MGX Minerals (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) is reaping the rewards of solid investment strategies and an innovative process to recover lithium and other minerals through a proprietary method that takes the place of evaporation to cull minerals from brine wastewater. Nearly 2 million acres of brine-bearing formations have already been acquired and an operating agreement with a private lender to acquire a 75 percent working interest in oil and gas leases gave MGX access to a project that covers significant parts of Utah and Colorado. An article discussing this reads: “A number of achievements have been noted recently. Wastewater and lithium brine were processed from eight different projects, at a one-cubic-meter-per-hour rate, in August 2017. The effort proved the economic viability of the company’s technology. MGX also succeeded in employing the rapid recovery process to recover concentrated lithium from heavy oil evaporator blowdown wastewater. In April, results from the Saskatchewan Research Council, which conducted independent laboratory testing, noted the success of the extraction process. At the Sturgeon Lake oilfield, it measured a recovery of 83.7 percent lithium and a concentration of 461 parts-per-million of lithium.”
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About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in lithium, magnesium and silicon assets throughout North America. MGX currently owns 34% of PurLucid and has the exclusive right to acquire a 100% interest as well as owning the global rights to recently developed lithium and mineral extraction technologies co-operatively developed by PurLucid and MGX. For more information, visit the company’s website at www.MGXMinerals.com.
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