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Bullboard - Stock Discussion Forum MGX Minerals Inc MGXMF

MGX Minerals Inc. is a Canada-based diversified resource and technology company with interests in advanced materials, metals, and energy technologies. The Company’s portfolios include Magnesium, Silicon, Lithium, Gold, and Silver. Its Magnesium projects include Driftwood Creek, Marysville, Red Mountain Group and Botts Lake. Its Silicon projects include Gibraltar, Koot and Wonah. Its Lithium... see more

GREY:MGXMF - Post Discussion

MGX Minerals Inc > RIGHT OUT OF A - JIM CAREY MOVIE
View:
Post by Wangotango67 on Jul 30, 2023 12:14pm

RIGHT OUT OF A - JIM CAREY MOVIE

With 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.




Comment by PipinoCuevas on Jul 31, 2023 12:42pm
This post has been removed in accordance with Community Policy
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