Western Magnesium Corp V.WMG.H

Alternate Symbol(s): MLYF

Metals & Mining Industrial Metals & Minerals

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

Western Magnesium Corp > It gets worse. Financials out on SEDAR

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Comment by AucontraireIIon Apr 03, 2021 2:58pm

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Post# 32934074

RE:It gets worse. Financials out on SEDAR

Executer99 wrote: they have 80k in cash with large debt

Terrible quarter. 2.8 million dollar loss in 3 months !!!!!!

Only 105k of equipment purchased. These guys are Joke and our burning your money bad.

This will be at 9-10 cents next week.

They have some.more more money coming in this week 1.5 million but this cannot stop this outrageous unacceptable BURN. B.S. guys. 2.8 per quarter. Holy cow

What else can we conclude except something has got to be up and it doesn't sound good. We are now two full quarters past what they had said last year might have been first pilot production of magnesium...4Q '20. Ok so Covid happened and now, well into this year, I still don't know a hard first production date or even how far along the pilot plant is in any meaningful way ... not to mention they can't fill even a modest private placement. I'll stop short of drawing any conclusions from this, but do I need to draw any?

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