APG 0.00% 0.2¢ austpac resources nl

- signs of interest

  1. 410 Posts.
    The market depth has changed today with buyers wanting in at recent low prices. Here is part of announcement made this morning:

    AUSTPAC RESOURCES NL 2002-07-31 ASX-SIGNAL-G

    HOMEX - Melbourne

    +++++++++++++++++++++++++
    QUARTERLY REPORT TO 30 JUNE 2002

    HIGHLIGHTS

    * Ginkgo testwork continued at the ERMS facility Newcastle funded by
    BeMaX.

    * Austpac Resources N.L. and Ticor Limited advanced with negotiations
    on a new agreement to replace the current world-wide agreement for
    the use of the ERMS/EARS synthetic rutile processannounced in July
    2000.

    * Austpac and Ticor are also renegotiating the AusRutile agreement
    with Indian Rare Earths Limited (IRE) to cover the feasibility study
    and possible development of a 100,000 tpa ERMS/EARS facility at
    Chatrapur. The original agreement, signed in October 2000, envisaged
    building a 10,000 tpa ERMS/EARS synthetic rutile plant adjacent to
    IRE'S heavy minerals processing facilities near Chatrapur in the
    state of Orissa, India.

    * Austpac is currently involved in negotiations with a North American
    corporation with a view to forming a fully financed joint venture
    involving the establishment of an ERMS/EARS synthetic rutile plant in
    conjunction with an international mineral sands development.

    * Austpac is also involved in negotiations with a major Australian
    company for an exploration joint venture in the Murray Basin.

    * Testwork for a European group to reduce chrome levels in an
    ilmenite concentrate from a large heavy mineral sand deposit is being
    planned for the next quarter.

    ------------------------------------------------------

    Cheers,
 
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