The way I understand it:Austpac Resources NL (ASX:APG)currently...

The way I understand it:

Austpac Resources NL (ASX:APG)currently holds 100% of EL4521 WIM 150.

They had a farm-in agreement with Australian Zircon NL (ASX:AZC), for AZC to buy in up to 80%.

AZC tried to on sell it to ATR but APG mustn't have been too happy. The courts have now ruled that the farm-in was not transferable, so ATR has no contract with AZC.

I think this ruling is insignificant to ATR. This tenement isn't critical to our business and we shouldn't have lost much money (if any).

If you look at ATR announcement on 18/02/2011, titled "31 December 2010 Half Year Report", page 17, point 5.

"Acquisition of the Business of WIM 150.

In March 2010, Astron entered into an agreement to acquire the WIM 150 Project for $5,000,000. $500,000 of this amount has been paid as a REFUNDABLE DEPOSIT which is included in prepayments. The sale was conditional upon transfer of the exploration licence from the seller to the Company. As at the date of signature of these financial statements this condition as has not been met."

I doubt very much the drop in our SP was due to this. People are thinking we might go into a double dip recession which will cause Zircon prices to drop again, hence the dump.

The positive new job figures in the USA on Friday should allay these fears for the time being and we should see a rise in the SP next week.