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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 magnesium. Its magnesium is used for technological advancement opportunities for American industries including auto, airline, aerospace, and protecting national security interests with the department of defense.


TSXV:WMG.H - Post by User

Bullboard Posts
Post by regshareholderson Jan 29, 2017 6:07pm
105 Views
Post# 25770224

Who actually paid for the new reductant testing program???

Who actually paid for the new reductant testing program???Here is some background information before I get to my point. "As per the recently signed Joint Venture agreement announced June 22, 2015, NCM has contributed $3,000 USD for administrative costs and the acquisition of 25% Meloy Innovation and Technology Centre AS, ("MITC"), a Norwegian technical development company formed by ScanMag As and two of ScanMag's partners, Meloy Naeringsutvikling AS and MNU Meloy Innova AS. Each partner will now have a 25% interest in the company, with NCM and ScanMag sharing 50/50 on all the intellectual property and the technical developments. Edward Lee, CEO is to be appointed to the board of MITC representing NCM."

The NVM PR release states "Meloy Innovation and Technology Centre AS (MITC), would be responsible to pay for the new reductant testing program completed by the research lab at the University of Colorado, for the salary and travel costs of Mr. Sever to directly oversee that testing, and contribute $20,000 toward the fabrication of Nevada Clean's bench-scale furnace. ".

If MITC is partially owned by NVM, and ScanMag is experiencing funding issues, who paid for the reductant testing program, salary, travel costs and furance fabrication (paritial)? NVM? The two partners?

There seems to be a lot of players involved. Walks like a duck, quacks like a duck, must be a RRE oil feathered bird with web feet...


Bullboard Posts