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Equitorial Exploration's 50/50 Joint Venture Magnesium Project with Mag One Products Inc. Will Not Require Environmental Evaluation
(via TheNewswire) Vancouver, BC, Canada / TheNewswire / October 20, 2017 - Equi...
About this update from Lake Winn Resources Corp.
[{"type":"text","content":"Equitorial Exploration's 50/50 Joint Venture Magnesium Project with Mag One Products Inc. Will Not Require Environmental Evaluation(via TheNewswire)\n \n \nVancouver, BC, Canada / TheNewswire / October 20, 2017 - Equitorial Exploration Corp. (TSX-V: EXX, Frankfurt: EE1, OTCQB: EQTXF) (\"Equitorial\" or \"Company\") is pleased to report that the Company's joint venture partner, Mag One Products Inc reported on October 12, 2017 that its commercial high-purity magnesium oxide (MgO) and silica (SiO2) project will not be subject to an environmental evaluation. \n\n\n \n50/50 Joint Venture Between Equitorial Exploration and Mag One\n\n\n \nOn May 19, 2016, Mag One reported, \"Equitorial has now earned the exclusive right to joint venture with Mag One on a 50/50 basis to fund the construction of Mag One's first modular production facility for the extraction of magnesium and related products and the further non-exclusive right to joint venture with the Company to fund further modular production facilities.\" The transaction received approval from the Toronto Stock Exchange.\n\n\n \nAccording to an agreement amended March 11, 2016, Equitorial Exploration Corp., by providing $750,000 of Mag One's private placement will have earned an exclusive right to enter into the first joint venture to finance, on a 50/50 basis, the construction of production facilities that Mag One will use to produce magnesium metal and related products. \n\n\n \nEquitorial will also have the right to finance other production facilities on a 50/50 joint venture, on a non-exclusive basis, with Mag One. \n\n\n \nMag One Commercial High Purity Magnesium Oxide and Silica Project\n\n\n \nMag One Products Inc. has received positive feedback on its commercial high-purity magnesium oxide (MgO) and silica (SiO2) project description submitted this past summer to the Quebec Ministry of the Environment (MDDELCC). Specifically, Mag One has learned that the proposed project in southeastern Quebec will not be subject to an environmental evaluation, a process which is often lengthy and costly. As such, the process to obtain a certificate of authorization (CA) for the environmentally friendly commercial 30,000-tonne-per-year high-purity magnesia and 33,000-tonne-per-year silica plant will be simpler, faster and more cost-effective, given that fewer administrative measures are involv...