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MGX Minerals Inc. (XMG.CN)
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I would think that after all the drilling and samples they have collected from all of the properties, they would already know what's in them.
If they can get just enough interest, I could become a "break even-aire"! woo hoo!
I'm crying inside
If MGXMF worked as hard at making profit as they do putting out press releases, we would all be millionaires.
anyone here notice they completely change metal focus every year but never produce anything? lithium, silicon, gold, cobalt, space and nuclear metals....was really big on this company at one point but I honestly do think it is a scam now
Oh goodness..please avoid this…it’s a repeat of the Petrolithium scam run by Jared Lazerson 2 years ago
Ouch math error. Reposting.
One drill hit has 25 meters at .26% TREO [total rare earth oxides]. That's 5.2 kg per tonne. What would that be worth?
One drill hit has 25 meters at .26% TREO [total rare earth oxides]. That's 520kg per tonne. What would that be worth?
What is going on with this stocks?
On another board some folks are getting their MGXR shares. I haven't seen anything yet, anyone else?
Jonathan B. Stoner
News this morning that they have developed new methods to expand the capacity of zinc-air fuel cell battery is certainly welcomed, not sure if this is the best alternative to lithium/cobalt but it could still attract some interest. Love the Canadian plays and have seen a lot of solid reports from SmallCapCanada- they focus exclusively on Canadian companies and deliver solid insight and information on the companies positioning themselves for a breakout run- Hope everybody has a great week.
....Australia, MGX, and CLS/CLSH connection. CLS is a subsidiary of ( hlding company) Austalian Chilean Lithium Salars.
.….Adress: 25/108 St George Terrace,Perth,WA,6000 Austailia (08) 6557 8888. Now we know why MGX chose CLS, it is a back door into Australia. Note that Australia is the number one lithium producer.
....Australia 18.7 thousand mt Chile 14.1 thousand mt Argentina 5.5 thousand mt Chian 3.0 thousand mt. SO if/when MGX proves it tech works in Argentina or specifically in Austalia's two CLS evaporation ponds it will be an open door into Australia evaporation ponds, that is to say , a door into the number one producer. Also given the fact the tech allows a company to recycle water and produce Lithium, et all, it will relieve the ground water depletion on the desert water table as well as allow immidiate production. Of course the Nevada site in the USA is near ALB, Albermale's lithium mine and when they see two brine pool operations; one in the USA (Kibby Basin) and another in the CLS properties, both ALB and SQM will be very interested. So MGX seems to have opened up the CLS property to gain a foot hold into Australia and gain attention from SQM and ALB in Chile. Mgx thru BEA.V and thru a common board member with MGX and BEA.V (PROPS CHARLES) will also gain ALB attention in Nevada.
….Charles, the game is really "afoot" !! MGX chose these properties in Nevada and Chile very intelligently and will have far reaching effects for MGX in the future. All I can say is WOW !!!! The team behind MGX is playing it smart
More good news with the upcoming listing of MGXR. Hopefully this will bring the MGX stock price up, provide some revenue and get both Stock Prices up. What I'd really like to know, and if anyone has info please share, is if US owners of MGX stock purchased in the US prior to the required dates will receive MGXR stock as a dividend. I emailed MGX that question many months ago and never received an answer.
Former Chilean executives of large mining companies partner with Canadian firm to explore lithium
Posted on January 12, 2018
The company, which will be advised by the national Kura Minerals, will also seek alliances with other players -among them, SQM and Albemarle- to test technology to process brines.
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Notes to the editor
(El Mercurio) Canadian miner MGX chose Chile to arrive at the so-called "lithium triangle" -which also make up Argentina and Bolivia-, and for that they associated with the national Kura Minerals, an advisory firm made up of former top executives of large mining companies .
The company will look for opportunities to explore lithium and develop projects, although they also bet on partnerships with other actors -such as SQM and Albemarle-. At the same time, they will test in the country a new technology to process brines.
Currently, MGX Minerals has more than 800,000 hectares in prospective lithium, magnesium and other elements, all located in North America.
"The intention of MGX is to expand its portfolio of projects to the lithium triangle, and Chile will be the initial step. We collaborate with them in identifying different business opportunities, such as associating with existing projects in production or beginning to explore new projects, "explains former BHP and one of the founders of Kura Minerals, Francisco Acuña.
"Chile is an example where although there are problems, institutions work, much more than in neighboring countries, which generates certainty in investments, in addition to having a history of mining country. Investors, in general, know the problems, but they trust the country, "adds the former Anglo American and Kura Minerals partner, Thomas Eggers, regarding the decision of the Canadian to arrive in the country.
The company will also seek options for alliances with industry players that are already positioned in the country, such as SQM and Albemarle -the current lithium producers in the Atacama salt flat-, companies that are developing new projects and organizations such as Corfo or universities.
