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With a market capitalization of $21 million CAD, MGX Minerals Inc. (CSE: XMG; Frankfurt: 1MG, WKN: A12E3P) today announced a crucial agrrement with the operating oil company of the Sturgeon Lake Oilfield in Alberta. 

The Agreement covers water sampling at the wellhead and central collection points, and lays the groundwork for future cooperation between MGX and the operator of the Sturgeon Lake Oilfield: Canadian Natural Resources (NYSE: CNQ; Frankfurt: CRC, WKN: 865114). With a current market capitalization of $37 billion USD, this major oil and gas company already has significant infrastructure in place. MGX owns the Industrial and Metallic Mineral Permits over almost 133,000 hectares in Alberta, including large parts of the Sturgeon Lake Oilfield.

The agreement covers water sampling at the wellhead and central collection points and lays the groundwork for future cooperation between MGX and the operator. In mid-November, MGX reported to have completed by 50% its pilot processing plant, which should be near completion by now.

Sampled brine from the Sturgeon Lake Oilfield will be processed once the pilot plant is ready. With a capacity of 12,000 liters per day, the pilot plant can be upgraded (modular) to a commercial capacity of 1.2 million liters per day (in case the pilot plant proves successful). 

 


  

Company Details

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

Shares Issued & Outstanding: 55,011,508

Canadian Symbol (CSE): XMG
Current Price: $0.38 CAD (12/08/2016)
Market Capitalization: $21 million CAD

German Symbol / WKN (Frankfurt): 1MG / A12E3P
Current Price: €0.243 EUR (12/08/2016)
Market Capitalization: €14 million EUR

 


  

Previous Coverage

Research #12 "Game Changing Potential: MGX Minerals‘ Pilot Plant for Rapid Production of Lithium Nears Completion“

Research #11 "MGX assays 34 g/t gold from surface sampling in British Columbia“

Research #10 “Official: MGX owns magnesium worth multi-billions of dollars and starts pilot plant shortly“

Research #9 “One of the world‘s largest lithium resources on the horizon?“

Research #8 “Ready for significant lithium brine work in Alberta“

Research #7 “At the forefront of Alberta‘s lithium brine riches“

Research #6 “Pioneering Lithium in Alberta: MGX Minerals Teams Up“

Research #5 “Time to Put a Lithium Production Process in Place“

Research #4 “MGX Minerals Taps Into Canada‘s Potentially Largest High-Grade Lithium Resources“

Research #3 “MGX Minerals Receives Mining Lease for 20 years (in British Columbia!)“

Research #2 “MGX Minerals Accelerates Towards Production“

Research #1 “MGX Minerals Plans To Enter The Magnesium Market In 2016“

 


  

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Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist.

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COMPANY INFO
Name: MGX Minerals Inc.
Canada Symbol: XMG
Germany Symbol / WKN: 1MG / A12E3P
Shares Issued & Outstanding: 55,011,508
Phone: +1 604 681 7735
Email: jared@mgxminerals.com
Web: www.mgxminerals.com
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