MGX Minerals (CSE: XMG / FKT: 1MG / OTCQB: MGXMF), has come out with a slew of news announcements recently from increasing its stake in PurLucid to 55% to its subsidiary ZincNyx Energy Solutions Inc., having received the first shipment of components for its 20-kilowatt output/120-kilowatt-hour storage zinc-air fuel cell battery to drills up to 105 meters of 98.7% silica at Koot Silicon Project amongst other news releases.
All of this may seem confusing but many believe as do I, that the shining star of MGX is the technology of extracting lithium from brine. That is why partner PurLucid plays a pivotal role. Taken from its August 7th, 2018 news release:
https://stockhouse.com/news/press-releases/2018/08/07/mgx-minerals-increases-ownership-in-lithium-and-cleantech-partner-purlucid
“MGX Minerals Inc. has increased its ownership in engineering partner PurLucid Treatment Solutions to 55 per cent with the investment of $2.6-million. NFLi-5 plant deployment update: MGX and PurLucid are pleased to report that site preparation and integration engineering of the first wastewater and lithium extraction system is near completion. The system is being installed at a steam-assisted gravity drainage (“SAGD”) operation in the Alberta oilsands to treat heavy oil evaporator blowdown wastewater. The system will take highly concentrated evaporator brine and treat it to a level suitable for lithium extraction and reinjection on site. Mineral levels are elevated as a result of the evaporator brine concentration process. The plant eliminates high cost water disposal, vastly decreases trucking volumes, and provides diversification into renewable energy commodities. The system utilizes a highly charged Replaceable Skin Layer (RSL™) membrane related to the Nanofiltration and High Intensity Froth Flotation (HiFF) system, known as Nanoflotation, which collectively have demonstrated performance superiority over other processes typically used to remove contaminants. The technology allows ultra-high temperature water treatment (up to 500oC) at 10-30 times the efficiency of existing ultrafiltration systems and offers numerous environmental benefits, including contaminant removal, mineral recovery, reduced energy demand, smaller footprints and lower capital costs.”
MGX is a multi-faceted company led by visionary Jared Lazerson. Under his leadership, the company’s partnerships and acquisitions, in general, can be viewed as a success. In my opinion, the star being its partnership with PurLucid: “PurLucid’s exclusively licensed and patented nanoflotation technology was designed specifically for oilfield environments. The technology separates impurities from oil and gas wastewater and produces clean water as a final product. This allows for the recycling or controlled release of oilfield wastewater and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oilfield and oilsands operations today.”
https://stockhouse.com/news/press-releases/2018/08/07/mgx-minerals-increases-ownership-in-lithium-and-cleantech-partner-purlucid
The next step of success is for the company to start signing major sales agreements. This alone will separate them from the ‘men from the boys’. Stay tuned.
Happy Investing!
Dr. Kal Kotecha
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