I believe that some people were expecting this trial to be wrapped quickly.I cant see where the company has ever said this was the case.They said back in March that the equipment had to be modified. As far as I can see they have started and expect results in the next quarter.
March 9 announcement; A pilot scale test program will commence in late March 2017, including upgrading and recommissioning the existing equipment at the Newcastle plant, followed by the production of at least 5 tonnes of reduced iron/zinc oxide pellets for testing at a commercial foundry.
March 16 announcement; The upgrading and recommissioning was mentioned here and they said this would culminate in producing 5 tonnes of product.
April 28 announcement;Info from announcement;
The test work commenced in March.
Refurbishing and modifying evaporator.
Modifying fluid bed roaster.Drawings are getting done.
etc etc
It is expected that the trial will be completed in July / September quarter.
To be clear, I'm as bored, frustrated, done, as you guys are and hold a fair wack of shares, but I also believe in the technology, so will hang in there.I acknowledge that there is a long history of time blow outs and deals fading away but in this announcement, I didn't see anything more or less than what they said recently in the two previous announcements other than to expand on the upgrade more.
Anyway, just trying to put some perspective on the announcement regarding the upgrades and testing and no,I haven't been to Pitt St recently drinking the coolaid.
Now, diving back into my bunker!Incoming!!
Cozzie
APG Price at posting:
0.6¢ Sentiment: Buy Disclosure: Held
