(TheNewswire)
VANCOUVER – TheNewswire - June 9, 2022 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE:XMG)(FKT:1MG) (CNSX:XMG.CN) (OTC:MGXMF) announces the Company has been in contact with MajorStakeholders and formal discussions will commence in the2 nd half of June regarding a silicon metalprocessing site in proximity to its Kootenay silicon properties. MGX is currently seeking a site with aminimum of 12MW of power, which would be sufficient to power a 15tonne per day silicon metal furnace. The current price of 3303#grade silicon metal, is $3,036USD per tonne Fujian China (metals.com).This grade is a primary feedstock for solar silicon and siliconcarbide steel.
Driftwood MagnesiumPlant
The Company has begun the quotation process for the acquisition ofmagnesium metal processing equipment. A confidential prior study byHatch Consulting (Canada) for MGX, identified a potentially profitableprice of magnesium metal based on prior exploration and engineeringwork at its Driftwood Magnesium deposit. Recently, magnesium metal hasentered this range. As a result, the Company has issued a requestfor quotation for up to 16,000 tonnes Mg metal processing equipmentand expects an understanding of capital requirementsshortly.
SolarPanels
MGX is reviewing solar panel component construction as part its Mine to market (“M2M”) strategy.
Return toTrade
The Company has completed its 2021 annual financials, is finalizingaudit items, and has begun preparing Q1 and Q2 2022 unauditedfinancial statements. The Company will continue to provideupdates.
About MGX Minerals
MGX Minerals is a diversified Canadian resource andtechnology company with interests in advanced metals.
ContactInformation:
Andris Kikauka
Chief Executive Officer
604 373 8565
Forward-LookingStatements
This press release containsforward-looking information or forward-looking statements(collectively, "forward-looking information") within themeaning of applicable securities laws. All statements, other thanstatements of historical fact, included herein are forward ? looking information.Forward-looking information in this press release include, but are notlimited to, statements with respect to holding the postponed Meeting,and the filing of an amended notice of meeting and record date for thepostponed Meeting. Forward-looking information is generally, but notalways, identified by the words "expects","plans", "anticipates", "in the event","if", "believes", "asserts","position", "intends", "envisages","assumes", "recommends", "estimates","approximate", "projects", "potential","indicate" and similar expressions, or that events orconditions "will", "would", "may","could" or "should" occur.
The Company’s forward-lookinginformation are based on the applicable assumptions and factors theCompany considers reasonable as of the date hereof, based on theinformation available to the Company at such time, including withoutlimitation, the ability to host the postponed Meeting at a later date,and the ability to find a suitable location which can accommodate anin-person shareholders’ meeting. The Company cautions investors thatany forward-looking information provided by the Company is not aguarantee of future results or performance, and that actual resultsmay differ materially from those in forward-looking information as aresult of various risk factors. These factors include, among others,uncertainties arising from the COVID-19 pandemic, and general economicconditions or conditions in the financial markets. The reader isreferred to the Company's public filings for a more completediscussion of such risk factors, and their potential effects, whichmay be accessed through the Company's profile on SEDAR at www.sedar.com . Except as required by securities law,the Company does not intend, and does not assume any obligation, toupdate or revise any forward-looking information, whether as a resultof new information, events or otherwise.
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