Magnesium Company News Directory

Nevada Clean Magnesium Restructures Terms of JV with ScanMag

Nevada Clean Magnesium, Inc. (TSXV:NVM,FWB:M1V,OTC:MLYFF) reported the restructuring of its originally announced Joint Venture terms with ScanMag AS: $5 million USD total contribution from ScanMag AS to Nevada Clean Magnesium, payable over 4 years, commencing with the first major payment of $2,000,000 within 12 months; 10% pre-financing equity in ScanMag dilutable down to 2% undiluted interest; NCM and ScanMag will establish a separate technical development company for the testing of aspects of the magensium processing proof of concept through a 50-50 owned Norwegian subsidiary based in Glomfjord, Norway.

Nevada Clean Magnesium Closes First Tranche of Private Placement

Nevada Clean Magnesium (TSXV:NVM) has closed the first tranche of its previously announced non-brokered private placement for proceeds of $64,000. Nevada Clean Magnesium intends to use proceeds from the offering will be used to update the preliminary economic assessment for its Tam-Mosi magnesium project as well as for general working capital and accounts payables.

MGX Minerals Files Mining Lease Application for Driftwood Creek

MGX Minerals (CSE:MGX) says it is filing a mining lease application with the Mineral Titles Branch of the British Columbia Ministry of Energy and Mines for its Driftwood Creek magnesium project. The mining lease application is a formal request for the conversion of Mineral Tenures 511333 and 511335, comprising 265 contiguous hectares, into a mining lease.

MGX Minerals Prepares Exploration Permit for Longworth

MGX Minerals (CSE:MXG) is planning to file its Notice of Work to complete a drilling at the Longworth Silica Property with the BC Ministry of Energy and Mines. MGX has also retained ALS Minerals to conduct frac sand analyses on material from the property.

MGX Minerals Enters Joint Venture on Longworth Silica Property

As part of the formation of an alliance with Zimtu Capital (TSXV:ZC) and Electra Gold Corp. (TSXV:ELT), MGX Minerals (CSE:MXG) has entered a joint venture agreement to secure a 50 percent interest in the Longworth Silica Property. The alliance was created for the purpose of jointly developing industrial mineral properties.

MGX Minerals — Magnesite Production in North America

MGX Minerals (CSE:XMG) is an industrial minerals focused company engaged in the acquisition, exploration and development of properties in Western Canada. MGX’s flagship project is its Driftwood Creek magnesite property in British Columbia. Two high-grade mineralized zones have been delineated at the property to date. Mineralization is characterized by low calcium content, which is incredibly [...]