homework ? financials newcastle ears plant, page-16

Hi buddy,

Good point, but as a spectator for much of the process my understanding was always that funding of the stated milestones was (openly) the BIG PROBLEM. Various scenarios were considered and while awaiting the input of a serious partner (say, for example, a company like BHP or Kronos), they were hoping to do it on a shoestring with the dribble of funds from private "sophisticates". Ask Nick Gaston (company secretary) what a FUN time he has had the last several years, NOT! Of course, regular expenses wait for no man, so admin probably soaked up a lot of that, hence little progress made, especially on long lead time stuff like those bloody valves (have they come yet??).
Just keeping the dream alive was the main game, and many were hoping APG would fail and the technology could be snapped up for fire-sale prices (Iluka for example), so they resisted the urge to actually step in and agree to a mutually beneficial deal (hoping to have the lot themselves).

So, in the end here we are 10 yrs later with some hope that this will finally be the dawn of the "New Age of APG".
I have made some money on the way (more by accident than design), some cleverer than I have made lots while at the same time also being important contributors to "the cause".
I am a much more patient person, so it has been good for me ("no pain, no gain"?). I have seen the edge of financial disaster, but luckily am now relatively safe from that, and if things finally work out, will never have to worry about that again, nor my kids hopefully...

I agree buddy that, from the outside, it's not a really good look. That's part of why it is languishing even though it would appear that the little duckies are all lining up.
Outside people considering an investment in APG would reasonably think "I'll believe it when I see it" and accept that they will have to enter at a higher (de-risked) price.

I really think that that will happen so have put back my expectations to end of year which, happily coincides with being after the 12mth anniversary of my biggest purchases so I can enjoy the CGT bonus too. I look forward to a massive tax bill for the 2012 financial year!

Good post mate.

sasa