Ann: Shareholder Update, page-7

From the annual report.

Could management be telling us something.

quote " The Opportunity Worldwide steel production is more than 1 billion tonnes, and all steel mills generate by-product streams. Once the testwork program is completed and the Newcastle plant is converted to an ongoing facility, Austpac’s business model is to export ZIRP technology via licensing arrangements of US$5–10 million (depending on plant size) plus a production royalty. This would constitute a minor investment level for a large steel maker generating upwards of 1 million tonnes of Fe bearing dust and pickle liquor. It is estimated an EAF plant generating 100,000 tonnes of EAF dust generates an income of US$100 million, while a BOF plant generates US$65 million."

niiiiiiice.