We have a positive outlook ... based on: (1) its attractive valuation and price appreciation potential; and (2) projected revenue and earnings growth for Y10 and beyond, largely driven by revenues from fertilizer and magnesium sales.
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(PRWEB) January 24, 2007
MagIndustries Corp. announced today that Investology Research has initiated coverage on the company with a Positive rating and a 12 month Target Price of $3.10.
According to Andre Garnet, Investology’s senior analyst, “We have a positive outlook ... based on: (1) its attractive valuation and price appreciation potential; and (2) projected revenue and earnings growth for Y10 and beyond, largely driven by revenues from fertilizer and magnesium sales.”
The full report may be downloaded from Investology’s website or by clicking on the following link: http://www.investologyinc.com/company.php?id=22
About MagIndustries Corp.
MagIndustries’ resource subsidiaries are operating and developing major industrial projects in the Republic of Congo (ROC) and the Democratic Republic of Congo (DRC).
- MagEnergy, a wholly owned subsidiary, is the leading participant in the refurbishment (Phase I) and rehabilitation (Phase 2) of the generating capacity at the 1440MW Inga II Hydroelectric station on the Congo River in the DRC. The Industrial Development Corporation of South Africa holds a 30% interest in Phase I and a 15% interest in Phase 2. MagEnergy is also evaluating the development of the 300 MW Busanga hydro-electric site in the Katanga region of the DRC.
- MagForestry, a wholly owned subsidiary of MagIndustries, controls 100% of Eucalyptus Fibre Congo, an operating, 68,000 hectare eucalyptus forest plantation which overlies MagIndustries Makola Mineral License near Pointe-Noire, ROC.
- MagMinerals, a wholly owned subsidiary, is completing a bankable feasibility study for the development of a 600,000 tonne per year potash (fertilizer) plant near Pointe-Noire, ROC.
- MagMetals, a wholly owned subsidiary, is planning the development of a 72,000tpy magnesium smelter adjacent to MagMinerals' potash plant for the production of magnesium alloys for the global automotive industry. The raw materials for the MagMinerals and MagMetals plants will be sourced by solution mining MagIndustries’ 100% owned carnallite (magnesium and potash salt) deposits which underlie the Makola Mineral License near Pointe-Noire.
MagIndustries Corp. is a Canadian company whose common shares are listed on the TSX Venture Exchange and trades in Canadian currency under the symbol "MAA". The Company has 170,718,384 shares outstanding on an undiluted basis. More information on the Company is available at its website, http://www.magindustries.com.
About Investology Inc.
Investology Research is a leading independent research firm which specializes in providing research on small and micro-cap stocks. Investology was ranked as the #3 best performing independent research firm by BusinessWeek in 2004. For more information on Investology Research, please visit http://www.investologyinc.com
Investology Research is headquartered in Virginia (703-636-4300). Investology’s research reports are available on First Call/Thomson Financial, Reuters, and Yahoo Finance.
Investology Inc. received $5,000 for distribution of this report. The report was sponsored by MagIndustries which paid $30,000 to Bluechipresearch.net for initiation of coverage and distribution of the report.
William (Bill) Burton
President & CEO
Executive VP Finance