Ann: Creasys Yandal Increases Stake in APC, page-17

It is maybe a good thing at the moment if you have the spare cash to invest. Better buying at these cheap prices than in one years time. From my perspective the price will move on FID going through (even though in my opinion this is a formality). A lot of market valuations are conducted based on revenue and operating income, which APC do not really have any to justify an increase in it's current valuation. Other third parties look also at stages of project and take a more speculative view of the company based on a forward position. There have been valuations lately past 30 cents for APC. Valuations for me should be based on a combination of core financials plus looking at speculative milestones. As each milestone is achieved this will just add pressure to the valuation. What makes it interesting is that also based on other resources we own, this valuation could easily blow out to higher grounds if all conditions are right and tests prove high concentrations and resource life.