Canada Markets closed

Western Magnesium Corporation (WMG.V)

TSXV - TSXV Real Time Price. Currency in CAD
Add to watchlist
0.1100+0.0050 (+4.76%)
At close: 03:59PM EDT

Yahoo Finance will soon be upgrading our Conversations message board platform to provide a better experience for our users. Only comments published since April 21, 2021 will be visible on Yahoo Finance after the upgrade. If you wish to download and save any of your older comments, please submit a request via the Privacy Dashboard by no later than Sept. 30.

Sign in to post a message.
  • P
    Phi
    Don't forget Israel ordered 5million booster doses with the option for 5 million more - enough to cover their entire population. They are a serious country when it comes to protecting their people.
  • c
    chris
    i see under .10 cents coming next week
  • l
    li
    any idea why the president of US Operations left?
  • M
    MARKYinJAPAN
    Another fraud company.
  • N
    Next
    Does WMG sublicense their tech from Big Blue Technologies?
    From WMG SEC filing

    https://sec.report/otc/financial-report/213852

    On June 26, 2018, the Company signed the definitive agreements and entered into a Sublicense Agreement and a Joint Services
    Agreement, both with Big Blue Technologies LLC of Colorado (“BBT”). BBT has recently signed an exclusive license with the University
    of Colorado respecting certain patents and processes owned by the University relating to producing magnesium, primarily using the
    chemistry known as carbothermal reduction which BBT developed together with the University (the “BBT Process”). Under the
    Sublicense Agreement, NCM and BBT will jointly develop the BBT Process and NCM will have an exclusive sublicense to utilize the
    BBT Process so long as it pays license fees and meets certain other conditions.
    Under the Joint Services Agreement, BBT and its scientific team will assist the Company in further developing and commercializing
    the Company’s own process of producing magnesium, which unlike the BBT Process, uses either a silicothermic process or a
    proprietary reductant (the “NCM Process”).
    In July 2018, the Company contracted Industrial Surplus Ltd. (“ISL”) located in Fort St John, British Columbia, to build the newly
    designed continuous silico-thermic reduction furnace. When Big Blue Technologies LLC. commences fabrication of its continuous
    carbo-thermic reactor and liquid phase condenser, ISL will also provide technical support for instrumentation, electrical and
    operational programing.
    The Company signed a definitive agreement with The Stirling Group of Vancouver for an intial 6 month renewable contract for
    consulting services intended to position the Company for future expansion into production of magnesium metal that meets market

    And a patent was granted to The University of Colorado on 2020-11-10 and claims "The method can operate in a continuous or semi-continuous mode."
    https://patents.google.com/patent/US10829834B2/en?oq=10%2c829%2c834

    It would seem James Sever acted as a mentor to the Big Blue Team

    https://www.juniorminingnetwork.com/junior-miner-news/press-releases/947-tsx-venture/wmg/29023-nevada-clean-magnesium-enters-into-memorandum-of-understanding-with-big-blue-technologies-llc.html

    It would seem Big Blue Tech also has a aluminothermic pilot facility and a Magnesium pilot facility as well.
    https://bigbluetec.com/news
    OTC Markets financial disclosure Management Discussion and Analysis - Nevada Clean Magnesium Q4 MD&A filed by Western Magnesium Corp.
    OTC Markets financial disclosure Management Discussion and Analysis - Nevada Clean Magnesium Q4 MD&A filed by Western Magnesium Corp.
    sec.report
  • K
    KK
    Get in now!
  • N
    Next
    Seems the USA lawsuit with Sever got pushed back to Aug 1st
    https://www.pacermonitor.com/public/case/44508086/Western_Magnesium_Corporation_v_Sever

    motion Extension of Time to File Answer Mon 07/18 10:18 AM
    MOTION for Extension of Time to File Answer re1 Complaint, by James Sever. Motion Hearing set for 7/18/2022 Without Oral Argument before Judge Thomas O. Rice. (Wagley, Andrew)

    order Order on Motion for Extension of Time to Answer Mon 07/18 11:09 AM
    ORDER: For good cause shown, Defendant's Unopposed Motion for Extension of Time to Answer12 is GRANTED. Defendant shall respond to the Complaint no later than 8/1/2022 . Signed by Judge Thomas O. Rice. TEXT ONLY ORDER; NO PDF ISSUED. (HH, Law Clerk)

    Were in court July 22 and got pushed back again. May be the cause for the video meeting delay this week, but I wouldn't think so because they are also fighting Sever in the Supreme Court of British Columbia, Canada
  • R
    Rodney
    They are offering stockholders tours of the pilot plant
  • G
    Guy
    Is that stock still worth anything ? or is it going down the drain?
  • G
    Guy
    Wmg sure does not give a shxxx about the investors I wrote to the useless investments manager pointing out that I had 250000 shares and would like to know their next move beside the shares loosing value
    NEVER got a response
  • N
    Next
    The Harrison plant is years away at the very least
    The Harrison plant (WMG commercial plant) needs the local power plant to be built in Cadiz to move forward, at this point in time they havn't even broke ground on it yet (local power plant) and it's a three year project at best. WMG has until Aug 3 2023 to back out.

    https://sec.report/Document/0001493152-22-017755/

    From SEC filing...

