MGX is focused on building long-term shareholder value through development of industrial mineral portfolios in specific commodities and jurisdictions that offer near-term production potential, minimal barriers to entry and low initial capital expenditures. Our corporate strategy is to:
MGX has received approval of a 20-year Mining Lease for its Driftwood Creek magnesium project located in southeastern British Columbia. The Company has conducted two rounds of diamond drilling, completed a 100-tonne bulk sample and recently announced a maiden N.I. 43-101 compliant mineral resource estimate. Driftwood is part of a large portfolio of magnesium properties controlled by the Company throughout the Province of British Columbia. The Company controls the majority of magnesium properties throughout the Province as reported by the British Columbia Geological Survey (BCGS) (Simandl, 2014).
The Company identified an opportunity in early 2016 to acquire and develop lithium brine properties throughout the Province of Alberta. Since that time the Company has consolidated a strategic land position spanning over 376,000 hectares, including 14 of the top 25 historical high grade lithium properties (>=90 mg/L lithium) as reported by the Alberta Geological Survey (AGS, 2013). The Company released an N.I. 43-101 technical report in June and is working with well operators throughout the Province to conduct water sampling and acquisition. In August the Company acquired Sturgeon Lake lithium brine property located in the Fox Creek area of Alberta.
MGX has acquired three high-grade silicon projects in British Columbia. Exploration has identified elevated silicon dioxide (SiO2) levels at each project that compare favorably to other silica operators throughout the Province. Recent field reconnaissance reported SiO2 levels reaching up to 99.9%. The Company believes that further metallurgical work is warranted to identify potential ferrosilicon end market uses.
MGX Minerals is a diversified Canadian mining company engaged in the development of large-scale industrial mineral portfolios in western Canada. The Company operates lithium, magnesium and silicon projects throughout British Columbia and Alberta.
|Main Phone:||+1 604 681-7735|
|Address:||1080 Howe Street|
|Address 2:||Suite 303|
|City / Town:||Vancouver|
|Postal Code:||V6C 2T1|
|Issuer Type:||CS - Common Stock|
|NAICS:||All Other Metal|
|Last Price 0.39||Change $ 0.03||Change % 6.94||Tick N/A|
|Bid N/A||Bid Size 0.00||Ask N/A||Ask Size 0.00|
|Open 0.36||High 0.39||Low 0.35||Prev Close 0.36|
|Last Trade||Volume 470,800||52 Wk Hi 0.54||52 Wk Low 0.08|
|Market Cap 21.2 mi||Ex-Div Date N/A||Div Rate N/A||Yield N/A|
|Shares 55,011,508.00||EPS (TTM) -0.07||PE Ratio N/A||Exchange CSE|