Future Plans
KEYS TO OUR SUCCESS INCLUDE:
• Due to worldwide demand and the discovery of new products using magnesium, we expect prices for Magnesium to increase in the future. Also, domestic requirements in China are increasing substantially. All of these factors point to an increasing price for Mg (which has traded as high as US$7,000 per tonne in 2008.)
• Identifying long term customers for magnesium production is important. For much of the past 20 years, North American buyers of Magnesium have had to source much of their requirements from overseas. Having a modern efficient North American supplier will be attractive to such users.
• Our engineering consultants have proposed a 50,000 tpy Magnesium plant as the appropriate size, at an estimated cost in the range of $745 million. The plant would create 350 direct and over 1,000 indirect jobs.
• The magnesium processing plant will require substantial electricity. There are several potential sources for such power in Central and Northern BC including Site C on the Peace River.
Some Uses for Magnesium:
• Cars, Consumers, Computers
• As an alloy in other metals – most typically in aluminum (45% of Mg is used by the aluminum industry)
• A key benefit of Mg is its low weight to strength ratio.
An emerging opportunity for Mg is in the production of new energy storage (battery) devices. See article 1 and article 2.
Corporate Outline
We are a private company with no immediate plans to go public, preferring to fund the exploration activities and other technical work with funds from close friends.
We welcome expressions of interest from parties interested in acquiring one or more of our properties and working as a joint venture. While going public may be an option, being acquired by a major mining company remains our primary objective.
Flowthrough Shares
Our properties currently qualify for the Company to receive provincial mining exploration tax credits of 30% of qualifying expenditures. Alternatively, under the government's Flow-through Share Programme, expenditures can be renounced, which entitles Canadian resident investors to receive tax refunds and credits of up to 63% of the amount invested.
READERS NOTE: Certain statements provided herein may constitute forward looking statements. Such forward looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from actual future results and achievements expressed or implied by such forward looking statements. Investors are cautioned not to place undue reliance on these forward looking statements, which speak only as of the date of this summary. Investors are also advised to consider such forward looking statements in light of the risks and uncertainties typically involved in such an investment.
