Regenx Tech (OTCQB:RGXTF) (TSX.V:RGX)is one of the companies which could have a major long-term impact on the mining industry due to the very nature of the product that it offers. The company came up with an innovative clean technology solution that would allow for the recovery of precious metals in an environmentally friendly way.
Recently, the company sent out a missive with regards to the visit of its company’s President Don Wetherbee from Greenville Tennessee. During that visit, Wetherbee had been involved in monitoring the sort of progress that was being made in the construction of Module One. Following his visit, he claimed that everyone associated with the project had become more and more positive with regard to the progress that was being made on a day-to-day basis.
At the time, it was noted that Regenx was still on course to start the commissioning on April 1, 2023. Everyone working on the project were trying to ensure that the plumbing, electricity, and mechanical systems at the site were installed and functioning as per the specifications that had been provided beforehand.
While this was a major development, it ought to be noted that the company’s precious metals extraction process had also been deployed widely. At this point, it is only being used for the extraction of palladium and platinum. In 2021 alone 2,110,000 ounces of palladium had been used for producing catalytic converters in North America and hence, it is clear to see that a demand is certainly there.