announcement out, page-25

Hi Linkman,
Sadly I couldnt agree more. Last week I trawled through announcements right back to Jan 09 and was disappointed to find so many excited references to negotiated contracts ( never signed though) and the one announcement which really hurt the most was the June 09 one, where they indicated supply and sale contracts would be wrapped up by Aug 2009. I was hoping not to still be in a position to post this negativity, but I am growing old and tired waiting for signed contracts. Having said, that I still believe in the technology and intend to stay on board but I am extremely disappointed in MTs inability to OFFICIALY close a deal.

(((Don't think so mate, if it was signed, it would have to have been announced to the market. So it is not signed. Maybe terms have been agreed, but it is not signed yet, and this is what we need and what seems unable to ever get done.

Still waiting for a signed deal.))


QUARTERLY REPORT TO 30 JUNE 2010 HIGHLIGHTS

A supply and sales contract has been negotiated with a major international steel industry corporation, for the supply of mill scale and coal, and the sale of Austpac iron and char that will be produced by the Newcastle Iron Recovery Plant, currently under construction at Newcastle. This arrangement will accommodate the start-up and first years of operations at the Plant, and allows for capacity expansion in the future.

THE NEWCASTLE IRON RECOVERY PLANT First Supply and Off-Take Agreement Negotiated

Austpac has negotiated an agreement for the supply of mill scale and coal, two of the raw materials required for the operation of the Newcastle Iron Recovery Plant. The arrangement also provides for the sale of Austpac Iron and char, two valuable commodities produced by the Plant. Additional Supply and Off-Take Agreements Austpac expects to conclude negotiations with a major corporation early in the coming quarter for the supply of pickle liquor to the Newcastle Iron Recovery Plant and the sale of regenerated hydrochloric acid produced at the Plant.


QUARTERLY REPORT TO 31 MARCH 2010

30 April 2010


HIGHLIGHTS
Supply and sales agreements have been progressed throughout the quarter

SUPPLY AND SALES AGREEMENTS
Agreements for the supply of raw materials and the sale of finished products have been progressed through the quarter, and a number of additional sources and outlets for products have been identified. Management is confident that all necessary agreements will be finalised prior to the completion of Plant construction.



QUARTERLY REPORT TO 31 DECEMBER 2009
29 January 2010
HIGHLIGHTS
Supply and Sales Agreements

Negotiations for the supply of raw materials and the sale of finished products have reached an advanced stage with agreement in principle on Austpacs requirements and the preparation of legal documentation is underway. The final documentation will be subject to approval by the relevant Boards.


QUARTERLY REPORT TO 30 SEPTEMBER 2009

30 October 2009
Supply and Sales Agreements
Negotiations for the supply of spent pickle liquor and mill scale and the sale of regenerated hydrochloric acid and ARI briquettes are at an advanced stage.

QUARTERLY REPORT TO 30 JUNE 2009

31 July 2009

The Company expects to sign contracts for the long term supply of spent pickle liquor and mill scale, and for the sale of the regenerated hydrochloric acid and iron products in August 2009.

Negotiations for the long term supply of SPL and mill scale are at an advanced stage, now that available quantities are defined, and it is expected satisfactory agreements will be reached with suppliers shortly. At the same time, agreements for the sale of regenerated hydrochloric acid for steel pickling and the sale of ARI briquettes for steel making will be executed. Applications are also being prepared to obtain the relevant approvals for Austpac to operate the EARS section of the ERMS SR Demonstration Plant as a steel waste recycling facility.

QUARTERLY REPORT TO 31 MARCH 2009

30 April 2009

HIGHLIGHTS

Negotiations are well advanced for the supply of spent pickle liquor (SPL), mill scale, and other wastes to enable the 13,000 tpa EARS plant to commence operations in 2009.

Negotiations are also well advanced for the sale of the hydrochloric acid (HCl) and the direct reduced iron (DRI) produced by the EARS plant.

Austpac has been discussing the supply of SPL and mill scale with steel mills and other industries which produce or handle chloride solutions or mill scale wastes, and has identified sufficient material to enable the project to operate successfully. The EARS plant can process environmentally difficult materials such as oil-contaminated mill scale fines and oil sludge wastes, which broadens the potential feedstock sources and fuels that the plant can recycle or use in the most environmentally acceptable process available. Negotiations are now well advanced with several groups for raw material supply and Austpac expects that initial agreements will be reached shortly, enabling the Company to raise the refurbishment funds and to commence the project in the next quarter.

Several groups have expressed an interest in purchasing the regenerated acid and DRI products, and Austpac is confident agreements will be reached for their sale in the next quarter.

QUARTERLY REPORT TO 31 DECEMBER 2008

30 January 2009

HIGHLIGHTS
Agreements are being negotiated to secure a supply of both spent pickle liquor (SPL) as well as mill scale (iron oxide waste) from steel plants around Australia and discussions are underway with a number of groups for the sale of the regenerated acid and DRI products.

Wr
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