The company need to start putting some of the pieces of the puzzle together for us , because thats what it is , a puzzle !
Mid Metal , we know hardly anything about them , yes its a shell with no cash , fair enough , but who set it up , whos behind it ? who are Magnum dealing with , how will it be structured , who will run it and how do they plan to raise funds , we havent got a clue , the market hasnt got a clue .
Biochar , whats happening there ? Neil has stated that Bio Char could be the next cab of the rank in regards to a deal , with who , ? and what are we gong to do with it , we are 3-4 years away from Hismelt or producing Pig iron , can we sell it on the open market , are we going to build or buy our own plant or do we source it from someone else ?
How can we fund the studies for Hismelt ? a BFS would cost upwards of $10 million , and we have a poster on here talking about Hismelt plants in Argentina , Australia , KSA and USA ,
, how will this be funded ?? .
On a side note , someone mention HIO to day , another potential IO producer , i suggest everyone go to their website and look at their board and senior management compared to ours , they have several key personnel with vast experience in the IO and mining industry , i will list them below , but my point is , we need more help , Neil cant do this on his own
Below is a snippet from 4 of their board an senior management , they are a 40 million market , not much bigger than Magnum .
- Over 35 years’ experience in mining resource projects, process plants and related infrastructure rail, pipelines and ports
- Experience in all project development phases from concept study to feasibility studies through to project execution, commissioning and operations
- Over 30 years in mining and exploration geology
- Over 20 years in senior geology and exploration management roles with listed mining companies
- 30 plus years’ experience in resources sector
- ASX experience across mining, agribusiness, information technology and steel manufacturing
- Former Senior Executive MIM Holdings and Grainco Australia
- Former GM Neumann Steel and NatSteel Australia
- Former Director/CEO Tata Steel Resources and Kalimati Coal
- 30 plus years’ experience in resources sector
- Former Executive: Oil Search Limited (ASX:OSH) and Exeter Resources
- Broad international experience in North America, South America and Asia-Pacific
- 20 plus years in senior technical and commercial project roles
- Central to Oil Search’s transition to an LNG producer, leading key elements of PNG LNG through construction, start up and to steady state operations
- Former principal of Pilot Advisory Group and Managing Director with Credit Suisse, Morgan Stanley and Austock
- Non-executive Director of industrial and mining companies since 2011
- 30 years’ experience in energy and resources
- Advised on numerous multibillion-dollar acquisitions in energy and resources
Now look at Magnums board , we have Anoosh who holds a bachelor of science and a post grad business degree , and Lekkas who , and i quote from the website '. He was former Chairman of Panax Geothermal Limited (ASX
AX) a Geothermal company that was successfully transformed into an Internet of Things (IoT) technology company where he was responsible for raising $25M ' ,so he raised $25 mil somewhere , and then we have neil , who has zero experience that i can see in running listed companies , however he has a great background in Hismelt technology and a great history in the iron and steel making industry and has worked for Rio and Molong for 20 years , perfect fit for Magnum in his respective field but needs backing in the form of an experienced IO veteran who has ran listed junior explorers from the ground up .
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