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MLYF - Western Magnesium Corporation

Discussion in 'Penny Stocks' started by Stockjockie, Sep 2, 2020.

  1. Stockjockie

    Stockjockie New Member

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    Here is a copy of the most recent press release. This will be a break out stock over the next 2-3 years. They will be producing magnesium by the end of 2020. Target price is $1.00 by year end with uplisting to Nasdaq within 18 months. They are finishing S-1 reporting to start that process.

    I'm holding for long term gains. I've been invested 1 year and already seen a 300% gain on my money. If you hold long term this will be generational wealth which is my plan.

    WESTERN MAGNESIUM OBTAINS PILOT PLANT LOCATION

    NEW YORK, NY – TheNewswire – September 1, 2020 – Western Magnesium Corporation (TSXV:WMG) (FrankfurtM1V) (OTC:MLYF) (“Western Magnesium” or the “Company”) is very pleased to announce that it has finalized and obtained a location for its commercial pilot plant.

    The plant will be in the lower mainland with close proximity to the downtown core, major transportation routes and the airport. The building itself is new and meets all the specifications and zoning needed to build the entire plant. The technical team is excited about the environment and are now going through their last stages of preparation to start moving into the new facility. Mr. Paul Sauve says, “This is an excellent facility that will provide all the required amenities necessary for a successful pilot plant campaign.”

    Mr. Sam Ataya commented, “This is a great achievement for Western Magnesium as it has met one of its important milestones in Phase 2 as it continues to move forward towards production of magnesium metal by the end of the year, into the New Year. This critical step not only gets us closer to production, but also gets us closer to end-user testing and certification and being a supplier to the various industries that require magnesium such as the automotive, aerospace, government and eco-friendly industries. This commercialized pilot plant will lay the foundation for all the commercialized plants to follow across Canada and the United States.”

    About Western Magnesium

    Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and lightweight qualities. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces manufacturing and energy costs relative to current methods and processes, while being environmentally friendly.

    Company Contact

    David Melles
    [email protected]
    604-423-2709

    Media Contact

    Katie Kennedy
    [email protected]
    610-228-2128

    Forward-Looking Statements

    Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward-looking information except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements. These forward-looking statements are made as of the date of this news release.

    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

    For additional information please visit our website at www.westmagcorp.com

    View our profile on SEDAR
     
  2. Jean Labbe

    Jean Labbe New Member

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    will follow closely...
     
  3. Stockjockie

    Stockjockie New Member

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    With the COVID pandemic happening, it has highlighted our need to be self-sufficient as a country. The Trump administration has placed Magnesium as one of the United States critical metals. The majority of the world's Magnesium is produced by China. When trade wars and pandemics hit, there is a halt of precious metals that flow into the United States.

    Recent news by Tesla has made it clear the auto sector plans to use Magnesium in their batteries because it is a cheaper alternative to current methods and materials. Can Tesla count on China for the raw materials, no. Being at the mercy of a foreign country doesn't suit American companies very well. Once Western Magnesium has their furnace up and running companies like Tesla will be racing to buy up all the Magnesium that Western Magnesium can produce.

    Have you seen the run up on Tesla stock? Imagine if Western Magnesium was the company supplying all the Magnesium for their cheaper and lighter batteries. There hasn't been a new Magnesium Plant built in the United States in over 40 years. The few remaining plants are extremely toxic and pollute the environment. Western Magnesium has found the magic formula and tech to make a zero waste, non toxic plant. 2 years ago the EPA has signed off on the design and offered to push through permitting of this new environmentally friendly process.

    Mark my words now, you will not want to miss this opportunity to get in while the price is so low. S-1 reporting will be wrapping up soon and actual metal produced by Mid December, early January.

     
  4. Stockjockie

    Stockjockie New Member

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    This is a must watch and you will hopefully understand why this company will be the next runner.

     
  5. Stockjockie

    Stockjockie New Member

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    Western Magnesium announced today that all building permits have been approved and the buildout of their commercial pilot plant is underway. They stated they have some delays on parts from vendors but they have staff and vendors working to finish the plant. Plant operators are in place to start January 11th, 2021 once the plant is finished. We should have metal produced in q1 but I'm guessing around the end of January. Once there is physical metal produced there won't be anything to stop this company. Better get in now.


    https://westmagcorp.com/operational-update-4/
     
  6. Stockjockie

    Stockjockie New Member

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    Another deep dive into the web found a video that hasn't been publicly posted as of yet. Here is a quote directly from Western Magnesium in their financial report:

    "In 2019, the Company signed a letter of intent for the potential purchase of a former smelter site in the state of Washington, USA. The Company was granted access to the site to perform certain due diligence activities in furtherance of the proposed acquisition. The acquisition did not complete and the Company is renegotiating the letter of intent. During the year ended October 31, 2019, the Company incurred $515,518 in connection with this investigation and another $20,106 during the period ended January 31, 2020."

