I have held APG shares for over 3 years but have finally decided...

I have held APG shares for over 3 years but have finally decided to sell. The reasons for my decision are:

1/ The CRL/ILU deal seems to leave APG with the risk of getting the synthetic rutile plant up and running but appears to give ILU much of the blue sky.

2/ A huge amount of funds will need to be raised for the syntheic rutile plant and possibly (probably?) further dilution of existing shareholders will occur. The risk profile of the company may also have increased - it is a big project for a small company to get up and running.

3/ The Inco deal is exciting form the technological point of view but what are the likely dollars for APG? No indication has been given.

4/ The farm out to STN seems to remove more blue sky from APG. Also it looks like STN are not going to move on this project in a hurry.

These are my interpretations only, do your own research!