Nevada Clean Magnesium reports that the TSX Venture Exchange has accepted for filing the Binding Memorandum of Understanding dated February 1, 2017 between Nevada Clean Magnesium (NCM) and Big Blue Technologies whereby the company and BBT have agreed to enter into a technical joint venture. Both parties will work together to further develop the NCM Process, the BBT Process and the Alpha Condenser in order to produce magnesium metal from the Tami – Mosi magnesium property owned by NCM.
BBT is engaged in developing high temperature chemical processing solutions to aid in the manufacture of magnesium and other lightweight high performance materials. Together with the University of Colorado, BBT has developed, and the University of Colorado has applied for two patents related to the production of magnesium, primarily using the chemistry known as carbothermic reduction. BBT has the right to receive a license to use of these patents, and derivative patents, on an exclusive basis as it continues to develop this technology.
Nevada Clean Magnesium is focused on becoming a major US producer and distributor of primary, high grade, low cost magnesium extracted from its 100% owned Tami-Mosi property located in North Central Nevada. Based on the Company’s NI 43-101 PEA published in September 2011 and amended in July 2014, the Tami-Mosi project has an inferred resource of 412 Mt with an average grade of 12.3% Mg, using a 12% cutoff grade contained within a high purity dolomite block.