no big announcement. Gold a long time coming (quoting "China time", which by APG standards must be a very long time), no disrespect to Mr Smith but it will be cream on the cake, not the main game.
Nothing officially excitingly new on DRI/ERMS etc, but a lot of "watch this space" - I'd lean towards sooner rather than later on steel.
Suggestions that current projects are keeping everyone very busy, no distractions from the main game at this stage (even if they discovered a better mousetrap tmrw, it would wait until current projects are seen thru to fruition) -Mrs Winter's boy is kept very busy. I hope he is kept in cotton wool and well rewarded.
BHP there last week, very positive feedback. BHP get a report every week from site, otherwise have met 3 times for progress reports, otherwise leave JW & co. alone to get on with it. BHP see this as outstanding value "they couldn't do the drawings for $5m". Plant close to schedule, delivery dates noted for outstanding equipment. 550t of ilmenite for test will be increased to 750t, 100t of that delivered to the back door by rail containers from Corridor Sands (but that is still years from being a goer). All positive there, it seems.
Slabs being poured for tank farm etc. Have EPA approval as a waste disposal processing site.
All items passed unamimously (or very close to it - only 1 "no" vote for 1 resolution that I recall), proxies overwhelmingly in favour of all resolutions.
Positive cashflow coming in future years (S-M term). See presentation posted tmrw for details. Numbers based on historic scrap steel and synrutile prices, at current prices it looks substantially better.
Run through on the various processes. Lots of international interest in processes and by-products.
Drinks were good - our "dividend" for the next year or 2, then see what happens.
What else have I forgotten? Good to catch up with a few regular posters. Cheers to all. regards, Nug
APG Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