    "Real Estate Option Agreement

    Effective as of August 4, 2021, we entered into a Real Estate Option Agreement (the “Option”) with Harrison County Community Improvement Corporation, an unrelated party (the “Seller”), to purchase a parcel of land comprising approximately 122 acres in the Village of Cadiz, Harrison County, Ohio (the “Property”). We are entitled to exercise the Option at any time up until its expiration on August 3, 2023. The Option contains covenants, representations and warranties that are customary of real estate purchase and sale agreements including, but not limited to, completion of title work and a survey of the Property, an environmental audit, an engineering feasibility study of the Property, availability of certain utilities, obtaining permits, approval of the Option by our Board of Directors, our exercise of the Option and obtaining certain state and local economic incentives and tax abatements."

    Cadiz council and union arguing over who's going to build it if it ever lands...

    https://www.timesleaderonline.com/news/local-news/2022/03/union-pushing-for-local-labor-to-build-harrison-county-power-plant/
    From the article...

    "“At this point in time, to be frank, we’re more focused on getting it here. Now obviously, we’re going to watch out to make sure that there are responsible builders who know what they’re doing and we prefer them to be local, at least 50 percent anyway,” he said, adding that a concern he has is if the power plant and Dilles Bottom ethane cracker plant both get the green light at the same time.

    “There’s going to be a big worry about where these workers are going to come from. … If we can lock it up first, that would be great.”

    The 1,085-megawatt power plant was first announced in early 2020, though the project had been in the works for at least a few years prior. However, there has been little movement on the project since. The plant is anticipated to provide between 500 and 750 construction jobs during the approximately three-year construction period.

    According to prior reports, the power plant could break ground later this year."

    And Sam says...

    https://billjohnson.house.gov/news/documentsingle.aspx?DocumentID=403018

    Ataya said the cost to build the plant would be around $1 billion, but the 200 permanent jobs promised is just a start — it could mushroom into hundreds more if everything goes according to plan. And the plan also includes working in conjunction with the Harrison Power Plant that EmberClear has proposed for Industrial Park Road.

    Expectations on the power plant have dragged on for years, though there are indications that plans for the natural gas plant are still moving forward. When asked how much the power plant would affect the magnesium plans, Ataya said it is “part of the due diligence process.”

    I would estimate 5 years for commercial plant IF the local power plant gets built at all, or look for WMG to bail if no power plant gets built.
  • R
    Rodney
    better news and no positive movement
  • M
    MARKYinJAPAN
    Looks like a company that will be out of business soon.
  • G
    Guy
    Any idea where that stock is going beside the toilet
  • T
    Tony
    Darryl, thanks for your information! Please see my comment under Darryl’s information. Thanks!
  • T
    Tony
    Darryl,
    Thanks for the information once again. I had been slowly accumulating, but I will take a pause in moving forward with this as the whole of the project is in question in my mind now. There is too much dependent upon there actually building a power plant in the area. There seems to be a lot of foot dragging as far as the power plant and if there is no movement towards building it, then Western MG could back out of the deal as early as 2023. Way too many ifs to continue my periodic investments in this company at this point. I was quite excited by the prospects but looking into it further thanks to your input. I am putting a pause on this. I will go on with my silver, copper and lithium among other things and see how this hashes out.
    I do not want to invest in a boondoggle, which this could turn out to be, the closer I look into it.
    I do not like the idea of possible involvement in taking someone’s intellectual property either! This looked so promising and I even saw the President trying to get the company to come to Ohio and headquarter in D.C. I’m sure the administration may not even know these parameters or do they? Who really knows. I would be careful and skeptical.
    This makes me neutral to bearish at best now. I will hold what I have and wait for now
  • D
    Dave
    If you think these recent gains are great, just wait for what is coming. We will see exponentially massive gains very soon. We will see $1 in a matter of no time.
  • D
    Dale
    Decent volume today compared to their average over the last 3 months. Word about magnesium shortage and potential impact probably still making its way around. Hopefully won’t be long before this gets discovered by bigger players!
  • n
    nefoods1
    Why are we going down with this thing?
    We should be going up if “production ““ is to be starting soon
  • M
    Mike
    Oh yea, finally found a forum full MLYF investors. I can talk about this company all day..