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MGX Minerals nearing first commercial deployment of its oilfield systems

The first is with a major oil and gas operator in Alberta, Canada to operate an integrated wastewater treatment and lithium recovery system
MGX Minerals nearing first commercial deployment of its oilfield systems
MGX's patented nanoflotation technology has been designed specifically to be used on brine (a waste) from oilfields

MGX Minerals Inc (CNSX:XMG, OTCQB:MGXMF) is nearing the first deployment of its lithium recovery and waste water treatment systems, now that commercial scale trials have been completed.

The first is with a major oil and gas operator in Alberta, Canada to operate an integrated wastewater treatment and lithium recovery system.

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Delivery of the system remains on track and is scheduled for commissioning shortly.

The firm's 51%-owned engineer PurLucid Treatment Solutions is a partner in this petrolithium project.

The latter's patented nanoflotation technology has been designed specifically to be used on brine (a waste) from oilfields to produce clean water and yield lithium and other minerals.

A second scheduled deployment of the system is a contract and agreement between a consortium including government, oil and gas operator, MGX and PurLucid to receive and treat evaporator blowdown wastewater (EBD).

This contract will include installation of three treatment systems.

A third system is a larger-scale version of the first system and is intended for deployment to treat one-through steam generator (OTSG) boiler blowdown.

This blowdown represents the largest water loss at any steam assisted gravity drainage (SAGD) facility.

MGX told investors on Wednesday that the projects represent significant cost savings for oilfield operators in water handling and revenue for MGX and PurLucid in wastewater treatment with an additional opportunity for lithium and mineral recovery.

Shares added 2.2% to C$0.93 in Toronto before fallimng back to C$0.91.

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