Chrysos Corporation Ltd (ASX:C79) Ltd earlier this week discussed its expansion plans and recent partnership developments during an interview with Proactive.
- Chrysos Corporation was founded to commercialise PhotonAssay™, a gold analysis technology.
- PhotonAssay™ offers a faster, more accurate, and environmentally friendly alternative to fire assay.
- The company operates on a leased model with a take-or-pay agreement, offering clients cost savings.
- A new master services agreement has been signed with Newmont, starting with the Ahafo Mine in Ghana.
- Chrysos technology is already in use with Barrick, Gold Fields, and Northern Star.
- Dirk Treasure stated the goal is to displace fire assay globally with PhotonAssay™.
Commercialising PhotonAssay™
Chrysos was established to commercialise PhotonAssay™, a gold analysis method it claims is superior to the fire assay techniques still widely used in the industry. It highlighted that PhotonAssay™ is faster, more accurate, and environmentally friendlier than traditional methods.
Dirk Treasure, managing director and CEO, told investors that PhotonAssay™ is “practically better in every way than the industry currently analyses gold.” He added that Chrysos provides the service on a leased, take-or-pay basis, allowing clients to save money while accessing improved technology.
Newmont agreement
The company announced a master services agreement with Newmont Corporation, one of the world’s largest gold producers. The initial deployment will occur at the Ahafo mine in Ghana. Chrysos said this agreement adds to its list of major clients, which includes Barrick, Gold Fields, and Northern Star.
Treasure said the company aims to replace fire assay with PhotonAssay™ as the standard across global mining operations and laboratories. “We’re going to have PhotonAssay™ used by all of the miners around the world,” he stated.
Chrysos told investors that displacing fire assay remains the company's primary focus.