ANM 0.00% 5.5¢ advanced magnesium limited

magnesium smelterto good to lose, page-8

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    AUSTRALIAN MAGNESIUM CORPORATION LIMITED 2003-06-05 ASX-SIGNAL-G

    HOMEX - Brisbane

    +++++++++++++++++++++++++
    ASX MARKET RELEASE

    The securities of AUSTRALIAN MAGNESIUM CORPORATION LIMITED (the "Company") will be suspended immediately, at the request of the Company, pending receipt of an announcement by the Company with respect to the status of its Stanwell Magnesium Project.

    Security Code: ANM ANMNA ANMO

    D Higgins
    MANAGER COMPANIES


    REQUEST FOR SUSPENSION

    I refer to our telephone conversation and confirm that Australian Magnesium Corporation Limited (ASX code ANM, ANMNA, ANMO) requests the suspension of its securities pursuant to Listing Rule 17.2.

    The Company is reviewing the status of the Stanwell Magnesium Project pending the outcome of ongoing discussions with its major stakeholders, following the unsuccessful engagement of a new corporate partner within the timeframe imposed by the Company.

    The Company expects to make an announcement with respect to the status of the Stanwell Magnesium Project by Thursday, 12 June 2003.

    Accordingly the Company expects that the ending of the suspension would be dependent upon the successful outcome of these discussions.

    P Nair
    COMPANY SECRETARY
 
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