Fergus, My ramblings are pure conjecture and uninformed at that.
The Newcastle boiler mentioned in the quarterly is presently fired by diesel. Presumably a coal fired boiler could be substituted and fueled by coal. An incomplete burn of the coal produces char,,maybe this is a useful steel making coke.
Who is the International Major ? Worley Parsons has won a large contract to reactivate the Syncrude Canadian Tar Sands projects but we rule them out as they are not steel producers only oil and Ti O2.
Posco would be aware of APG via the WIM 150
Kumba Steel http://www.kumba.co.za/profile_about.php had links with Ticor and they funded ? APG research in the distant past.
I am sure APG would have got print space in the various trade magazines .. APG is out there pushing but alas the identity is in confidence.
Conceptually it does not matter where the money comes from to fund APG progress but as a shareholder I prefer non dilution. This quarterly marks the financial year end and financial health is displayed in the Annual Report.
All management is predisposed to present the best situation. A fascinating discussion on how Bank of America goes about this process can be seen here :- http://brontecapital.blogspot.com/2010/03/repo-105s-antecedents-ken-lewis.html
What I am saying is that APG cannot adopt a cargo cult mentality and build willy nilly without offtake confirmed.
I approve the conservatism and recommend any One Steel shareholders out there to serve up to the One Steel directors at the upcoming AGM the following question .
Are the directors aware of the latest technology advances in reclamation of acid and mill scale in the steel mill and the impact they would have on bottom line profit. ???
After all One Steel is struggling a bit at the moment.
APG Price at posting:
3.9¢ Sentiment: None Disclosure: Held
