TSXV:WMG.H - Post by User
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DiscordtoStock1on Sep 01, 2022 7:25am
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Post# 34934684
Morning Buzz: WMC lacks leadership to Navigate the Economy
Morning Buzz: WMC lacks leadership to Navigate the Economy
On the heels of Western Magnesium Corporation (V.WMG) inability to secure financing from any sources outside of Alpha Capital Anstalt from Liechtenstein (Contact: Konrad Ackermann), a new wave of concerns by their leadership are being cited for reasons why they cannot produce or verify the substance made in Canada May 2022 that they called "magnesium" or make any realistic headway in Harrison County Ohio Plant, which now seems to be another failed promise in a long line empty initiatives.
The company has cited numerous examples that included Covid, supply chain, economic slowdown, political struggles, lack of funding, stock market conditions, inability to up list on NASDAQ, no production contracts, loss of Accounting firm, high employee salaries, executives quitting over lack of salary non payments, and a host of other issues for reasons why they cannot show a profit after 10 years of trial and error. It would appear that there is much more error then anything else.
Shareholders continue to grow overly impatient without any company prospectus or forward guidance beyond what seems like operating day by day. Without an actionable path forward the company sits in a very dark and cloudy position trying to maintain the appearance of a serious company and player in the metal market. All we have seen to date is a overmatched executive team's inability to navigate the waters of a start up and failing miserably every step Western Magnesium Corporation (V.WMG) takes, thus reflecting new daily lows in volume and a declining stock price. When will this company make a change at leadership to effectively right this ship that has so badly gone off course?