newcastle plant, page-24

sbvb,

If you think about it my Plant visit report did no more than flesh out parts of the March 2012 quarterly report.

The stark fact has always been that no synthetic rutile plant or acid regen plant would ever be built until there is a need in Oz for a greenfields plant.

MT Chairing the Mineral Sands Conferences has opened doors for APG.

Iluka sell synthetic rutile [don't know what grade ] and even though they closed down one furnace/plant ? they still haven't built another to meet increased demand so we are not absolutly necessary.

We should be happy that the management is far sighted, thinks counter cyclically and sticks around with tenacity.

Everyone bitches re completion times but this was always going to be a 10 year development that will come onstream because of compelling market prices.

That time has come.

I think that a projected completion date when given in the next quarterly should be pretty firm.

My advice is to read the quarterly reports carefully as there is much going on. The exciting thing is that all the additional opportunities mentioned within the report are nearly within our grasp.