has anyone actually read the announcement, page-9

Hey fellas

APG ERMS SR is still unproven and what's more the market knows this. There are still 2 major steps to prove the technology:

1. The 3ktpa demo plant, and

2. The 60ktpa plant. Once this one is in production, we can then all say that ERMS SR is proven AND commercially viable technology.

Until that time there is still an element of risk, sure it's decreasing but it's still there. I don't rate APG a high risk stock anymore - my personal risk rating is medium - high. After the 3ktpa plant I'll reduce the risk to medium BUT mineral sands is a sector that very few investors know anything about. And analysts tend to specialise by sector(s) and mineral sands isn't a sector where there is a lot going on at any one point in time.

In the meantime pump and dump is the only way you'll make money out of APG unless you take a long-time view and just hold.

Yesterday I noticed a lot of APG shares being crossed.
Maybe a broker (or 2) buying at 13.5c prior to the announcement and selling to clients the next day at 15c perhaps???

The bit in the announcement that I thought was really interesting (and clever if I've read it right) was what I suspect might be a bit of a carrot and stick to keep BHP in for the 60ktpa plant development. EARS and DRI are part of a "fully integrated ERMS SR demonstration plant" (para 1). However in the last para it says it "will facilitate the showcasing of these technologies [EARS and DRI] for applications in the steel industry once the ERMS SR program with BHP Billiton has been completed."

I read this to mean that APG is saying to BHP if you don't keep going with the 60ktpa plant we'll just concentrate on selling EARS and DRI to the steel industry, and thanks the demo plant assistance. If on the other hand you fund the 60ktpa plant we'll share the proceeds of DRI and EARS. Very cute, a really nice one - but it'll play havoc with my risk assessment !!!!!

:)
Lekki