Well I think it is a positive report.My musings are as follows...

Well I think it is a positive report.

My musings are as follows :-

Benspurgen gave us an accurate account of the speculative end of the stockmarket -- he quotes Jesse Livermore who was notorious in the 1920's -- so the methods been perfected over a long time.

All those that came on board looking for a quick killing have received an education. The transformation from speccy to blue chip comes about through dividends. This time the latecomers are lucky. They will be able to sit this one out and let APG come good but they will have to wait 18 months.
As so often happens a short term killing turns out to be a long term investment. The pros have dumped and moved on.

BHP invested because they perceived a need, and demonstrated the viability of the technology.
Kronos have a need and are willing to spend.They have done due diligence before spending remember.
I suspect that the benefit to them is a reduction in the license fees from 7% for breakthrough technology to the more normal 3% level.

The share issue / capital raising would seem to be directed towards getting the acid regen plant really going thus ensuring cash flow. APG profitability will be reduced somewhat from earlier thoughts as they are going to be a processor through Orica and CMC [ they will want a slice]

The Kronos cash injection has replaced the urgency of the WIM 150 sale being completed.

In fact the [attempted] sale has acted as a catalyst in getting AZC to pull the digit out and comply with a bankable feasability milestone. Remember APG have a residual of 20% -- which could be quite handy IF the lawyers
prove to have been astute.

The thing that caught my attention was the exploration spend on gold of $21000 last quarter rising to $40000 in the next quarter for reassessment of old data bases held in Govt records. Just maybe they got some interesting hits when the December drilling of EL 5291 but not good enough to announce to the market.