Magnum Fills New GNR Technologies Order, Delivers 36,000 Pounds of Secondary
Rubber Buffings, and Updates the Market
FORT LAUDERDALE, Fla., April 28 /PRNewswire-FirstCall/ -- Magnum D'Or
Resources, Inc. (OTC Bulletin Board: MDOR), a next generation rubber recycling
solutions company, announced today GNR Technologies received another 18 tons
of Magnum's product, and has reserved additional production batches.
Visit http://www.youtube.com/watch?v=aUZlwVJcLkY to view a video of GNR
Technologies products being loaded at Magnum's Magog Facility
Magnum Canada is now providing some products to local communities. According
to Mike Boux, VP of Magnum, "People are so happy to reduce their landscaping
maintenance and increase safety for their young ones. We now work with a pour
in place rubber specialist to combine pour in place projects with our
beautiful mulch."
Magnum Canada has also begun discussions with a prominent Ontario plastics
producer to combine plastic with up to 70% recycled rubber in their products.
Magnum is also developing new relationships with notable European companies
that specialize in the asphalt and rubber compounds industry. Initial meetings
have already prompted further discussions.
Magnum is also moving a step closer to the reactivation of 40 mesh powders
from the large OTR tires processed in Magog. Sample test results should be
returned from Magnum SRI Malaysia Lab in the near future. View recent
Mangum/SRI Next Generation Custom Compound positive trials
http://magnumresources.net/view-investors.php?id=180
Startup of the tire recycling plant (nugget, granules and powders division)
will begin Thursday with Phase I testing of all large components, control
panels, handling equipment, and conveyors. Production of between 15,000 to
20,000 tons of rubber/year is anticipated with the possibility of fine tuning
operations to produce in excess of 25,000 tons annually. Boux exclaimed, "We
are getting ready for the BIG day when our plant is in full production with a
range of products no one else will have. Some of these products will range
from $200 to over $2,500 USD a ton."
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 will also be updating the market very shortly regarding its recent
$15,000,000 USD agreement with SIMCO Group. The specific terms disclosed in
our SEC filings were very favorable and the disbursement is expected shortly.
MDOR's CEO Joseph Glusic stated, "The financing has been closed and all the
terms have been satisfied as of the announcement date; however, due to the
recent government required 'stress tests' and other banking requirements now
instituted, we have had to endure a delay in disbursement that is now common
throughout the credit markets." To view this earlier news
http://www.magnumresources.net/view-news.php?id=177 or view the filing
http://www.magnumresources.net/view-news.php?id=178
About Cohen Independent Research Group (http://www.cohenresearch.com/)
Http://www.grass-roots-distribution.com/home.php is CIRG's small cap
distribution website. Based in San Rafael, California, CIRG has a strong
record of working with emerging growth companies in the U.S. that do not have
current analyst coverage, but who, according to Mr. Cohen's proprietary
valuation techniques, are "undervalued gems and destined for long-term growth
and success." CIRG includes nine PhD's (three with MD's), two MD's, six CFA's
(chartered financial analyst), three with CPA's (certified public accountant)
and 21 analysts covering most industries.
Founded and led by D. Paul Cohen, founder of Bear Stearns Western Regional
Offices, D. Paul Cohen was one of the original 12 Dirty Dozen analysts,
regarded by many to be the top 12 security analysts in the nation. Mr. Cohen
was also the West Coast Senior Vice President of CBWL-Hayden Stone-American
Express. Mr. Cohen's partners were Sanford I. Weill (past Chairman and CEO of
CitiGroup and past Chairman of Salomon Smith Barney) and Arthur Levitt (past
Chairman of the SEC).
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.
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
Investor relations: 305-420-6563
mdor@magnumresources.net
www.magnumresources.net
SOURCE Magnum D'Or Resources, Inc.
Magnum D'Or Resources, Inc. Investor Relations, +1-305-420-6563,
mdor@magnumresources.net
