Magnum d'Or Resources, Inc. (fka MDOR)

[di4]

Magnum Market Update: Nugget/Crumb Rubber Plant Installation, New Client Samples transferred to Magnum/SRI Malaysian Lab, and 10-Q Filing Extension
May 18, 2009 6:00:00 AM


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View Additional ProfilesFORT LAUDERDALE, Fla., May 18 /PRNewswire-FirstCall/ -- Magnum D'Or Resources, Inc. (OTC Bulletin Board: MDOR), announced today the arrival of its latest system to Magog, the Granutech Grizzly M80. The company expects to file its quarterly 10-Q report within its permissible extension and more equipment deliveries are expected to arrive on Tuesday as completion nears for the high volume crumb/nugget rubber plant.


To view photos of recent activities click below. Additional photos will be posted as they become available. View:

http://www.magnumresources.net/view-investors.php?id=200


President of Magnum, Joseph Glusic stated, "We will file our quarterly report in our allotted extension time. It is important for people to understand that many public companies file extensions as a normal course of business. Although it would be preferred to always file before the normal due date, the depth and scope of professional review sometimes requires additional time to ensure complete compliance. As the company grows and additional internal accounting resources can be added to our staff the time frame for our reviews will become shorter and more efficient. At this point we must rely on outside professional services to provide the appropriate oversight. This makes the process lengthier and more time consuming."


An update to Mr. Glusic's latest visit to our targeted acquisition will also be posted shortly. New developments will be discussed as are appropriate.


Also noteworthy is that Magnum Canada has recently prepared new client samples to be delivered to the Magnum/SRI Lab in Malaysia. Tests include: 20, 30, and 40 mesh output from OTR tire buffing operations. These new compound trials will be utilized in our current and future Next Generation Custom Compounds.


Magnum has also been working on a completely innovative way of cutting huge OTR 'Black Gold' tires. Results are expected to be available very shortly. This will benefit our output production significantly when producing nuggets, crumb, powders and next generation compounds.


As was previously announced, Magnum recently reduced almost 1 million dollars of its outstanding debt held by investors as an ongoing effort to enhance shareholder value.


MDOR's recent "BUY" Rating and Targeted future share price of $2.67, was reported by Cohen Independent Research Group (CIRG), one of Wall Street's leading independent research firms. CIRG provides an in-depth analysis, including 5-year financial and valuation projections, on Magnum's business and its significant growth drivers. CIRG initiated its unsolicited non-compensated coverage on Magnum D'Or Resources, Inc. and issued an independent "BUY" recommendation with the Target Price of $2.67 per share. Research Report and "BUY" recommendation information is available at: http://www.grass-roots-distribution.com/mdor-report.pdf


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 buffings (mulch).


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. View Mangum/SRI Next Generation Custom Compound positive trials and videos http://magnumresources.net/view-investors.php?id=180 or http://www.magnumresources.net/view-investors.php?id=199


SRI visit http://www.srielastomers.com/


Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995


Statements contained in this document that are not historical fact are forward-looking statements based upon management's current expectations that are subject to risks and uncertainties that could cause actual results to differ materially from those set forth in or implied by forward-looking statements. The company is not required to update its forward-looking statements.


Contact:
Magnum D'Or Resources, Inc.,
Fort Lauderdale, FL
www.magnumresources.net
[e-mail]
1-305-420-6563


SOURCE Magnum D'Or Resources, Inc.



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