Utah, MGX holds oil and lithium assets spanning over 100,000 acres and is set for 3D seismic within weeks. In August 2017, MGX reported one of the largest initial oil estimates in US history at its Paradox Basin Petroltihium Project. At the Paradox Basin MGX is targeting lithium brine associated with oil and gas.
In Nevada, MGX has announced last week mobilization for drilling at Kibby Basin, Nevada, 50km North of the only US lithium producer Abermarle’s Silver Peak Mine.
In California, MGX has engaged former California Senate Majority Leader Richard Polanco as an advisor and consultant to the company as well as Randall W. Keller as Vice President of Business Development, who previously worked as Director of Business Development, Transmission & Land Assets with a focus on geothermal units for Berkshire Hathaway Energy Renewables. In November 2017, MGX and engineering partner PurLucid developed a novel filtration technology for the purification of high temperature geothermal brines and the associated extraction targeting the geothermal market for extraction of lithium and other metals.
Hatch has considerable engineering expertise in the lithium business and are experts in speciality metals. Whatever the project may be that is behind today’s news, MGX intends to scale up its technology big time. Considering the actual US tariff situation with lithium deemed critical to the economic and national security of the US, it appears MGX has focussed on large scale deployment of its rapid extraction technology in the US.
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