My readers know that I have been reporting on MGX Minerals (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) for 3 years . The stock price has been acting a little bipolar but trading a lot higher from the first time I initiated coverage. Kudos goes to visionary president Jared Lazerson who has been working diligently with partner PurLucid Treatment Solutions (among other partners and ventures), to put in place a lithium and petrolithium extraction and water treatment system.
When I heard that MGX and Purlucid will be demonstrating the unit I almost flew off my chair with excitement.
I greeted the news with “hallelujah”.
I will be at the event in Calgary Alberta with my questions ready for the Purlucid team. I’m prepped to see this unit in action.
As taken from the news release dated May 31, 2018, “MGX Minerals and partner Purlucid Treatment Solutions are pleased to report that, prior to deployment, demonstration of the NFLi-5 commercial-scale rapid lithium extraction system, capable of processing 750 barrels per day (120 cubic meters), is scheduled to take place immediately with oil and gas companies, industrial customers, lithium brine owners and international media scheduled to view the system. Demonstration of the lithium and petrolithium extraction and water treatment system will take place in the first half of June at the PurLucid manufacturing facility in Calgary, Alberta.
In addition to the NFLi-5 system, MGX and PurLucid have fabricated three customized wastewater treatment systems unique to each client / partner’s needs and all capable of lithium, minerals, slop oil and heavy metals separation. The first system, which is scheduled for deployment to an oil and gas operation in Alberta, is an evaporator blowdown wastewater treatment system (10 m3/hr) which will take highly concentrated evaporator brine and treat it to a level suitable for reinjection on site. The second system, which represents a contract between a consortium of partners, is a high temperature system that will be installed to treat produced water following oil-water separation. The third system is a larger-scale version (35 m3/h) of the first system intended for deployment to treat one-through steam generator (“OTSG”) boiler blowdown.”
Understandably, investors have been waiting with baited breath for a successful deployment of this unit and for concrete contracts.
Taken from news release:
PurLucid water treatment technologies, which purify wastewater brine, have been integrated with a newly developed lithium recovery process. Combined, this Cleantech process reduces the capital cost of recovery compared to traditional solar evaporation as it does not require the investment in large, multi-phase, lake sized, lined evaporation ponds, greatly reducing the physical footprint and enhancing the quality of extraction and recovery across a complex range of brines previously considered un-processable due to complexity or geographical location outside of solar evaporation appropriate zones. This includes oil and gas wastewater, natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. MGX holds the global rights to the jointly developed lithium extraction technology while PurLucid retains the rights to the pre-treatment water purification and core technology.
The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards, held in London earlier this month (see press release dated May 18, 2018). Hosted by S&P Global Platts, a leading global energy, metals and commodities information provider, the annual awards program honored exemplary performance in fifteen categories spanning the entire steel, metals and mining complex.
Stay Tuned and Happy Investing!
Dr. Kal Kotecha
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