Today, MGX Minerals Inc. announced world-class lithium drill results. Such news demonstrates MGX‘s acute sense for strategic investments at early stages to eventually pay off big time. 

MGX owns numerous stakes with joint venture partners specialized in the new energy economy: Power Metals (lithium mining project), PurLucid (water treatment and lithium extraction technology for oil producers et al.), Highbury Energy (nickel, vanadium and cobalt extraction technology for petroleum coke producers et al.) and ZincNyx/Teck (energy mass storage technology). 

On top of all that, MGX is getting increasingly active with its own mining projects, such as its Silica Projects in British Columbia (high-grade SiO2 for the production of solar panels), its Driftwood Project in British Columbia (8 million t of high-grade magnesium resources) and its Petrolithium Project in Utah (6 billion barrels of oil in place, plus lithium).

At an early stage, MGX joint ventured into the Case Lake hard-rock lithium project in Ontario. Today‘s drill results show that it was the right decision to get a significant stake (up to 35%) in this world-class project as the "Main Dyke" revealed high-grade lithium over significant lengths: 

Hole #40: 2.81% Li2O and 143 ppm Tantalum over 7 m
Hole #40: 2.07% Li2O and 214 ppm Tantalum over 18 m
Hole #35: 1.17% Li2O and 165 ppm Tantalum over 8 m

Late last year, near the end of the 2017 drill program, 2 new spodumene pegmatite dykes were discovered down hole of the Main Dyke. The first new dyke is located 20-40 down hole from the Main Dyke and 35-40 m vertical depth from surface. The second new dyke is located 50 m down hole from the Main Dyke and 50-80 m verstical depth from surface. Both dykes are open in all directions and further drilling is required to define these new discoveries. Assay highlights for the first new dyke includes 1.11 % Li2O and 73 ppm Tantalum over 6.42 m. On January 10, a new drill program (2,000 m) started, hence new assays are expected on a regular basis.

Bottom Line

On January 12, a highly interesting article on MGX was published in Chile, entitled "Former Chilean executives from large mines associate themselves with a Canadian firm [MGX] for the exploration of lithium". Alliances with companies such as SQM and Albemarle are seeked to test the MGX technology for the processing of lithium brines (see also: "MGX Solves the Magnesium Problem of the Lithium Industry").

On Tuesday, when MGX announced a new partnership with Highbury Energy (see here) to tackle the daunting environmental problem of petroleum coke, its stock price started a breakout. On the same day, MGX was mentioned in a Bloomberg article (see here) on Alberta´s environmental problems. There´s simply no other company like MGX that is positioned so broadly in the greentech energy sector poised to help lessen the environmental burden of North America´s energy economy. 

Cleaning up the mess from big oil sand operators could become a new market of gigantic proportions: Provincial regulators estimate the clean-up of Alberta‘s oil sand facilities as a $27 million CAD liability, of which the responsible companies have posted only about $1 billion CAD in security. It becomes increasingly clear that regulators must step up to enforce a solution from the majors to do something against such polluting waste products. MGX could be part of the solution. 

Company Details

MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735 

Shares Issued & Outstanding: 93,509,760 


Canadian Symbol (CSE): XMG
Current Price: $1.37 CAD (01/17/2018)
Market Capitalization: $128 Million CAD


German Symbol / WKN (Frankfurt): 1MG / A12E3P
Current Price: €0.913 EUR (01/17/2018)
Market Capitalization: €85 Million EUR 

Previous Coverage

Report #37 “MGX Partners with Highbury Energy to make Petroleum Coke more Clean“

Report #36 “Technological Breakthrough in the Mass Energy Storage Industry“

Report #35 “Eureka! MGX Starts Developing Silica Projects after Acquisition of Mass Storage Battery Technology“

Report #34 “MGX Going Big on Petrolithium: The first large-scale integrated petroleum and lithium project ever developed“

Report #33 “Driving into the Realms of Tesla & Co: MGX Acquires Mass Storage Battery Technology from Teck Resources“

Report #32 “Backed by Private and Institutional Heavyweights: MGX cashes up for Lithium Extraction and Exploration“

Report #31 “MGX Revolutionizes the Lithium World - Commissions First Rapid Lithium Extraction System“

Report #30 “Full Steam Ahead: MGX Engages Senator Polanco (Ret.) to Head California Lithium Brine Strategy“

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.

Write a comment

19.01.2018 17:58:04
"ZincNyx Plans Flow Battery Mass Production Within a Year" (JANUARY 19, 2018 by GreenTechMedia)

The company is aiming for a price of $16,000 for a 20-kilowatt-hour product with an output of 5 kilowatts per hour. An equivalent system from Tesla would cost around $56,000, or three times as much, he said.

It has gone through two phases of product prototyping. ZincNyx has a distribution agreement with “a major German group” specializing in diesel generators and off-grid power supplies, according to Lazerson.
Likes | 34
Dislikes | 0
Name: MGX Minerals Inc.
Canada Symbol: XMG
Germany Symbol / WKN: 1MG / A12E3P
Shares Issued & Outstanding: 93,509,760
Phone: +1 604 681 7735

Anmeldung zum Newsletter:

Newsletter deutsch:
Newsletter englisch:
Sie erhalten nach der Anmeldung eine E-Mail mit einem Bestätigungslink. Erst nach Erfolgreicher Bestätigung sind Sie für den Newsletter angemeldet.


english/german - german/english