I'll write the positives ......some else can tell the negatives and there are a few
Technology altered now giving revenue >$20m for NIRP Newcastle plant. (probably one for humms to explain) Patent lodged. No costs or profit figures provided when asked as he didn't want to give inaccurate figures which seemed strange but Chairman in a later discussion indicated very profitable from figures he has seen. Closest technologies are in the US where one company only recovers 60% Zinc to APG 90% and the other company is even worse and now in chapter 11
US steel companies interested, made approaches to APG and discussions held re them funding completion of plant.
Potential to get $4m grant for plant
Around $1.5m claimed for R & D
Turbo said Asian deal included royalty of millions and equity in project with no shareholder dilution. Received correspondence last week re Asian deal and appears hold up is to do with either them or another company wanting to have all funds for plant and mine in place and that they were in the final stages of completing the funding arrangements with a UK fund that deals with these sort of projects.
They introduced a new person to the meeting ex head CMC metals Australia 17 years who will become more involved including using his contacts in the US steel companies and has already re introduced APG to Bluescope to which meetings have already been held.
He said he has contacts in the US that are very involved in multiple steel mills/plants.
Great to catch up with some of the usuals and especially TJ.
