Argex's Massive Titanium-Vanadium Project in Quebec Featured in Mining Journal
posted on
Feb 11, 2010 10:01AM
NEAR TERM PRODUCER - TiO2
Titanium dioxide prices are expected to double by 2015
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Feb. 11, 2010 (Baystreet.ca) --
Mining MarketWatch Journal has published a review on Argex Silver Capital Inc. (TSX VENTURE: RGX). The review offers insight and opportunity afforded investors as RGX.V has transitioned from a CPC to a mining entity with very large historical high grade tonnage of titanium at its 100% owned La Blache Titanium-Vanadium Project in mining friendly Quebec. RGX.V has a proprietary metallurgical process expected to result in RGX.V being the lowest cost titanium and vanadium producer in the world, producing a pharmaceutical quality end product. RGX.V is aiming to be a large producer, conceivably producing up to 30% of the world's production of titanium. The La Blache Titanium-Vanadium deposit is a large mass near surface amenable to open pit mining and has historic (non NI 43-101 compliant as numbers predate current rules) tonnage of 20.5% Titanium dioxide, 48% Fe, 0.36% Vanadium. Drilling equipment is now on site to bring numbers compliant and build tonnage, also a pilot small-scale processing facility is expected to be complete later this year (2010) to showcase the metallurgical technology and springboard to large scale production/commercialization.
The full review and valuation commentary may be found at http://miningmarketwatch.net/rgx.htm online.
Argex Silver Capital Inc. is building a pilot small-scale processing facility in a step to commercialize its proprietary metallurgical process (for extracting titanium, vanadium, iron) and is taking steps towards open pit mining of its 100% owned high grade Titanium-Vanadium La Blache deposit located 100km from Baie-Cameau in Quebec, Canada. Argex's La Blache property will be the highest grading titanium deposit being mined in the world once in operation. La Blache has a historic (non NI 43-101 compliant) 78M tonne resource grading 20.5% titanium dioxide, 48% iron ore, and 0.36% vanadium that was first discovered several decades ago but was deemed to have too complicated metallurgy for the processing technology of the time. Originating as a Capital Pool Corporation Argex conducted a land assembly and acquired proprietary metallurgical processing technology rights through the involvement of highly accomplished metallurgists. Mining MarketWatch Journal has interviewed experts in the field who describe the metallurgical process as a break-through on par to what heap leaching did for gold and management of Argex believe the process will result in Argex being the lowest cost titanium and vanadium producer in the world. The next step is two-fold; 1) to showcase the technology in a small-scale processing facility which Argex is expected to complete later this year (2010) and 2) ready the deposit for open pit mining. A drill is now on site at La Blache and the historic tonnage is expected to be surpassed and brought compliant to NI 43-101 standards, this should not be difficult as the deposit was historically drilled only to a depth of 20m. The deposit is a massive large body close to surface. Conceivably, going down to 40m hypothetically could readily double the historic tonnage and provide decades of open pit mine life -- several holes will be drilled to between 150m - 250m.
With only ~52M shares outstanding and trading under CDN$0.50 RGX.V is poised for significant upside revaluation. RGX.V is currently capitalized with ~CDN$4M in the bank as of Feb 8, 2010 plus there are ~20M warrants outstanding (there is a forced exercise on the warrants; if the share price trades over 60 cents for a certain number of days the warrants at 40 cents get triggered). Large scale processing of the titanium/iron ore/vanadium deposit would springboard off the success of the pilot plant and management believes it could be facilitated in a non dilutive manner. Argex Silver Capital Inc. is new to the market and the current market cap relative to the inherent value of the La Blache Titanium-Vanadium Project appears disproportionate. RGX.V is positioned as the strongest titanium & vanadium opportunity in the market and is the only Canadian titanium pure play.
This release may contain forward-looking statements regarding future events that involve risk and uncertainties. Readers are cautioned that these forward-looking statements are only predictions and may differ materially from actual events or results. Articles, excerpts, commentary and reviews herein are for information purposes and are not solicitations to buy or sell any of the securities mentioned. Readers are referred to the terms of use, disclaimer and disclosure located at the above referenced URL.
Contact Information:
James O'Rourke, Editor
Mining MarketWatch Journal
editor@miningmarketwatch.net