Magnesium Company News Directory

MGX Minerals Added to CSE Composite Index, Increases Financing

MGX Minerals Inc. (CSE:XMG) has been added to the Canadian Securities Exchange Composite Index, which measures market activity for securities listed on the Canadian Securities Exchange. MGX also announced an increase in its previously announced non-brokered private placement, to 2,000,000 shares at a price of CA$0.30 per share.

MGX Minerals Confirms Compatibility of Alternative Energy at Driftwood Creek Magnesium Project

MGX Minerals Inc. (CSE:XMG) reported initial results from desktop analysis for the use of hydrogen rich synthesis fuel as the primary energy source for the calcining of magnesite ore at the Driftwood Creek magnesium project in BC: initial results indicate that Highbury Energy’s proprietary biomass conversion process can supply 93.3% of heat energy necessary to conduct magnesia calcining in engineering partner Industrial Furnace Company's multiple hearth furnace at Driftwood Creek.

Nevada Clean Magnesium, ScanMag AS Sign Joint Venture Agreement

Nevada Clean Magnesium (TSXV:NVM) formally completed its joint venture agreement with ScanMag AS of Norway previously announced on December 22, 2014. Under the Terms of Agreement, shares will be issued proportionally to receipt of monies starting with the initial payment of $2 million USD; $5 million USD investment from ScanMag AS into Nevada Clean Magnesium over 4 years, beginning with the first major payment of $2,000,000 within 12 months, followed by 36 monthly payments of $83.3 thousand USD.

MGX Minerals Acquires Needles Magnesite Deposit in California

MGX Minerals Inc. (CSE:XMG) reported that it signed a Mining Lease Agreement for the exploration, development and mining of the Needles magnesite deposit in San Bernardino County, California. Under the Agreement, MGX has the right to lease Needles for up to 100 years, with renewal options occurring every 10 years, and by making annualized lease payments (USD) of $12,000, $24,000, and $36,000 in years 1-3 respectively and $36,000 per annum plus cost of living adjustment thereafter. The Company also must pay $5,000 within 30 days and issue $10,000 in MGX common shares.

MGX Minerals Enters Agreement With Highbury Energy and Eaton Industries to Develop Driftwood Creek Magnesium Property

MGX Minerals (CSE:XMG) has entered an agreement with Eaton Industries and Highbury Energy for the development of its Driftwood Creek magnesium property in British Colombia. The agreement include development and financing options for the project. Eaton will immediately commence a scoping study for the project, and Eaton and Highbury will work with MGX to develop 7 to 10 industrial mineral projects using a similar business model.