Magindustries Corp (MAAFF)

[Risky-B]

When are the rest of the criminals going to jail?

https://splash247.com/former-sinopacific-boss-simon-liang-arrested-in-myanmar/

Still many more to go!!!

[benchman]

Decent volume day Friday. Meaningless or meaningful? We shall see soon enough. $MAAFF

[benchman]

98,400 in volume. Something up?? $MAAFF

[lugg]

Could you share where (what channels) could I make bids to sell maaff stocks I own? Thanks.

[benchman]

Awesome! Thanks for this. $MAAFF

[delice]

better source for recent news

3, Congo (B) Mengge 1200kt / a potash project project general contract

This contract was signed in July 2013 and is the general contract of the project; the company mainly undertakes the general contracting work of the project construction of this contract, and the performance period is about 36 months. The price of this contract is divided into fixed and non-fixed parts, of which the fixed part price is US$497,391,000 and the non-fixed part price is US$24,462,000. The above amount is paid by the owner according to the payment conditions and proportions stipulated in this contract.

As of September 30, 2018, the accumulated revenue of the project was RMB 20,813,300, and the accumulated collection was equivalent to RMB 134,496,900. The project settlement was not confirmed. At present, in view of the fact that the actual controller of the project has changed, and the construction scale, product plan and construction conditions of the project may undergo major changes, the uncertainty of the implementation of the general contract is increased. In 2017, the company accrued 270 million yuan of asset impairment provision for the project.

In March 2018, the Company filed a civil lawsuit with the Zhejiang Provincial Higher People's Court on the guarantee of the project owner's actual controller, Chunhe Group Co., Ltd. (see Donghua Technology No. 2018-017 for details). In July 2018, the Higher People's Court of Zhejiang Province issued a judgment on the case of the company v. Chunhe Group Co., Ltd., and issued a Civil Judgment [(2018) Zhemin No. 10], and sentenced Chunhe Group Co., Ltd. after the judgment came into effect. Within 30 days, the company will pay USD 30.053 million (equivalent to RMB 187.48 million) and RMB 127.785 million (see Donghua Technology No. 2018-046 for details). In view of the fact that Chunhe Group did not appeal the judgment of the first instance within the statutory time limit, the above judgment took effect. The company applied to the Zhejiang Provincial High Court in September 2018 for application (see Donghua Technology No. 2018-053 for details).

In September 2018, MagMinderals Potasses Congo SA (hereinafter referred to as “MPC”), a project company of the Congo (Bamboo) Potash Project, convened a general meeting of shareholders, its shareholder MagMinerals Inc (representing 90% of the shares) and Congo (Brazil) Mining Ministry (representative 10 % equity) sent representatives to attend the meeting. The general meeting of shareholders decided to adjust the administrative staff of MPC and agreed to carry out relevant business activities within the framework of the development of the Mongo PIA Agreement (Mineral Mining Agreement). The company is in close communication with relevant parties and pays close attention to the progress of the project, with a view to promoting the project restart as soon as possible.

Read more at http://www.stockhouse.com/companies/bullboard/maaff/magindustries-corp?postid=28908422#WApQfpFGX1dokSsv.99

[benchman]

Some news:

https://www.africapostnews.com/apres-le-passage-du-fmi-le-congo-brazzaville-mise-sur-la-potasse/

This came out on April 26, 2018. It is in French. Here is the key paragraph translated:

"A feasibility study was carried out on the Kola project and would already be 81%. It concerns the infrastructure, the operation, the ore transport, the processing plant and the marine export of the product. This study will be ready in 2019 and Sintoukola intends to produce 2 million tonnes of potash per year. The French Public Investment Bank will guarantee the construction of the mine. The Mengo mine will be operated by Chinese Evergreen"

The Mengo mine is the one owned by Magindustries (MAAFF). Evergreen owns Magindustries. The last news we got, which came in April of 2017, said that production would begin in 2018. It looks like it has been pushed to 2019.

The positive about this, is at least we know this is not dead.

