ANM 0.00% 5.5¢ advanced magnesium limited

anm/anl : further parallels

  1. 4 Posts.
    Did anyone read Mr Howard-Smith's open letter? It was extremely damning of the status of development of the technology, and of the cost projections determined therefrom.

    The ANM story is almost a carbon copy of the ANL story imo, except this time the contractor, and probably the lenders, were a lot more savvy.

    ASIC needs the teeth to demand far more rigorous assessment of new or relatively unproven technologies (eg independent scientific review panels), lest hundreds of millions of dollars get chewed up in future debacles. More to the point, by allowing such risky ventures to proceed, the ability of companies, perhaps with far more robust technology, may as a result of such debacles, find it extremely difficult to raise capital in future. In other words, there is now a strong need to protect Australia's investment well from being poisoned.

    Billy
 
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