Opinions
Steve Martin
MagIndustries Corp.
MAA-T
TOP PICK
Apr 18, 2008
They refurbish and replace existing turbines in power plants and there is a power crisis in Africa right now. A bigger play is their massive potash deposit in the Congo. Recently spun out a small portion of that development into a private company. Raised money to start funding the first stage, which was about $480 million for the entire phase 1. They are left with $400 million, about $2 a share.
$2.750
Stock price when the opinion was issued
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It is a small cap potash that needs financing for a deal they just did (TLC – sub-Sahara mining company). If the deal completes the stock probably goes to 60 or 70 cents, otherwise it is flatter longer. Thinks it’s a good deal. Will do nothing until deal is announced and then it will double in one day. For your fun money in a portfolio.
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