re: china projects Seems Like IT!!From the Chairmans Address:We...

re: china projects Seems Like IT!!
From the Chairmans Address:

We have visited China twice to inspect the offerings and to discuss our possible participation in them with their Chinese owners.
China and particularly Xinjiang represent a new frontier in world exploration. ................. We are particularly keen on base metals in China as the country has considerable under utilised smelting capacity, especially for copper. Its current insatiable appetite for copper and other metals is best met from locally derived deposits.
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A non-binding Memorandum of Understanding has been entered into in respect of one possible acquisition, a copper project. The MOU is being moved through a process of review and approval by the Provincial authorities whilst Apex evaluates the available data on the project.
The next stage will be to negotiate the detailed terms for the establishment of a foreign cooperative joint venture. This process and other formalities are expected to be completed early in the 2004. Our costs so far have been minimal.