It is interesting to read the blogs on APG, and I wonder if there is any realism in anything said. Is the talk all about increasing the SP to enable offloading shares to some sucker?
All the talk about getting the plant commissioned in a day with a new director (Colin I) being cheered on arrival as a saviour, who could possibly think that would happen? A new technology plant needs time to debugged, and this type of plant has all the nasties imaginable. High temperatures, abrasives, corrosives, hot toxic gases, sticky solids, I could not think of a worst possible case. And the plant is only partly completed, forgot what needs to e purchased, recall something about valves a few years ago.
CRA and BHP spent $B’s on a plant in WA to directly reduce iron oxides to metal, they walked away.
Put that with the fact that there is no manpower who are skilled to start and run, even if the plant is completed, and there is certainly insufficient funds to pay anyone, but MT at present, by the look of the books.
I wonder if JW is still on board, no mention of him lately, and it has been about 10 years since the ” highly” successful pilot plant was operated in 2008, it would be doubtful if any of the other consultants from that era are still available or interested in assisting.
And then there is the fact of a new owner of the premises. Is the EPA licence still valid to operate the plant? What if one major plant incident occurred, which is very likely considering the nature of the process, will the owner tell APG to pack up and go?
APG Price at posting:
0.8¢ Sentiment: None Disclosure: Held
