Abstract: A compressed air-actuated pump includes a venturi nozzle (24) to create a vacuum condition within a fluid-tight pump body or chamber (8) to pump in a liquid or slurry from a remote location. When a given level of liquid is pumped in, a float mechanism (69, 97, 101) actuates a magnetic air valve (60) which actuates a diverter valve (40) whereby the pressurized air from the venturi nozzle is diverted into the pump body to create a pressurized condition therein, whereby the liquid or slurry previously accumulated therein is pumped out. The magnetic actuated valve and diverter valve controlled thereby insures that the desired amount of liquid or slurry is always discharged from the pump chamber during each pressure cycle, and drawn into the chamber during the suction or fill cycle.