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LEXG'S GROUNDBREAKING ULTRASONIC GENERATOR TECHNOLOGY ON THE CUSP OF LAUNCH- WET TEST SCHEDULED FOR TOMORROW
CEO Alex Walsh has reviewed the progress made on the Ultrasonic Generator technology unit being built for its Valleyview Project in Alberta, Canada. The meeting in Pennsylvania included an overview of progress made to date, the timing of the final assembly process, the testing schedule for the unit, and engineering logistics surrounding the transportation of the unit to Canada and final installation. All parts of the unit have been completed and are in the final phase of measurement and testing for optimal performance. Preparations have been made to test the generator once it is delivered from the manufacturer. Mr. Walsh also traveled to New York to meet with private equity firms and investment banks about the potential for additional capital requirements once the generator is completed and has been successfully tested.
"The trip last week was extremely successful. Our technology partners have made significant progress on the ultrasonic generator for our Valleyview Project. We are in the final stages of building that unit. All that remains is the final milling of custom-made parts, down to measurements that can only be calculated in fractions of a millimeter. All of the components are ready for assembly, and once the final parts have been milled to specification, the unit will be delivered to the site in Pennsylvania where we will test the unit's capabilities. We're hopeful that that test will take place in the next few weeks but have not pinpointed an exact date. We'll be producing a video of the test of the unit to show our shareholders exactly what it can and will do for our project," commented CEO Alex Walsh. "We will have our initial resource estimate complete any day now and intend to spend the next few months commissioning a feasibility study to assess the technology unit application with the mineral processing technique. We have enough cash on hand to meet our obligations for the next year but want to be able to test this unit as soon as possible in order to move aggressively on expanding our strategy in Canada and growing our business." |
