TSXV:WMG.H - Post by User
Post by
StockJockieon Dec 21, 2020 1:48am
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Post# 32150726
Financials
Financials
We are due up for year end financials. Western Mag year end is Oct 31st and it would be nice to see where they sit going into 2021 with metal on the edge of being produced. I'm a little concerned about the lack of income and the continued dilution of shareholders. It clearly states in their last report that all income is from private placements and warrants. We have another $750k worth of warrants expiring Jan 21st. at their 1 yr term. We saw the press last year about $210mil but to date it doesn't appear they have used any. Maybe the terms are less than favorable and what we need is another major financial play soon that will fund the next phase of growth. No more of these $5-7mil private placements which are just paying salaries and limping the company along. We need a game changing event that allows us to build the full scale plant on the site they picked.