one to watch, page-20

re: apg -fijian holiday over Hi Guys,

Excellent research Seik. Well done. The NZ steel story very interesting. Do you still think it fits in with the statement on APG's announcement in that "The company has been seeking a technology to enhance the recovery of minerals from mine waste".

I personally wouldn't have tied "iron sands" and "mine waste" together. Anyway if it is BHP/NZ steel the long term financial implications for APG could be substantial.

On matters financial, in your conversation with Nick Gaston, Seik, was any mention made of further working capital as I note they appear to have only $200K left for this quarter and we may be faced with yet another (minor) dilution.

Rgds