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

[againstallodds]

Glusic interview with Magog journalist:

Translated from french with Babelfish, original at:

http://www.cyberpresse.ca/la-tribune/estrie/200905/30/01-861385-un-lent-demarrage-des-activites-chez-magnum.php


JEAN-FRANÇOIS GAGNON La Tribune (MAGOG) May 30


The starting of l' company Recycling Canada Magnum, which promised in 2008 the creation of tens d' uses with Magog, s' carry out more slowly than envisaged because in particular of difficulties related to the financing. If its leaders keep hope that better days are to be come, it appears clear that the n' part; is not gained yet. Within the framework d' an interview granted with La Tribune, the president of Magnum D' however Resources, Joseph J. Glusic, took stock yesterday on the situation of the subsidiary company Magnum Canada, of which the d' number; employees n' reached not yet ten. Mr. Glusic recognizes that the efforts of its company to unearth financing did not enable him yet to touch an appreciable sum. Moreover, it reveals that Magnum was assured d' a financing of 15 million $ by the Simco firm, but that l' money is long in being placed at its disposal. “There are documents guaranteeing this 15 million $ to us. One will have to give explanations to l' organization of regulation of which it is raised, if one n' this money does not obtain. But, what qu' it arrives, that does not put in danger our project”, declares the president of Magnum. These last months, l' machine Magnum in ground magogois accomodated various equipment, probably thanks to the financial participation of small private investors. Their value would add up 3 million $. Joseph Glusic hopes that the Town of Magog and the government of Quebec will be in d' measurement; to bring an financial aid. “There perhaps was disagreement, but one believed to be entitled to a help starting of the authorities when s' was chosen; to install here”, notes it. On this subject, the managing director of the local Center of development of the MRC of Memphrémagog, Ghyslain Narrow part, met Mr. Glusic Thursday. “I asked him for an update of the project, which passably evolved/moved, and a planning for the two next years. One needs also d' a proof of financing before d' to grant funds”, says it. Recruitings These next weeks, l' company will proceed to some new recruitings. Thereafter, one will grind the personnel of production and the equipment, then towards the beginning of September one envisages to engage ten d' employees moreover. D' after the big boss of l' machine to Magog, Michel Boux, forty d' employees at least will work for Magnum Canada at the end of this year. During last months, Magnum acquired a site in Colorado where l' one counts 30 million worn tires, a raw material which serves to him with manufacture as various products. On the spot, the company intends to establish one second factory, which would start to produce l' nearest autumn, if all is held as envisaged. Part of the tires present on the site at Colorado could with the being need transported in Magog. In addition, Magnum became partner of the company Sekhar Research Innovation, which has a promising technological knowledge as regards recycling of old objects of rubber. Possibly, this association will allow d' to increase the product range.