July 14th, 2015:

Chinese Pangang Group has sent Magpie Mines Inc TiO2-concentrates (grading about 47% TiO2) and BF-slags (grading about 25% TiO2 in order for Magpie to carry out metallurgical testing

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Pangang Titanium Industry Co., Ltd. is the largest integrated titanium complex in China and well-known in the world, has Titanium mining, ilmenite, Titanium slag, TiO2 pigment,Titanium sponge and Titanium mill products through the whole industrial chain.

Currently, Pangang Titanium is largest producer of ilmenite(800kmtpa), titanium slag(180kmtpa), titanium sponge(20kmtpa)

(Thats 180,000 metric tonnes per year)

http://www.pangang-titanium.com/?act=list&aid=610&id=611

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"In the case of the ilmenite rich concentrate (47% TiO2) samples, tests produced high-grade synthetic rutile (titanium dioxide) products grading over 98.5%, with over 95% recoveries. Remarkably, and unexpected, were outcomes of the slag testing, which resulted in an almost pure TiO2 product grading 99% TiO2. This latter result can be considered something of a game changer in the licensing process model being followed by the Company, knowing the availability of large amounts of slags that are being dumped as waste by many smelting operations throughout the world."

http://fancampexplorationltd.ca/images/NR/2015/11122015PR.pdf

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6 month titanium prices

http://www.infomine.com/investment/metal-prices/ferro-titanium/6-month/

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I believe that titanium dioxide is valued at ~$4,200US per metric tonne

http://minerals.usgs.gov/minerals/pubs/commodity/titanium/mcs-2015-titan.pdf

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"the titanium dioxide capacity worldwide in 2013 was 6.56 million tons...China accounted for approximately 45% (~3 million tonnes) of the world's total "

Titanium Dioxide Industry Trends and 2017 - 2019 Forecasts for Global and China Regions :

http://www.prnewswire.com/news-releases/titanium-dioxide-industry-trends-and-2017---2019-forecasts-for-global-and-china-regions-284067121.html

Cheers,

Luker

...just some numbers to play with...