Magnum CEO Travels to Colorado to Conclude Agreements for Scrap Tire Land Fill
and Magnum Magog Facility Announces Delivery of Large Scale Crumb
Rubber/Nugget Plant
FORT LAUDERDALE, Fla., May 13 /PRNewswire-FirstCall/ -- Magnum D'Or Resources,
Inc. (OTC Bulletin Board: MDOR), a next generation rubber recycling solutions
company, announced today the Phase 1 startup of the Crumb Rubber and Nugget
plant. This includes shredders, classifiers, control panels, handling
equipment, and conveyors. To view recent test run:
http://www.youtube.com/watch?v=E6H0g875vfc
Furthermore Magnum's Magog Facility will be receiving 3 truck loads (53
footers) today, another 2 truck loads next week, with new equipment and
machines to complete the Phase 2 and 3 crumb rubber and rubber nugget
production lines. This includes a Granutech Grizzly M80 system, in feed
conveyors, vibratory discharge conveyors, cross belt magnetic systems, knife
hog system, aspiration systems, classifiers, electrical control panels, and
much more. Magnum's VP Michel Boux and production manager Carole Larose will
supervise immediate equipment installation in order to be in full production
as soon as possible. Local demand is ramping up for Magnum's valuable rubber
products.
This plant will be capable of producing rubber nuggets, crumb, granules and a
powders division. Production is expected to be between 15,000 to 20,000 tons
of rubber/year with the possibility of fine tuning operations to produce in
excess of 25,000 tons annually. Variety of these products will range from $200
to over $2,500 USD a ton.
CEO of Magnum, Joseph Glusic traveled to Colorado today with plant manager to
conclude negotiations and agreements with Tire Recycling, Inc. of Hudson,
Colorado. This new facility will be Magnum's new USA Facility, located on a
parcel of approximately 120 acres of high grade commercially zoned land, it
consists of buildings, equipment, and inventory in excess of 30,000,000+
tires. The initial accelerated plans for the facility is to process, test, and
produce various profitable rubber products.
Patton-Boggs http://www.pattonboggs.com/ has been retained as our legal
advisors. More information will be released, including a conceptual plan for
the facility in the near future.
In an effort to create shareholder value, Magnum has recently reduced $927,000
USD of its outstanding debt held by investors of the company.
2,765lbs OTR 'Black Gold' Tire Buffing:
http://www.youtube.com/watch?v=x8HKxofY4sc
MDOR "Buy" Rating: Cohen Independent Research Group (CIRG), Wall Street's
leading independent research firm, recently initiated unsolicited
non-compensated coverage on Magnum D'Or Resources, Inc. They issued a "BUY"
recommendation with a Target Price of $2.67 per share. CIRG provides an
in-depth analysis, including 5-year financial and valuation projections, on
Magnum's business and its significant growth drivers. Research Report and
"Buy" recommendation visit:
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 recent 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,
www.magnumresources.net, mdor@magnumresources.net
SOURCE Magnum D'Or Resources, Inc.
Magnum D'Or Resources, Inc., mdor@magnumresources.net
