Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Yeah, that is weird. I chalk this up to web developer fail. What is particularly bad is that when you put "mgx minerals" into google or duckduckgo, the first company website that you get is that one. (It is also bad that you have to go 3 pages deep in the google search results before they will even give you an actual company website, but that is another matter.)
I kept using the wrong web address: http://mgxminerals.com/home/
Not sure what you mean by "Canadian website address." We all have access to the same info, and if you put in http://mgxminerals.com you are sent to the same place. I don't think that the "ca" has any significance - it is just a matter of how the web developers organized things.
How very odd that they have the Canadian website address active and up to date, but not elsewhere....
http://mgxminerals.com/ca/
I'm using simple logic. If the product is as good as advertised, then why hasn't the market exploded for that product? Is it because of management or the product? Take Tesla as an example. MGX market model might be the single source for keeping the company from going anywhere, but, if so, then that again is managements fault. Somebody needs the change market direction or the business model...
Are talking about specific situations here, or just the reputation?
When you compare a dynamic company like Tesla against a company like MGX, well what can I say...Leadership makes all the difference. Many times success is enhanced by surrounding yourself with good people. However, if you don't listen to them, what's the point.
FINALLY...THE WEBSITE IS UP AND RUNNING....
One thing is for certain, Jared doesn't play well with others...Not good for the company stock when you have seasoned people on the board and the president doesn't listen to them...This seems to be a not-so-good pattern.
MGX Minerals Announces Supreme Court of British Columbia Confirms Jared Lazerson is the President and CEO of MGX Minerals Inc.
---
???? Should I have known that this was going on? Does anyone know the backstory?
---
Thu January 23, 2020 8:45 AM|Accesswire|About: MGXMF
VANCOUVER, BC / ACCESSWIRE / January 23, 2020 / MGX Minerals Inc. (MGXMF) ("MGX" or the "Company") (CSE:XMG)(FKT:1MG)(OTCQB:MGXMF) reports at a meeting of the directors of MGX on October 7, 2019, two of the Company's directors, Lyndon Patrick and Michael Reimann, put forward a motion to remove Jared Lazerson as the Company's President, CEO and signing authority. Messrs. Patrick and Reimann voted in favour of the motion. The Company's other two directors, Andris Kikauka and Mr. Lazerson voted against the motion. Mr. Lazerson also exercised a casting vote against the motion, as authorized by the Company's articles. The motion was declared defeated.
Following the October 7, 2019 board meeting, Mr. Reimann issued news releases suggesting that Mr. Lazerson had been removed as the Company's President, CEO, and signing authority. Messrs. Patrick and Reimann took the position that Mr. Lazerson was prohibited under the Company's articles and the "disclosable interest" provisions of the British Columbia Business Corporations Act from voting on the motion to remove him as President, CEO, and signing authority.
On December 5, 2019, Messrs. Patrick and Reimann filed a Petition with the Supreme Court of British Columbia seeking, among other things, a declaration that the motion of October 7, 2019 to remove Mr. Lazerson as the President, CEO and signing authority of MGX had been duly passed.
Lawyers representing MGX, Mr. Lazerson, and Messrs. Patrick and Reimann appeared in court on January 17, 2020 to argue whether Mr. Lazerson was entitled to vote on the October 7, 2019 motion, and by extension, whether Mr. Lazerson is still the President, CEO, and signing authority of MGX.
Madam Justice Fitzpatrick of the Supreme Court of British Columbia delivered her decision on January 17, 2020 at the conclusion of the legal arguments. The Court ruled that Mr. Lazerson was not prohibited by the Company's articles or the Business Corporations Act from voting on the October 7, 2019 motion. The Court also ruled that Messrs. Patrick and Reimann must pay legal costs to both MGX and Mr. Lazerson.
The Court decision of January 17, 2020 confirms that Mr. Lazerson is, and at all times since October 7, 2019 has been, the Company's President, CEO, and signing authority.
The remaining aspects of the Petition filed by Messrs. Patrick and Reimann were adjourned generally.
