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Latest Magma Stories

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2011-03-24 11:00:49

Researchers are hoping to attempt to drill into the Earth's mantle layer off the coast of Costa Rica in hopes of finding pristine samples of the earth's inner boundary, BBC News reports. With initial bore holes to reach 1.2 miles under the seabed to test equipment and techniques, the ultimate goal is to reach even further to retrieve deeper samples. It is estimated that at the chosen location, a drill must be able to reach almost 4 miles under the sea floor to reach the upper mantle....

2011-03-07 04:00:00

VANCOUVER, March 7 /PRNewswire-FirstCall/ - Magma Energy Corp (TSX:MXY) and Plutonic Power Corporation (TSX:PCC) today announced that they have entered into an arrangement agreement (the "Arrangement Agreement") to merge and create Alterra Power Corp. ("Alterra"), a leading renewable power producer, with a post-deal market capitalization of approximately $575 million. Under the terms of the Arrangement Agreement, each Plutonic shareholder will receive 2.38 shares of Magma for each Plutonic...

2011-02-17 21:45:39

When a team of scientists drilling near an Icelandic volcano hit magma in 2009, they had to abandon their planned experiments on geothermal energy. But the mishap could point the way to an alternative source of geothermal power. "Because we drilled into magma, this borehole could now be a really high-quality geothermal well," said Peter Schiffmann, professor of geology at UC Davis and a member of the research team along with fellow UC Davis geology professor Robert Zierenberg and UC Davis...

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2011-02-17 05:40:00

Geologists in Iceland discovered a big surprise while drilling an exploratory geothermal well in 2009 in the Krafla volcano:  the presence of underground lava, known as magma, flowing into the well at a depth of 6,900 feet (2.1 kilometers). "To the best of our knowledge, only one previous instance has been documented of magma flowing into a geothermal well while drilling," said Wilfred Elders, a geologist at the University of California, Riverside, who led the research team. Elders and...

2011-01-07 10:52:18

Collaborating with an international research team, an economic geologist from The University of Western Ontario has discovered how gold-rich magma is produced, unveiling an all-important step in the formation of gold mines. The findings were published in the December issue of Nature Geoscience. Robert Linnen, the Robert Hodder Chair in Economic Geology in Western's Department of Earth Sciences conducts research near Kirkland Lake, Ontario and says the results of the study could lead to a...

2010-12-22 18:03:00

VANCOUVER, Dec. 22 /PRNewswire/ - Magma Energy Corp. (TSX: MXY) advises that it has issued 24,808,569 shares to a subsidiary of Geysir Green Energy ehf ("GGE") pursuant to the conversion of the subscription receipt issued to GGE as part of the consideration paid by Magma Energy Sweden A.B. ("Magma") for the acquisition of its 98.53% interest in HS Orka hf.  Magma's obligations to GGE under the share purchase agreement are now complete. About Magma Energy Corp. Magma Energy...

2010-12-15 15:30:00

VANCOUVER, Dec. 15 /PRNewswire-FirstCall/ - Magma Energy Corp. (TSX:MXY) announces that it has extended its existing $10 million credit facility from Ross Beaty, its Chairman and CEO from a 12 month term to a 24 month term and has increased the amount available under the facility to $20 million. Draws will be made in tranches as necessary to meet working capital needs, particularly during the period that $28.8 million of Magma's cash resources are restricted under a four month bridging...

2010-12-14 23:56:21

While there continues to be considerable debate among geologists about the availability of oxygen in the Earth's mantle, recent discoveries by a University of Rhode Island scientist are bringing resolution to the question. Analysis of erupted rock from Agrigan volcano in the western Pacific near Guam found it to be highly oxidized as a result of its exposure to oxygen when it formed in the Earth's mantle. When, over millions of years, seafloor rocks are transported back into the Earth's...

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2010-12-13 13:50:00

By Pam Frost Gorder, Ohio State University Ohio State University researchers have found a new way to gauge the depth of the magma chamber that forms the Hawaiian Island volcanic chain, and determined that the magma lies much closer to the surface than previously thought. The finding could help scientists predict when Hawaiian volcanoes are going to erupt. It also suggests that Hawaii holds great potential for thermal energy. Julie Ditkof, an honors undergraduate student in earth sciences at...

2010-12-07 15:35:00

VANCOUVER, Dec. 7 /PRNewswire/ - Magma Energy Corp. (TSX:MXY) advises that Magma Energy Sweden A.B. ("Magma Sweden") has provided a payment of approximately ISK 3.08 billion (USD 27 million) to Geysir Green Energy ehf ("GGE") to fund the final payment owing under the share purchase agreement between Magma Sweden and GGE pursuant to which Magma Sweden acquired its 98.53% interest in HS Orka hf.  Magma has arranged a short term loan to provide funding for this payment which loan is...


Latest Magma Reference Libraries

28_b46b9ec00de524c00702bbc1d05bc0c9
2005-05-25 18:34:42

Scoria is a term used by geologists to describe an igneous rock containing many gas bubbles, or vesicules. Scoria forms when magma rich in dissolved gases is vented. As the magma encounters lower pressures, the gasses are able to escape and form bubbles. These bubbles are trapped when the magma cools and solidifies. Volcanic cones of scoria can be left behind after eruptions, usually forming mountains with a crater at the summit. An example is Mount Wellington, Auckland in New Zealand....

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Word of the Day
negawatt
  • A unit of saved energy.
Coined by Amory Lovins, chairman of the Rocky Mountain Institute as a contraction of negative watt on the model of similar compounds like megawatt.