Diversified resource and technology company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) this morning announced that the adsorption rate of its lithium extraction nanofiltration process has been increased from 20mg/g (milligram of lithium per gram of adsorption reagent) to an optimized rate of 40mg/g. Per the update, this reflects a significant cost-cutting breakthrough, as reagents account for the single largest cost in the company’s lithium extraction process. In addition to reducing reagent use and the direct cost of lithium chloride recovery from brine, reagent depletion in the lithium nanofilter has now been reduced to less than one percent per cycle, effectively increasing the operating time and associated recovery for the lithium nanofilter prior to requiring recoating with the reagent. Additionally, MGX this morning reported that its first 1,200 cubic meter plant is currently in its final design phase, with work being completed by engineering partner PurLucid Treatment Solutions. Fabrication is expected to commence shortly and be completed by summer of 2018.
To view the full press release, visit http://ibn.fm/NaNF2
Let us hear your thoughts: MGX Minerals Inc. Message Board
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in lithium, magnesium and silicon assets throughout North America. MGX currently owns 34% of PurLucid and has the exclusive right to acquire a 100% interest as well as owning the global rights to recently developed lithium and mineral extraction technologies co-operatively developed by PurLucid and MGX. Learn more at www.mgxminerals.com
QualityStocksNewsBreaks provide a rapid summary of corporate news that catch the attention of QualityStocks. QualityStocksBreaks are designed to keep investors up to date on important and breaking news in the small-cap and micro-cap markets. Spanning all industries, including energy, entertainment, telecommunications, healthcare, retail and more, these news breaks deliver opportunities the investment community may have missed. Whether it is earnings results, mergers and acquisitions, or any other market-moving news, our news breaks keep you in the know. QualityStocks is committed to connecting subscribers with companies that have huge potential to succeed in the short and long-term future. It is part of our mission statement to help the investment community discover emerging companies that offer excellent growth potential.