RE: GOOD NEWS FOR MAAGood news for sure - PIA now confirmed - signed into law. Hopefully the management changes and this signing are telling us something. I have pasted only a portion of the NR as it goes on and on.
Just doubled my position @ .32 and happy to have done so.
MagIndustries Announces Passage of Potash Investment Agreement Into Law in Republic of Congo
Last Update: 10/26/2010 2:59:37 PM
TORONTO, ONTARIO, Oct 26, 2010 (Marketwire via COMTEX) -- MagIndustries Corp. ("MagIndustries" or the "Company") (MAA) is pleased to report receipt of written confirmation of the passage of the Potash Investment Agreement into law in the Republic of Congo ("ROC") by the promulgation today of ROC Law 14-2010 by the President, Minister of Mines and Minister of Finance. The Company previously reported on December 29, 2008, that it and its subsidiary, MagMinerals Potasses Congo S.A. ("MPC"), had signed a comprehensive agreement with the government of the ROC, referred to as the Potash Investment Agreement ("PIA") (also referred to within the ROC as the Convention d'Exploitation Miniere). The PIA addresses all aspects of the Company's planned Mengo Potash Project (the "Project") near the ROC port city of Pointe-Noire, including key fiscal and development terms. On September 3, 2010, the Company reported that it had received verbal communication from ROC government officials that the PIA was passed into law by the National Assembly and the Senate of the ROC on August 30, 2010.