MagIndustries Corp MAAFF

MagIndustries Corp is engaged in development and exploration of potash salt deposits. The company has two business units: MagMinerals and MagForestry. It is primarily engaged in the financing, developing and placing into production or operation of the projects such as potash plant, a potash exploration and eucalyptus plantation and chip mill. Geographically all the operations are functioned through the region of Canada.

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MagIndustries Corp

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Comment by hannahmon Dec 02, 2009 11:35pm

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Post# 16548529

RE: RE: RE: RE: Simple - no money

Regardless of the idiosynchracies, they need an immense sum of money that they do not have to make sure the project is a go on time.

They had a working capital surplus of 50M as of Sept 30th. They have about 3-6 months to secure a deal or they will need bridge money. That could mean more short term problems, through dilution at a lower sp.

I'm also long on this stock, not holding right now, took a risk and got out at the right time, but will probably reinvest when the price is right. If I'm not in at the right time, oh well, better to miss a possible gain than to get burned IMO.

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