Jag, note Friday's announcement reproduced below. MGU has the...

Jag, note Friday's announcement reproduced below. MGU has the same winning team behind it as SLV. Read between the lines, and just tuck a few away.


29 June 2007
Company Announcement


PRIVATE PLACEMENT

Magnum Mining and Exploration Limited (“Magnum” or the “Company”) is pleased to announce that 19,642,857 fully paid ordinary shares have been placed with sophisticated investors at a price of AUD$0.21 per share. The placement will raise approximately AUD$4.125 million.

Magnum will utilise the proceeds from the placing to undertake evaluation and developmental activities at the Company’s Tantalite Valley tantalum project in Namibia, to assess and pursue potential new projects and for working capital purposes.


Yours faithfully

Magnum Mining and Exploration Limited
Grant Button
Director