Tickers: XTSX:WMG, XOTC:MLYF, FRAA:M1V, PINX:MLYF
NEW YORK, NY - TheNewswire - April 21, 2020 - Western Magnesium Corporation (TSXV:WMG) (Frankfurt:M1V) (OTC:MLYF) ("Western Magnesium" or the "Company") is happy to announce that it has engaged an international real estate company to secure a facility for the sole purpose of advancing its Research & Development program. This site is a standalone facility that will begin operations by the end of July 2020 to develop the technical information required for our commercialized pilot plant in order to meet our target of producing magnesium metal by the end of 2020.
Our extensive and comprehensive Research & Development schedule will be carried out concurrently with operational activities that include feed material prep & optimization as well as building & running of the commercialized pilot plant.
Under the supervision of Mr. Robert Odle, Chief Process Engineer and Mr. Paul Sauve, VP Operations, the current phase of research is focused on optimizing the reactor feed material to ensure a safe and efficient continuous operation of the pilot plant. The bulk of current global magnesium production is based on various types of batch processing systems, while Western Magnesium is innovating then optimizing a continuous & efficient processing system that will be one of the key competitive advantages for our company. The Research & Development team has already started producing feed material at various component ratios to determine the optimal composition and shape to meet our objectives. The team will take samples through various sets of tests to confirm material flow dynamics.
Western Magnesium is encouraged by the Research & Development's achievements thus far and is optimistic that it will not only stay on schedule but also be able to deliver on its milestones based on the operational plan that is in place. As the team continues to forge ahead towards its strategic markers, the company will update shareholders on a timely basis.
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 Unlike outdated and costly production processes, Western Magnesium looks to use a continuous silicothermic process to produce magnesium, which significantly reduces labor and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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