Western Magnesium Corp (OTCMKTS: MLYF) Powerful runner as a magnesium pioneer aims to become the world’s most cost-effective manufacturer of green, pure magnesium
Western Magnesium Corp (OTCMKTS: MLYF) has made a historic rise in the charts from well under a cent to recent highs near the $ 1 mark in the past few months. MLYF is rapidly becoming the volume leader in small caps, attracting legions of new shareholders, including some heavy hitters on the OTC. Currently under heavy accumulation, MLYF is steadily moving north with many new investors buying in every day. The stock is a powerhouse and continues to move north with strength and determination.
The company is focused on becoming the world’s most cost effective manufacturer of environmentally friendly, high quality magnesium. MLYF has developed a proprietary technology that creates a purer form of magnesium, unlike the Pidgeon process, which results in a less pure magnesium. Western Magnesium has just completed the expansion of its magnesium reactor. This is a significant and highly anticipated milestone for the company. Executive Chairman, Ed Lee, stated, “This reactor unit is a significant step forward that will allow the company to enter the market with its proprietary continuous capacitor and secure the future of Western Magnesium for decades to come.” The initial metal production will allow management to work closely with end users in the automotive, aerospace and green tech companies and the Department of Defense to assess the amount of metal needed for their assembly line production and the form in which they will use it Need metal.
Western Magnesium Corp (OTCMKTS: MLYF) (TSXV: WMG) (Frankfurt-3WM) aim to become a low cost manufacturer of green primary magnesium metal, a strategic raw material valued for its strength and light weight. In contrast to outdated and costly production methods, Western Magnesium tries to use a continuous silicothermal process to produce 99.9% pure magnesium, which significantly reduces labor and energy costs compared to current methods and processes while being environmentally friendly. Technology is at the heart of Western Magnesium’s business and the result of 10 years of clandestine research and development in its original location in British Columbia, Canada. The company’s R&D team consists of world leaders in magnesium production, expertise and research since US magnesium production after World War II; when America led the industry. The company has raised funds well in excess of US $ 5 million in several private placements and offers over the past several months.
MLYF has developed a proprietary technology that creates a purer form of magnesium, unlike the Pidgeon process, which results in a less pure magnesium. The company’s technology overcomes the inefficiencies of current production methods that require large amounts of resources, are time consuming, risky and very labor intensive. The proprietary MLYF technology uses a continuous silicothermal process to produce (99.8%) pure magnesium. The process begins with degraded dolomite (calcium-magnesium-carbonate), which is crushed and calcined (thermal decomposition) to form magnesium oxide (MgO). The MgO is combined with ferrosilicon, a reducing agent and a catalyst and formed into briquettes. The briquettes are fed to the newly designed once-through reactor and heated there. This allows the silicon to react with oxygen and reduce the magnesium to metal. The evaporated Mg is collected and removed as molten Mg using a proprietary Mg recovery system specially designed for this process. The company uses significantly less energy as nature eliminates temperature cycles. The company uses electrically powered calciners, heat recovery systems and a method of recovering CO2 from the calcination step, which further reduces the ecological footprint and increases efficiency.
$ MLYF 👀 Back 2 Explosive days off base with lots of volume.
– SPECUL8T0R (@ PennyHo9) August 3, 2021
$ MLYF has seen some monster wins lately and it’s growing to be a lot more. Don’t be late for the party. https://t.co/ur09KHnyB9
– JrMagnesium (@JrMagnesium) August 4, 2021
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Western Magnesium recently completed the expansion of its magnesium reactor. This is a significant and highly anticipated milestone for the company and has accelerated the company’s internal schedule for magnesium metal production. Because we focused on metal production until the end of 2021In the next 30 days, testing will begin on his own new reactor. Management is satisfied with the progress made so far and is excited to begin this next phase. The commercialized pilot plant is currently in the final stages of construction and all necessary equipment and supplies have been completed and ordered so that the operations team can develop an updated baseline plan. Management and staff have worked diligently to speed up this testing phase and we are confident that we can start production with the new schedule. Additional feed equipment has arrived at the facility and is operational, so the operations team can begin optimizing the composition and size of the feed material.
