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 CapeBretonon Aug 06, 2010 9:23pm

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Post# 17329895

RE: RE: not bad news for our "MagForestry"

I think all the mag longs must be happy with this week, a strong ending with a technical and psychological level breached (over 40). August has lots of days left, with steady volume this stock will hit over 55-60 cents before financing news. I just cant see an offer for 45-50 cents. We reached 43 cents, you think Mag will take 2 cents more at 45cents? no way....Mag will not accept less than 65 cents if they did take a buyout, which they wont. I dont think Mag wants to just sell out, they want that plant going so they can start exploring the rest of the land grants. This stock will crest over $1 this year.

I wonder if Mag will make a big event out of the signing, or if it will be low key. Nice to know the sp is supporting the deal, just hope there is no extension.

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