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Sector:  Mining, Energy, Industrial, Transportation   :

 

News Release - May 18, 2018 4:37 PM ET 

 

 

MGX Minerals Wins 2018 S&P Global Platts Metals Leadership Award -Base & Specialty Metals for Rapid Lithium Extraction Technology

 

NEW YORK, NY, May 18,  2018 /Sector Newswire/ -- MGX Minerals Inc. (CSE: XMG) (OTCQB: MGXMF) is a Canadian-based mining and clean technology processing company focused on accelerating emerging energy and energy commodity technologies that disrupt the status quo. So impressive is MGX Mineral's rapid lithium extraction technology the Company is the winner of the prestigious 2018 S&P Global Platts Metals Leadership Award -Base & Specialty Metals;

 

Excerpt of May 18 news release from MGX:

 

MGX Minerals Wins 2018 S&P Global Platts Metals Leadership Award -Base & Specialty Metals for Rapid Lithium Extraction Technology

MGX President and CEO Jared Lazerson accepting award

 

VANCOUVER, British Columbia, May 18, 2018 (GLOBE NEWSWIRE) -- MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG) (FKT:1MG) (OTCQB:MGXMF) is pleased to announce the Company has won the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London on May 17. Hosted by S&P Global Platts, a leading global energy, metals and commodities information provider, the annual awards program honors exemplary performance in fifteen categories spanning the entire steel, metals and mining complex.

Technology played an increasingly pivotal role for this slate of winners, and sustainability emerged throughout the value chain, with environment and efficiencies top of mind,” said Martin Fraenkel, president of S&P Global Platts. “We congratulate MGX Minerals for its impressive win in the 2018 S&P Global Platts Metals Awards.

Metals and steel industry executives from around the globe attended the 2018 black-tie awards ceremony at the Marriott Grosvenor Square in central London. Winners in fifteen performance categories received honors on stage, having been selected by an independent panel of judges. For the full list of 2018 S&P Global Platts Global Metals Awards winners, including the judges’ rationale, visit the Platts Global Metals Awards website.

About S&P Global Platts
At S&P Global Platts, we provide the insights; you make better informed trading and business decisions with confidence. We’re the leading independent provider of information and benchmark prices for the commodities and energy markets. Customers in over 150 countries look to our expertise in news, pricing and analytics to deliver greater transparency and efficiency to markets. S&P Global Platts coverage includes oil and gas, power, petrochemicals, metals, agriculture and shipping. S&P Global Platts is a division of S&P Global (NYSE:SPGI), which provides essential intelligence for individuals, companies and governments to make decisions with confidence. For more information, visit www.platts.com.

About MGX Minerals
MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America. Learn more at www.mgxminerals.com.

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.

Forward-Looking Statements
This press release 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. The Company cautions investors that any forward-looking information provided by the Company 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 Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.

A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/1b52bb17-7bdf-4c33-b593-fff3cc303892

Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com

.

 ...click here for full copy from source

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Excerpt from recent technology journal article:

 

MGX Minerals is multi-faceted, advancing several projects with potential to increase shareholder value;

 

1) Lithium Brine Processing Technology: The Company's flagship is its focus on commercializing new brine processing technology that gives the Company a significant advantage in the marketplace having solved the problem of magnesium (Mg) in lithium (Li) laden brine, able to deal with very complex/dirty brines. Up until now rich complex Li brine projects with high Mg:Li ratios have been passed over as technology did not exist to economically separate the two. MGX's proprietary/patented technology now positions scores of complex lithium brine projects (previously untouchable) across the globe ripe for production, with better economics than solar evaporation. MGX Minerals Inc. is also positioned technology-wise to commercially exploit the mineral rich brine that is a residual by product of geothermal power generation. MGX is looking to bring its first integrated wastewater treatment and lithium recovery system online shortly with a major oil and gas operator in Alberta. A second scheduled deployment of three systems will treat evaporator blowdown wastewater (“EBD”) for a consortium, of the 3 systems the 3rd is a larger-scale version (35 m3/h) of the first and is intended for deployment to treat one-through steam generator (“OTSG”) boiler blowdown (see related May 16, 2018  press release "MGX Minerals and Engineering Partner PurLucid Nearing Commissioning of Oilfield Lithium Recovery and Wastewater Treatment Systems").

Video: MGX's Mass Energy Storage Zinc-Air Battery Solutions (2 min.15 sec.)

 

