ANG A Compelling Case

I firmly believe this stock is due for a major re rating for the following reasons.

1/ The very recent massive position taken by Discovery Asset (29 mln shares) and $500,000 by a director.
DA specialise in small /mid cap stocks and take a 5 to 10 yr view and have an enviable track record.
The confidence of Mr Sartain speaks for itself.

2/ Today's Annual Report is very positive. The Chairman's report highlights are.
" The landscape by the end of 2016 is significantly better than it's been in 2 years" .
Then the SP was around 70 cents!
"Debt now is $40m down from $96m, further work is needed but the pillars are in place"
Debt has always been the biggest monkey on its back.

"I expect to make an announcement shortly on the appointment of a new CEO and CIO"
Another monkey gone!

"We are securing maximum advantage as the market is now turning with iron ore, coal and copper products now needed to be replaced very soon. I am confident we will get these replacements and there are no signs of our customers going to our competitors or other countries".
It seems that it is universally accepted the likes of BHP, RIO, FMG et al are seeing much better times ahead.

3/ So why is the share price at 13c?
I truly believe it is a phenomenan of never going back to your "Ex partner" and "Once bitten twice shy" is in play. Historically ANG has cost a lot of people a lot of money. Remember it was up at $4.00 a few years back. Obviously those days are over, but there are distinct signs of a major re-rating occurring. It's not for the 'pip' traders although many seem to be here, but take Direct Asset Management's view and hold for a very long time!

DYOR and the Best of British!