MGX Minerals to Process First Oil & Gas Wastewater in November; Projects First Cleantech Revenue
VANCOUVER, Oct. 30, 2018 - MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / OTCQB: MGXMF / FSE: 1MG) is pleased to report that engineering partner PurLucid Treatment Solutions (“PurLucid”) has deployed the first advanced wastewater treatment system in Alberta. The customer will pay C$35 per cubic meter for evaporator blowdown wastewater (“EBD”) processing. Delivery of first EBD wastewater is expected to occur on November 13th. The system, capable of processing 5 m3/h, is expected to operate at full capacity. The system will take highly concentrated EBD wastewater and treat it to a level suitable for reuse or standard low-cost disposals of clean liquids and physical solids and particulate. The system will provide significant cost savings for the customer.
Deployment of this system represents the first scheduled system for installation. The second installation will be a high temperature 10m3 per hour system in approximately 2 months. This system is currently undergoing flow testing at PurLucid manufacturing facility in Calgary, Alberta. The water processing rate is expected to also be $35 per cubic meter for waste disposal and the system is expected to operate at full capacity. The technology provides superior treatment outcomes when compared to conventional technology and can do so without cooling water first. This will result in significantly less energy use for water treatment and also eliminate the single major operational challenge of a steam assisted gravity drainage (“SAGD”) facility, which is heat exchanger fouling. A third system is currently in fabrication and is a larger-scale version (20 m3/h) of the first system intended to treat one-through steam generator (“OTSG”) boiler blow down.
Due to the requirements of N.I. 43-101, the Company cannot project or comment on mineral extraction revenue from wastewater, if any, until a PEA, PFS, or actual mineral sales have occurred.
Rapid Lithium Brine Extraction Technology
MGX has developed a rapid lithium extraction technology eliminating or greatly reducing the physical footprint and investment in large, multi-phase, lake sized, lined evaporation ponds, as well as enhancing the quality of extraction and recovery across a complex range of brines as compared with traditional solar evaporation. This technology is applicable to petrolithium (oil and gas wastewater), natural brine, and other brine sources such as lithium-rich mine and industrial plant wastewater. The technology was recently chosen as winner of the Base and Specialty Metals Industry Leadership Award at the 2018 S&P Global Platts Global Metals Awards held in London in May (see press release dated May 18, 2018). The Company has also been selected as a finalist for the 2018 S&P Global Platts Global Energy Awards- Emerging Technology and Rising Star- to be held in New York City in December. For more information on the event visit https://geaweb.platts.com/Finalists/Finalists2018.
About PurLucid
PurLucid’s exclusively licensed and patented nanoflotation technology was designed specifically for oilfield environments. The technology separates impurities from oil and gas wastewater and produces clean water as a final product. This allows for the recycling or controlled release of oilfield wastewater and reduces or eliminates downhole and associated transportation costs. Water handling costs are one of the largest operating costs in the oilfield and oilsands operations today. Learn more at www.purlucid.com. MGX currently owns 55% of PurLucid and has the right to acquire up to a 100% interest in PurLucid through successive investments.
About MGX Minerals
MGX Minerals is a diversified Canadian resource and technology company with interests in global advanced material, energy, and water assets. Learn more at www.mgxminerals.com.
Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this release.
Forward-Looking Statements
This press release 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. The Company cautions investors that any forward-looking information provided by the Company 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 Company's public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Company's profile on SEDAR at www.sedar.com.
Contact Information
Jared Lazerson
President and CEO
Telephone: 1.604.681.7735
Web: www.mgxminerals.com