Wilcox - your post is about the lack of cash and the time its...

Wilcox - your post is about the lack of cash and the time its going to take for APG to refill its bank accounts. I think the 2 agreements referred to in the quarterly, and that will (hopefully) be announced soon, will provide adequate short term funding that bridges the gap to ongoing operating cashflows.

In regards to #1: (in your own words) The USA agreement will provide "funding for testwork & an engineering program at Newcastle", with a longer term aim to exploit APG's technology in the USA. So that seems pretty clear to me that short term funding is to be provided for the test work and engineering program. The big result will be a successful test program - similar to the BHP program many moons ago - as if this company doesn't follow through there will be plenty of other US companies willing to exploit this then proven technology.

In regards to #2: Let's review the statements in the quarterly again.
- APG has "been approached by a company with a significant heavy mineral resource in Asia".
- "Negotiations are nearing completion on the terms of the license".
- "On conclusion of the agreement, the company plans to undertake a scoping study followed by a bankable feasibility study, and it will establish an entity to manage the construction and operation of the ERMS SR plant.
- "The license agreement is awaiting final approval from the company's board"

So there is a clear path forward for a company with a big mineral resource that wants to maximize the value of that resource. The question is timing - how much and when will APG get money from these agreements? It really depends on the structure of the agreement. Previous agreements (e.g. Kronos) included up front payments. So it may well be there is some money on the table right up front, once the agreement is signed. There may or may not be more money later depending on what they negotiate. I somehow doubt APG will negotiate a cashflow negative agreement given its current cash position.

But your point is taken, it is critical for APG to get these agreements across the line ASAP so that further working capital from shareholders isn't required.

Reading between the lines from recent trading, the market expects these agreements to be signed in the very near future.

Cheers,
FG