takeover, page-15

The Meretec process used caustic to de-zinc any type of zinc coated metals, ie not just galvanised steel, thus feed materials can be such as zincalum steel, and also if they after the zinc, the process can be used to reclaim zinc from any zinc bearing wastes or zinc dross, etc.

The money is in the steel thus they are concentrating with gal right now.

My only concern right now is their cash flow, as their bread/butter money is from the scrap division and if scrap buyers are standing on the side line, thus hoping that their cash reserve will be enough to sustain them through this night mare if no buyers.

The bright spot with all this is the drop of AUD $ from $0.90 (when they brought the scrap from local industries a mth ago) to $0.65 (when they sell all the scraps). The scraps are being sold to Asian countries, just hope that they can turn over quickly or else the currency advantage may disappears with the rapid drop of scrap prices.