2) Mass Energy Storage Zinc-Air Battery: MGX Minerals is quickly positioning itself as a leader in mass energy storage solutions with tech that is cost-effective, easily scalable, and eliminates all short-term energy downtime. The Company has announced its intent to spin-out this division into a standalone publicly traded entity and issue a dividend to each of MGX Minerals Inc. shareholders of record (record date June 29, 2018). MGX is advancing innovative modular energy storage batteries through proprietary (100%-owned) patented zinc-air technology through its wholly owned subsidiary ZincNyx Energy Solutions Inc., a private company acquired from the mining giant Teck Resources in December 2017. Think Tesla's Powerwall and Powerpack but without lithium, powerful, quick charging, and low cost; this innovative regenerative zinc-air flow battery technology is designed for energy storage in the 5 kW to 1 MW range for extended periods of time. The tech allows for low cost mass storage of energy, and can be deployed into a wide range of applications, including utility-scale storage and power grid load stabilization, long term backup power for industrial, commercial, and military facilities, remote location off grid and micro grid applications, and diesel generator replacement or hybridization. Since the ZincNyx system uses zinc dendrites as fuel and consumes them as part of its normal operation, it is immune to the growth of zinc dendrites which have traditionally plagued zinc-air flow batteries (see related Jan. 9, 2018 news "MGX Minerals Announces Major Advancement in Mass Storage Battery Technology; Solves Zinc Dendrite Formation Limitation") -- A MAJOR BREAKTHROUGH WHICH PAVES A PATHWAY TO NEAR-TERM COMMERCIALIZATION; ZincNyx has begun the commercial development for the mass production of its scalable 20kWh capacity zinc-air mass storage battery (See related January 30, 2018 news "MGX Minerals Commences Development of Next Generation Zinc Air Mass Storage System"). Unlike conventional batteries, which have a fixed energy/power ratio, ZincNyx’s technology uses a fuel tank system that offers flexible energy/power ratios and scalability.  The storage capacity is directly tied to the size of the fuel tank and quantity of charged zinc fuel making scalability a major advantage of the flow battery system.  In addition, further major advantage of the zinc-air flow battery is the ability to charge and discharge simultaneously and at different maximum charge or discharge rates as each of the charge and discharge circuits is separate and independent.  Other types of standard and flow batteries are limited to a maximum charge and discharge by the total number of cells as there is no separation of the charge, discharge and size of the fuel storage system (see overview of MGX Minerals' modular energy storage zinc-air battery further below).

 

On April 18, 2018 MGX Minerals' subsidiary ZincNyx Energy Solutions entered into a Partnership Agreement with Digital Energy Corporation to deploy Zinc-Air Fuel Cell Technology in New York City. ZincNyx President and CEO Suresh Singh. Digital’s years of experience with system integration and energy generation will greatly enhance our ability to deploy energy storage solutions throughout the United States. The project will demonstrate ZincNyx’s patented zinc-air flow-battery technology in combination with an onsite co-generation plant to reduce cost and increase revenue through multiple value streams, including peak shaving, demand response and economic dispatch. The ZincNyx flow battery chosen for this project employs a unique zinc-air chemistry that is safe for use in densely populated areas. The project will identify the operational and regulatory requirements to be satisfied for deployment in the state of New York. Digital’s choice, amongst many high capacity batteries, is the zinc-air system that has long been recognized as highly advantageous due to its inherent safety, high energy density and abundance of its raw materials. The other unique advantages of the ZincNyx system, such as the ability to simultaneously charge and discharge, flexibility to optimize power and energy needs, low cost of energy for long durations and modularity, further simplified the decision.

 

A key difference between the Tesla Powerwall versus MGX's ZincNyx Fuel Cell Battery is the ZincNyx storage capacity is much larger; in order to increase storage simply increase the size of the fuel tank and add more fuel (zinc in this case). To increase storage of a Tesla battery you have to add both output and storage capacity. This decoupling of output power and storage is key and makes the ZincNyx system much cheaper in terms of storage capacity. On May 14, 2018 the Company announced ZincNyx has quadrupled the output capacity of its zinc fuel cell modules/stacks.

 

MGX Minerals is targeting mid-2019 for large scale manufacturing of its ZincNyx Fuel Cell Battery and already has manufacturing partners in place.

 

3) Industrial Minerals Project, in Invermere, BC, Canada: The Driftwood Property contains a valuable magnesium deposit, a major asset of the Company. On March 6, 2018 MGX announced a Positive PEA for its Driftwood Creek Magnesium; Pre-Tax NPV of C$529.8 Million and 24.5% IRR. Assuming a sales price of $779 ($600 USD) per tonne for Dead Burn Magnesium (DBM) oxide with All-in Sustaining Production Costs at $351/t, the PEA calculates an impressive Pre-Tax NPV (at 5%) of nearly $530 million, resulting in a very respectable IRR of 24.5% with a quick 3.5 year paypack period. With a processing capacity of 1,200 t/day, the annual production is estimated at 169,700 t of magnesium oxide (MgO). During the 19 year mine life, the payable metal production totals around 3.1 million t of MgO, which translates into around $1.1 billion of Pre-Tax Cash Flows (on average $72.6 million of Pre-Tax Cash Flow per year).
 

These robust numbers are realizable for just $236 million of initial capital costs and would make MGX a rare breed of low-cost producers globally enjoying high operational margins in a safe and stable jurisdiction. Total LOM ("Life Of Mine") capital expenditures amount to only $240 million and include $3.9 million for closure costs and a contingency of $40 million. The highly lucrative and robust PEA is based on a high-grade (43% MgO) and large (7.8 million t) mineable resource at surface, resulting in high recoveries (90% on average) with conventional processing (crushing, grinding, flotation upgrading, calcination, and sintering to produce a saleable DBM product). The DBM product will be bagged and transported to market for sale as a powder with a purity of 94.6% MgO. The quarry-style mine would benefit greatly of not being located within a known environmental protection area. MGX Minerals has engaged Hatch Ltd. for magnesium metal study at Driftwood Creek which is expected to further increase the economics of the project.

 

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We have identified the following additional research links for further DD on MGX Minerals Inc.

 

  

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SOURCE: Sector Newswire editorial

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