Geothermal activity at the Lassen Volcanic National Park in California.
Today, MGX Minerals Inc. appointed Randall W. Keller as Vice President of Business Development, who previously worked as Director of Business Development, Transmission & Land Assets for Berkshire Hathaway Energy Renewables, a company controlled by American multinational conglomerate holding company Berkshire Hathaway Inc. and known for its leadership by Warren Buffett.
Mr. Keller strengthens MGX´s leadership team to execute its new California lithium strategy. He will now work alongside former California Senate Majority Leader Richard Polanco to target geothermal lithium exploration in California and other Western States that MGX has identified for potential partnerships and acquisition targets to secure lithium brine feedstock and operating sites for its lithium extraction and water treatment systems.
Mr. Keller is a highly accomplished executive with over 35 years of global experience in the energy sector. At Berkshire, Mr. Keller was responsible for the development of large-scale renewable energy projects within the Berkshire holdings platform in southern California and managed a large team of engineers, geologists, chemists and scientists, overseeing budgets in excess of $1 billion. Previously, Mr. Keller held executive leadership roles at Charah Inc. where he oversaw heavy civil construction services and transportation logistics for the electric utility industry. Prior to that he owned and operated Kelcorp Construction Company for 15 years, where he was responsible for heavy civil utility infrastructure buildout projects, working with both the Government and private sector clients.
MGX President Jared Lazerson commented today:
“We welcome Randy Keller to the MGX team and look forward to utilizing his deep industry experience as we target additional acquisition and strategic partnerships throughout California. We continue to build our U.S. leadership team and more specifically our California-focused team as we believe the State offers a multitude of opportunities to implement lithium extraction and water purification systems.”
Geothermal activity at the Lassen Volcanic National Park in California.
According to NewsUSA:
"Warren Buffet has identified energy deregulation as the next big financial opportunity to reverberate around the country. Similarly, former GE Chairman Jack Welch described deregulation as "the next biggest thing since the Internet." It is estimated that by 2020, all 50 states will have some form of deregulated energy. State monopolies controlling energy prices and supply will cease, giving consumers a choice about who provides their electricity.
Estimates show that deregulation has created a $500 billion industry, and Warren Buffet has been reported to say that he expects it to be the largest transfer of wealth in history. While this creates room for savings for residential and commercial customers, it also means a potential windfall for investors. Where Buffet leads, the savvy soon follow... Who doesn´t love a model like that? Wall Street does. Today, 14 states have deregulated power, and more are following suit. California ... is already on the fast track."
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Yesterday, it was announced that MGX has been selected as the Exclusive Digital Sponsor of the World Economic Forum 2018. This globally recognized and lauded event will be taking place January 23 - January 26, 2018 in Davos-Klosters, Switzerland. By “Fueling Tomorrow’s Energy Economy, Today”, MGX Minerals’ mission speaks to one of the most impactful System Initiatives this year; Shaping the Future of Energy. And with this year’s overall theme of ‘Creating a Shared Future in a Fractured World’, the synergy with MGX couldn’t be more apropos. Through determination, innovation, and disruptive acquisitions, MGX Minerals ensures economic prosperity, environmental stewardship and social responsibility for all stakeholders involved. With more than 800,000 hectares across North America in prospective lithium, magnesium, and other elements, MGX is seeking to expand its portfolio of projects to the lithium triangle while testing new technologies to process brines. One hundred times faster than traditional methods, and at low cost, their patented lithium extraction technology replaces solar evaporation. “With strong leadership, qualified personnel, and continuous innovations, the possibilities for our sustainable future are endless”, says MGX President and CEO Jared Lazerson. Tune in for coverage of the World Economic Forum Annual Meeting exclusively on Fox Business with digital sponsorship by MGX Minerals.
Full Steam Ahead: MGX Engages Senator Polanco (Ret.) to Head California Lithium Brine Strategy
The world‘s largest producer of geothermal electricity is California, where possibly the greatest geothermal resources of the world are located. (Source)
In early December, MGX has retained former California Senate Majority Leader Richard Polanco as an advisor and consultant to the company.
Mr. Polanco will lead direct negotiations with the State of California and local municipalities regarding targeted exploration locations and sites identified by MGX as potential partnerships and acquisition targets to secure feedstock and operating sites. These sites will utilize the MGX‘s patented rapid recovery process to concentrate lithium and other minerals and metals from brine. He will also advise MGX on local environmental solutions and support ongoing community and stakeholder relations. Mr. Polanco commented:
“MGX is changing the way we look at the energy industry and the environment. I feel the Company is poised for growth by combining cleantech and mineral extraction to extract lithium and produce a clean water byproduct using low energy nano-filtration. I am excited to join the Company and work alongside their accomplished team as they expand into California.”
Mr. Polanco is a former California State Assembly Member and Senator, having been first elected in 1986. He served in the State Assembly for eight years and in 1994 was elected to the State Senate where he served as Senate Majority Leader from 1998 until his retirement in 2002. Prior to elected office, Mr. Polanco also served on the staff of Los Angeles County Supervisor Ed Edelman, Assemblyman Richard Alatorre and former Governor Jerry Brown.
As MGX nears deployment of its first 1,000 barrel/day NFLi-5 Commercial System, California´s geothermal brines appear to hold tremendous promise for dual markets of mineral extraction and water treatment. The possibility that these systems will actually have a net positive environmental benefit, by cleaning the water, is a new concept of industrial processes that have a net benefit to the environment. MGX is uniquely positioned with a striking vision of the future that brings industry and environment into balance.
California is known for its large geothermal resources and many geothermal power plants. According to Energy.com, there were 43 geothermal power plants in operation in California last year.
