ANM 0.00% 5.5¢ advanced magnesium limited

bad for holders but...

  1. 871 Posts.
    lightbulb Created with Sketch. 1
    Current holders (like me) wouldnt be too happy. But that doesnt stop this from being a bargain at current prices. The plant costing around $1.5 billion to build has been paid for by investors and $400 million by the Qld Govt.

    At current prices you can buy an anm share for 17 cents through buying anmna for 30 cents, thereby buying into the Stanwell project at a fraction of its cost.

    I don't see how an increase in costs of around $200 million has reduced the value of the shares by close to $1 billion. We're not talking about earnings here.
    Besides if Beattie wants to keep his job and has any moral decency he will be getting out his cheque book to assist with the cost overrun.
 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.