RIGHT OUT OF A - JIM CAREY MOVIEWith in 3 months what happened between these 2 press releases?
Novembers 2022 press documents March 01 2023
Mere 107 days
Nov 14 2022 - March 01 2023 https://www.timeanddate.com/date/durationresult.html?m1=11&d1=14&y1=2022&m2=03&d2=01&y2=2023 November 14, 2022 VANCOUVER – TheNewswire - November 14, 2022 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTC:MGXMF), announces receipt of a formal proposal for the design of testing, testing, engineering design, procurement, construction, and commissioning of a 15tpd pilot processing plant to specification 3303# silicon metal from the Company’s Gibraltar silica deposit; The current price of silicon metal FOB East China is $3,035 USD (metals.com November 14, 2022) and has remained about $3,000 USD for an extended period. There has been global supply chain shortages of silicon products including micro-chips, solar panels, silicon carbide steel, and other silicon metal based products. This has affected a wide variety of industries and placed greater importance on domestic mine to market supply chains. The Company has an off-take agreement in place with Dong Bang Metals of South Korea.
Wango
15 tonnes x $3000 usd x 365 days
= $16,425,000 / yr ( every year not even scaled up ) That's just a small plant
And all those silica plans and forward contracts
Gone for
$500k April 28 2023
Silicon Metal
MGX has sold its British Columbia Silicon Metal properties to Mt. Wilson Silica Ventures Inc. for $500,000, payable in instalments, pursuant to a purchase and sale agreement dated
March 1, 2023. The first instalment of $250,000 has been paid and the property has been transferred. The second instalment will become due and payable when Mt. Wilson Silica Ventures Inc. obtains all permits required for the development, construction and commercial operation of the first mine on the property. The agreement also grants MGX a one-time contractual right of first offer for the purchase at market prices of the lesser of (a) 100,000 tonnes of 99% silica, or (b) 50% of total output production from the property.
REN Tantalum-Niobium
MGX has sold its REN Tantalum-Niobium project to North American Carbonatite Exploration Pty. Ltd. for $140,000 AUS minus outstanding property payments passed due, pursuant to a purchase and sale agreement dated March 9, 2023.
Corporate Update
MGX has used the majority of funds from the recent property sales to pay down accounts payable including legal, auditors and accountants for the purpose of returning to trade and as well as property payments and various AP. The major outstanding audit item remains the final signoff on its PurLucid subsidiary which is believed to be near completion. The Company appointed Stephen Saltzman as a director and member of the Audit Committee, effective November 1, 2022.