ANM traded nicely today, volume back looking to head to 3 cent mark.
blue sky for ANM, no debt, since
Australian Magnesium Corporation Limited (AMC) signed a Deed of Transfer and Release giving effect to the agreement reached with the Commonwealth and Queensland Governments. (the Deed), and a concurrent agreement between AMC, ANZ Banking Group Limited and the Commonwealth Government, have extinguished AMC's debts owed to the Queensland Government and removed AMC's obligation to repay the Commonwealth
Government guaranteed ANZ facility. The Governments have also released their security over all AMC assets.
The Deed and associated agreements strengthen AMC's Balance Sheet by approximately $125 million and allow AMC to present its financial position to potential investors and financiers with clarity.
For a $100 million dollar sales turn over and a 2 cent stock ..ANM is a sure investment, despite is previous history it is worth a look.
Other $100 million sales stocks are at 30 cents, to me ANM is very cheap
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