Dec 18 (Reuters) - Austpac Resources NL APG.AX :
* Shareholder update APG.AX
* Austpac is in discussions with Australian finance house and an associated US finance group regarding a project finance facility of up to $15 million
* Talks with ixom operations pty ltd and abr process development for commercial development of the newcastle plant continue to progress well
* Terms have been agreed for a series of convertible notes totalling $1.2 million to provide working capital for the company
* Says exploration licence 5291 has been renewed for a term of four years
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