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Management’s goal in creating this new reactor is to develop a new generation of technology that we will include in the current commercial pilot plant and future facilities. This new reactor that is being tested at our partner facilities in
Executive President & CEO,
Executive Chairman,
Separately, our commercial pilot plant construction is underway and progressing well. Factory Acceptance Testing has begun for the electrical and instrumentation equipment. Structural steel installation is ongoing, and the remainder of the equipment is scheduled to arrive once the steel work is complete. Plant wide commissioning will commence once construction is completed.
Management feels confident that we are on track with our timeline for the assembly, testing and ultimately the production of magnesium metal. Once more, as management has stated, the purpose of the commercial pilot plant is to produce magnesium metal for the industries that we are currently in discussions with to certify our metal so we may move toward finalizing purchase and joint venture agreements.
“We are now close to not only producing next generation technology which will be incorporated into current and future designs that will bring efficiency and increase profitability to the Company, but our commercial pilot plant is close to final assembly and ultimately the production of magnesium metal. This is truly exciting as not only will we be producing metal from our commercial pilot plant but at the same time we are developing next generation technology which will be incorporated and will continue our competitive edge both economically and environmentally, over foreign producers”, said
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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
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
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