1. A 12,000 litre per day pilot plant for extraction of lithium and other valuable minerals from oil field salt brine is more than 50% complete. Laboratory and physical testing of equipment continues as the pilot plant nears completion.
2. The company plans to upgrade non-compliant resource estimate of 2 million tonnes of lithium carbonate equivalent pending completion of final testing of rapid extraction of lithium from salt brine process.
3. The patent pending technology leverages the huge availability of low cost thermal energy available in the oil and gas fields allows for a 99% reduction in evaporation time (from 18 months to 1 day) and 90% increase in recovery rate (from 50% to 90%).
4. Existing infrastructure in the oifields allows for direct connection to massive brine production that occurs each and everyday. MGX controls mineral rights over greater than 1M barrels per day of current brine production. As a reference 1M barrels of brine at 50mg/L Li is equivalent to approximately 14,000t lithium carbonate. in addition to pipelines other infrastructure includes rail, roads, and large scale industrial oil and environemtal treatment facilities.
5. The pre-treatment of brine removing oil, other colloids, and heavy metals; combined with crystallization of minerals produces a by-product of clean water which can be sold, released or sent back down hole with significantly reduced impact compared with caustic brine.
"9 Reasons" Report From Last May:
https://ceo.ca/@50yearbeckfan/9-reasons-why-mgx-minerals-will-succeed