NetworkNewsBreaks – MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) Releases Positive PEA Results for Driftwood Creek Magnesium Project
Diversified resource and technology company MGX Minerals Inc. (CSE: XMG) (FKT: 1MG) (OTCQB: MGXMF) this morning released the results of a maiden Preliminary Economic Assessment (“PEA”) on its wholly-owned Driftwood Creek Magnesium Project in British Columbia, Canada. Among other highlights, the results include a pre-tax net present value (“NPV”) of C$529.8 million and a 24.5% internal rate of return (“IRR”). The PEA study was prepared by AKF Mining Services Inc., Tuun Consulting Inc., Samuel Engineering Inc. and will be available on the company’s website within 45 days. “We are extremely pleased with results of the PEA, which display Driftwood’s ability to become a high-margin, low-cost producer of magnesium oxide in a politically secure jurisdiction. We believe this significant milestone outlines a clear path forward and provides numerous opportunities to further enhance the economics of the project with a pre-feasibility study,” MGX president and CEO Jared Lazerson stated in the news release.
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer