You need to copy and paste to view the link in my previous...

You need to copy and paste to view the link in my previous post.

Failing that here is the Executive Summary commentary:

EXECUTIVE SUMMARY
Austpac Resources NL (‘APG’ or ‘Company’) has developed mineral technologies that are applicable to the steel and titanium metal industries. APG also has a 100% interest in EL 5291, located in the Murray Basin and considered highly prospective for base metals.
? The Company’s facility at Kooragang Island, Newcastle (NSW) has two sections; an iron recovery section and a synthetic rutile (synrutile) section. APG has substantially expanded the scale and capacity of the Newcastle Iron Recovery Plant and is presently focused on finalising construction of the iron recovery section with a view to starting commissioning later in the second quarter of 2013 and commencing production in the second half of 2013.
Once operational, APG is planning a staged increase in production to full capacity after ~6 months of operations.
? Further, internal modeling by APG indicates that at full capacity the project has the potential to make a net profit of $7.3 million per year and has a 2-3 year payback period. This assumes that the plant recycles 34,000 tonnes per annum (tpa) of spent pickle liquor and 17,000 tpa of mill scale, to produce 18,000 tpa of hydrochloric acid (HCl) and 18,000 tpa of iron chips or iron briquettes.
? The Company has reported strong interest in the technology from the steel industry as an environmentally acceptable method to recycle waste products, and believes this will lead to many significant commercial opportunities including licensing and joint participation in new plants.
? The Company believes the stock offers speculative buying appeal in the range of 4-8 cents per share, and has excellent medium term upside as additional opportunities in the steel and titanium industries are realised.
Production of Ultra-High Grade Synrutile for Titanium Market: The Next Commercial Opportunity
? APG’s ERMS SR technology upgrades low grade ilmenite into ultra-high grade synrutile with a titanium dioxide (TiO2) content between 97-98%.
? Ultra-high grade ERMS SR synrutile is recognised as a highly attractive (and alternative) feedstock by titanium sponge manufacturers which will command a premium price over the conventional synrutile product.
? The Company’s major shareholder, Kronos, is a significant TiO2 pigment producer. Recognising the potential of using APG’s technology at its own TiO2 pigment plants, Kronos took a strategic interest in the Company in April-May 2011, which enabled APG to commence the current iron recovery project and it entered into a licensing arrangement with APG, in order to use APG’s EARS and Metallisation (Austpac Reduced Iron, “ARI”) processes at Kronos’ TiO2 pigment plants.
? The economic viability of commercialising the ERMS SR Plant (i.e. synrutile section of the Newcastle facility) is supported by tight TiO2 feedstock supply and demand until 2015 and the forecasts by Ti Insights that TiO2 pigment prices will double to US$4,800 per metric tonne in 2015 compared to 2010.
Opportunities for APG once Newcastle Plant Commences Operations in Mid 2013
The Company has reported significant interest from a number of steel and steel-related companies, with commercial opportunities (such as ‘build-own-operate’ recycling plants, joint participation in new plants or licensing APG’s technologies to steel makers) likely to open up once the plant becomes operational.
Once operational, the recycling section of the Newcastle Plant will be used to trial large samples of other wastes, including mixed iron and other oxide fines from steel making and zinc-rich chloride liquors produced during galvanizing operations. Successful pilot scale testwork has also been undertaken on these materials. Larger scale trials at the plant may lead to additional commercial opportunities.
APG is progressing discussions with one steel maker (unnamed) who has requested APG conduct a 1,000 tonne bulk trial on a sample from a waste dump of fine contaminated iron oxide. Pilot scale tests confirmed this material could produce an iron product suitable for steel production. This trial will be conducted in 2013, with APG aiming to negotiate a site-specific license to recycle this waste.
Another steel maker is interested in replacing an old, inefficient acid regeneration plant with a new plant incorporating APG’s technologies to recycle all the waste streams from their facility.
A flowsheet of the EARS & Iron Recovery Process is shown in Figure 3 on page 5.
APG’s processes can recover hydrochloric acid, iron and zinc from waste pickle liquors, mill scale and electric arc furnace dust. APG also has a process to produce direct reduced iron from iron ore fines.
Timeline to Commercial Production
Construction and installation of equipment will continue through the first quarter of 2013. Over $6 million of equipment was delivered during 2012, including absorption columns for both the acid regeneration and CO2 removal sections, air blowers for the fluid beds, fans and liquid ring compressors for gas handling, the 33,000V power supply step down transformer, the waste heat boiler, heat recovery stoves, and specialist high temperature valves for handling hot oxides and iron produced in the plant.
Commissioning of the plant will commence later in the second quarter of 2013, with commercial production of iron briquettes and hydrochloric acid expected to commence during the third quarter of that year.

There are 16 more pages of the Report so you really need to get onto the link.

Cheers

JAWSY:)