11:19:26 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



MGX Minerals Inc
Symbol XMG
Shares Issued 122,655,926
Close 2018-08-07 C$ 0.79
Market Cap C$ 96,898,182
Recent Sedar Documents

MGX Minerals increases interest in PurLucid to 55%

2018-08-07 07:46 ET - News Release

Mr. Jared Lazerson reports

MGX MINERALS INCREASES OWNERSHIP IN LITHIUM AND CLEANTECH PARTNER PURLUCID TREATMENT SOLUTIONS; PROVIDES FIRST PLANT DEPLOYMENT UPDATE

MGX Minerals Inc. has increased its ownership in engineering partner PurLucid Treatment Solutions to 55 per cent with the investment of $2.6-million.

NFLi-5 plant deployment update

Site preparation and integration engineering of the first waste water and lithium extraction system are near completion. The system is being installed at a steam-assisted gravity drainage (SAGD) operation in the Alberta oil sands to treat heavy oil evaporator blowdown waste water. The system will take highly concentrated evaporator brine and treat it to a level suitable for lithium extraction and reinjection on site. Mineral levels are elevated as a result of the evaporator brine concentration process. The plant eliminates high cost water disposal, vastly decreases trucking volumes and provides diversification into renewable energy commodities.

The system utilizes a highly charged replaceable skin layer (RSL) membrane related to the nanofiltration and high intensity froth flotation (HiFF) system, known as nanoflotation, which collectively has demonstrated performance superiority over other processes typically used to remove contaminants. The technology allows ultrahigh-temperature water treatment (up to 500 C) at 10 to 30 times the efficiency of existing ultrafiltration systems and offers numerous environmental benefits, including contaminant removal, mineral recovery, reduced energy demand, smaller footprints and lower capital costs.

Government grants

PurLucid has been awarded a non-repayable contribution totalling up to $8.2-million in government funding to support the commercialization of a low energy water treatment system for the oil and gas industry (see press release dated Nov. 6, 2017). The first plant for this project has recently arrived at the PurLucid manufacturing facility in Calgary, Alta., and is currently being commissioned. This plant will be deployed to a second and separate oil sands facility from the current deployment under way representing a second oil sands partner and project. PurLucid will fabricate and deploy additional commercial-scale units within an operating steam-assisted gravity drainage (SAGD) facility as part of a three unit staged scale-up. The units have respective capacities of 10-cubic-metre, five-cubic-metre high-pressure and 35 cubic metres for total combined capacity of 50 cubic metres per hour or 1,200 cubic metres per day (about 7,500 barrels per day) of processing.

The contracted operation will generate revenue based on a per-cubic-metre environmental processing fee that is approximately 50-per-cent-lower cost than current disposal costs (deep salt cavern or equivalent). One of these systems is part of a larger study involving an industry-wide consortium that will evaluate the success of the technology and provide expedited access to heavy oil facilities and shale oil projects throughout Alberta. Combined with substantive cash and technical support from both the governments of Alberta and Canada, these installations provide the next stage in accelerating adoption throughout Canada and globally in oil and gas, mining, and other industrial applications.

About PurLucid

PurLucid's exclusively licensed and patented nanoflotation technology was designed specifically for oil field environments. The technology separates impurities from oil and gas waste water and produces clean water as a final product. This allows for the recycling or controlled release of oil field waste water and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oil field and oil sands operations today.

About MGX Minerals Inc.

MGX Minerals is a diversified Canadian resource company with interests in advanced material and energy assets throughout North America.

We seek Safe Harbor.

© 2024 Canjex Publishing Ltd. All rights reserved.