TSXV:WMG.H - Post by User
Post by
pigsandsheepon Oct 27, 2021 11:24pm
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Post# 34057306
Open pit magnesium trading $.15
Open pit magnesium trading $.15 OK, Howe Street, its go at throttle up: Andris Kikauka's MGX Minerals Inc. (XMG) added 1.5 cents to 10 cents on 832,000 shares Tuesday and leapt five cents to 15 cents on 6.92 million shares today following word that it is touting manganese from its Driftwood creek project in British Columbia for use as a propellant in magnesium-carbon-dioxide-type rocket thrusters. Mr. Kikauka, CEO, cheers the material as having a higher specific impulse than traditional propulsion systems.
MGX lists a resource of eight million tonnes measured and indicated averaging 43.3 per cent magnesium oxide and 846,000 tonnes inferred at 43.2 per cent. Most of this, Mr. Kikauka applauds, is within 100 metres of surface, presumably making it open-pittable ore. Progress has been slow, but the company probably has ample time, as magnesium-carbon-dioxide engines are primarily considered for tr