This is a post from awhile back when Gnorth and myself where doing an evaluation on Magindustries. Has anyone looked at the current situation? That being share's outstanding/ poatsh price's etc.?

What a day. Halt, i guess so. This project is moving forward forsure. What fifty people just woke up today and thought they would create a position in Mag.. I think not.

Burnard, The reserves are around 35,000,000 tons of potash @ 600,00 tons/year to start. They will expand to 1.2 mil/year in phase 2. Gnorth would know forsure but around 35mil i believe.

So, 600,0000 x $500.00/ton=300mil/year. Cost landed on the boat in the congo is $120/ton tops= $380.00/ton net=228mil/year to start + mag forestry of 35-50 mil./year.

Plus other holdings in the company and current cash reserve of?100mil. maybee. Gnorth could confirm

Pretty sure 500/to is conservative?

I did a comparison/share vs. potashcorp. and worked Mag off the 800mil fully diluted after Mou agreement and came up with 1.76/share vs potash corp selling at 100.00/share. The comparison didn't include anything else but the potash division. No forestry, energy, or cash.

I believe a couple of bank have put a price of 2.00/share, so i was conservative in my approach to basic evaluation.

This is all IMHO only. Gnorth or burnard, Any thoughts you'de like to share or add?

CHIP OFF THE BLOCK!!!!!!!!!!