TSXV:WMG.H - Post by User
Comment by
AucontraireIIon Jun 30, 2022 10:39am
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Post# 34793672
RE:RE:RE:[paid promotional message] - Western Magnesium
RE:RE:RE:[paid promotional message] - Western Magnesium
GH... I'd say you have to look between the lines to understand better. I am not saying what the share price should be nor what the value of the company is. But when they announce an "overwhelming success" at running the process, yet failed to provide an assay of the metal produced, the quantity of metal produced, the projected quantity of the metal to be produced in the near future, and really only assert that basically nothing exploded and so we are on track to run it again, this may provide an insight. All the while they have a highly bloated staff of people that don't do engineering or building, well in advance of any meaningful level of productivity, each of which must be paid every week out of an ever dwindling, always small bank account. For me, the market fears that by the time any substantial amount of metal can be produced, they will have spent so much money and will be in such a hole that it will take years beyond this to break even. What the reality is I don't know.... And obviously I am not happy about this as a shareholder, and that remains to be seen. And all of this of course assumes that their process works as flawlessly as they seem to think it will. But this is my take on why the market is hesitant at this point. It simply isn't a turnkey operation where they can start cranking out gobs of high quality metal once they flick a switch.