Tickers: XTSX:WMG, XOTC:MLYF, FRAA:M1V, PINX:MLYF
NEW YORK, NY - TheNewswire - April 14, 2020 - Western Magnesium Corporation (TSXV:WMG) (Frankfurt:M1V) (OTC:MLYF) ("Western Magnesium" or the "Company") is pleased to announce that it has started the build out of our first commercialized pilot plant.
Led by our technical team of Robert Odle, Chief Process Engineer and Paul Sauve, VP, Operations, Western Magnesium has already contracted an international engineering firm to assist in the design and procurement of the pilot plant. Key activities, such as, process design, flowsheet development, process modeling, and mechanical design are well under way and management feels strongly that the project is moving in the right direction and will meet our projected timelines for completion. Western Magnesium will achieve its goal of producing magnesium metal by the end of 2020.
This is a stepping-stone to move the Company forward in producing the first run of metal that will be used to carry out end-user industry testing as well as obtain industry certification by the automobile, aerospace, and airline industries, and also the government and military.
With this foundational work under way, Western Magnesium Corporation is well into its operational activation phase of its strategy. With the finish line in mind, all hands are on deck from the finance, operations, and IR perspective as the company forges ahead at an accelerated pace.
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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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.
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.
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