In typical fashion AAM seem to hide the truth in their last announcements. How many meanings does the word 'discussions have here?
"As advised to the market on 11th July 2011, AAM is in continuing discussions with various parties in relation to its funding requirements. The outcome of these discussions has not yet been finalised. Because these discussions remain incomplete, AAM is not able to provide the market with sufficient detailed information at this time."
AAM seem as if they are only going through the motions before public admission of being insolvent, at the very least still only fishing for a buyer. The ASX should have demanded more details before allowing them to release this tripe.
Investors surely deserve better than this. Another reason why this BOD should never be trusted in any public company ever again.
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