I have it on good information nugget production
will be up and running very soon w6 but that does not alter the fact we missed about 3 months production while proper machines were reinstalled. That operating loss is not being reflected in the filings either.
This is why I find the oozings of the MDOR evangelists and the carrots a plenty attitude of the company so irritating. Magog HAS TO WORK. It must be a success or else follow up plants will be extremely disadvantaged trying to raise capital. There is so much riding here and neither longs or management are prepared to take this seriously enough to approach it rationally.
China, Canadian funding, additional plants, JV's, liquid rubber, new compounds are no darn good if they don't show progress. I think confidence in this management must be at an all time ebb. I am not talking about investors who have been bamboozled over the phone I'm talking about Joe Q Public investor. All he is seeing are delays, dilution and enough carrots to gag a Clydesdale.
Magnum is not giving Joe Q Public investor an opportunity to be confident in them, what funding, what production, what JV's the newbie is saying to himself I can plainly see what is wrong here but what is going right???? Those optics are plain wrong and I see current shareholders being misrepresented by all these stories of glory that never materialize never mind disadvantaged.
Tens of millions in debt, the good ship Magnum awash in dilution to try and pay for it and STILL we are only getting lip service. It is the new investor that will make this company why must management scare them away with their sea of red flags, it does longs no favours NONE. It is more than high time Magnum verified concrete progress. Otherwise zipper it and go about there business. Closure on these JV's, consumation of funding, new processes in action producing revenue, NOT in theory. That is what will get volume back not this very soon/we are nearly there mumbo jumbo.
I feel management and there $5 million consultants have really dropped the ball in this regard, the market is neither impressed or convinced Magog will succeed. That is why the share price languishes and volume gets a chill every few days. Markets shun controversy whether Glusic chooses to admit it or not is immaterial, the market has spoken and that is all that matters.
FYI w6 whether I post or remain incognito I am watching closely rest assured. Glusic is not convincing the new investor to get on board with pie eyed potential they want PROOF and after this onslaught of dilution and distraction, can you blame them?
Best... Rich
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