This morning plenty of investors are expected to keep an eye on the Western Magnesium Corporation (OTCMKTS:MLYF) after the company’s stock had emerged as one of the notable movers on Monday. The stock was in focus yesterday and had managed to end the day with gains of as much as 5% following a key announcement.
Trading Data
On Monday, MLYF stock jumped 5% to $0.4459 with more than 266k shares, compared to its average volume of 333k shares. The stock has moved within a range of $0.4100 – 0.4999 after opening trade at $0.4999.
Western Magnesium Announces Effectiveness of Form 10 Registration Statement
Western Magnesium stated yesterday that it had finally completed the filing of its Form 10 Registration Statement with the United States Securities and Exchange Commission. The filing went into effect yesterday and it goes without saying that it was a significant development for Western Magnesium.
Now that the filing has been completed, the company is going to be subjected to the reporting requirements that have been laid down in the Securities Exchange Act 1934. The company would need to file its annual returns, current reports and also quarterly financial results.
In other words, Western Magnesium is going to become a far more transparent company for investors and that is another important by product of the latest development. After the stock managed to go on a mini rally, it remains to be seen if the Western Magnesium can add to its gains today.
