I was curious to see if there had been a reason for the sp...

I was curious to see if there had been a reason for the sp rising to 20 cents on 7th. March 2006 and noticed its rise started on 6th. September 2005.
On 22nd. June 2005 there had been a placement to raise $450k but the sp did not start to rise until 3 months later and it was not until 3months (after the peak)later there was an announcement, part of which I have pasted below
Extract from announcemnt:-
The new equipment will also be used to demonstrate the process to interested parties in the iron and steel industries, where there are two immediate applications:
• The use of the EARS process to regenerate hydrochloric acid from pickle liquor and to recover iron units now lost as mill scale or baghouse dust. This has potential for integrated steel and rolling mills with pickling lines and discussions are underway with a number of local and offshore groups in regard to this application. Testwork has now demonstrated that it will be feasible to economically recover one tonne of acid and 1.6 tonnes of iron pellets from each tonne of spent pickle liquor and 2 tonnes of waste mill scale and/or baghouse dust. Our process has major positive environmental implications as baghouse dusts are generally regarded as a hazardous waste with high disposal costs.
• The potential for the direct reduction of iron ores, which is a powerful new application for our process. Preliminary work has indicated Austpac’s reduction process is applicable to iron ore fines, and this will be confirmed during the next month once the continuous test rig has been completed. It is believed that this process will be competitive with other direct reduced iron processes, and this will be confirmed in larger scale trials. The metallisation section of the EARS plant that will form part of the Newcastle ERMS SR Demonstration Plant will be used for these trials. The commercial implications for a new process that adds value to iron ore are very significant, and this aspect is being actively pursued.
3. Murray Basin - WIM 150; a New Source of Ilmenite - Fluid Bed Agglomeration
Austpac’s WIM 150 deposit is recognized as a very large resource of fine heavy minerals that have been regarded as difficult to beneficiate. Earlier work by Austpac demonstrated that the ERMS SR process could be used to upgrade the titanium minerals from WIM 150 to an acceptable grade synrutile, but it was too fine to be accepted by the market. Thus for some time we have been evaluating methods of pelletizing this material without adding a deleterious binding agent.
Last month, drawing on our experience with fluid bed roasting, we constructed a fluid bed agglomerator to agglomerate fine high titanium minerals. The initial trials, which produced ideally sized “Hi-Ti” pellets, were highly encouraging. The design of the agglomerator is unique and further patent applications will be made as necessary. Additional tests will be undertaken over the coming months, but when developed this new agglomeration process will unlock WIM 150 and give Austpac its own source of ilmenite in the Murray Basin.
Agglomeration of fine titanium minerals using this new process would also open up commercial possibilities for co-operation with other mineral sand and titanium feedstock producers.
ShareholderUpdate(7July2006)

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