The Cranbrook mill complex spans 38-hectares (98 acres) located within the Cranbrook industrial park. Major infrastructure including buildings and a wood processing plant remain on site. The site is a large fully serviced industrial location with natural gas, water, power and rail access. The Company plans to use the location for the processing of industrial minerals including ore from the Company’s Driftwood Creek magnesium deposit.
The Company is in discussions regarding mortgage and equity financing of the land purchase as well as leasing of unused portions of land and sale of unused equipment. MGX anticipates closing of the transaction will occur on or before December 15, 2015.
