Runeglaive is not the answer. At least not now.
I honestly don't know why we're making a new item. This thing has no AP, and the spell blade looks awful. This is a step in the wrong direction for transitioning into mid game for AP junglers because it provides nothing that they actually need aside from the mana passive, which honestly just be better on machete. If I build a lich bane normally, why would I build this? If I want to build high AP, why would I build this? If I want to be an AP bruiser, cinderhulk may still be preferable.
Why not just keep magus and give it some mana sustain, or just give some mana sustain to the lower tier jungle items.