big dump about to happen, page-7

after the agm Don't know if anyone else was there. While I was chatting to one of the execs afterwards during the beer and hors d'oevres, another shareholder told me "So I guess this will be on Hotcopper tonight?". He said he picked me as a HC'ite!! I tried to deny it but he had me.
What does a HC type look like anyway? I really didn't know whether to thank or thump him.......

Michael Turbott tried a few jokes while keeping a weather eye out for grenades and rotting vegetables (none came).
He was his usually jolly self and Terry Cuthbertson played his usual serious Chairman role.
Both expressed their ongoing frustration with the slow progress of things and astutely recognised that a few shareholders (a lot actually) were feeling much the same (I think the frequent phone calls they claimed to be receiving helped give them the hint).
However they reassured us that IT WOULD HAPPEN (the "deal") and that the ongoing delay was in the processes within the other party ("a large international party" of which no further details could be given). The deal was done and we were just waiting for the formalities - no worries it would be finalised by next quarter (have we heard that before?). This would give them the wherewithall to go ahead with the demo plant (total cost just under $5M) to be built in 2006. This done, they would then be able to finally prove the technology and look for the the help required to work towards the 60ktpa commercial plant ($77M) with perhaps the same mysterious party involved (2008). At this stage all previous leads (incl India) would be back on (apparently they are still very interested once the technology is "proven").
Stage 3 of the master plan (2010+) is the 250tpa plant (in Victoria, fed by the mountains of "waste" ilmenite produced by BMX and ILU that they have no use for. Apparently ILU are planning to just dump it back into their mine and BMX plans to stockpile it [perhaps for when they buy out APG and process it themselves?]. So both ILU and BMX should be happy to sell the currently unsaleable stuff - hopefully cheaply - to APG. Also there are lots of eager customers waiting too.
Meanwhile we wait for the first bit to fall into place.
Stage 4 is world domination of the synthetic rutile market.........

I would be interested in other's opinions as to whether we are seeing an attractively big "double-bottom" on the chart. The support of 2.5-3c has withstood many assaults so far. Maybe this will be the last one.
If APG can get to Stage 3 of the plan those of us still in (having bought at under 5c) will be very well off indeed.
They have survived till now through much harder times. They have a cash facility to draw on if they must but have wisely avoided it largely until now. Barring disaster they won't go broke in the next 3 years. By then - who knows?
Meanwhile, there are shares on offer at about 3c (occasional dumps to 2.9 so far, maybe even lower since the big bidder dropped back to 2.6). For the brave, this could be doubled or better depending on the reaction when FINALLY the announcement comes - sounds a bit like GTG! It might be as late as March06 although I think it will be sooner (but not this year).
Less questions and more of a quiet resignation amongst the shareholders this year. Last year I think the Directors had a tougher time. There was no real sense of outrage or despair - just a few more months to wait - what's that to the average APG holder?
Furthermore last year I asked about the risk of takeover and was rebuffed somewhat - this year they are even more vulnerable I think (someone else asked the question) and the response was more like "Che sera, sera. Whatever will be will be". The register is wide open (although our mysterious "other party" may offer some protection should it come to that once the deal is announced).
What this company needs is an entrepeneurial type with $5M to spare - it would be a calculated but I think worthwhile risk (any takers out there??? Don't call me - there are eager Directors waiting for your call.....)

Note - all-time high = over 50c (12 years ago)
Once again I will give them 6mths.

Cheers,
sasa