    Synapses, from October 2018- October 2019 they spent $515,518 on the old smelter site in Addy Washington. From October 2019 to January 2020 they spent $20,106. We don't have current figures from Jan 2020 to current. I'm not entirely sure if they are moving forward with Addy but at this point after spending $535k we sure hope we are on the edge of acquisition of the site.

    Maybe we are on the turning point. Maybe this is what we have all been waiting for. Maybe a giant finance deal or acquisition would move the needle. I know I haven't been too hopeful but I just post what I find. Sometimes good and bad. Let's hope these dots line up here and we see a positive outcome finally.

    Here is the video:
     
  7. Stockjockie

    Stockjockie New Member

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    Peter O’Rourke has been hired to the board to push this company towards its goal of becoming the leading producer of magnesium in the United States and around the world. There will be massive press coming soon.

    https://westmagcorp.com/operational-update-5/

    OPERATIONAL UPDATE

    NEW YORK, NY – TheNewswire – November 30, 2020 – Western Magnesium Corporation (TSXV: WMG; Frankfurt-M1V; OTCQB: MLYF) (“Western Magnesium” or the “Company”) is pleased to announce the addition of new board member, Mr. Peter M. O’Rourke Sr.
    Recently he was the acting Secretary of Veterans Affairs for the US government. Mr. O’Rourke led the department overseeing over 380,000 employees and was responsible for executing a 196-billion-dollar budget. He began his service with the VA as Senior Advisor to the Secretary moving up to the position of Executive Director for the Office of Accountability and Whistleblower Protection and then promoted to VA Chief of Staff. In these roles he organized VA’s senior staff and spearheaded the implementation of Presidential and Congressional intent to reset the definition of accountability in the civilian workforce and operationalized the protection and support for government whistleblowers.
    As a veteran himself, Mr. O’Rourke served in the U.S. Navy and Air Force with multiple assignments worldwide. In his last assignment he served as a Supply Chain Manager at Headquarters Air Force Material Command, Wright-Patterson AFB, Ohio being recognized as a high-performing expert in multiple supply chain and logistics, and is well versed in the difficulty in securing magnesium and other critical metals.
    Mr. O’Rourke was Director for Marketing and business development for Accenture Federal Services located in Washington, DC leading the development and execution of global strategic and operational marketing and business development activities for new acquisitions and executed multimedia events supporting business-wide marketing campaigns.
    From August 2019 – March 2020 he was the Executive Director for the Republican Party of Florida and is currently, the founder and managing partner of TCI Partners located in Washington, DC providing specialized services in the areas of Federal and State Government relations, Healthcare and Aerospace industries.
    Executive Chairman Edward Lee comments, “I am very pleased with his appointment acceptance which demonstrates the beginning of next steps towards the Company’s overall objectives. Mr. O’Rourke’s outstanding professional career brings experience which will aid Western Magnesium’s vision of becoming a magnesium supplier for US industries.”
    Mr. Sam Ataya, Executive President & CEO says, “With Mr. O’Rourke vast experience managing large institutions, both private and public, along with his experience and knowledge of the metals industry and supply chain makes him a perfect fit for Western Magnesium’s implementation and buildout of our commercialized plants across the United States.”
    Peter O’Rourke states “I’m honored to join this innovative team of experts and look forward to helping expand Western Magnesium’s growth. The availability and production of magnesium is a critical capability and I look forward to contributing to Western Magnesium’s continued success.”

    About Western Magnesium
    Western Magnesium’s goal is to be a low-cost producer of green, primary magnesium metal, a strategic commodity prized for its strength and light weight. Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and energy costs relative to current methods and processes, while being environmentally friendly.
    Company Contact: John Ulmer | [email protected]agcorp.com | 604-423-2709
    Forward-Looking Statements
    Statements in this news release that are not historical facts are forward-looking statements that are subject to risks and uncertainties. Actual results may differ materially from those currently anticipated due to a number of factors, including the Company’s dolomite reserves may not be mined because of technical, regulatory, financing or other obstacles, the market price for magnesium may make our resources uneconomic and we may not be able hire and retain skilled employees. The Company undertakes no obligation to update forward‐looking information except as required by law. The reader is cautioned not to place undue reliance on forward‐looking statements. These forward-looking statements are made as of the date of this news release.
    Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
    This news release does not constitute an offer to sell or a solicitation of an offer to buy any of the securities described in this news release. Such securities have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and, accordingly, may not be offered or sold within the United States, or to or for the account or benefit of persons in the United States or “U.S. Persons”, as such term is defined in Regulation S promulgated under the U.S. Securities Act, unless registered under the U.S. Securities Act and applicable state securities laws or pursuant to an exemption from such registration requirements.

    For additional information please visit our website at www.westmagcorp.com
    View our profile on SEDAR
     

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