SILICAJust reread the Silica press again.
I don't like how it was written.
Should the word (
purchase ) be replaced by (
sale ) ?
How it reads now ?
Sounds like... MGX has first rights to purchse 100,000 tonnes or 50% output.
Not unless ( first offer ) implies ( other purchaser ) such as Sinova.
Silica what ? omg... 99% Silica Sand = $160/t usd x 100,000 t = $16 million
99% Silica Metal = $3,000 - $4,000 per tonne mega $$$
MGX Silica Claims ( Press ) April 28, 2023 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.
https://ceo.ca/@thenewswire/mgx-minerals-announces-assays-up-to-104-lithium Since Sinova is in the process of building a plant...
Would be nice to see an update on the silica claims and where cdn shareholders
fit in.
Keep in mind...
Therefore MGX has retained counsel consulted with the opposition party and will protect shareholder rights.