That is indeed very impressive. Here is a link to the announcement put out by the New York Power Authority. https://www.nypa.gov/news/press-releases/2020/20200117-zinc . The info is about the same, but it is nice to see it put out by a neutral party, rather than the company itself. I am tempted to add to my $200 worth that I already have from the spin off. I do have to remind myself that one of the things that attracted me to MGX Minerals was when I saw that the state of California was giving them some number of dollars to work on extracting minerals from the Salton Sea. As far as I can tell nothing came of that. Sometimes agencies are required by law to fund certain sorts of research projects even when they don't care about them, so the funding doesn't really indicate interest. But in this case it does seem like there is real interest, and if they can perform it might be gigantic. I think I've talked myself into this.
My last post is actually impressive news when you consider that 60 other companies competed for this business!!
More than 60 business applicants entered the Challenge, designed to accelerate the commercialization of new technologies for the electricity grid to ensure an affordable and reliable renewable energy supply to New York State. NYPA selected Zinc8 Energy Solutions’ Zinc-Air Energy Storage technology to demonstrate energy storage and demand management that can help build longer duration flexibility (8 hours plus) into the grid and optimize the role storage resources play.
Keep an eye on the dollars traded, not the stock price, at least not until this stock stabilizes as some price level.
It's standard to compare a quarter with the same quarter of the previous year, but I don't think it's normal to title the document that way. It makes it seem like they are reporting the 2018 quarter for the first time, rather than just including a summary for comparison. I went onto their website ( http://mgxminerals.com/ca/financial-reports/ ) to look at the rest of their financial reports and what they have there stops with the fiscal 2018 annual report from July 2018.
Regardless of all that, the share price is certainly on a run. I think my shares have improved from -97% to -90%, so awesome. Did anyone here manage to get any shares down near the three cent level?
It's used as a comparison so you can compare the current results to those of the previous year. It's a pretty standard format for financial statements.
What does the "and 2018" refer to in "For the Three Months Ended October 31, 2019 and 2018"?
I am surprised that the stock price is holding well above $0.05 for a Monday. Maybe this will be the year for a reasonable turn-around. From the financials, I noticed options around the 0.21 price. Not certain that makes any impact, but if I were holding those, I would look to sell them above 0.30 all the way to 0.50. What does that imply? Well, we should not see significant selling until price goes above 0.30 cents. This, of course is hypothetical. But, that's how I would expect the first level of strong resistance to show up. Again, just hypothetically speaking...
These financials are for the 1st quarter of their fiscal year (Aug thru Oct) and it took them until 12/30 to prepare and release them. Their fiscal year ends July 31.
The cover page of this document says "For the Three Months Ended October 31, 2019 and 2018." What does that mean exactly?
Here you go. This was posted on 12/30.
https://webfiles.thecse.com/sedar_filings/00033313/1912301251142563.pdf
Friday is not usually a good day to judge the health and direction of a stock. So, until we see some financials, I don't expect the jump in this stock to hold.
There still might be life left in this very strange stock...but time will tell. Waiting on financials which should be available tomorrow (according to the hold agreement). Also, a new website?? The end of Feb is my drop dead date or maybe the stock will drop dead before then...
Although all looks lost...studying the arrangement with South Korean, although long term, it seems to indicate a mild change in direction as to how money might be coming into MGX. I can only surmise that MGX equipment will be sold directly to DST company with a follow up of back end support for marketing, etc. Yeah, long term, but possibly in the right direction. I suspect they are suffering a time/money race condition at time. Hopefully, neither one will run empty before money starts to flow.
https://www.mgxminerals.com/investors/news/2019/481-mgx-minerals-forms-strategic-alliance-with-dst-co-ltd-to-develop-vertically-integrated-vanadium-redox-mining-and-manufacturing-partnership.html
Sounds like a good idea. I hope that you can provide almost all of the funding.
Let's pull our money together and buy the company out!!! It's cheap and getting cheaper...
We have been shareholder for a few years. They seem to have a lot going for themselves. Hope that they can get their act together soon.
They should have been cash flow positive as of this month....
So far, everything I've read is not looking good. They totally missed reporting their financials.."management delayed Audited yearly financials!" They also have several lawsuits dragging down their progress....
