Baymag mines magnesite from BC and processes in, Exshaw Alberta.
how's that working out for BC when Alberta recieves recognition for finished products ?
Mt Brussilof Deposit The Baymag deposit is defined as an area about 790 by 500 metres on a northwest axis with a maximum thickness of at least 120 metres within the main magnesite zone. The deposit is open in three directions with potential for substantial new reserves.
In 1980, proven and probable reserves were 9.5 million tonnes grading over 95 per cent magnesia in the calcined product and 13.6 million tonnes of 93 to 95 per cent magnesia in calcined product. Possible reserves were estimated at 17.6 million tonnes averaging 92.44 per cent magnesia in the calcined product (Fieldwork, 1990).
https://minfile.gov.bc.ca/summary.aspx?minfilno=082JNW001
Not the best writeup...
so much more could have been revealed.
Baymag's reserve is only 17.6 million tonnes ( they'd mine this high grade first )
Rhat was years ago.
What remains ?
Magnesite zones and...... Dolomites.
Notice their grade is AFTER Calcining !!!!!
Report link above
speaks of additional drilling but does not reveal what drilling encountered in
main write up.... ( odd )
Deposit is said to be open in 3 directions.
Strikes northwest
Scales up mountain ( bench mining )
Can they really expand ?
Suppose photo link below demonstrates typical N, S, E, W
Deposit strikes NW
Bench mining further up mountain would ruin asthetics of mountain
East - no more mountain
West - they'd run into RIVER
South - river is there
Going deeper in ground could pose issues at base of mountain ( landslides, etc... )
Open Link to View Baymag Mine ( expand to gain better view )
https://www.refra.com/en/Baymag/
Same photo link has captioned words...
MgO contents of more than 97 %.
Baymag's deposit contains magnesite reserves in excess of 50 million tonnes.
Content is a lovely word.
Content could also describe discreet pockets of highgrade zones
Not.... grade throughout.
Main Report
revealed AFTER calcining the higher grade is produced.
Suppose Bagmag has already mined their 9.5 million tonne highgrade zone. ( long ago )
And... with not much info on what drills found ------> over the years
And... deposit on side of mountain with limitations ( river, asthetics, east Mt ends etc... )
Would they continue in Mg sales or.... target Dolomite and find diff uses ?
Could their new venture assisting mines with water treatment using PMAP
have anything to do with calcium from dolomite ores ???
Refer to Baymag's press releases pertaining to water treatment ( PMAP )
https://pmap.ca/technology/
Let's back track... ( baymag deposit )
1966 and diamond core drilling in the early 1970s proved reserves in excess of
50 million tonnes of high-quality magnesite ore.
https://www.baymag.com/about/
Remember baymag's grade is after ------------> calcining.
MGX's Driftwood has 43% grade after calcining.
removing C + O bonds
Could one assume Bagmag would remove similar ( C, O bonds ) same weight ?
Less impurities could mean....
Bagmag ORE grade might be very similar to.... MGX's ?
We could go one step further to critique Baymag reserves...
17.6 million tonnes averaging 92.44 per cent magnesia in the calcined product
(Fieldwork, 1990).
https://minfile.gov.bc.ca/summary.aspx?minfilno=082JNW001
Magnesia Formula
Mg(OH)
Double ( OH) bonds
Resulting in ....
1 extra O
2 extra H
= far more weight added in post magnesia product as.... reserves
= vs MgO
Which begs....
what would Baymags MgO reserve be on it's own ?
Factor....
Does Baymag have limitations on it's deposit ?
River, no E side of Mt, can they bench mine up Mt = enviro asthetics ?
Do they need more MgO resources ?
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MGX
Why did MGX not show their Driftwood engineering report ?
Would a $100 million furnace shelve the project ?
Who was the engineering firm ?
Why did MGX have issues with NDP ?
Why did the Gold Comm act out against MGX ?
Why did Canadian exchsnge halt while US exchange left open to trade ?
Why did MGX say they'd protect shareholders in press ?
Why were key assets sold and investors led on ----> only financials ( purlucid ) remained ?
Were mgx preferred shareholders looked after while common squeezed out ?
Why is there no financials on Sedar showing distribution of monies owed vs sold claims ?
Were any monies used from sales of mgx lands used for.... North Bay Resources ( launch )
Was Canadian exchange stock value force drained to erase -----> brine / financials / lbnk ?
Who forced drained mgx stateside to bottom value right to $0 ?
At the end of the day....
Others have our key assets
Personel are srill working - no loss to their income or interest
While shareholders are not given any answers yet... monies/shares are still seen / trade acct's.
Tactic to still show shares and value in acciunts = prevent retribution of value ?
Show shares in account but can't access = places shareholders in limbo.
Did a few create this chess move to checkmate shareholders while leading them on
with -------> go back to trade -------> after purlucid financials ?
Could one analyze the actions taken and assume = deliberate or failed intention ?
Versus promises of purlucid financials and --------> go back to trade ?
Versus sell off key assets - why ?
Is it not odd so much $$$ owed - came against mgx ? All at once ?
What did mgx hold in assets ? lol
Versus what is now = 2 stocks bottomed out and shareholders left in limbo.
Again.... how does a stock go from 5 cents to multiple 0.0000001 cent ?
Trades have to be made ------> record of trades ------> who took stocks down to zero ?
And.... mgx personel are now all comfy assuming roles elsewhere.
Hmmmmm.