AFR Smart Investorp. 87"Exploration company MMB has largely...

AFR Smart Investor
p. 87
"Exploration company MMB has largely avoided the slump in sentiment that has plagued fellow junior (who are they kidding?) resources players recently. The stock which listed in June 2006 at 20cents, has nearly tripled (obviously written before last week).
The key to this success has been its Thunder Bay north platinum, palladium, copper and nickel project in Canada. Thunder Bay is a promising new base metal project, whic is attracting the interest of mining heavyweight Anglo American. The diversified mining giant is the world's largest producer of platinum,as well as significant producer of oter base metals. Anglo took a 12% stake in MMB for 60cents a share in September, which represented a 43 percent premium to te explorers closing price on Sept 9.
The $8.1 million raised through the sale of the stake will be applied to developing the Thunder Bay project.
Anglo will provide technical expertise to assist with exploration and drilling.
MMB also holds tenements in WA, in the east Yilgarn and East Kimberley regions. Although drilling works at Tunder Bay are still in progress, MMB reported a high grade intersections on September 22 that it says highlight the potential for a massive nickel, copper and platinum group metal sulphide deposit. However, it is worth noting that platinum prices have plunged this year. Fears that slowing global industrial production will dampen demand have helped push prices lower.
(Ayesha de Kretser)

SI view
Magma has a rich resource and is well positioned to profit from development of the Canadian Thunder Bay North project with the backing of mining giant Anglo American."