The world‘s largest producer of geothermal electricity is California, where possibly the greatest geothermal resources of the world are located. (Source)
After MGX Minerals Inc. made the striking announcement on Wednesday of having developed an environmentally friendly, proprietary, low energy, low cost process for ultra-high temperature geothermal brines, today followed the next landmark announcement.
MGX has retained former California Senate Majority Leader Richard Polanco as an advisor and consultant to the company. Mr. Polanco will lead direct negotiations with the State of California and local municipalities regarding targeted exploration locations and sites identified by MGX as potential partnerships and acquisition targets to secure feedstock and operating sites. These sites will utilize the MGX‘s patented rapid recovery process to concentrate lithium and other minerals and metals from brine. He will also advise MGX on local environmental solutions and support ongoing community and stakeholder relations. Mr. Polanco commented:
“MGX is changing the way we look at the energy industry and the environment. I feel the Company is poised for growth by combining cleantech and mineral extraction to extract lithium and produce a clean water byproduct using low energy nano-filtration. I am excited to join the Company and work alongside their accomplished team as they expand into California.”
Mr. Polanco is a former California State Assembly Member and Senator, having been first elected in 1986. He served in the State Assembly for eight years and in 1994 was elected to the State Senate where he served as Senate Majority Leader from 1998 until his retirement in 2002. Prior to elected office, Mr. Polanco also served on the staff of Los Angeles County Supervisor Ed Edelman, Assemblyman Richard Alatorre and former Governor Jerry Brown.
As MGX nears deployment of its first 1,000 barrel/day NFLi-5 Commercial System, California´s geothermal brines appear to hold tremendous promise for dual markets of mineral extraction and water treatment. The possibility that these systems will actually have a net positive environmental benefit, by cleaning the water, is a new concept of industrial processes that have a net benefit to the environment. MGX is uniquely positioned with a striking vision of the future that brings industry and environment into balance.
California is known for its large geothermal resources and many geothermal power plants. According to Energy.com, there were 43 geothermal power plants in operation in California last year.
"The geothermal fields near the Salton Sea are the hottest, most prolific resource in the U.S. ... One technical challenge that has been turned into an asset is that the region’s geothermal fluid is approximately 75% water and 25% dissolved solids which contain significant amounts of valuable minerals including lithium, manganese and zinc. One enormous potential side project under exploration is the capture and reuse of the minerals which are important to battery and energy storage technology. Finally, the remaining fluid, about 80% of the original volume, is sent back into the ground, again using natural pressures in the loop." (Source: "Geothermal: The Other California Renewable")
"Currently the U.S. is leading the way in the Geothermal industry, generating 2,850 MW of power. 2,500 MW of this is from California, which is the state with the greatest geothermal resources. Overall, the west of America has far more potential geothermal sites than the east. Globally, Geothermal energy is used for direct heat at a scale of 12,000 MW. Combined with electrical generation it accounts for 0.15% of the world´s energy production. The U.S. potential with current technology is for 6,000 MW, however this could be increased to 20,000 MW with technological improvements." (Source)
MGX to Target Geothermal Market for Extraction of Lithium and Gold
New Technological Breakthrough to Disrupt the Geothermal Industry
Wednesday, November 29, 2017
Today, MGX Minerals Inc. made a striking announcement of having solved another major energy problem globally. Together with its technology partner PurLucid Treatment Solutions Inc. they have developed a novel filtration technology for the purification of geothermal brines and the associated extraction of minerals and metals, including lithium, magnesium and gold.
Most importantly, MGX and Purlucid have developed an environmentally friendly, proprietary, low energy, low cost process for ultra-high temperature geothermal brines. This technological breakthrough will open doors globally to the geothermal sector, or as MGX President & CEO Jared Lazerson commented in today´s landmark press-release: “We believe in investing in technology and innovative processes that disrupt how the energy industry thinks and operates. Our newest technological advancement offers yet another first-mover opportunity into a large and often stagnant sector hungry for new ideas.”
Read the rest of the article here.
MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735
Shares Issued & Outstanding: 77,782,417
Canadian Symbol (CSE): XMG
Current Price: $0,95 CAD (11/30/2017)
Market Capitalization: $74 Million CAD
German Symbol / WKN (Frankfurt): 1MG / A12E3P
Current Price: €0.64 EUR (11/30/2017)
Market Capitalization: €50 Million EUR
Report #29 “MGX to Target Geothermal Market for Extraction of Lithium and Gold“
Report #28 “MGX Minerals Commences Development of the World‘s First Petrolithium Field“
Report #27 “Canadian Government Backs MGX Minerals‘ Petrolithium Cleantech“
Report #26 “MGX Minerals Solves the Magnesium Problem of the Lithium Industry“
Report #25 “Hard-Rock Lithium Exposure for MGX“
Report #24 “One of the Largest Initial Oil Estimates in US History“
Report #23 “MGX starts Petrolithium pilot plant to deliver hard facts for strategic partners“
Report #22 “Time to bet: Sprott takes a position in MGX“
Report #21 “Petrolithium: First Come First Served“
Report #20 “Successful Independent Verification of the MGX Lithium Extraction Technology“
Report #19 “MGX to Drill the World‘s First PetroLithium Well in Utah“
Report #18 “MGX Reports Upgrading of Lithium Brine from 67 to 1600 ppm Lithium“
Report #17 “MGX technology nominated for prestigious Katerva Award, the Nobel Prize of Sustainability“
Report #16 “Unconventional oil play legend Marc Bruner to take MGX and PetroLithium to the next level“
Report #15 “Total Conviction: MGX forms PetroLithium Corp. to expand into the US oilfield brine markets“
Report #14: “MGX Extracts Lithium from Oil Wastewater - Begins Monumental Integration with Big Oil“
Report #13 "MGX Partners with Oil Major on Lithium Brine, New Energy Industry Facing Fundamental Shift“
Report #12 "Game Changing Potential: MGX Minerals‘ Pilot Plant for Rapid Production of Lithium Nears Completion“
Report #11 "MGX assays 34 g/t gold from surface sampling in British Columbia“
Report #10 “Official: MGX owns magnesium worth multi-billions of dollars and starts pilot plant shortly“
Report #9 “One of the world‘s largest lithium resources on the horizon?“
Report #8 “Ready for significant lithium brine work in Alberta“
Report #7 “At the forefront of Alberta‘s lithium brine riches“
Report #6 “Pioneering Lithium in Alberta: MGX Minerals Teams Up“
Report #5 “Time to Put a Lithium Production Process in Place“
Report #4 “MGX Minerals Taps Into Canada‘s Potentially Largest High-Grade Lithium Resources“
Report #3 “MGX Minerals Receives Mining Lease for 20 years (in British Columbia!)“
Report #2 “MGX Minerals Accelerates Towards Production“
Report #1 “MGX Minerals Plans To Enter The Magnesium Market“
Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. The author hold a long position in MGX Minerals Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc.