Time To Bet: Sprott Takes A Position In MGX Ahead Of Results From Lithium Upgrader

ZURICH,
SWITZERLAND / ACCESSWIRE / June 15, 2017 / On Tuesday, MGX Minerals Inc. (CSE: XMG; Frankfurt: 1MG) closed a $3.3 million CAD financing (over-subscribed), with a big chunk coming from a renowned institutional investor, Sprott Asset Management.

According to MGX´s latest CSE filing, Canada´s leading independent asset management company invested $1.5 million CAD into MGX (Sprott has dedicated a total of approximately $7.3 billion to small and mid-cap resource companies; as at September 30, 2016, according to the company).

This is a highly positive endorsement for the highly ambitious “petrolithium” developer, MGX, which has raised some $8,8 million CAD in the last 6 weeks. Cashed up, MGX is now in a position to move ahead even faster with its projects.

Most interestingly, about 2 weeks ago on June 1, MGX Minerals Inc. started to ship lithium concentrate (30% lithium chloride) to an upgrader. MGX and its partner PurLucid produced this lithium concentrate with a proprietary technology, or processing method, that promises to selectively extract lithium from highly-contaminated brines, with a current focus on oil and gas production wastewaters.

The full report can be accessed with the following links:

English: http://rockstone-research.com/index.php/en/research-reports/3142-Time-to-bet:-Sprott-takes-a-position-in-MGX

German: http://rockstone-research.com/index.php/de/research-reports/3143-Zeit-fuer-eine-Wette:-Sprott-positioniert-sich-in-MGX

Disclaimer: Please read
the full disclaimer within the full research report as fundamental
risks and conflicts of interest exist.

SOURCE: Rockstone Research

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