Today, MGX Minerals Inc. reported that a second deployment of an advanced wastewater treatment system is near completion and commissioning is expected shortly. The system has a capacity of 10 m3/hour and thus is twice as big as the first system which started commercial operations in late 2018.
This now marks another major milestone for the company and represents "a paradigm shift advancement in waste water management and oilsands operations" as the company noted today. The technology can significantly reduce greenhouse gases through energy savings, providing superior treatment outcomes when compared to conventional methods, which require offsite trucking and high-cost disposal of the highly toxic wastewaters.
The new technology developed by MGX/PurLucid can treat such production wastewaters in line at the production site, under high temperature and pressure, without cooling it first. The result is significantly less energy use, reduction in greenhouse gases and also the elimination of heat exchanger fouling, a major operational challenge of a SAGD (Steam Assisted Gravity Drainage) facility.
MGX today also announced that a third system is being finalized. With a capacity of 10 m3/hour, this system will also extract lithium from brine after the wastewater has been cleaned of oil and bitumen. Commencement of lithium extraction will occur as this customer comes online.
In mid-January, MGX reported commissioning results from its first system (5 m3/hour) based on a 3-week study period in December 2018. The results demonstrated that the system was “highly successful in achieving all treatment chemical key performance indicators“, the company stated. “Most notable were treatment outcomes, which included removal of silica, calcium and magnesium totaling 99.7%, 88% and 72%, respectively. Additionally, total suspended solids in the treated product were non-detectable, effectively creating a clean water by-product for reuse.“
This marked the historic achievement of having successfully deployed a fully functional commercial system capable of cleaning highly contaminated production wastewaters from the oilsands industry. The innovative cleantech company recorded $30,000 CAD in revenue during this 3-week commissioning period, whereas potential revenue from the extraction and sale of lithium is not included. Significant upside from both revenue streams is possible. Most importantly, hourly throughput during the commissioning phase was also reported as “stable and optimization of control systems were successful in maintaining flow balance, overcoming any concerns of outdoor operations in cold weather conditions“. In other words: No technical issues were recorded; the system runs smoothly and performs successfully.
With 2 larger systems now coming online shortly, MGX is in a position to bank on its first mover advantage in this multi-billion industry eagerly looking for ways to significantly reduce operational costs and environmental footprints. What makes this all the more attractive, especially for other oil producers globally to adopt this low energy, low cost and low CAPEX technology, is that nobody – except MGX/PurLucid – can do this. MGX has now effectively demonstrated this technology and is already scaling up. More details here.
MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735
Shares Issued & Outstanding: 139,069,193
Canadian Symbol (CSE): XMG
Current Price: $0.40 CAD (02/06/2019)
Market Capitalization: $56 Million CAD
German Symbol / WKN (Frankfurt): 1MG / A12E3P
Current Price: €0.278 EUR (02/06/2019)
Market Capitalization: €39 Million EUR
Report #86 “MGX Minerals reports initial revenue and performance data from the successful commercialization of its first wastewater treatment system in Alberta“
Report #85 “MGX Makes A Startling Gold Discovery In British Columbia with up to 35.9 g/t gold on the Fran Property“
Report #84 “Revenue Phase For This Canadian Industrial Cleantech Superstar"
Report #83 “MGX Starts Petrolithium Revenue And Growth Cycle Next Week"
Report #82 “New MGX Patent To Make Heavy Oil And Oilsands Producers Much More Competitive"
Report #81 “Belmont reports final lithium assays from first hole of 2018 and gets ready for continued drilling at Kibby Basin in Nevada"
Report #80 “MGX-Belmont Announce Next Round of Encouraging Lithium Drill Results from Nevada"
Report #79 “MGX-Belmont sample up to 580 ppm lithium in sediments at Kibby Basin Nevada Joint Venture"
Report #78 “MGX Identifies Large Geophysical Anomaly at Salinitas Lithium Project, Salinas Grandes, Argentina"
Report #77 “MGX-PurLucid Achieve 99.7% Lithium Recovery Along With Breakthrough in Component Costs"
