Ok, in my previous update I told you that I got in at $.91 cents, and I did. What I didn't tell you is that I ended up buying a bit more that $400 worth. I actually bought 475 shares which brought my total purchase price (including my commission of $10) to $442.25. Sorry for the slip up.
On with the update now.
MDOR had a great day today! It closed at $.99 today which is up 20.73%. They are up 1.01% in extended hours trading.
Magnum d'or Resources, Inc. (MDOR) is a development stage company . The Company is engaged in the business of providing modified sources of recycled rubber products, reconstituted rubber derivatives and rubber powders to various distributors and manufacturers. In May 2008, the Company formed a wholly owned subsidiary, Magnum Recycling Canada (MRC), to own and operate recycling facilities in Canada.
They are incredibly underrated by wall street, and I believe that this stock is going to soar as the week progresses. I am confident that this stock will exceed my $1.10 sale point. I may set my stop loss at 1.10 once it surpasses that price, which I feel it will pass that price fairly early Tuesday.
I believe it will really fly tomorrow because of this bit of news they released today:
Magnum Enters Negotiations with European Client for 50,000 Tons of 40 Mesh Rubber Powders, Potential Contract Size is $26 to $41 Million USD Per Year
Magnum D'Or Resources, Inc. (OTC Bulletin Board: MDOR), a next generation rubber recycling Solutions Company, releases new photos and announced the company has been in negotiations to supply a new European client with up to 50,000 tons of 40 mesh rubber powder. The contract is for a 5 year term and the current spot market on 40 mesh rubber powders are roughly $520 to $820 per ton. The total potential size of this contract could be $130 to $205 Million USD over a 5 year term. Magnum plans on securing more high tech equipment in order to help fulfill this contract and future contracts to come.
This new large European client is also looking to deal with Magnum in order to acquire additional rubber powders down the road ranging from 120 to 200 mesh sizes for the integration into compounds. These fine rubber mesh powders go for much more than the 40 mesh rubber powder listed above.
V.P. of Magnum Canada, Michel Boux, stated, "I have been diligently working with a large European company in order to help supply them with a wide range of Magnum rubber powders. This will hopefully be the first of many contracts to come. The market for our products is enormous and almost unlimited. There is a huge demand for all of our products and it seems as though this will be the case in the years to come."
To view today's Magnum photos http://www.magnumresources.net/view-investors.php?id=219
About: Magnum's 98,000+ sq ft facility is located in Magog (Quebec). Magnum currently holds over $130 Million USD in open contracts for the production of rubber nuggets and rubber buffing. Magnum's proprietary "GREEN" technology provides a one of a kind solution to all of the challenges in eliminating Stockpiles of Scrap Tires and Rubber Scrap including: establishing Turnkey Recycling facilities; design, manufacture, and sell products made with recycled materials; and institute viable solutions to the problem of recycling waste rubber.
Magnum/SRI are currently using their advanced technologies to produce next generation rubber recycling solutions for custom compounds, retread compounds, processing aids, advanced state-of-the-art equipment, and reactivated ambient/cryogenic rubber powders for the global market. The Company is also carrying out a number of trials on various compound blends specifically targeted at high specification premium applications. Magnum/SRI tests are targeting premium applications that contain high grade properties. This will allow production of higher yielding compounds which will potentially create higher revenues and profits.
This also includes maximizing cost savings for clients while producing high quality materials. The Company recently had a series of positive tests and trials carried out at our Magnum/SRI Malaysian lab which has served to accelerate our program. These efforts represent Magnum/SRI's continued development of next generation high performance and exacting specification compounds which we intend to have evaluated independently by an independent and highly reputable third party institute.
The reason why Magnum/SRI premium compounds are one of a kind is because they can be substituted in high specification compound applications without appreciable loss in properties or performance. Furthermore, the reason why our clients will prefer to use Magnum/SRI compounds is they will be able to enjoy a substantial and meaningful reduction in raw material cost without compromising product performance and quality. In the competitive environment of rubber product manufacturing this is a major development having a direct impact on our customer's bottom line.
Visit SRI: http://www.srielastomers.com/
View Mangum/SRI Next Generation Custom Compound positive trials: http://magnumresources.net/view-investors.php?id=180 or http://www.magnumresources.net/view-investors.php?id=199
DISCLAIMER: Keep in mind that I am not a securities advisor nor am I suggesting that you purchase any stocks that I post on this blog. If you do invest in any stocks mentioned in this blog, you do so with the understanding that you could lose every penny of your investment. The purpose of this blog is to give would be investors encouragement and hope, and help them realize that you can make money in the stock market, even in a bad economy. I have not been paid to promote any stocks that I have written about in this blog. Please invest in stocks based on your own research. I'm a truck driver, not a financial advisor.
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