[benchman]

2000 share bid paint at .0052 yesterday, 2000 share bid paint at .0045 today. Looks like I will have to my duty again today and buy some at .009 :-/

[benchman]

Nice volume at .008, followed by 100 share bid paint at .0045

[gumzsa]

.008 vol

[benchman]

Any reports from the Congo guys? It's May 2018, mining was resuming this year. $MAAFF

[benchman]

I see someone bidding at .0051. I have been doing some research, and I think things are about to change here soon.

[benchman]

Some action today. I bought some at .0052, but those orders at .0055 were/are not me.

[benchman]

But I am not going to hit that guy who just moved his order down to .0075. I liked it better at .0079.

[benchman]

100 share bid paint at .0041. Looks like I will be adding to my stack today

[benchman]

100% gainer! Nice!

[benchman]

Wow, a bid paint at .004 with 5 seconds to go before close. Don't worry, this will hit a penny on Monday

[benchman]

Another 500 share attempted bid paint at .004. I guess I will be adding shares again today Will they give me a penny? That is where I will set my order...

[benchman]

250 share attempted bid paint at .004. Looks like I will be buying more shares today

[benchman]

Bid paint attempt at .0041 yesterday, now another today at .0081. Someone hoping for some cheap shares. I bought more at .01 yesterday. May do it again today just tick off whoever is doing this.

[benchman]

Sweet attempted bid paint just now. 1600 shares "sold" at .0071.

[gumzsa]

ya we should of sold it all when we had the chance lol

[ToyotaMR2s]

lol, that was a crazy last minute

[gumzsa]

i want to sell some at .90 again lol

[ToyotaMR2s]

nice grab, still holding, i want to see .90's printing again lol

[benchman]

LOL

[gumzsa]

.0063 have to be fast around me lol

[benchman]

Nice job. I was thinking of taking those earlier. Woulda shoulda coulda...

[gumzsa]

added .0035s today

[benchman]

Looks like they have made some changes to the website. I sent an email to the company asking about the potash project scheduled to start in 2018. I'll let you all know what I find out. $MAAFF

[ToyotaMR2s]

Yup same here, waiting patiently for news/filing

[benchman]

Seems like you just linked to your own post somewhere else. Nothing new from the website:

www.magindustries.biz

So at this point I still am expecting 2018 re-start of operations.

[delice]

Is it thru?
Slimey characters..
Got the papers today. Selling out to another Chinese group. Minco Silver via Fruit Holding?. For a total of 3.5 Million for all the assets. WTF?

So what does the minority shareholders get? Other than the shaft.

I got to stay away from these speculative Chinese slime-ball groups. Oh well live and learn...

Read more at http://www.stockhouse.com/companies/bullboard/maaff/magindustries-corp?postid=26847307#XzdUzW5oFu0WHXjY.99

[benchman]

MM's wouldn't give me .006, instead they filled me at .0058

[benchman]

And yet another small bid paint 2,000 shares this time. I guess I'll be adding more at the close

[benchman]

Another small bid paint on this. Guess I will buying more today to paint it back like I did last week.

[benchman]

I agree. I am thinking it won't be till December that we see it. I am fine holding.

[ToyotaMR2s]

Just waiting on some kind of PR/filing, still think we have a good one here

[benchman]

So what do you guys think, no upward movement till maybe December? Last PR said production will begin 2018, so I am thinking maybe a month before then we get some action.

[Sobek]

seems to happen when the ask gets a little top heavy, prob sm1 trying to shake a few

[benchman]

I guess someone couldn't handle holding anymore. 100K market sell taking us down to .0027.

[Sobek]

$MAAFF - Thin L2... screenshot:

[ToyotaMR2s]

MAAFF .0129

[Sobek]

Yep, thinning out nice and bids are stacking, shouldn't be long before we see bids move up... any real volume could start a buying frenzy very easily imo...

[ToyotaMR2s]

Few more hits today above .01+, ARCA and CDEL trying to get shares imo, bet if any real volume hits ask they back off

[Sobek]

L2 Screenshot:

[Sobek]

.0119 on deck now, not seeing any blocks over 30k on the ask.... gobble up these sell orders! Got my fill a few weeks ago!

[benchman]

Thanks!

[ToyotaMR2s]

[ToyotaMR2s]

nice pickup