MagIndustries Corp MAAFF

no surprises

[CapeBreton]

this complant NR is not a surprise, Rich on BNN made it clear we were being not taken seriously by the Chinese, but he also gave out some reassuance when he responded "a very gratifying yes" indicating there are multiple other parties knocking.  Thats why I brought up awhile back why not consider having Mag say they are cutting off a deal, deal over, whats the harm?  It would at least give Magindustries the appearence of strength.  It would show the Chinese they better make a quick decision if they are actually interested and serious, and it would show other potential investors that we have closed the China deal and are interested and open to other options.  One could say why bother, we ended the exclusivity already, but actions are stronger than words, and a NR saying we are done with the Chinese option would send a strong message.  And just sometimes you have to go to extremes to make people react, and maybe if ever a Chinese deal would go through we need to pressure them, we have nothing to lose.  I can see another partner, I strongly wonder if Vale is talking with them, and some announcement in jan.  Question is will they make an annoucement of a MOU, or wait until a full deal can be signed.  I think Rich will decide to announce a partial deal, if only to show shareholders there is stuff happening behind the scenes.  We will have a long week of tax loss selling, great chance for more accumulation if you believe.  Still speculative an dnow more longterm buy.  Spring 2011 could be good for Mag.