austpac and orient zirconic sign two agreement, page-9

All we need to do is get a plant built. This deal will get us there.

Question becomes what do you do now if you are Kronos and want to continue to play? Two initial options:
1. Offer up the money they've been stringing us along for. We know the floor for that $$ is 6c, perhaps more now.
2. Make a T/O offer.

Later is maybe unlikely in the short term, but if it stops us getting the Chinese the technology...who knows! Best part is that $7.5M required no dilution. And AZC have already indicated approval. Sure we lost a valuable asset, but the plant is our future, not WIM150.

Got to be happy with this announcement overall. Muted response, agreed, but it pretty much puts us on our way.

Guessing government approvals will take a few months, followed by 3-6 months of construction and commissioning. So may end Q1 2013 we will be operational now.

FG