RE:RE:Two strikes and no ballsThank you for sharing Zembala.
You are absolutely right.
Not only do they not want to solve the 'problem' it is obvious that they created it.
If this thing was as red hot as they said in all of their news releases an audit would be trivial.
It is evident that there is something wrong with the wunderkind Magnesium machine so they cooked up a reason to go dark.
There has been no shortage of money flowing into both the company and their pockets so that is pure BS.
If they don't have money to do a pidley auidit how would they ever come up with the cash for a full scale plant?
Ha, what a joke.
How stupid do they think their shareholders are?
Read the NR that they put out a month before they got suspended,
So they said that they planned to move head office to Nevada, build a new R&D facility there and in a few months build out the 25,000 MT commercial plant.
But they don't have the money to do an audit?
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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'Everytime they told me hopefully it will resume trading soon but I asked them if they have done the filing they said no because they need money to pay the auditing company.' Does anyone believe a word of that?
If they know that they 'don't have the money to get the audit done' then saying that they 'hope it will be trading soon' makes absolutely no sense since getting the audit done is a regulatory requirement to resume trading.
But then again neither does anything else that they have ever said.
It's like saying that you have no athletic skills but you hope to win Olympic gold in the decathalon soon.
I don't buy Lotto tickets but I hope to win Mega Millions.
They have been on a business trip for over a year?
Doing what, stand up? cuz these guys are hilarious.
I'd pay money to see these clowns doing their schtick.
No Money?
What happened to all this? (thanks Stockprobe, you're the BEST!) Post by
stockprobe19on Oct 15, 2023 2:07pm 
176 Views
Post# 35684428
NEWS
Western Magnesium debenture private placement
2023-10-13 17:48 ET - Private Placement - Debenture
The TSX Venture Exchange has accepted for filing documentation with respect to a non-brokered private placement announced on Oct. 28, 2022, and March 28, 2023.
Convertible debenture: $4,997,037 of unsecured convertible notes
Conversion price: convertible into units, each consisting of one common share in the capital of the company and one share purchase warrant at a conversion price of 12 cents of principal per debenture
Maturity date: 18 months from the date of issuance
Warrants: Each warrant shall have a term of 18 months from the date of issuance of the debentures and shall entitle the holder to purchase one share at an exercise price of 17 cents per share.
Interest rate: 15 per cent per annum
Number of placees: one placee
Finder's fee: none
Insider/pro group participation: none
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Post by
splitcoreon Oct 10, 2023 6:46pm 142 Views
Post# 35677855
Interesting reading.
Sherry and KTD, well written comments but you both seem to have missed my point even though it was rather clearly stated.
As you pointed out, WMG hasn't traded in nearly seven months. To novices such as myself, this would suggest that the company has become defunct. "Defunct" in the sense that it is no longer a functioning company (titsup if you prefer).
Now when someone writes a cheque for half a million dollars to buy into WMG at this point, I have to believe he or she is not a drooling idiot and that, instead, they are a serious, intelligent invester with hopes of a decent return on their investment. You can talk about past PP's when the company was trading and active, but that doesn't apply to this situation even remotely.
Split
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Would the drooling idiot please stand up.
Post by
splitcoreon Oct 11, 2023 2:26pm 96 Views
Post# 35679208
Chaff!
Except for "probe's" silly, meaningless, religious reference, I agree with him. You are so intent on bashing every aspect of this company that you aren't capable of understanding my simple, linear point. As Probe said, the halt should have been temporary. The fact that it went on for nearly seven months indicated they ran out of funds to finance the auditors, and then the time frame also strongly suggested that the company had folded (became defunct).
The Oct. 3rd announcement of an infusion of several hundred thousand dollars can only mean that the company is alive and that the financials will be released and trading will resume. Dont be juvenile and suggest the money will be used for any other purpose.
I won't write more on this so go ahead bash this post.
GLTA
Split
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Yup, ran out of funds to do an audit so Tha Tha that's all folks.
Thanks for comin you've been great, don't let the door hit ya where the good lord split ya!
Please show some luv and put a few beans in the can by the door.
- Temporary halt Ha ha
- The Oct. 3rd announcement of an infusion of several hundred thousand dollars can only mean that the company is alive and that the financials will be released and trading will resume. Ha ha
- Dont be juvenile and suggest the money will be used for any other purpose. HA !
Stop it, stop it, you are killing me !!!
Maybe ask Tweedle Dee and Tweedle Dumber if you can hit the comedy club with them and do a couple of sets.
Your act is pure gold, killer stuff.
Bash? ya right!