Western Magnesium Corp V.WMG.H

Total assets listed as 6,075,503 (pilot plant 3,946,315)

[RawSienna]

And an Accumulated deficit to date is 65,894,907

https://sec.report/Document/0001493152-22-016769/

 

The Company focuses on plant operations and magnesium production and continues to move towards the buildout of its pilot plant facility and the development of a full-scale commercial magnesium production facility. The Company also owns mining claims for the exploration and development of mineral property interests. Geographic information for the Company’s assets is as follows:

 

		April 30, 2022				October 31, 2021
		$				$
Canada – property, plant and equipment			3,946,315				2,546,383
United States – property, plant and equipment			31,304				28,321
United States – mineral property costs			93,453				93,453
			4,071,072				2,668,157
Canada – other assets			392,853				1,554,827
United States – other assets			1,611,578				290,528
			2,004,431				1,845,355
Total Assets			6,075,503				4,513,512

 

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Accumulated deficit to date is 65,894,907

As a research and development company they have no patents filed and claim they sublicense their technology from Big Blue TECH.....Where did the other 60 million go??

https://sec.report/otc/financial-report/213852

On June 26, 2018, the Company signed the definitive agreements and entered into a Sublicense Agreement and a Joint Services
Agreement, both with Big Blue Technologies LLC of Colorado (“BBT”). BBT has recently signed an exclusive license with the University
of Colorado respecting certain patents and processes owned by the University relating to producing magnesium, primarily using the
chemistry known as carbothermal reduction which BBT developed together with the University (the “BBT Process”). Under the
Sublicense Agreement, NCM and BBT will jointly develop the BBT Process and NCM will have an exclusive sublicense to utilize the
BBT Process so long as it pays license fees and meets certain other conditions.
Under the Joint Services Agreement, BBT and its scientific team will assist the Company in further developing and commercializing
the Company’s own process of producing magnesium, which unlike the BBT Process, uses either a silicothermic process or a
proprietary reductant (the “NCM Process”).
In July 2018, the Company contracted Industrial Surplus Ltd. (“ISL”) located in Fort St John, British Columbia, to build the newly
designed continuous silico-thermic reduction furnace. When Big Blue Technologies LLC. commences fabrication of its continuous
carbo-thermic reactor and liquid phase condenser, ISL will also provide technical support for instrumentation, electrical and
operational programing.
The Company signed a definitive agreement with The Stirling Group of Vancouver for an intial 6 month renewable contract for
consulting services intended to position the Company for future expansion into production of magnesium metal that meets market

And a patent was granted to The University of Colorado on 2020-11-10 and claims "The method can operate in a continuous or semi-continuous mode."
https://patents.google.com/patent/US10829834B2/en?oq=10%2c829%2c834

It would seem James Sever acted as a mentor to the Big Blue Team

https://www.juniorminingnetwork.com/junior-miner-news/press-releases/947-tsx-venture/wmg/29023-nevada-clean-magnesium-enters-into-memorandum-of-understanding-with-big-blue-technologies-llc.html

It would seem Big Blue Tech also has a aluminothermic pilot facility and a Magnesium pilot facility as well.
https://bigbluetec.com/news