COMPS has developed syngas to liquids demonstration and pilot plants in Australia and China.
The basis of the memorandum of understanding is for the parties to work together to:
• Market Gas-To-Liquids (“GTL”) production processes using the Fischer Tropsch (“FT”) technology developed by COMPS to suitable joint venture partners world wide;
• Secure and develop in house natural gas, coal, biomass and municipal waste assets using the COMPS technology;
• Provide access to skills and personnel required to complete projects; and
• Complete an exclusive definitive agreement for future projects with Wits by November 14th 2008
“In many countries there is governmental concern over self sustainability of liquid fuels. As a result, there is increasing worldwide interest in technology that will produce fuels that are more environmentally friendly and reduces the dependence on oil. Above all, and most immediately, we face the end of the cheap fossil fuel era and the memorandum of understanding with Wits presents G4G with a unique opportunity to produce ultra-clean liquid transportation fuel like diesel, jet fuel and gasoline.” said Basil Botha, President and CEO of G4G Resources Ltd. “We also welcome the opportunity to work with a team of scientists who are among the most accomplished in the world in this field. This joint venture with Wits is a strategic relationship for G4G and adds a great deal of value to shareholders.”
The COMPS technology is a new generation of the Fischer Tropsch technology. It can be applied to Gas-To-Liquid (GTL), Coal-To-Liquid (CTL) as well as Biomass-To-Liquid (BTL), which includes municipal waste. The technology offers reduced CO2 emissions, reduced capital and operating costs, as well as simplicity of operation and ease of scalability and is sufficiently environmentally friendly to earn carbon credits. Another advantage of this technology over conventional technologies is the modularity of the design. Smaller production units can be put up in a much shorter period of time with just a fraction of the total investment costs to start generating return on the investment once the first module is operational. The fuels produced are cleaner burning as they contain no sulphur, no particulate matter, no aromatics and no nitrous compounds.
Conference Call Details
Date: Thursday, August 14, 2008
Time: 11 a.m. (Eastern Time)
Dial-In Numbers: (416) 641-2140 or toll-free 1 (800) 952-4972
G4G Resources Ltd. will also host a live audio webcast. The direct link to the webcast is http://events.onlinebroadcasting.com/
A replay of the conference call will be available until 11:59 p.m. (Eastern Time) on Thursday, August 28, 2008, by dialing (416) 695-5800 or toll-free 1 (800) 408-3053 using passcode 3268734.
About G4G Resources
G4G Resources is a Canadian-based mineral exploration and development company focused on iron ore and iron production projects. On March 31, 2008, the Company announced the signing of an agreement with TCL Sweden Ltd., a wholly owned subsidiary of Teck Cominco Limited, for G4G to option eight mineral properties in the Norrbotten iron ore mining district of Sweden. On July 7, 2008, the Company announced a joint venture with Iron Mineral Beneficiation Services (Pty) Ltd (IMBS) to establish joint ventures to utilize FinesmeltTM technology, a process which converts iron ore fines into high quality iron units. On July 14, 2008, the company announced the formation of a strategic partnership with Crusader do Brasil Mineracao Ltda., a wholly owned subsidiary of Crusader Holdings NL, under which the companies will work together to acquire iron ore fines in Brazil as feedstock for the production of saleable iron units. Additionally, G4G is evaluating a number of other strategic growth opportunities to create and enhance shareholder value.
COMPS is a research and consulting group within the University of the Witwatersrand and was founded in order to promote links between industry and the process synthesis research being conducted at the University. COMPS has established a strong international reputation for creative work and has achieved outstanding academic excellence as a result of their joint work in process synthesis.
History of the Fischer Tropsch Process
The Fischer Tropsch technology (“FT”) was originally discovered in the 1920’s by German scientists and by 1938 Germany was running nine industrial plants which produced fuel from coal. In the 1950s, the South African Coal Oil and Gas Corporation (SASOL) commissioned an FT plant based on coal in Sasolburg, South Africa. Research on FT has continued ever since at SASOL. Due to the oil crisis of the mid 1970s SASOL constructed two much larger coal-based FT plants which came on-line in 1980 and 1982 respectively. These two plants produce approximately 160,000 bbl/day of fuel which supplies 28% of South Africa’s fuel requirements. Further commercial ventures, which have used natural gas as a feedstock, include Shell’s plant in Malaysia and PetroSA plant in South Africa. In the last few years the interest for FT has grown significantly due to the increase in as well as the high demand for energy. Recent commercial ventures include the development of Gas-To-Liquids (“GTL”) plant, Oryx GTL, in a joint venture of SASOL with Qatar Petroleum at Ras Laffan in Qatar.
This document may contain or refer to forward-looking information based on current expectations, including, but not limited to timing of mineral resource estimates, future exploration or project development programs and the impact on the Company of these events. Forward-looking information is subject to significant risks and uncertainties, as actual results may differ materially from forecasted results. Forward-looking information is provided as of the date hereof and we assume no responsibility to update or revise them to reflect new events or circumstances. For a detailed list of risks and uncertainties, as it relates to G4G Resources Ltd., please refer to the Company’s 2006 Annual Report filed with SEDAR on April 23, 2008.
For more information contact:
Basil Botha, President and CEO
G4G Resources Ltd.
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G4G Resources Ltd. (TSX-V: GXG) is a Canadian-based resource company focused on developing a growing portfolio of projects from iron ore exploration to the production of value-added commodities.