not long now- less than 8 weeks!!!!, page-2

iluka to miss out? Poor Iluka.....given the flick from QLD by APG and now I hear they are begging APG to do a deal in the Basin.

The ILU/CRL transaction provided for ILU to have access (via JV) to the APG technology for other projects.....mmmm I woner which one they had in mind?

Could it be the one that cost ILU $150m from Basin Minerals.....think so....! Typical Iluka. They tried to starve APG by refusing to assist APG with a bit of pocket money to build the plant in an effort to pick up the technology for nicks and nowthey are pushing APG to tie up with them in the basin.

It appears ILU thinks APG is stupid! If ILU want to value add using the APG technology on its deposit in the Basin ILUwill have to pay for it BIG TIME.

All indicators are pointing to the fact that the long awaited transaction will be finalised this month and hopefully before the AGM.

As speculated the transaction should provide project and funding for the demonstation plant. APG need about 6.0m being 5.0m to build the plant and 1.0m to operate it continuously for 60 days. Of course the upgrade has already started and bits and pieces have already been done so we could probably knock a mil of that figure.

If the transaction goes ahead this month the feasability study should be wrapped up by May 06. That is when the real action will happen.....what wil it be...will Cristal get to use the technology with Bemax and in Saudi Arabia or will it be ILU or one of the other overseas companies that have been patiently waiting.

If it is Cristal all the timming seems to be falling into place...that is...the bemax deposit comes on line this month, which takes a huge weight off the Cristal Balance Sheet allowing thier Balance Sheet to be used for another project....any ideas which one?

Cant be at the AGM this year....so those who are going..... enjoy...!

As I am not going to the AGM those who have my number feel free to call for our annual chat!