agm results etc, page-7

Nugget covered most of it pretty well.
I might add a couple of little snippets:

The "demo plant" that APG have so long dreamed of is referred to by BHP as the "pilot" plant, to be followed by the 60K tpa plant which is the "demo" plant (in BHP terms - sounds pretty commercial sized by APG terms). Methinks they (BHP) have big plans...

The environmental aspects (discussed later with John Winter) are remarkable - not really emphasised in the AGM itself. This will be a major selling point, as APG process waste and turn it into dollars. Note that we have an EPA licence as a waste processor (important).

The DRI units are great. For about $6M capital cost you get rid of or recycle waste and make $10M a year - might be a popular buy in all those steel-making places around the world (I think there are a few of those).
The DRI unit at Newcastle ("demo") will be full commercial size and will handle all of Newcastle's waste liquor and furnace waste - this will be the first income flow in about 12mths - $4m the first year and $10m every year after that.

Estimated (conservative) income of $50M by 2010/2011, with plenty of blue sky that can add to that by then - a bit under 10c a share (on current count) - make that a PE of 10 and hey presto -> sp = nearly $1. I don't think we'll be waiting until then for $1.

Meanwhile of course because nothing "new" came out of the AGM and it is unlikely that anything big will be announced before the New Year, the sp will drop now to (my guess) about 10c (maybe less if people are very impatient).

Between now and next AGM, we will see plant finished (Jan 08), plant testing complete (June 08) and in between the announcement by BHP that the 60K tpa plant is officially happening.
Q: What will the sp be by then?
A: More than now (more than 15c anyway) - the trick is to guess how much more.....

Once that plant is shown to work just as promised (and I really believe that it will, and so do all the people working there, including the BHP boffins) then it will be like opening the doors at the Grace Bros Boxing Day sales - it will be a stampede of interested parties - APG will need to get some extra phone lines put in.

Gold is the sleeper - might just keep snoring right through next year or maybe might wake up with a start!

Great to catch up with everyone over lunch.
A few more faces to match the nicks.
I guess we will here more from them as they recover from the post-AGM drinks.......

If any of you who were there pick up any glaring errors here please say so (its hard to see through these silly rose-coloured glasses sometimes).

Waiting for good things (waiting waiting....)

sasa