Highly prospective exploration company
Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.
Message: Magpie - Estimated In Situ Value (USD) including vanadium
Argex Mining’s primary goal is to advance rapidly Titanium to production. Titanium Situ value is 5-6 times higher than iron. Same for Magpie, it should be treated as a Titanium player (iron is secondary). The metallurgical process (leaching, oxyhydrolysis methods, etc.) will yield iron oxide, purified Titanium and Vanadium all in the same process.
I added the percentage of vanadium (0.19%) in the table. Argex Mining has completed Fermont drilling with 43-101 estimated resource 30.9 million tonnes while Magpie deposit will probably tripled its inferred resource 201 million from deposit No.2. Magpie has more resource in Deposit #1, 3 and 4. Estimated resource in Deposit #1-4 is 1.1 billion tonnes.
Argex Mining will report PEA (Preliminary Economic Assessment) in Q3/2011. We will see the costs involved to bring the resource into production and mining operation.
PEA will include an economic analysis of the potential viability of the resource, forecast mine production rates, capital costs to develop and sustain the mining operation, operating costs, and projected cash flows
Estimated In Situ Value (USD)
La Blache
(based on NI 43-101 compliant resource estimate of 30.9 million tonnes measured & indicated)
|
TSX-V RGX |
TiO₂(Titanium) |
Iron Ore |
V₂O₅ (Vanadium) |
|
Price/tonne ($US) |
$3,300 |
$170 |
$15,000 |
|
Estimated Grade |
18.78% |
63.29% |
0.45% |
|
Estimated In Situ Value (billions) |
$19.15 |
$3.32 |
$2.08 |
|
Total Estimated In Situ Value $24.55 Billion |
|
Magpie
(based on inferred NI 43-101 resource of 201 million tonnes in Genivar technical report.)
|
TSX-V FNC |
TiO₂(Titanium) |
Iron Ore |
V₂O₅ (Vanadium) |
|
Price/tonne ($US) |
$3,300 |
$170 |
$15,000 |
|
Estimated Grade |
10.6% |
42.1% |
0.19% |
|
Estimated In Situ Value (billions) |
$70.30 |
$14.386 |
$5.7 |
Total Estimated In Situ Value $90.39 Billion
TSX-V RGX:Share Price: $.40
CAPITALIZATION
• 88,725,304 Outstanding Shares (basic)
• 23,320,777 Escrowed Shares
• 65,404,527 Free-trading Shares
• 4,837,500 Options
• 47,521,846 Warrants
• 3,460,020 Broker Warrants
• 144,544,670 Outstanding Shares (fully diluted)
TSX-V FNC:Share Price: $.30
CAPITALIZATION
• 74,680,000 Outstanding Shares (basic)
• 95,950,000 Outstanding Shares (fully diluted)
FNC holds 9,000,000 RGX shares (escrowed for 48 months beginning October 30th,2009)
2% NSR on the La Blache Deposit for the first 2 years of production rising to 4% NSR thereafter, buyback up to 50% NSR for $1.5 M advance royalty of $100,000 a year beginning at the end of year 3 (October 30th 2012).
Comparables – Undiluted TiO2 Resources
|
TSX-V :Company |
Shares Outstanding (millions) |
Share Price (CAN $) |
Market Cap ($CAN) (millions) |
Resource/Reserve tonnes |
Ore Grade TiO2 |
Undiluted TiO2 resources (tonnes) |
Kg of TiO2 resource per share |
|
ILUKA RESOURCES LIMITED (ASX:ILU) |
419 |
18.02 |
7,545 |
333,800,000 |
6.00% |
20,030,000 |
48 kg / sh |
|
KENMARE RESOURCES PLC (LSE:KMR) |
2,403 |
0.91 |
2,187 |
8,325,000,000 |
1.19% |
99,070,000 |
41 kg / sh |
|
SIERRA RUTILE LIMITED (LSE:SRX) |
386 |
0.31 |
120 |
604,900,000 |
1.35% |
8,170,000 |
22 kg / sh |
|
ARGEX MINING INC. (TSX.V:RGX) |
89 |
0.41 |
36 |
30,888,000 |
18.78% |
5,800,000 |
65 kg / sh |
|
Fancamp (TSX V:FNC) |
75 |
0.30 |
22.5 |
201,000,000 (Magpie Only a portion (section 14-20) of Magpie Deposit #2 of #1-4 ) |
10.6% |
21,306,000 |
284 kg /sh |
12 Recommendations
Loading...
Loading...
New Message
Please
login
to post a reply