Western Magnesium Corp V.WMG.H

One week and counting.

[KonnectTheDots]

Would it not be wise for the company (and a show of good faith) to issue a statement explaining why the cease trade/halt/suspension order was applied, what is being done to remedy it and when they expect to be trading again rather than just staying silent?

As well as an apology to shareholders who are frozen out of access to their investment funds which may be needed for whatever reason.
Also to the damage to the reputation of the company that they have caused which affects every shareholder in real terms as deminished confidence in the company has a negative impact on its value.

A few words from the directors would go a long way to reassuring shareholders and possible potential investors that they actually are concerned about how people percieve the management.

Staying silent and acting like it's no big deal is making the company look even less competent and uncaring.

Just like you teach your kids if they do something wrong, admit it, don't try to hide or ignore it.
You don't compound the mistake by hoping it will just go away.

Sweeping things under the rug and acting like nothing happened isn't helping anything.
It's been a week and not a peep, if they had any intention of an explanation or apology it would have happened by now.

Obviously they are not going to do it on their own, maybe if prompted?
Or does every shareholder and potential investor have to call the company?

[Sherry35]

KTD - I'm wondering if the officers and executives have insurance. Given the large number lawyers and accountants in Vancouver, and the lawsuit from a Caribbean registered company, said individuals have there assets out of arms reach. Also, I would look for indemnification contract where the company insures officers and executives against on inapropriate actions short of the criminal code and

[Bigrig16]

Holy moly  Now you purport to give legal advice and form groups on a public forum. Some of the nonsense on here knows no boundaries! One sure has to question a confirmed none owner of stock, displaying such interest in promoting group legal action. Clearly something far more nefarious going on !

[Sherry35]

BigRig - Why don't you pay $12 for the Severs and GEM court cases, and put the public domain documents in a dropbox. I look forwrad to reading them. Better yet, the exec team can file the legal docs in SEDAR. Doesn't all this information belong to the WMG shareholders, under the Corporation Act? Aren't they entitled to see it? Can't use the NDA or top secret IP execuse. RGUS and

[KonnectTheDots]

Yes NN was a huge fiasco, it was the wunderkind of the Telecom boom way back when yet it never survived. 2000-2002: Nortel's market capitalization fell from C$398 billion in September 2000 to less than C$5 billion in August 2002, as Nortel's stock price plunges from C$124 to C$0.47. And that was a company with products, revenues and profits. Losing an accounting firms seems like a pretty

[Sherry35]

KTD - Could releasing the information lead to another  lawsuit? It's your investment - do as you please. None of this surprises me.

[KonnectTheDots]

Sherry, Not sure it matters either way. There would need to be a legitimate reason for a lawsuit, if it has merit it would succeed. How would being open with investors trigger a lawsuit? I don't think a lawsuit would help investors as you would be at the end of the line and they have nothing.  It looks like there are enough claims against them to put the lawyers kids through college

[Sherry35]

Interesting statement "enough claims against them to put the lawyers kids through college". The insult being it's PGM investor money going towards indirect activties (defense costs, court fees, accounting) and not direct activties (R&D). The decision is yours. I continue to have my douvbts that RGUS will deliver the expander having just completed a NG field trial in Alberta with

[RawSienna]

Trading will resume when the accountants finally sort out the lawyers lawsuit bills, that takes awhile for a company like WMG.