Finally something to talk about, I've done some research around their quarterly report putting together the Australasian company in one part, and the illmenite and iron oxide in the other parts of the announcement. Found this website on the history of the New Zealand Steel industry http://www.techhistory.co.nz/pages/Iron1.htm Fascinating read, I didn't know NZ had high illmenite iron sands as the basis of their industry and actually use a modified Lurgi system to get their iron away from the illmenite contamination to feed electric arc furnaces. If APG can do an ERMS EARS ERMS process to get the iron oxide back to metallic iron as the announcement seems to suggest then the efficiency of the NZ process would be through the roof at a guess. If this isn't where the Australasian company is I'll have to suggest it to them. Here's hoping. NZ Steel is a subsidiary of BHP, wouldn't that be nice.
As to the synthetic rutile plant, they are actually negotiating a syn rutile take off contract, thats an excellent sign. The banks wouldn't go near Bemax until they had one of those under their belts. And here we have Austpac negotiating illmenite supply and sale of finished product, sounds a lot better than I thought.
Still a speccy but these blokes don't give up do they.
Cheers
Seik
APG Price at posting:
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