Not an excuse for cancelling AGM.What an absolute load of carp. WASHINGTON, D.C. – TheNewswire - November 22, 2022 – Western Magnesium Corporation (WMC) (TSXV:WMG.V); (Frankfurt-3WM); (OTC:MLYF) (“Western Magnesium” or the “Company”) announces the next Annual General Meeting of Shareholders (the “AGM”) will be held on March 7th, 2023.
The July 25th, 2022, August 3rd, 2022, and September 1st, 2022AGM’s were cancelled due to significant milestones that required additional time to complete which were relevant for discussions with shareholders.
If anything the fact that significant milestones have not been achieved is all the more a reason to hold the AGM to 'allow discussions with shareholders'.
They certainly are good at twisting and deflecting rather than being open and transparent.
'The July 25th, 2022, August 3rd, 2022, and September 1st, 2022AGM’s were cancelled'
So why now March ?
Why not a month delay as the others but 6 months?
Why?
Bad news?
Vacations?
Everyone quit?
There must be a good reason, why not inform your shareholders?
'The thing doesn't work' is a good reason to let everyone know.
Is that the reason?
Going dark with your pathetic radio silence just makes everyone assume it is anyway.
What are they not telling us?
This thing is beginning to smell.
No, that happened years ago, this thing reeks. Recent Trades - Last 10 of 27
Time ET Ex Price Change Volume
15:15:59 A 0.105 0.01 2,000
15:15:59 M 0.105 0.01 700
15:12:48 M 0.105 0.01 10
14:59:14 A 0.095 2,000
14:59:14 M 0.095 790
$200 on a good day.
That's a company that is going to
Want to hear a good joke?
Western Magnesium.
That says everything boys and girls.
Lisa still around?
Ashleigh?
WASHINGTON, D.C. – TheNewswire – June 29, 2022 – Western Magnesium Corporation (TSXV:WMG.V); (Frankfurt-3WM); (OTC:MLYF) (“Western Magnesium” or the “Company”) is pleased to report the production of magnesium metal at its commercial pilot plant, which was announced earlier this month, has been an overwhelming success. An inspection by the Company’s technical team and third-party trades has indicated that all systems have proven that the Company can continue with further production as it enters a secondary stage of increasing metal output and subsequent validation of the metal produced.
Ah huh, overwhelming success?
Ya, right, got it.
That's the reason you have cancelled three scheduled AGM's and slated the next one 9 months after when it was supposed to be held?
You obviously don't think some of your shareholders are idiots do you?
No, you think all of your shareholders are idiots.
If any of you had an ounce of integrity or know what being an ethical company that values it's shareholders by being honest, truthful, transparent and open you would have come clean and held the AGM when required and let everyone know where we, as the owners of the company, stand with regard to the questions being asked over and over again.
- first off, what significant milestones are you referring to when you cancelled the AGM for, nine months (so far) as there is no gaurentee it won't be cancelled again then.
- being such an 'overwhelming success' when will the process be fit for commercial scale magnesium production (assuming of course that is still the goal here)
- Where does the fabled 'Ohio' plant fall in terms of dates, permits, environmental studies. Is it still even in the works?
- Financing, how much has been secured for the full scale production plant that you said in a NR would happen 'next year'? Are there any prospects at all?
- It has been mentioned that there is a problem with 'the speed of continuous throughput' , that having been touted as a major breakthrough versus previous 'batch' process's, this would be a show stopper, no? Is this what is holding things up?
That would be a material change, better say so.
Here is the reference, a reliable and knowledgeable source. stockprobe19 (82)
October 24, 2022 - 02:31 PM
53 Reads
Post# 35044435
RE:RE:RE:RE:RE:RE:WMG slogan, World Class New TECHNOLOGY!!
KTD, do my statement contradict each other?? I thought you understood the process? The technology was proven with the processing of 99.83% purity Magnesium. It's the SPEED of the processing and the testing of it's constant purity that is being improved. How is that stalling? If you increase the speed of feed of materials it can cause problems that need to be addressed.
