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Highway 95 runs along the Monte Cristo Range and the Kibby Basin (in the background of the picture) towards Tesla’s Gigafactory near Sparks, Nevada. (Picture source: Diane Cook Len Jenshel Photography)

Today, MGX Minerals Inc. announced mobilization for drilling at the Kibby Basin Lithium Project in Nevada, USA. Its joint venture partner, Belmont Resources Inc., announced in a separate press-release that the first hole is anticipated to be drilled this Saturday (July 28) with a targeted depth of 760 m (2,500 ft), whereas brine is interpreted to be encountered starting at depths of 325 m (1,065 ft). 

The importance of a potential discovery by MGX and Belmont in Nevada, combined with MGX’s rapid lithium extraction technology, cannot be understated. The US needs new lithium production as lithium is on the list of strategic commodities deemed critical to economic and national security. MGX’s new way to extract lithium without solar evaporation would be all the more welcome as the US currently produces only about 4% of global lithium supply, all of it coming from Albemarle’s evaporation ponds at the Silver Peak Mine located 50 km south of Kibby Basin. 

While companies are fighting over water rights in the "overappropriated" Clayton Valley, Belmont has already filed for water rights at Kibby Basin. Another advantage for MGX/Belmont is that they control almost the entire Kibby Basin, making an entry for other companies all the more difficult, especially if drilling encounters lithium-rich brines. 

A previous geophysical survey at Kibby Basin indicated relatively low resistivity values comparable to some of the high-grade South American brine pools (water is not conductive but salty water, rich in lithium, is very conductive; see comparison with other lithium projects here). What makes the Kibby Basin so special is its potential size as geophysics identified an aquifer interpreted to be 6 km long and 3.5 km wide, including a thick (up to 1 km) zone of very low resistivity:

MGX intends to deploy its award-winning rapid lithium extraction technology at Kibby Basin in case a lithium reservoir can be discovered. For this reason, Belmont has agreed that MGX can earn up to 50% in the Kibby Basin Project by financing 2 deep drill holes for up to $600,000 CAD, whereafter MGX would become the operator. MGX has also been granted the right to acquire up to 18 million shares of Belmont to make a potential success all the more lucrative for MGX and its shareholders. According to Stockwatch.com, Belmont currently has a total of around 71 million shares issued. 

Yesterday, MGX announced that it has gone global with an acquisition in the Lithium Triangle at Salinas Grandes in Argentina (see here). LSC Lithium Corp. spent approximately $30 million CAD in producing a resource estimate just to the noth and contiguous to MGX at Salinas Grandes. 

MGX is on a mission to deploy its rapid lithium extraction technology right next to the world’s biggest lithium producers. With lithium and wastewater treatment projects in the heartland of Canada’s oil and gas patch currently being deployed at several sites, along with this new joint venture project in Nevada and yesterday’s acquisition in Argentina, MGX is expanding in a strategically meaningful fashion. Apparantly, MGX is ready, willing and able to make reality of its vision to become the leading technology provider, and operator, in some of most important lithium hubs around the globe. 


The award-winning lithium extraction technology from MGX and its engineering partner PurLucid is not only rapid but also modular, potentially making capital expenditures all the more attractive compared to the classic production method of solar evaporation.

Company Details


MGX Minerals Inc.
#303 - 1080 Howe Street
Vancouver, BC, Canada V6C 2T1
Phone: +1 604 681 7735 
Email: jared@mgxminerals.com
www.mgxminerals.com

Shares Issued & Outstanding: 122,655,926


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Canadian Symbol (CSE): XMG
Current Price: $0.89 CAD (07/25/2018)
Market Capitalization: $109 Million CAD


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German Symbol / WKN (Tradegate): 1MG / A12E3P
Current Price: €0.586 EUR (07/25/2018)
Market Capitalization: €72 Million EUR 

Previous Coverage

Report #67 “MGX Expands to Argentina, Home to One of the Largest and Richest Lithium Resources in the World“

Report #66 “MGX and Belmont Form Nevada Lithium Joint Venture at Kibby Basin“

Report #65 “MGX-Highbury Expand Work to Gasify Petcoke into a Synthetic Crude Oil Equivalent“

Report #64 “MGX Delivers Update on Commercial Deployment of its Wastewater Treatment and Lithium Extraction Systems“

Report #63 “MGX is Drilling for Solar Grade Silicon Metal in British Columbia“

Report #62 “MGX-ZincNyx Now Ready To Start Commercialization Of Battery Systems For Mass Storage Of Energy“

Report #61 “MGX Minerals Raises $15,5 Million in an Oversubscribed Financing to Speed Up Lithium and Advanced Material Projects“

Report #60 “Sneak Preview of Big Oil Entering the Business of Big Batteries“

Report #59 “MGX Wins Industry Leadership Award from S&P Global Platts“

Report #58 “MGX Nears Commercial Deployment of 4 Petrolithium and Water Treatment Systems in Alberta“