I can't muster up a rosy view for the present situation. Too many unknowns and too much silence. At a distance, it might be that they are in a take over talk, but that again, might be wishful thinking. At this time.....Eureka Resources is better off financially then MGXMF. So, time will tell.
The only thing that might turn positive is that management releases financials before Jan...but that again is wishful thinking...
I just can't see this company going down in flames...
So, if everything comes together and the company expands, we should expect higher share prices next year??? When may we anticipate actually becoming cash flow positive?
This fourth quarter is expected to be the start of a stock price upward movement. I am expecting, as a minimum, a report indicating the success or failure of the joint venture in PA. Better yet would be a clear financial report for all of MGXMF projects.
"The JV is now working to commission the system, which is expected to begin commercial extraction in the fourth quarter."
Painful waiting game. This should be the quarter for some good news...not sure what's happening...
This stock may not explode, but it will definitely grow. If anyone is looking long term on a good stock at a low price, now is the time to get in.
MGX Minerals and Eureka Resources Announce Shipment of World’s First Commercial Rapid Petrolithium Recovery System to Pennsylvania
VANCOUVER, BRITISH COLUMBIA / September 24, 2019 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) and Eureka Resources, LLC (“Eureka”) are pleased to announce shipment of the world’s first commercial rapid lithium recovery system. The containerized system containing primary components, ready for extraction operation, left Engineering Partner PurLucid Treatment Solutions (“PTS”) Calgary, Alberta facility at 9am September 18, 2019 and is expected to arrive in Towanda, Pennsylvania on September 23rd, 2019 at 1pm.
Initial System Installation The newly formed Joint Venture (“JV”) will initially focus on fast tracking deployment of the world’s first commercial rapid lithium recovery system at Eureka’s state-of-the-art Standing Stone advanced wastewater Treatment Facility (“Standing Stone”) near Towanda, Pennsylvania. The JV is now working to commission the system, which is expected to begin commercial extraction in the fourth quarter.
Eureka’s Standing Stone facility, which originally opened in 2013, provides regional energy producers with advanced wastewater treatment services for raw oil and gas brines. Postconcentration lithium values in the range of 1,000ppm have been reported by Eureka and verified by MGX from produced water from within the Marcellus Shale.
Additional System Deployments
In addition to the initial system installation at Standing Stone, the JV has also outlined a growth strategy that focuses on growing lithium output and deploying additional rapid recovery systems throughout the Marcellus and Utica shale formations. This includes scaling up lithium output at Standing Stone, deploying additional systems to other Eureka facilities, and identifying new installation sites at third-party treatment facilities. Eureka shall retain exclusive rights to develop all JV relationships with third-party facilities within the Marcellus and Utica shall formations for an initial period of five years. Both Parties will have mutual discretion to further extend the JV for up to four additional years thereafter.
Petrolithium Extraction
The technology eliminates or greatly reduces the physical footprint and investment needed for large, multi-phase, lake-sized, and lined evaporation ponds. The technology enhances the quality of lithium extraction and recovery across a complex range of brines as compared with traditional solar evaporation and is applicable to oil and gas produced water, natural brine, lithium-rich mine brine and industrial plant wastewater. MGX’s petrolithium technology was recognized with a Base & Specialty Metals Industry Leadership Award at the 2018 Platts Global Metals Awards.
MGX may utilize the petrolithium technology for lithium and other valued products production without first establishing mineral reserves supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure.
FYI
VANCOUVER, BRITISH COLUMBIA / September 20, 2019 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG / OTCQB: MGXMF) is pleased to announce it has entered into a Letter of Intent (the “LOI”) with DST Co., Ltd. (“DST”) to create a joint venture as part of the formation of a vertically integrated vanadium redox battery supplier. The objective of the partnership is to advance a sedimentary-bearing vanadium deposit located in South Korea and develop a manufacturing facility for vanadium redox flow batteries and energy storage systems.
Additionally, the Company and DST have agreed to identify sites in the state of New York suitable to build a manufacturing facility that will produce vanadium batteries. DST will provide proprietary battery technology and build a manufacturing facility while MGX will manage sales and marketing of end products throughout North America.
