander shares were up 92% to 0.182 pence per share on Thursday afternoon.
It is the first patent to be awarded to the company in China and forms part of its Ammleach technologies, which offer a two-stage leaching process designed for the mining industry.
The patent encompasses methods for leaching one or more target metals from an ore, covering the method of curing ore to be leached through an application of an aqueous solution of a curing agent, which produces a cured ore, and the method used to leach the cured ore at atmospheric pressure through the application of an ammonium carbonate solution containing free ammonia, producing a pregnant leach solution.
The patent also covers the method used to pass that pregnant leach solution to a means of metal recovery, it said.
Importantly, the patent became effective in July 2008, meaning the patent will expire in July 2028.
"We are most pleased with the grant of our first ever patent in China for a Method for Ammoniacal Leaching. The patent is the overarching AmmLeach patent in our intellectual property portfolio and underpins all applications of the AmmLeach technology," said Martin Rosser, chief executive of the company.
By Joshua Warner; [email protected]; @JoshAlliance
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