VANCOUVER, BRITISH COLUMBIA / October 9, 2015 / MGX Minerals Inc. (“MGX” or the “Company”) (CSE: XMG / FKT: 1MG) announces the Company has begun site evaluation and engineering studies at its proposed mill site located in Cranbrook, British Columbia (see press release dated September 29, 2015.
MGX’s Senior Engineer has completed an initial site visit and begun reviewing proposed logistic and infrastructure strategies with the purpose of completing a preliminary plant design. Personnel from energy partner Eaton Industries (Canada) Corporation (NYSE: ETN) (“Eaton”) are expected to arrive on site shortly. Eaton personnel have also begun preliminary evaluation of the property and available services. Additionally, the Company is in joint discussions with strategic partners Eaton and Highbury Energy Inc. (“Highbury”) (see press release dated May 26, 2015), as well as coordinating with the city of Cranbrook, in regards to existing infrastructure and potential service upgrades.
As reported in June (see press release dated June 4, 2015), MGX has entered into a partnership with Industrial Furnace Company (“IFCO”) of Rochester, New York to install and operate industrial-sized kilns at Driftwood Creek. The kilns are currently being evaluated to determine cost-effective energy options, including both natural gas and synthetic gas.
The Company is also evaluating existing forestry equipment that remains on site, including a fully operational sawmill that produces finger jointed lumbar. The specialized mill was originally installed in 2008 at a price of approximately CA$8 million.