RE:Is it the technology???'Maybe, just maybe , the technology doesn't work like it's supposed to / claimed to be able to' So you just fade off into the sunset without a word?
No matter what the reason is an honest, responsible company with honest reputible directors doesn't just claim some obviously bogus excuse and never give updates.
Do you think, maybe, just maybe that would be 'material' and maybe, just maybe shareholders should know (especially new ones)
Would you put up any money if you were told by Lisa Ed or Sam ''the 'technology' doesn't work but we need money so we can pay ourselves and stretch this out a while longer''?
And what was Ed's reason for the temporary halt? WASHINGTON, D.C. – TheNewswire - March 17, 2023 – Western Magnesium Corporation (WMC) (TSXV:WMG.V); (Frankfurt:3WM); (OTC:MLYF) (“Western Magnesium” or the “Company”) clarifies the Cease Trade Order (“CTO”) dated March 6, 2023.
The Company submitted its financial statements to the audit firm in mid-February. Since that time, Western Magnesium has been waiting for the review to be completed by the auditor. This delay is caused by the transition to the current audit firm.
The CTO will remain in place until such time as the audited annual financials are filed by the Company.
The British Columbia Securities Commission (the "BCSC") issued a general "failure to file" cease trade order pursuant to National Policy 11-207 – Failure to File Cease Trade Orders and Revocations in Multiple Jurisdictions (the "CTO") dated March 6, 2023 with respect to the securities of the Company as a result of the Company’s inability to file its audited financial statements for the year ended October 31, 2022, the related management's discussion and analysis and CEO and CFO certificates (collectively, the "Annual Filings") by the prescribed deadline of February 28, 2023.
On behalf of the board of directors,
“Ed Lee”
Ed Lee
Executive Chairman
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Nothing about the tech not working.
If you think that, maybe, just maybe this wasn't the reason for disappearing and as you say the technolgy not working is the reason then that it is OK just to never be heard from again?
So are you defending the company?
That what they have done is OK?
Read all the news releases, nowhere does it ever say the technology doesn't work, so were they lying?
Quite the oppopsite actually. WASHINGTON, July 14, 2022 (GLOBE NEWSWIRE) -- Western Magnesium Corporation (WMC) (TSXV: WMG.V; Frankfurt-3WM; OTCQB: MLYF) (“Western Magnesium” or the “Company”) has received metal purity results from the second calibration process run of unrefined magnesium metal direct from the commercialized pilot plant.
The third-party metal purity analysis was conducted using Laser Ablation ICP Mass Spectrometry at FiLTER – Fipke Laboratory for Trace Element Research, located at the University of British Columbia Okanagan in Kelowna, BC, Canada.
The metal purity analysis resulted in a magnesium concentration of 99.62%.
Edward Lee, Executive Chairman, said, “The received purity results continue to exceed our expectations and validate without a doubt more than 11 years of research and development. When our proprietary process is fully upscaled it will eventually supply and give American industry the comfort knowing there is a domestic producer of magnesium metal that they can finally rely on for years to come.”
OK, so where is it?
And then there is this: WASHINGTON, D.C. – TheNewswire - February 21, 2023 – Western Magnesium Corporation (WMC) (TSXV:WMG.V); (Frankfurt-3WM); (OTC:MLYF) (“Western Magnesium” or the “Company”) is pleased to announce its plans for expansion and buildout of an initial 25,000 metric tonne commercial plant and a Research & Development Centre in Nevada. After careful consideration and analysis of different sites within other Western US States for the expansion, Nevada was selected as the future plant site for West Coast operations.
Our technical and corporate team have spent the last eight months planning our expansion on the West Coast. Over the next six months, after the continuous operational runs are completed, the commercial Pilot Plant will be moved from its current site and moved to a new Research & Development facility giving us the ability for expanded production of magnesium metal, and to develop new alloys and IP with the different industries we are currently in discussions with such as the automotive, aerospace, airline, eco-friendly technology companies and Defense Contractors. The new Research & Development facility will also help facilitate the buildout of the initial 25,000 metric tonne commercial plant in Nevada.
Nevada is an ideal location due to its dry arid climate for the securing and stockpiling of magnesium metal ingot as identified in the US Government critical metals supply list which aligns with our plans for the development of our own resource at the Tami Mosi site in Ely, Nevada. Nevada’s favourable tax environment coupled with its expedited licensing and approval process makes it an ideal location for our expansion on the West Coast. Backed by a highly educated workforce and its expanding infrastructure, it will support our economic industrial buildout. Other aspects such as competitive utility rates for commercial operations and an abundance of economic commercial real estate, Nevada is an ideal location to build out our initial 25,000 metric tonne commercial plant. Its idyllic location is a one-day drive to five major US ports serving the Pacific Rim.
Over the next few months, Western Magnesium will also be relocating its West Coast head office to Nevada to manage an expedited timeline for the Research & Development facility and the buildout of our initial 25,000 metric tonne commercial plant.
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Next six months, next few months?
Sure sounds like they had a good process and plans, were they lying?
The financials were said to be the reason for the halt.
Could not filing financials cause the 'technology' to stop working?
Regardless of the real reason this company has gone dark for over a year there is no excuse for just disappearing into a black hole.
You got problems, you tell the owners of the company.
These clowns just run it.
The directors are liaable for their actions.
If it takes a lawsuit so be it,
It's immaterial if there isn't any compensation for shareholders, there is something that smells bad here and directors should not be allowed to just walk away unscathed.
Anyone that runs a company like this should never be allowed to be involved in any other, ever.
Where are all the pumpers that always said how honest and ethical the insiders are?
'Just call the company if you want to know what is really happening' they would say.
Is that how an honest company runs, no official news just give us a call we will tell you what you want to hear.
Crickets.
Has anyone talked to or heard from anyone in the company.
No worries, the technology just doesn't work, whew, at least they are off the hook.
Not long now!