What are the 'problems' and how are they being addressed?
'Speed' refers to rate or volume produced per unit of time.
Below a certain 'speed' the process would be unprofitable so this is a huge issue.
It has to be of high purity, green, and able to be produced in sufficient quantity to be profitable.
Just being able to make some isn't proving anything.
WASHINGTON, D.C. – TheNewswire – June 7, 2022 - Western Magnesium Corporation (TSXV:WMG.V); (OTC:MLYF); (Frankfurt:3WM) (“Western Magnesium” or the “Company”) is celebrating unprecedented success in the production of magnesium metal at its commercial pilot plant. Management is excited that its proprietary continuous reactor is operating as designed, maintaining target temperature and pressure while allowing for continuous feed, discharge, and magnesium production. Achieving silicothermic reduction in a continuous reactor is a milestone that has never been accomplished globally to date, and the Company looks forward to the next steps of demonstration that will take place.
If it's not the holdup, tell us what is.
Issues, delays, problems are all to be expected in any new startup, even more so no doubt in a 'groundbreaking, revolutionary, game changing, blah, blah, blah' technology as this has been endlessly hyped (by Sam et al and in the award wining 'Metalution' video, or was it a science fiction flick?) as being but there is no excuse for not being honest and forthcoming in a timely manor with the owners of said technology. “It’s a thrilling time to be at the forefront of this manufacturing revolution,” said Western Magnesium’s Executive President & CEO Sam Ataya. “We have witnessed the birth of a new technology that puts us on the cutting edge of showcasing novel solutions and setting new standards for responsible “green” magnesium production and ending America’s reliance on China for a strategic mineral that we simply must have to ensure our national security. With this achievement, we are maintaining the path to providing long-term stable supply to both domestic and defense sectors within the United States.”
“These next few years will put America at the forefront of creating a stable supply of magnesium metal and will place Western Magnesium on a path to competing directly with China as domestic and global demand grows,” said Western Magnesium’s Global President and Chief Operating Officer Lisa Maxwell.
“It is a true honor to be at the helm of this innovative technology that has been years in the making,” said Western Magnesium’s Chief Technology Officer Paul Sauve. “We have worked tirelessly to ensure the efficacy of this unprecedented technology and strongly believe that it will ultimately meet production needs in an environmentally responsible and ecologically sound way.”
Western Magnesium’s technology which was developed in the commercial pilot plant is based on continuous silicothermic reduction and a proprietary collection system and is internally designed to refine the Company’s production methods.
Once refined, this scalable technology will be installed in a new facility in Harrison County, Ohio. The Company intends to begin construction of this full-scale facility next year and will produce more than 100,000 metric tons annually. The mega plant will have the capacity to produce 10 percent of the world’s current supply and will employ 250 full-time and five hundred support personnel in Harrison County. The Company will be reviewing all steps of the process to ensure efficient and successful project execution and completion.
Oh it's thrilling alright Sam, I've been tingling for over a decade.
“We have witnessed the birth of a new technology that puts us on the cutting edge of showcasing novel solutions and setting new standards for responsible “green” magnesium production and ending America’s reliance on China for a strategic mineral that we simply must have to ensure our national security. With this achievement, we are maintaining the path to providing long-term stable supply to both domestic and defense sectors within the United States.”
So you have 'ended our reliance on China for'...
OK, where is it?
Show us.
No, such a big breakthrough you canceled the AGM for 9 months and had a news blackout since spring.
Stop acting like kings in ivory towers and treating your shareholders and investors as serfs who fill your coffers so you have incomes, home, vacations.
Stop playing games, bragging about how you are 'ensuring our national security', cancelling required meetings and keeping people in the dark.
Your rediculous swagger and bluster do not jibe with actual results.
Neither does the exodus of your workforce.
Stop making outrageous claims that you can't deliver on and start answering questions.
The time to inform everyone of progress, problems and delays is now, not 9 months after when it was required.
Not doing so will only drive everyones value into the ground (except of course, yours, funny how that works)
Merry Christmas.