agm results etc, page-8

I had a good long chat to Mike S about Gold. Nothing before the New Year so any announcement in the short term will not be about gold. The gold is proving difficult contractually and nothing concrete expected before the next quarterly. I would not be surprised if the gold venture goes cold if no agreements can be reached within 6 months. The good news is that this is a free carry for APG as Archipelago are footing all costs to date but I guess their patience may be tested in the NEw Year

APG has many interested in Arc Furnace byproducts (dust and millscale) but would be looking for a licensing arrangement as this is too big for APG to handle and cope with the other technologies.

MT's trip to Europe to see fund managers (>100) unfortunately coincided with supprime and Northern Rock so many fund managers were not all too keen under present climate. MT did say that some good contacts made for the future when APG has runs on the board (ie completed demo plant)

I got the impression from MT that there would be no announcements before XMAS but i guess he is not in a position to confirm or deny the prexmas announcement speculation. ( exception was a possibility of one on the EPA license)

Nonetheless the enthusiasm for the next 12 months was infectious and the hiring of at least 10 new staff was a good sign things were on the move.

Nugget and Sasa have pretty well covered the rest.