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MGX Minerals chief Lazerson says energy industry is 'place to be'

Last updated: 13:36 09 May 2018 EDT, First published: 08:36 09 May 2018 EDT

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The drive towards energy metals has been largely sparked by electric vehicles

The boss of MGX Minerals (CSE:XMG, OTCQB:MGXMF), which has interests in advanced material and energy assets throughout North America, says the energy industry is the "place to be right now".

"I think it's massive," Jared Lazerson tells an interview on Uptick Newswire’s “Stock Day” podcast.

WATCH HERE..

In a broad discussion, he discusses magnesium, lithium, and new methods for extracting minerals from brines and says there is a transition to renewables from fossil fuels but this will take many years.

“Our approach to the industry is three pronged; commodities, processes and mass storage.” Lazerson said.

“Regarding commodities we have followed a traditional exploration model, be the biggest and be the best.” 

MGX owns the largest new magnesium deposit in North America. It also owns 2mln acres of lithium brine exploration property.

“The specialized process with which we extract lithium cuts a two-year procedure to a few days,” added Lazerson. 

"I don't see anyone saying ten years from now the world's going to use less lithium or the world's going to use less power," he said.

“We have invested highly in additive technology and engineers that give us competitive advantage.”

MGX has also acquired a mass storage facility that uses fuel-cell type batteries. 

"This acquisition provides the company with large-scale mass storage that costs about 1/10th the price of a lithium battery run storage.”

MGX shares added 4.88% to C$0.86 each.

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