Operational Update
2020-11-19 10:47 ET - News Release
Mr. John Ulmer reports
OPERATIONAL UPDATE
Western Magnesium Corp. has provided 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, Western Magnesium is continually assessing timelines for the completion of the plant. Western Magnesium's internal timelines and work in the company's office and staff have not been impacted by any continuing new restrictions due to the continued challenges of COVID-19. However, Western Magnesium is working diligently to overcome interruptions and slowdowns that suppliers the company works with are facing. Western Magnesium is navigating through very difficult challenges, yet the company remains 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 buildout 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 the company receives long-lead items such as the Western Magnesium reactor.
To that effect, the following is taking place:
- Design engineering is complete, enabling Western Magnesium 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.
- Fourteen new operational employees for the commercialized pilot plant have been hired and will start work at the facility on Jan. 11, 2021.
- Finally, field engineering is under way, allowing Western Magnesium's construction contractors to commence immediately in the company's plant facility.
Western Magnesium would like to thank its shareholders for their patience during a very difficult time. The company also wants to thank all the engineering firms, suppliers and contractors for continuing to work with Western Magnesium despite the fact that they have been impacted by the continuing challenges of the COVID-19 pandemic. Further, Western Magnesium wants to thank its 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 buildout as the company continues to assess and reassess timelines for the completion and operation of the commercialized pilot plant. Western Magnesium is very excited, with permits in place, to continue the work on the road to producing magnesium metal.
About Western Magnesium Corp.
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 labour and energy costs relative to current methods and processes, while being environmentally friendly.
We seek Safe Harbor.
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