Ann: Quarterly Reports-APG.AX, page-9

This is déjà vu all over again !!.
The great hope for completing the NIRP, from 12 months ago - Ixom and ABR Process Engineering are no longer mentioned in reports,  and APG is again changing its NIRP process.

APG has still not addressed the urgent matter of funding for completing the NIRP.
Apparently APG’s best hopes for moving forward rely on:

1. US company signing an agreement to “provide some funding for testwork & engineering program at the NIRPZ, which may lead to feasibility study for a NIRPZ plant in the USA”. How long could this possibly take?
2. Selling a ERMS SR Synrutile Licence to a company that does not not even have a heavy mineral mine operating. How long could it possibly take for the unnamed company to establish a mine/processing plant and then start paying APG a licence stream for upgrading Ilmenite?

Just a few months ago,( after APG raised $0.6m from shareholders and got another $2.3m as a Research Tax Rebate) a HC poster expressed the view that APG “ had enough money for 12 – 18 months”.  This is no longer even a remote possibility.
APG now has only $675k cash in hand.
In the last quarter APG went through an amazing $2.2m in cash.
In the last quarter APG spent an amazing $1.1m in cash just on Administration costs. The average cash spend on Administration in FY16 was $400k per quarter. The current $675k cash in hand is not enough to cover even 2 quarters of  average  Admin costs.
The Research Tax Rebate teat is now dry. APG received another $456k rebate in the last quarter. But this cashflow stream ( Tax Rebates = $2.8m received in the last 6 months) has now come to an end.

So how far can APG stretch its $675k cash – or how soon can it actually generate some cashflow (not agreements)
With current APG expectations at the highest for some time – perhaps it is time for APG to return to its more traditional forms of cashflow generation.
Time for another APG share placement perhaps ????.

Wilcox