Ed, Sam, update time.OK boys, waiting for financials to be audited is not a reason for a news blackout. WASHINGTON,D.C.–TheNewswire–February 8, 2023–WesternMagnesiumCorporation(WMC)(TSXV:WMG);(Frankfurt-3WM);(OTC:MLYF)(“WesternMagnesium”orthe“Company”)is pleased to announce the Commercial Pilot Plant is ready to move into the final stage of continuous metal production.
All necessary required mechanical upgrades identified during the initial optimization reactor runs have been completed, proving successful metal processing capabilities. The Commercial Pilot Plant will be ready to enter a continuous phase setting the stage for continuous metal production.
And so... ahh... what exactly are we waiting for?
Warmer weather so you can save on furnace fuel?
Jupiter to align with Mars ?
Executive Chairman, Ed Lee, states “After the successful initial run, we are confident moving into the continuous phase. This is an exciting time as we have been able to show success with initial optimization runs.” Exciting indeed!
Almost four months now, so whats happening with this?
We are all excited too and want to hear the good news! Executive President and CEO, Sam Ataya, states “We have been in discussions with multiple end users about metal production from our commercial pilot plant. Due to demand being very high and magnesium metal availability being scarce globally, and particularly in the United States, discussions with the end users have been escalated and we are working with end users to supply magnesium metal from our Commercial Pilot Plant.” Sam the man, how are both the 'discussions with end users' and the 'production from our commercial pilot plant' coming along?
You know the demand is very high, the world is depending on you guys.
Aren't end users frustrated that you can't supply anything? Which one of you straight shooters wants to take this one? WASHINGTON, D.C. - TheNewswire - October 18, 2021 - Western Magnesium Corporation (TSXV:WMG) (Frankfurt:3WM) (OTC:MLYF) (“Western Magnesium” or the “Company”) is pleased to announce that commissioning of the continuous pilot reactor is now complete. All electrical, instrumentation, and vacuum testing are complete, and the vessel is now ready to receive feed. The equipment used in this test will verify that our materials of construction are correct and confirm other very valuable data for our continuous operation that will follow after these tests are completed. Preparation of feed material is now underway with the operation of the reactor to follow.
Management’s goal in creating this new reactor is to develop a new generation of technology that we will include in the current commercial pilot plant and future facilities. This new reactor that is being tested at our partner facilities in Fort St. John, British Columbia is being developed not only for the commercial pilot plant which is currently under construction and on track in the Lower Mainland, British Columbia, but also for the 100,000 metric tonne commercial plant being built in Ohio.
We know it is being built because you said so in an official news release but we are dying for an update.
19 months since you announced that it is being built, is it operating already? (OMG sooo exciting!!!) You again Sam, Executive President & CEO, Sam Ataya says, “I’m excited to have the commissioning process finally behind us and I’m looking forward to our next steps. Not only will the new reactor be able to produce magnesium metal at our Fort St. John facility, but we will be able to expand production once our main commercial pilot plant is fully assembled and operational. These two separate events are coming to fruition in a timely manner according to management’s expectations.” Please define a 'timely manner'.
Is like a year and a half a timely mannor?
And the Ft St John reactor, update please.
'Expand production at our main commercial pilot plant'
So, is that the one that you are tearing down and 'moving' shortly after it was completed?
EXCITING!!! Executive Chairman, Ed Lee states, “The operation and results of this reactor will collect and confirm data from the various advanced technologies contained within it. This new reactor will be incorporated into the design of the commercial pilot plant and the units for the Harrison County, Ohio production plant.”
You guys keep talking about the Harrison County Ohio mega plants so please give all your shareholders a timely update (you know, the kind you told investors on the Zoom calls that you would be having frequently)
Or was that just venture exchange...'hyperbole'? (that's a good euphemism for what we all know it is, yeah, hyperbole)
You guys do know what the credibility of the directors, the company and the news releases are, right?
All one needs to do is go back and read them and see nothing ever materializes.
The commercial pilot plant didn't even run for six months (or did it?) before you announced that it would be 'moved'.
'the commercial Pilot Plant will be moved from its current site and moved to a new Research & Development facility'
So what is the status on that?
And again, you must know what the optics of that are, do you care?
Hard to hit a moving target, right?
Reminds me of the guy at the fair with the three cups, 'which one is the bean under'.
How about for once you just tell everyone what is really going on?
Or just keep hiding.
Its not like you can damage your image.
One more, Executive Chairman, Ed Lee, states, “The proprietary technology and software, which has been built specifically for our green process, is truly one of a kind. Our technology represents America’s best chance at bringing production of the much sought after magnesium metal, which has been identified as a critical metal by both industry and government, back to the United States.”
The value of our technical and software upgrades gives Western Magnesium the ability to have a full package solution for the licensing of our technology in the near future. Our proprietary technology is a one-stop solution for providing a green critical metal locally and globally. Again, 'near future' so let us know how this is going, sounds very exciting.
And a very wise business model.
Building a full scale plant would require huge financing, licensing the technology would be a way to get others to build out and the company would get a revenue stream.
How many prospective licensees are in the pipeline?
How soon could these full package one step solutions be ready? (seeing as you say it is in the near future, is that the same as a 'timely manner'?)
Some additional reading to add even more credibility: WASHINGTON, D.C. – TheNewswire – April 13, 2022 – Western Magnesium Corporation (TSXV:WMG.V); (OTC:MLYF); (Frankfurt:3WM) (“Western Magnesium” or the “Company”) is pleased to announce that it has engaged an accredited, independent valuation firm to provide an assessment of the Company, including its intellectual property, systems and controls, and market potential.
The valuation will challenge critical assumptions of Western Magnesium’s business model and technology and comes as the Company nears completion of a sophisticated commercial pilot plant. The in-depth analysis is expected to involve several weeks of scrutiny by skilled assessors, the results of which will be communicated to Western Magnesium’s stakeholders and commercial partners.
BLAH, BLAH, BLAH...filler to follow.
For over a century, magnesium metal has been coveted by the industrial manufacturing industry due to its enormous range of uses and importance. In today’s age where many of the concepts that apply to the word innovation are often based on improvements pertaining to lighter, faster, safer, and stronger, magnesium has never had a more vital role to play in technological improvements. The good news is that magnesium is relatively abundant in the United States, and as Western Magnesium continues its research into faster, cleaner magnesium production technologies, this will give the Company a true advantage as 85% of all magnesium production occurs in China. Their weak environmental practices, virtually non-existent regulatory oversight, and outdated mining practices result in the emitting of extremely high levels of toxic pollutants.
Executive President & CEO, Sam Ataya, stated “This valuation comes at an inflection point in the commercial and technological trajectory of the business. When significant global changes force us to rethink how to best do the things we do, or when significant global changes are needed to make us safer and more secure, it is almost always the case that technology and innovation lead the way to a better and more stable world around us.”
Chief Financial Officer, Ramsey Hamady, stated “An independent report by expert assessors is a critical component in the framework by which our stakeholders measure the value that our technology brings to the American economy and national defense space. We welcome the opportunity to present this valuation and to further engage our stakeholders in meaningful discussion.”
Nope, didn't do that either.
Wow, just more 'hyperbole' I guess.
Is there anything you can update us on that will actually happen?