Newly listed Magnesium Alloy (MGAC-C) has set its sights on becoming a major producer of magnesium metal.
Toward that end, the junior has acquired two exploration permits in the Kouilou region of the Democratic Republic of Congo.
The permits, each covering 2,400 sq. km, are reported to contain potassium and magnesium salts, including carnalite, sylvinite and bischoffite. The company intends to establish an integrated program that includes mining, extraction metallurgy, processing and the development and marketing of new magnesium alloys.
Magnesium Alloy has 13.8 million shares outstanding.
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