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Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play
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To: Winzer who wrote (207)1/4/2000 1:17:00 PM
From: chevalier  Read Replies (1) of 343
 
I just had a chance to read all of the newspaper clippings about the deal and a couple of thoughts come to mind. Firstly there is a period of due diligence until April 15th when the deal closes. Therefore this is not a finished deal yet. Secondly, however, the Economic Minister, Balser, put his foot in his mouth when he stated that this time the deal will close. The government really has no choice but to make this thing happen.

The media over the next few weeks is going to be very interesting. It will no doubt be a rollercoaster ride as there is sure to be some snags along the way before April 15th.

I am also happy that the truth finally was printed in the media that it will cost up to $500 million to shut down SYSCO, a figure that the taxpayers will not want to pay for.

There is still a lot of details that need to be told, who owns what percentage of SYSCO etc... What is most important is that I believe that the consortium is committed to building the Direct Reduction Iron Furnace that is needed in order to produce the titanium slag/pig iron. The cost of this type of furnace should be somewhere between $100 million and $150 million! The fact that Nar is part of the consortium and will end up owning a piece of SYSCO is an added bonus that was never anticipated!
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