After the huge rally in Wednesday�s trading session shares of Raptor Technology Inc. (OTC: RAPT) are marginally lower in today�s trading. On Wednesday Raptor Technology shares soared more than 180% after the company announced the signing of a long-term contract for mineral recovery.
Raptor Technology said that Raptor Fabrication and Equipment Inc., which the company is currently in the process of acquiring, signed a long-term contract with Washoe Custom Processing LLC, which will enable Raptor to process more than 2,000 tons of ore per year.
Raptor said that employing its patent pending mineral recovery method, the company expects to process 60%-70% of the precious metals that are in the hard rock ore deposits� from the Washoe mine tailings.
Tom Gleason, president of Raptor, said that the company�s contract with Washoe will enable it to use its technology platform to make recovery of rare earth minerals and precious metals an economically viable operation.
On Wednesday, Raptor also provided an update on its proprietary mineral recovery process. The company said that it processed more than 20 tons of ore from its Washoe Custom Processing site, which has an estimated dollar value of $250,000 per ton. The company said that the ore represents a range of rare earth minerals.
Commenting on the progress, Gleason said that the company believes that significant value exists for those who are now establishing major positions in gold, platinum, palladium, rhodium, rare earth oxides and similar high-value metals.
Raptor Technology is a supplier of technology that offers eco-friendly and green solutions to global issues.
- Need fast service and cheap rates from a broker? Click here to see my favorite place to trade RAPT
- Want more? Check out the message board buzz for RAPT
- See which newsletters are recommending this stock pick
- Get breakingnews alerts on this stock:� http://thestockmarketwatch.com/