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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play
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To: Winzer who wrote (15)8/10/1999 6:00:00 PM
From: chevalier  Read Replies (2) of 343
 
The sheer size of this deposit is what really makes it exciting. I gather that you live in Nova Scotia. I visited the property once and it is a real exciting thing to see. The sand at the bottom of the river is black (Titanium) and can be walked on when the tide is out. The resource estimate of 308 million tonnes is based on widely spaced drill holes to a depth of 15 feet only. The sands could go to 40 feet or deeper before hitting bedrock thus illuminating the hope for 1 billion tonnes of Titanium bearing mineral sands. That would put this deposit in a class similar to Richards Bay Minerals (50% Rio Tinto/ 50% Billitons PLC.) which has annual revenues of roughly $800 million U.S. with after tax profit of roughly $200 million. RBM's produces a titanium slag using electric arc furnaces, an asset that Sydney Steel has. After speaking with management guestimates are that the mining costs they will incur will be roughly $2 U.S./tonne and they are hoping to have $10+ rock once the metallurgical work is completed in a few months time. Using modern dredges they are hoping to suck 2000 tonnes of sand per hour so you can see how lucrative this deal may end up being. I really believe that this story is going to become more important and much more closely watched in the weeks and months to come.
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