MAGONTEC LIMITED — Earnings Release 2010

Aug 30, 2010

APPENDIX 4E

Preliminary Final Report For the financial year ended 30 June 2010

Advanced Magnesium Limited ABN 51 010 441 666

Current reporting period: 30 June 2010 Previous corresponding period: 30 June 2009

Contents

Item	Description
Number
1	Results for announcement to the market
2	Commentary on results for the year
3	Net tangible assets per share
4	Information on Audit or Review
	Executive Chairman’s Message
	Corporate Governance Statement
	Directors’ Report (including Remuneration Report) Independent Audit Declaration Financial Statements and Notes to the Financial Statements	As per 2010 Annual Report lodged simultaneously with this
	Directors’ Declaration	Appendix
	Independent Audit Report
	Shareholder Information

This Preliminary Final Report is provided to the Australian Stock Exchange under ASX Listing Rule 4.3A

(i)

Appendix 4E Advanced Magnesium Limited

Results for announcement to the market

1 Revenue and net profit

		Percentage change		Amount $
Revenue from ordinary activities	Up	4,151.37%	to	7,404,870
The amount and percentage change up or down from the previous corresponding period of profit (loss) from ordinary activities after tax attributable to members.	Up	44.07%	to	(4,052,509)
The amount and percentage change up or down from the previous corresponding period of net profit (loss) for the period attributable to members.	Up	44.07%	to	(4,052,509)

Dividends

		Amount per security	Franked amount per security
Final dividend		Nil	Nil
Previous corresponding period		Nil	Nil
Record date		n/a

2 Commentary on results for the year

Revenue

Gross Revenue from operations of 2010 is as follows:

AM Cover AM Converter AM Cast AM Lite Electroplating Generic Alloys Total	$39,235 $18,704 $7,932 $35,971 $12,485 $7,290,543
	$7,404,870

(ii)

Appendix 4E Advanced Magnesium Limited

2 Commentary on results for the year (cont’d)

Results

The results for the financial year include the consolidation of accounts for AML’s 53% owned Chinese subsidiary Henan Keweier Alloy Materials Co Ltd for the date AML assumed control (1 November 2009) to 30 June 2010.

3 Net tangible assets per share

Net tangible assets per ordinary share at 30 June 2010 - 2.76 cents (30 June 2009: 1.06 cents).

4 Information on audit or review

The preliminary accounts lodged with this Appendix are unaudited. A fully audited annual report will be lodged with the ASX before 30 September 2010.

(iii)