my take on the agm...positive, page-27

bhp rights issue As we all heard at the AGM they need about $4.5m to build the plant.

We also heard that companies are queuing to test the APG technology but APG have said to many come back when the plant is up.

I dont think these guys will get the opportunity to talk to APG as BHP will need to ensure they protect this valuable technology that they NEED.

We missed out with Inco for one reason and that was it will take too long to build the demo plant (6mths) and they did not have the time to wait.

So...lets assume all work is finished and BHP is happy to move to the next stage (this has already been strongly intimated) BHP will more than likely fund it for around 60m shares. Of course instead they may want to take a calculated risk and buy out APG.

Those we saw and met at the AGM included (g64, will1111, enigma13, tewkelberry, Barrios, Roger Ramjet, Nb1, JWT, 7 of 9, Seik, Musky, Ricky Roonie, Humms, Sasa and me) have a combined holding of 19% of the company. Between you guys and others I know I would say conservatively we are in contact with around 40% of the company

Some moaned and groaned about missing out on a placement. Of course they would without doubt have knocked it back because when it was first pitched it was at 7.0cents when the price was 6.4.

So, Hypothetically, who would be interested in a rights issue to raise the $4.5m which would allow APG to be independant and the question is also would this be a good move or not.

Feel free to comment and make any other suggestions for funding that come to mind.

Maybe giving BHP 60m shares is the best way to go!


Happy Days


ps...I remember the time they did a rights issue at three cents and a month later it was 54 cents thanks to the golden dome in Bolivia.

Now wouldnt that put smiles on your faces!