Two obvious unkowns are:

1) How may tonnes of 25% TiO2 slag are required to produce 1 tonne of 99% TiO2 ?

(likely proprietary information)

2) Is there strong indications to reasonably expect that the conversion process would be economically viable at the commercial level, enough so that it could be deemed to be a "Disruptive technology" ?

3) Would Pangang (or another entity) pay in advance (at least partially) for a patented process prior to it being fully tested via a Pilot plant?

Cheers,

Luker