CMC MetalsLtd. said July 19 that it has agreed to lease its portableflotation plant used at its Silver Hart silver project in Yukon Territory toMGX Minerals Inc. for a maximum of six months.
MGX will transport the flotation plant to Cranbrook, BritishColumbia, to conduct a bulk sample at its Driftwood Creek magnesium project andwill pay costs related to transportation and making the plant operational.
As consideration for the use of plant, MGX will issue300,000 common shares to CMC Metals. Upon completion of the lease terms, theplant will be shipped to CMC Metals' operations in California.
In addition, the company has appointed Ian Graham presidentand COO.
Michael Scholz, Jack Bal, John Bossio, Robert Wheeler, CarlVon Einsiedel, Azim Virani and Ian Graham were elected company directors in aJuly 7 annual general meeting.