Further to Mike's post, here is David Haselhurst's - aka 'the Speculator's' - comments in the Eureka Report tonight:
""Austpac attracts world-scale partner
As many patient punters have learnt, investing in technology developers can be a ?chancy? business with long lead times. It?s not for widows and orphans.
But the rewards can be sensational if successful (as we hope with our biotech stock Viralytics). Here?s one that appears to be on the threshold of recognition, which will open the doors to worldwide markets.
Austpac Resources (APG) is a minerals technology company focused on titanium, steel and iron ore industries. It has been listed since it emerged in 1886 as an epithermal gold prospector and in that time has accumulated losses of close to $53 million.
Austpac?s key technology transforms ilmenite into high-grade synthetic rutile, a preferred feedstock for titanium dioxide pigment and titanium metal production. The technology also is being used to recycle waste chloride solutions and iron oxides produced from steel-making to recover hydrochloric acid and high-grade iron.
In January, Austpac announced an ?in principle? agreement with Kronos Worldwide Inc, a major titanium dioxide pigment producer, to invest in Austpac?s Newcastle facilities, including the funding and commissioning of an iron recovery plant. The plant will recycle mill scale and pickle liquor in collaboration with Orica.
I understand a definitive agreement is imminent.
Austpac now has on issue 939.65 million shares, which have moved up from a 12-month low of 3.1? to a recent high of 7.4?. At today?s 6?, the company carries a market capitalisation of $38.4 million, with cash at bank at the end of the December quarter of $1,088,000.
This week: Bought 40,000 Austpac (APG) at 6? = $2420 (inc brokerage)
David Haselhurst writes a monthly column for Money magazine. Please note that he is not able to provide personal replies to emails.
Keep the faith.
APG Price at posting:
6.3¢ Sentiment: ST Buy Disclosure: Held
