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Bullboard - Stock Discussion Forum Western Magnesium Corp V.WMG.H

Alternate Symbol(s):  MLYF

Western Magnesium Corporation is a producer of green primary magnesium metal. The Company is focused on plant operations and magnesium production. It uses a continuous silicothermic process to produce magnesium with low labor and energy costs while generating minimal waste and toxic by-products. The Company's technology eliminates inefficiencies and allows for a continuous, mass production of... see more

TSXV:WMG.H - Post Discussion

Western Magnesium Corp > Operational Update
View:
Post by cabz on Nov 19, 2020 9:04am

Operational Update

 

ORIGINAL: Operational Update

 

2020-11-19 08:45 ET - News Release

 

(via TheNewswire)



NEW YORK, NY - TheNewswire - November 19, 2020 - Western Magnesium Corporation (TSXV:WMG ) ; ( Frankfurt-M1V ) ; ( OTC:MLYF) ("Western Magnesium" or the "Company").

Western Magnesium is pleased to announce the following update with regard to plant progression. Although the Company continues to operate at full capacity during these challenging times and made further complicated due to the resurgence of COVID-19 restrictions, we are continually assessing timelines for the completion of the plant. Our internal timelines and work in our office and staff have not been impacted by any ongoing new restrictions due to the continued challenges of COVID-19. However, we are working diligently to overcome interruptions and slow downs that suppliers we work with are facing. We are navigating through very difficult challenges yet we remain optimistic and confident that the challenges being faced at this time will be overcome.

At this time a great deal has been accomplished toward the build out of the commercialized pilot plant. Western Magnesium has obtained the required permits from the municipality to complete the required facility upgrades and construction. This will mitigate any future delays once we receive long lead items such as the Western Magnesium reactor.

To that effect, the following is taking place:

  • - Design Engineering is complete enabling us to move forward with the buildout of the reactor

    - All permits are in place and contractors, fabricators, and suppliers, which have been selected, can now begin the work on the plant facilities.

    - A portion of long lead items for the pilot plant are now complete and already shipped.

    - 14 new operational employees for the commercialized pilot plant have been hired and will start work at the facility on January 11 th , 2021

    - Finally, field engineering is underway allowing our construction contractors to commence immediately in our plant facility

Western Magnesium would like to thank our shareholders for their patience during a very difficult time. We also want to thank all the engineering firms, suppliers, and contractors for continuing to work with us despite the fact that they have been impacted by the ongoing challenges of the COVID-19 pandemic. Further, we want to thank our staff for continuing to work at full capacity during this time and their commitment to maintaining, as best as they can, the timelines that have been laid out by senior management. Western Magnesium will continue to provide updates on plant operations and build out, as we continue to assess and reassess timelines for the completion and operation of the commercialized pilot plant. We are very excited, with permits in place, to continue the work on the road to producing magnesium metal.

About Western Magnesium

Western Magnesium's goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.

Company Contact: John Ulmer | julmer@westmagcorp.com | 604-423-2709

Forward-Looking Statements

Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company's dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees . The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act"), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or "U.S. Persons", as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

For additional information please visit our website at www.westmagcorp.com

View our profile on SEDAR

Copyright (c) 2020 TheNewswire - All rights reserved.

© 2020 Canjex Publishing Ltd. All rights reserved.

Comment by AucontraireII on Nov 19, 2020 9:42am
of course I'm very happy to see this or any update, but was it my imagination or is there something missing and very inconspicuously so? How about an updated timeline for when the first magnesium will be produced by the pilot plant? From 4th Q to 1Q to 2Q to 3Q and now no Q.....??
Comment by Longshots777777 on Nov 19, 2020 10:55am
Aucon, They hired 14 operations personnel to start in January. I imagine they wouldn't hire them to sit around for months while they complete the plant. It's pretty safe to assume that q1 is still the production date.
Comment by AucontraireII on Nov 19, 2020 1:51pm
Wow LS7777, you rock! You were able to combine the starting date of January 1st with the number 14 employees and conclude that we will be having magnesium out the door in the first quarter! That's impressive indeed. Should we conclude that had they hired 39 people that they would soon be turning lead into gold? Is there any reason why it should be left to US to make such guesses when all they ...more  
Comment by Longshots777777 on Nov 19, 2020 3:00pm
Aucon, you even read the press release? January 11th they start, the talk about delays on long lead items because of covid shutdowns. Nothing major as of yet though, they have continually said q1, pushed back from the end of this year. Sam in his recent talk created some confusion because he didn't say q1, he said 2021, sows some doubt but I think you are overanalyzing every word as maybe he ...more  
Comment by AucontraireII on Nov 19, 2020 5:22pm
LS7777, I don't think that asking a logical question where there has been an omission of some significant importance is sowing doubt needlessly nor is it flying off the handle in my opinion. You are not correct that they have continuously said 1Q...in fact in a recent interview Sam said first production in 3 to 6 months and then literally 10 seconds later he said 6 to 9 months. So what are we ...more  
Comment by Thebigbully7777 on Nov 20, 2020 7:05pm
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