This furnace will be the first of its kind and will be an important step towards the continuous operation of a silicothermal reactor system from an open atmosphere to a closed vacuum chamber. This is a very disruptive technology with controllable parameters from an efficiency, energy and environmental point of view. A continuous internally heated reduction furnace of this type in conjunction with the proprietary Western Magnesium Condenser enables maximum continuous production from the pit or dump to magnesium metal to the end user in a timely manner. A process that assembly line manufacturers have longed for.
A third lighter than aluminum, 60% lighter than titanium and 75% lighter than steel. Magnesium’s strength and castability have made it an obvious substitute for any component that needs to be lighter and stronger. As the lightest of all structural metals, magnesium metal has been used strategically in key components in the automotive, defense and aerospace industries since World War II.
Executive Chairman, Ed Lee, stated, “This reactor unit is a significant step forward that will allow the company to enter the market with its proprietary continuous capacitor and secure the future of Western Magnesium for decades to come.” The initial metal production will allow management to work closely with end users in the automotive, aerospace and green tech companies and the Department of Defense to assess the amount of metal needed for their assembly line production and the form in which they will use it Need metal.
Magnesium prices are rising due to the scarce supply from China, by far the largest producer of the rare earth metal, and the brisk demand from the auto industry. Magnesium is mainly used in alloys to strengthen aluminum. While the demand for magnesium increases as automakers make their cars lighter, it is also expected to be used in new types of batteries for electric vehicles. According to a report by grandviewresearch.com, the global metal magnesium market was valued at $ 3.5 billion in 2019 and is expected to grow at an annual average growth rate (CAGR) of 8.8% from 2020 to 2027. Increasing die casting needs in the automotive industry and various structural applications are expected to support the growth of the metal magnesium market. Magnesium is one of the lightest materials and has an excellent strength-to-weight ratio. It has high thermal and electrical conductivity and the ability to withstand high operating temperatures. Magnesium alloyed with aluminum is used in a variety of applications including automotive parts, RFI and EMI shielding, electrical enclosures, and electrical connectors. Magnesium is critical to that Manufacturing from car seats, batteries, laptops, airplane seats, cell phones, power tools, and auto parts.
$ MLYF As strong as a bull…. pic.twitter.com/W56NTK1EA0
– BigWorm (@ Unclebuck2323) August 6, 2021
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Western Magnesium Corp (OTCMKTS: MLYF) has made a historic rise in the charts from well under a cent to recent highs near the $ 1 mark in the past few months. MLYF is rapidly becoming the volume leader in small caps, attracting legions of new shareholders, including some heavy hitters on the OTC. Currently under heavy accumulation, MLYF is steadily moving north with many new investors buying in every day. The stock is a powerhouse and continues to move north with strength and determination. The company is focused on becoming the world’s most cost effective manufacturer of environmentally friendly, high quality magnesium. MLYF has developed a proprietary technology that creates a purer form of magnesium, unlike the Pidgeon process, which results in a less pure magnesium. Western Magnesium has just completed the expansion of its magnesium reactor. This is a significant and highly anticipated milestone for the company. Executive Chairman, Ed Lee, stated, “This reactor unit is a significant step forward that will allow the company to enter the market with its proprietary continuous capacitor and secure the future of Western Magnesium for decades to come.” The initial metal production will allow management to work closely with end users in the automotive, aerospace and green tech companies and the Department of Defense to assess the amount of metal needed for their assembly line production and the form in which they will use it Need metal. Magnesium prices are rising due to the scarce supply from China, by far the largest producer of the rare earth metal, and the brisk demand from the auto industry. Magnesium is mainly used in alloys to strengthen aluminum. While the demand for magnesium increases as automakers work to make their cars lighter, it is also expected to be used in new types of batteries for electric vehicles. We will update MLYF as more details become known. So make sure you have a subscription to Microcapdaily so you know what is going on at MLYF.
Disclosure: We are not long or short in MLYF and we have not been compensated for this article.
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