BioteQ Environmental Technologies Inc. Provides an Update on Plant Operations and Engineering Activities for the Third Quarter and Nine Months of 2012; Reaffirms Earnings Guidance for the Full Year 2012
For the nine months, total production was over 2 million pounds of metal and 8.3 million cubic meters of water. The Bisbee, Arizona operation produced 369,000 pounds of copper and treated 722,000 cubic meters of water. The Dexing operation produced approximately 1.65 million pounds of copper and treated 7.0 million cubic meters of water.
In March 2012, the company's management provided guidance on expected financial results for 2012 which indicated that the company expected to grow revenues by at least 30% over 2011 to approximately $10 million, and to reduce cash use by at least 40% to less than $1.5 million. The company remains on track with respect to the 2012 operations and financial guidance.