"We believe that there is a business opportunity with the different players, because MGX is betting on the exploration and development of deposits, as well as testing its new technology," says Acuña.
The North American, through a subsidiary, developed a patented technology that, they say, would offer a change in the processing of brines and other solutions rich in lithium and other elements of interest. This process, they say, would have an advantage over the traditional solar evaporation used in the Atacama salt flat. This, since it would be more efficient and with less environmental footprint.
Therefore, they will build the first demonstration plant in Chile of this technology.
$100,000 a month cash flow from the smallest unit? a bit of speculationn on my part, that these units can/could run continuous around the clock, but even allowing 20 out of 24 hours at $35 per cubic meter at 5 cubic meters per hour, does that sound about right? double and quadruple that for the bigger units and suddenly the company has money comming IN instead of all going OUT. really happy to see them get to this point.
It's very important to note, large scale trials and customer acceptance testing have been completed. They just need to prep the site which may require scheduling a shutdown, then we are off to the races.
i think this is just an imaginary company
MGX is working on Li battery stuff. Is this a new iron in the fire? If I wasn't a shareholder it would seems very interesting, but I believe it's a new "shiny" thing. Its apparently not a near or mid term item. Opinions anyone?
Finally some revenue!!!
A quick calculation - 3 week run in December produced $30k revenue, so 10k revenue per week with a 750bpd unit. If run continually for a year that is over 500k per year per 750 bpd unit. Double that capacity to a 1500bpd unit theoretically produces over $1,000,000 revenue per 1500bpd unit.
I like the sound of that. I like it regardless if it's Canadian or US dollars.
Everyone has a different take on the merits (or not) of this company. And just about everyone who invests has been burned by a small Canadian mining stock. I have, and boy it looked like a sure thing. For me, the proof in the pudding will be if they can deploy this mechanism successfully in their own well in the Paradox Basin. This is one of the most oil rich basins in the US but drillers have shied away because of the brine . . . even in new wells (not the usual end-of-life well brine). MGX has a vast holding in the Paradox. If they can take this out of the laboratory, so to speak, to a mammoth salt extraction platform in the field, why then I agree: the sky is the limit. And I'm talking about a hundred-fold multiple. If they can't handle the salt in the Paradox but show gallant effort and partial success, they'll likely get bought out. And if they fail miserably, then 19cents a share is going to look expensive. The Paradox Basin is potentially so lucrative that the lithium aspect will turn into a side issue . . . providing they can drill out their holdings there. Mr. Bruner is now on the board, and he's one savvy oil guy. That's a better sign than all this paid promotion put together and multiplied by a thousand. For the record, I'm buying steadily, and I'm really pulling for this technology, but I'm also still flinching from all those lost dollars I put into Canadian mining stocks in the past. I don't know if this helps or hurts in terms of general contribution to the body of knowledge on this board but it's the way I see it.
I’m in with MGXMF for the long haul. I think the company is at an inflection point, and the revenue will start to increase over the next few years. I have to admit the dizziness of all the directions of management’s time is hard for me to get a handle on. The identification and securing of the best brines should be considered as a real asset going forward. They are way ahead of most of the competition. The Utah mineral rights are a real gem. Profitable oil and gas production has been marginal to none existent because of the huge amounts of salt water being produced, and in the past, that huge volume of water has to be injected at a huge cost. MGXMF was able to buy the mineral rights for pennies on the dollar, and they enter the area with new technology. With the mineral rights being continuous, the project can be engineered on huge volume cost savings. The salt water from current production and newly fracked wells can be cleaned to be reused, and pipeline infrastructure can save an average of $1 barrel for transportation cost. For each barrel of salt water not injected, the company will save $0.50 cents per barrel. The icing on the cake is one of the highest ppm of lithium in the salt water being produced by oil and gas wells in the nation, and MGXMF’s technology can extract the mineral profitably. The company needs to get the 3-D seismic work done ASAP, so E&P companies can determine the new profitability profile of the mineral rights. Yes, MGXMF doesn’t have the expertise or capital to complete this project, but there will be a huge payoff for them including upfront payments and recurring revenue from this asset. Timing is everything in the O&G business, so with oil at $70, the time is now to monetize this asset.
I am trying to figure this company out. They are on a shoestring budget month to month, but they all over the place on projects. With a budget so thin why don't they focus on 80/20 most favorable project.
. Next thing, is every time they do a major development, are they going to spin it off? How is the value of of MGXMF going to appreciate?
Capital raised by dilution of shares. How long will they keep doing this?
I think they have a lot of potential, but revenue by dilution of new shares concerns me. Been watching this for 3 years and more confused today about their corporate plan than I was in the beginning..
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