its all good

guys re-read the announcement by APG

• Austpac is pleased to announce that the Company has placed 33 million shares at 6 cents each with Orient Zirconic Resources (Australia) Pty Ltd (Orient Zirconic) to raise $1.98 million.
• Austpac has also agreed, subject to the consent of Australian Zircon N.L. as farminee under the WIM 150 Farm-In Agreement, to sell E.L. 4521 to Orient Zirconic for $7.5 million.

The $1.98 million raised by the placement will be used to continue the development of the Newcastle Iron Recovery Plant, which is being constructed to recycle steel mill waste using Austpac’s EARS acid regeneration and iron reduction technologies, and for working capital.
The 33 million shares held by Orient Zirconic represents a 3% interest in Austpac, making Orient Zirconic the Company’s third largest shareholder after Kronos International (7%) and BHP Billiton (5%).

Orient Zirconic recognised the potential of Austpac’s steel mill waste recycling technology and agreed to pay a premium for the shares. Consequently the two companies have agreed that once Austpac’s recycling technology is commercially proven at the Newcastle Iron Recovery Plant, for a period of 12 months they will jointly investigate the potential for commercial applications for that technology within the Chinese steel industry.

That tells me they are interested in the technology of the plant regardless of the wim150 project, but if APG want to give it away they would take it.

1.98M in bank towards plant and further progress down the road. APG DID SAY if AZC consent so it looks like no big deal