Report #57 “MGX Announces Quadrupling of Power Output of Zinc-Air Fuel Cell Battery“

Report #56 “MGX Sets The Record Date For Its First Dividend“

Report #55 “The First ZincNyx Energy Storage Plant to be Deployed in New York City“

Report #54 “MGX in Final Stages of Commercial Deployment, Second Petrolithium Contract Already in the Making“

Report #53 “MGX-Highbury Accomplish Almost Complete Gasification of Petcoke, Produce High-Grade Vanadium Concentrate“

Report #52 “MGX Set to Alter Lithium Landscape, Partners with Investment Bank Heavyweight Capstone Headwaters“

Report #51 “Congratulations! MGX Nominated in 2 Categories as a Finalist for the S&P Global Platts Metals Awards“

Report #50 “MGX Gets Serious About Magnesium, Engages Hatch for Magnesium Metal Scoping Study“

Report #49 “MGX to Acquire and Commercialize Clean Technology for Extraction of Lithium and Aluminum from Spodumene“

Report #48 “MGX Minerals Issues PEA for a World-Class Magnesium Project in British Columbia“

Report #47 “High-Grade Battery Metals From Dirty Petcoke“

Report #46 “Big Times Ahead For Several Joint Ventures from MGX Minerals“

Report #45 “MGX Partner Broadcasting on US Television“

Report #44 “The Big Rethinking Begins: Multiple Lithium Projects in Chile Test the Rapid Lithium Extraction Technology from MGX“

Report #43 “Global Lithium Dominance? MGX Doubles Performance of Lithium Extraction Filters“

Report #42 “Scores of Tail Winds for MGX becoming a Leader in the New Energy Economy“

Report #41 “MGX Goes Big, Develops Utility-Scale Battery Storage System“

Report #40 “Positioned to Profit from Transition to New Energy Economy“

Report #39 “MGX Assembles Dream Team For California Lithium Strategy“

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“

Technical Perspective


Updated Chart (15 min. delayed): http://schrts.co/vHgP4v

Company Details


Belmont Resources Inc.
Suite 600 - 625 Howe Street
Vancouver, BC, V6C2T6 Canada 
Phone: +1 604 683 6648
Email: gmusil@belmontresources.com
www.belmontresources.com

Shares Issued & Outstanding: 70,727,620


Chart

Canadian Symbol (TSX.V): BEA
Current Price: $0.075 CAD (07/25/2018)
Market Capitalization: $5.3 Million CAD


Chart

German Symbol / WKN (Frankfurt): L3L1 / A1JNZE 
Current Price: €0.055 EUR (07/25/2018)
Market Capitalization: €3.9 Million EUR 

Technical Perspective


Updated Chart (15 min. delayed): http://schrts.co/ZKqMH2 

Previous Coverage

Report #12: “MGX and Belmont Form Nevada Lithium Joint Venture at Kibby Basin” 

Report #11: “Ohm-m! The Divine Sounding of Resistivity” 

Report #10: “Belmont Resources (BEA.V): Cheapest US lithium play may just be what others promised” 

Report #9: “It‘s Time For Belmont To Shine In Nevada” 

Report #8: “Bingo! Belmont finds striking drill targets for lithium brine deposits at Kibby Basin in Nevada” 

Report #7: “The Missing Puzzle Piece to Discover Lithium Aquifers in the Kibby Basin of Nevada?” 

Report #6: “Belmont on track to eclipse the Clayton Valley” 

Report #5: “Belmont getting ready to drill for untapped lithium brines at Kibby Basin in Nevada” 

Report #4: “The perfect lithium basin?”

Report #3: “Prominent gravity low identified on Kibby Basin Lithium Brine Property in Nevada” 

Report #2: “Dark clouds over Clayton Valley and green lights for Belmonts Kibby Basin Project” 

Report #1: “Early Report on Belmont Resources”

Cover Picture Source Disclaimer: This report 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. Rockstone Research and MGX Minerals Inc. cautions investors that any forward-looking information provided herein 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 MGX´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the MGX´s profile on SEDAR at www.sedar.comPlease read the full disclaimers for both featured companies within the full research reports as a PDF (here and here) as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in MGX Minerals Inc. and Belmont Resources Inc. and is being paid a monthly retainer from Zimtu Capital Corp., which company also holds a long position in MGX Minerals Inc. and Belmont Resources Inc.

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COMPANY INFO
Name: MGX Minerals Inc.
Canada Symbol: XMG
Germany Symbol / WKN: 1MG / A12E3P
Shares Issued & Outstanding: 122,655,926
Phone: +1 604 681 7735
Email: jared@mgxminerals.com
Web: www.mgxminerals.com
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