ZURICH, SWITZERLAND / ACCESSWIRE / February 7, 2019 / Today, MGX Minerals Inc. (CSE: XMG); (OTCQB: MGXMF); (Frankfurt: 1MG) reported that a second deployment of an advanced wastewater treatment system is near completion and commissioning is expected shortly. The system has a capacity of 10 m3/hour and thus is twice as big as the first system which started commercial operations in late 2018.
This now marks another major milestone for the company and represents "a paradigm shift advancement in waste water management and oilsands operations" as the company noted today. The technology can significantly reduce greenhouse gases through energy savings, providing superior treatment outcomes when compared to conventional methods, which require offsite trucking and high-cost disposal of the highly toxic wastewaters. The new technology developed by MGX/PurLucid can treat such production wastewaters in line at the production site, under high temperature and pressure, without cooling it first. The result is significantly less energy use, reduction in greenhouse gases and also the elimination of heat exchanger fouling, a major operational challenge of a SAGD (Steam Assisted Gravity Drainage) facility.
MGX today also announced that a third system is being finalized. With a capacity of 10 m3/hour, this system will also extract lithium from brine after the wastewater has been cleaned of oil and bitumen. Commencement of lithium extraction will occur as this customer comes online.
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Disclaimer: This report containsforward-looking information or forward-looking statements (collectively"forward-looking information") within the meaning of applicablesecurities laws. Forward-looking information is typically identified by wordssuch as: "believe", "expect", "anticipate","intend", "estimate", "potentially" and similarexpressions, or are those, which, by their nature, refer to future events.Rockstone Research and MGX Minerals Inc. cautions investors that anyforward-looking information provided herein is not a guarantee of futureresults or performance, and that actual results may differ materially fromthose in forward-looking information as a result of various factors. The readeris referred to the MGX´s public filings for a more complete discussion of suchrisk factors and their potential effects which may be accessed through theMGX´s profile on SEDAR at www.sedar.com. Cautionary Statement: MGX MineralsInc. (“MGX“) may decide to advance its petrolithium projects into productionwithout first establishing mineral resources supported by an independenttechnical report or completing a feasibility study. A production decisionwithout the benefit of a technical report independently establishing mineralresources or reserves and any feasibility study demonstrating economic andtechnical viability creates increased uncertainty and heightens economic andtechnical risks of failure. Historically, such projects have a much higher riskof economic or technical failure. Please read the full disclaimer within thefull research report as a PDF as fundamental risks and conflicts of interestexist. MGX Minerals Inc. has paid Zimtu Capital Corp. to provide this reportand other investor awareness services.The author, Stephan Bogner, holds a longposition in MGX Minerals Inc. and is being paid by Zimtu Capital Corp. for thepreparation and distribution of this report, whereas Zimtu Capital Corp. alsoholds a long position in MGX Minerals Inc.
SOURCE: Rockstone Research