impatient traders, page-10

Hi Musky,

"10% equity" ? is that calculated or a wild guess.

I would have thought 4.9% to stay under the reporting figure and avoid an EGM. That would give APG somewhere between $6m and $8m dollars however having said that I am starting to think it will not be enough as the $7m plant will probably blow out to $8.0m and that leaves no working capital. Also BHP may want a stronger hold on the company than a mere 5%.

So maybe 19% could be a go as that would give plenty t0 APG and let BHP put a strong foot on the technologies. Of course that will give APG somewhere between $22m at 20cents a share and $34m at 30cents a share and $44m at 40 cents a share.

I am pretty convinced the company is not prepared to issue shares at 20 cents as the price has already been above that the major shareholders will not be happy and more impoirtantly given all the other technologies and the One Steel deal I think all responsible parties will recognise that it has to be worth more than 20c...far more!

But 19% and $30 -$40m mmmmm, maybe too much stock, too soon...maybe not for BHP!

Certainly without doubt, I would have to assume the price will be well above 20cents for somewhere between 5% and 19% of the stock.

As far as putting a proper figure on this we will all have to wait and even at the lowest figures speculated I am sure we will hit 30 cents and anything higher from BHP will certainly see 40 cents.

A week or two more is neither here nor there!