"The geothermal fields near the Salton Sea are the hottest, most prolific resource in the U.S. ... One technical challenge that has been turned into an asset is that the region’s geothermal fluid is approximately 75% water and 25% dissolved solids which contain significant amounts of valuable minerals including lithium, manganese and zinc. One enormous potential side project under exploration is the capture and reuse of the minerals which are important to battery and energy storage technology. Finally, the remaining fluid, about 80% of the original volume, is sent back into the ground, again using natural pressures in the loop." (Source: "Geothermal: The Other California Renewable")
"Currently the U.S. is leading the way in the Geothermal industry, generating 2,850 MW of power. 2,500 MW of this is from California, which is the state with the greatest geothermal resources. Overall, the west of America has far more potential geothermal sites than the east. Globally, Geothermal energy is used for direct heat at a scale of 12,000 MW. Combined with electrical generation it accounts for 0.15% of the world´s energy production. The U.S. potential with current technology is for 6,000 MW, however this could be increased to 20,000 MW with technological improvements." (Source)
MGX to Target Geothermal Market for Extraction of Lithium and Gold
New Technological Breakthrough to Disrupt the Geothermal Industry
In late November, MGX Minerals Inc. made a striking announcement of having solved another major energy problem globally. Together with its technology partner PurLucid Treatment Solutions Inc. they have developed a novel filtration technology for the purification of geothermal brines and the associated extraction of minerals and metals, including lithium, magnesium and gold.
Most importantly, MGX and Purlucid have developed an environmentally friendly, proprietary, low energy, low cost process for ultra-high temperature geothermal brines. This technological breakthrough will open doors globally to the geothermal sector, or as MGX President & CEO Jared Lazerson commented in today´s landmark press-release: “We believe in investing in technology and innovative processes that disrupt how the energy industry thinks and operates. Our newest technological advancement offers yet another first-mover opportunity into a large and often stagnant sector hungry for new ideas.”
Read the rest of the article here.
MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735
Shares Issued & Outstanding: 93,509,760
Canadian Symbol (CSE): XMG
Current Price: $1.84 CAD (01/22/2018)
Market Capitalization: $172 Million CAD
German Symbol / WKN (Tradegate): 1MG / A12E3P
Current Price: €1.203 EUR (01/22/2018)
Market Capitalization: €113 Million EUR
Report #38 “MGX: The Next GreenTech Energy Giant“
Report #37 “MGX Partners with Highbury Energy to make Petroleum Coke more Clean“
Report #36 “Technological Breakthrough in the Mass Energy Storage Industry“
Report #35 “Eureka! MGX Starts Developing Silica Projects after Acquisition of Mass Storage Battery Technology“
Report #34 “MGX Going Big on Petrolithium: The first large-scale integrated petroleum and lithium project ever developed“
Report #33 “Driving into the Realms of Tesla & Co: MGX Acquires Mass Storage Battery Technology from Teck Resources“
Report #32 “Backed by Private and Institutional Heavyweights: MGX cashes up for Lithium Extraction and Exploration“
Report #31 “MGX Revolutionizes the Lithium World - Commissions First Rapid Lithium Extraction System“
Report #30 “Full Steam Ahead: MGX Engages Senator Polanco (Ret.) to Head California Lithium Brine Strategy“
Report #29 “MGX to Target Geothermal Market for Extraction of Lithium and Gold“
Report #28 “MGX Minerals Commences Development of the World‘s First Petrolithium Field“
Report #27 “Canadian Government Backs MGX Minerals‘ Petrolithium Cleantech“
Report #26 “MGX Minerals Solves the Magnesium Problem of the Lithium Industry“
Report #25 “Hard-Rock Lithium Exposure for MGX“
Report #24 “One of the Largest Initial Oil Estimates in US History“
Report #23 “MGX starts Petrolithium pilot plant to deliver hard facts for strategic partners“
Report #22 “Time to bet: Sprott takes a position in MGX“
Report #21 “Petrolithium: First Come First Served“
Report #20 “Successful Independent Verification of the MGX Lithium Extraction Technology“
Report #19 “MGX to Drill the World‘s First PetroLithium Well in Utah“
Report #18 “MGX Reports Upgrading of Lithium Brine from 67 to 1600 ppm Lithium“
Report #17 “MGX technology nominated for prestigious Katerva Award, the Nobel Prize of Sustainability“
Report #16 “Unconventional oil play legend Marc Bruner to take MGX and PetroLithium to the next level“
Report #15 “Total Conviction: MGX forms PetroLithium Corp. to expand into the US oilfield brine markets“
Report #14: “MGX Extracts Lithium from Oil Wastewater - Begins Monumental Integration with Big Oil“
Report #13 "MGX Partners with Oil Major on Lithium Brine, New Energy Industry Facing Fundamental Shift“
Report #12 "Game Changing Potential: MGX Minerals‘ Pilot Plant for Rapid Production of Lithium Nears Completion“
Report #11 "MGX assays 34 g/t gold from surface sampling in British Columbia“
Report #10 “Official: MGX owns magnesium worth multi-billions of dollars and starts pilot plant shortly“
Report #9 “One of the world‘s largest lithium resources on the horizon?“
Report #8 “Ready for significant lithium brine work in Alberta“
Report #7 “At the forefront of Alberta‘s lithium brine riches“
Report #6 “Pioneering Lithium in Alberta: MGX Minerals Teams Up“
Report #5 “Time to Put a Lithium Production Process in Place“
Report #4 “MGX Minerals Taps Into Canada‘s Potentially Largest High-Grade Lithium Resources“
Report #3 “MGX Minerals Receives Mining Lease for 20 years (in British Columbia!)“
Report #2 “MGX Minerals Accelerates Towards Production“
Report #1 “MGX Minerals Plans To Enter The Magnesium Market“
Disclaimer: Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. The author hold a long position in MGX Minerals Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc.