ANM 0.00% 5.5¢ advanced magnesium limited

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  1. 15,276 Posts.
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    ANM has a habit of quick short upwards bursts...

    Usually followed by zilch!

    I bought a few this morning at 1.1...but not convinced to buy any more just yet.

    I like the fact it hasn't been sold down as expected after last monday's apparent false start. In particular, I like the fact it appears to be respecting the 1.1 support line which was the previous resistance...firstly on the July 1 spike...and then again on last wednesday's spike.

    Further, there does seem to be a reduced rush for the door at 1.2c now, so it may well be on the verge of a run?

    Only time will tell I guess.

    The market has placed very little value on the company's assets, but they are sitting on a bit of cash...LOL...and a googleplex of shares!

    Interestingly though, with their shares at 1.2c, over half (.7c) of that is cash...so it wouldn't take too much of an announcement to see them move somewhat.

    Yes...monday might be interesting.

    Cheers!
 
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Currently unlisted public company.

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