Report #76 “MGX-Belmont Drilling Finds Multiple Brine Prospective Zones at Kibby Basin Lithium Joint Venture in Nevada"
Report #75 “MGX engages one of the world‘s most respected lithium upgrading and commercial scale-up experts"
Report #74 “MGX-ZincNyx start product certification for the mass market"
Report #73 “MGX-ZincNyx Announce Mass Production of Zinc-Air Battery Fuel Cell and Charging Components"
Report #72 “MGX Moves to the Big Time, Acquires Chilean Lithium Brine Projects"
Report #71 “MGX provides Update on Deployment of Several Plants for Rapid Lithium Extraction and Wastewater Treatment in Alberta“
Report #70 “The Drills are Turning at MGX-Belmont‘s Kibby Basin Lithium Joint Venture in Nevada“
Report #69 “MGX Engages Hatch Engineering for Scale-Up of its Rapid Lithium Extraction Plant in the Western United States“
Report #68 “MGX and Belmont to Start Drilling at Kibby Basin Lithium Project in Nevada on Saturday“
Report #67 “MGX Expands to Argentina, Home to One of the Largest and Richest Lithium Resources in the World“
Report #66 “MGX and Belmont Form Nevada Lithium Joint Venture at Kibby Basin“
Report #65 “MGX-Highbury Expand Work to Gasify Petcoke into a Synthetic Crude Oil Equivalent“
Report #64 “MGX Delivers Update on Commercial Deployment of its Wastewater Treatment and Lithium Extraction Systems“
Report #63 “MGX is Drilling for Solar Grade Silicon Metal in British Columbia“
Report #62 “MGX-ZincNyx Now Ready To Start Commercialization Of Battery Systems For Mass Storage Of Energy“
Report #61 “MGX Minerals Raises $15,5 Million in an Oversubscribed Financing to Speed Up Lithium and Advanced Material Projects“
Report #60 “Sneak Preview of Big Oil Entering the Business of Big Batteries“
Report #59 “MGX Wins Industry Leadership Award from S&P Global Platts“
Report #58 “MGX Nears Commercial Deployment of 4 Petrolithium and Water Treatment Systems in Alberta“
Report #57 “MGX Announces Quadrupling of Power Output of Zinc-Air Fuel Cell Battery“
Report #56 “MGX Sets The Record Date For Its First Dividend“
Report #55 “The First ZincNyx Energy Storage Plant to be Deployed in New York City“
Report #54 “MGX in Final Stages of Commercial Deployment, Second Petrolithium Contract Already in the Making“
Report #53 “MGX-Highbury Accomplish Almost Complete Gasification of Petcoke, Produce High-Grade Vanadium Concentrate“
Report #52 “MGX Set to Alter Lithium Landscape, Partners with Investment Bank Heavyweight Capstone Headwaters“
Report #51 “Congratulations! MGX Nominated in 2 Categories as a Finalist for the S&P Global Platts Metals Awards“
Report #50 “MGX Gets Serious About Magnesium, Engages Hatch for Magnesium Metal Scoping Study“
Report #49 “MGX to Acquire and Commercialize Clean Technology for Extraction of Lithium and Aluminum from Spodumene“
Report #48 “MGX Minerals Issues PEA for a World-Class Magnesium Project in British Columbia“
Report #47 “High-Grade Battery Metals From Dirty Petcoke“
Report #46 “Big Times Ahead For Several Joint Ventures from MGX Minerals“
Report #45 “MGX Partner Broadcasting on US Television“
Report #44 “The Big Rethinking Begins: Multiple Lithium Projects in Chile Test the Rapid Lithium Extraction Technology from MGX“
Report #43 “Global Lithium Dominance? MGX Doubles Performance of Lithium Extraction Filters“
Report #42 “Scores of Tail Winds for MGX becoming a Leader in the New Energy Economy“
Report #41 “MGX Goes Big, Develops Utility-Scale Battery Storage System“
Report #40 “Positioned to Profit from Transition to New Energy Economy“
Report #39 “MGX Assembles Dream Team For California Lithium Strategy“
Report #38 “MGX: The Next GreenTech Energy Giant“
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 #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: This report contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Rockstone Research and MGX Minerals Inc. cautions investors that any forward-looking information provided herein is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the MGX´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the MGX´s profile on SEDAR at www.sedar.com. Cautionary Statement: MGX Minerals Inc. (“MGX“) may decide to advance its petrolithium projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure. Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. MGX Minerals Inc. has paid Zimtu Capital Corp. to provide this report and other investor awareness services.The author, Stephan Bogner, holds a long position in MGX Minerals Inc. and is being paid by Zimtu Capital Corp. for the preparation and distribution of this report, whereas Zimtu Capital Corp. also holds a long position in MGX Minerals Inc.