Recently ex CMC metals man Colin Isles joined APG management on a consulting basis. He his driven, has a good track record AND GETS THINGS DONE!!
From calls I have made to the company it appears that he has achieved a great deal for APG in the few months he has been involved.
Cozzie is right in the fact that India, Sri Lanka and surrounding areas are rich in mineral sands however the last attempt by APG was hindered by red tape in the area they were looking to build a plant resulting in government approvals almost becoming impossible to get. Hence the project did not proceed.
The commentary in the previous quarters refers to a potential deal and funding in Asia which includes the areas I referred to above. In a different part of India, Sri Lanka or surrounding areas approvals may be much easier to get if not already achieved by the purported company APG will be getting involved with.
Hopefully news re the Asian project is due soon.
In the meantime our man of steel Colin Isles no doubt is getting up to speed with the technologies (other than steel(Tio2 etc) which shouldn't be a hard task given his experience with steel plants.
APG need to strengthen their management, conclude the outstanding transactions, generate new deals and get the job done.
Right now they need strong leadership, money and contacts in steel manufacturing companies around the world and particularly in the US. This is something I would expect to see very soon.
APG Price at posting:
1.1¢ Sentiment: None Disclosure: Held
