GREY:MGXMF - Post by User
Comment by
allenjameson Nov 03, 2020 5:50am
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Post# 31828246
RE:WHEN A JUNIOR IS TOO FIXATED ON LITHIUM ?
RE:WHEN A JUNIOR IS TOO FIXATED ON LITHIUM ?Wango: Driftwood is a very large deposit of MgO and is drilled out ready for a mining deal with a major if we can get the divided board problem settled. You estimate of Magnesium Metal selling for about $5,000.00 USD per ton is close.
The Magnesium from salt needs the same process (electrolysis) as dead burn't magnesium Oxide from driftwood and hard rock mining. MGX M has been working for year to gain a join venture deal to put driftwood into production and buld a plant in southern BC to convert the Dead burn't Magnesium oxide to Magnesium metal.
The price of Magnesium has risen from $1,500.00 USD per ton about 3 years ago to about $4,600.00 USD per ton. This puts driftwood in a much better position to go forward than 3 yesrs ago.
Wango you are on the right track. MGX M is in a position to produce Magnesium metal from 2 sources at a world class level. Lithium is not the only game in town.
GOOD LUCK TO ALL INVESTORS