Ahhh...the little engine that could...
Dont be too sure. The technology has been proven and there are other companies pursing Zinc storage:Although MGX technology already seems to be out front in reference to length of storage capacity time.
https://www.power-eng.com/2019/09/11/holtech-eos-create-battery-manufacturing-jv/?topic=58733
Forget you ever read anything about MGX and MGX RENEW
This stock is not up 198%
Just look at the spreads on the bid ask prices and tiny volumes. No one is sniffing this POS.
Better off going to Vegas or Football bets this weekend!
Call MGX investor relations and ask them what Jared is up to these days:) All of those promises
You remember that commercial a few years back after the recession:
"If you have any loose or spare gold hanging around you can put it in this postage paid yellow envelope and I will send you back a check with fair market value."
Don't give your money away
News: $MGXMF MGX Minerals Announces Successful Development of Etching Process for Next-Generation Lithium Ion Batteries
VANCOUVER, BC / ACCESSWIRE / September 11, 2019 / MGX Minerals Inc. (“MGX” or the “Company”) ( CSE:XMG ) ( FKT:1MG ) ( OTCQB:MGXMF ) is pleased to report that its collaborative research partnership with the University of British Columbia (“UBC ...
In case you are interested MGXMF - MGX Minerals Announces Successful Development of Etching Process for Next-Generation Lithium Ion Batteries
Both stocks have a huge upside as pressure from governments like Canada are pressuring oil companies to stop polluting ground and surface water. Add to the fact that oil companies now have a financial incentive and a means to reduce the cost of disposing waste water.
Financial pressure from the energy markets are also pushing for more clean energy solutions.
https://www.mgxminerals.com/new-energy-economy/item/101-mgx-renewables-begins-next-gen-cathode-production-for-zinc-air-battery.html
This is a great company and it's only going to get much greater over the next few years!!!
Both MGX and MGX Renewables are up big lately. Over the last 5 days Renewables is up 198%, and MGX is up more than 50%. MGX's gain is all over the last 2 days.
MGXR....hummmm, I guess I should have bough more...bummer...Always a day late and a dollar short!!! Story of my life!!
Nothing was sent.. just shares that seem to be going up. Whopping $50 bucks worth.. lol
MGXRF (MGX Renewables) has more than doubled over the last few days. I wonder if maybe once it showed up in people's accounts there were some who just wanted to get rid of it and sold without considering the price, and now it's finding a fairer value. It is a bit of a nuisance to have in the portfolio (my shares are worth about $100). Did they ever say anything about a value to use as a tax basis?
Got my spin off on TD showing now. MGXRF (F) stands for Free shares! lol
Mining for minerals or panning for Gold or taking minerals out of water, it's all the same, mining.
I watched the video. I hadn't really known much about the magnesium mine before, so I learned a lot there. The permit they got allows them to basically extend their "sampling" or whatever you call it of the property, which would hopefully increase the known deposits. Apparently they screwed something up in the past and this caused a big delay in the permit. He said that a mine in North America can not compete on price with the existing foreign producers. It would take tariffs and maybe a government subsidy to be competitive. The subsidy would be justified because the resource has some strategic applications. I also noticed that he referred to mining as their core business, which is interesting since it's been pretty much all about the water processing since I've been here.
As to the water, I think it was said that one facility started processing in July (though I can never tell if it is really happening, or just some further test phase is taking place) and another thing will start in 2 months.
A lot of upbeat monetary information from today's interview with Jarad. There is a lot of physical movement taking place on the ground which should translate to real value in the stock price in the next few months.
https://t.co/zgtZWIl1zx
https://t.co/rUODPynwVl
https://t.co/J2TA2ReSaw
Followers
|
40
|
Posters
|
|
Posts (Today)
|
0
|
Posts (Total)
|
864
|
Created
|
01/19/17
|
Type
|
Free
|
Moderators |
MGX Minerals is leading the transition from fossil fuels to renewables through investments in battery commodities, extraction processes, and clean technologies for the oil, gas and mining sectors.RECENT NEWS |
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |