Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Gold/Mining/Energy : TITANIUM CORPORATION INC.- The Next Major Mining Play -- Ignore unavailable to you. Want to Upgrade?

To: Baba 2 who wrote (17)	8/10/1999 7:46:00 PM
From: chevalier	Respond to of 343

the news lends significant credibility to the deposit. The world's third largest steel consortium (assuming that the merger is approved by European officials) would not be wasting their time if there was not something of merit there.

To: Baba 2 who wrote (17)	8/11/1999 11:04:00 AM
From: chevalier	Respond to of 343

The following came from the Cape Breton Post newspaper this morning: Viability study to be conducted with Hoogovens Sysco?s saleability may have gone up a notch or two with word of a study that will examine a major mineral deposit. NAR Resources in conjunction with the Titanium Corporation of Canada has agreed to proceed with a viability study with Hoogovens Technical Services, a wholly owned subsidiary of Royal Hoogovens, a major Dutch steel and aluminum producer. Royal Hoogovens have recently announced a merger with British Steel PLC, making the resultant company the world?s third largest steel producer. Titanium Corporation jointly with NAR is developing what is believed to be a world class mineral sands deposit containing the titanium minerals; rutile, ilmenite, and leucoxene as well as magnetite and zircon. The deposit is situated near Truro. The viability study is focusing on introducing ilmenite (an iron and titanium mineral) as a raw mineral feedstock for the Sydney Steel plant. The Nova Scotia government has retained Hoogovens to manage the provincially owned Sydney Steel operation (Sysco). Hoogovens is also working with the major Dutch Bank ABN-AMRO who has been commissioned by the Nova Scotia government to privatize Sydney Steel. The agreement deals with the evaluation of a potential new source of raw material feedstock for Sysco. If the material is proved suitable for steel production in Sydney there are several distinct advantages which would be realized. Firstly, Sysco would have a preferential source of raw materials, which would come from a Nova Scotia source, thus giving the company a distinct competitive advantage. Secondly, Titanium Corporation and NAR would benefit from a processing arrangement, which would augment their anticipated titanium production. The process under consideration involves locating a titanium slag facility at the Sysco site whereby two products would be generated, titanium slag and an iron byproduct. If a titanium slag facility were situated adjacent to the Sysco site it would allow the liquid iron byproduct to be used as a direct feed into the existing electric arc furnace. This offers a significant cost benefit for Sysco relative to the world market price for scrap or alternative virgin iron units and would contribute to a reduction in power and electrode consumption. Additionally, the titanium slag process generates significant quantities of fuel gas, which could be used directly by Sysco.

To: Baba 2 who wrote (17)	8/12/1999 10:21:00 AM
From: chevalier	Read Replies (1) \| Respond to of 343

this came from the Halifax Daily News newspaper today: Titanium study set The companies developing a Truro-area titanium find and the firm running Sydney Steel will co-operate on a study that could make it easier to sell the plant. NAR Resources and Titanium Corp. of Canada have reached agreement with Hoogovens Technical Services to introduce ilemenite - titanium ore - as a feedstock for Sysco. The study will examine the feasibility of building an ore-processing plant in Sydney that would produce titanium slag and liquid iron byproducts. The iron could be used as direct feedstock in Sysco's electric-arc furnace. It would be cheaper than using scrap steel or virgin iron, NAR said in a release. The process would also generate fuel for Sysco.

To: Baba 2 who wrote (17)	8/25/1999 9:09:00 AM
From: chevalier	Read Replies (1) \| Respond to of 343

This is an important piece of news that came out the news this morning in Nova Scotia. This could potentially be huge for NAR. Wednesday, August 25, 1999 The Halifax Herald Limited 'Good news' about Sysco Mill may have future - Hamm By Amy Smith / Provincial Reporter Premier John Hamm says Sydney Steel may have another shot at survival. After meeting with Sysco brass Tuesday, Mr. Hamm said there are some possible buyers. "We got good news today, but as I said, there's not somebody with pen in hand," Mr. Hamm said. He had just emerged from a four-hour discussion with ABN Amro, the Netherlands-based investment bank hired to sell the plant; Hoogovens, the Dutch steelmaker managing the plant; two Sysco board members; and Economic Development Minister Gordon Balser. "I would think the steelworkers would be encouraged by the fact that someone is interested in looking at Sysco and purchasing Sysco," Mr. Hamm said. "What I've heard today is something that causes me some optimism." But the premier was tight-lipped about who was eyeing the heavily subsidized government-owned plant. In March, Mr. Hamm said Cape Breton would be better off without Sydney Steel. "Now is the time to close the book on Sysco," he said at that time. Frank Corbett, NDP economic development critic, said the premier now seems to realize closing the plant would be difficult and costly. "I think they made statements about Sysco that were blatantly political," Mr. Corbett said. But the economic development minister said closing the plant is still a possibility. "In the best of all possible worlds, we'll find a buyer for that plant as an ongoing operation," Mr. Balser said. "If that does not come to pass, then we clearly had a mandate from the province of Nova Scotia, from the people, to do something about it, and that's our intention. The decision either is sell it or it will have to be closed." If the plant is shut down, Mr. Balser promised its workers would be treated fairly. Mr. Balser said Sysco has accessed $5 million of the $44-million line of credit from the Liberal government. He said the steel plant can only access up to $15 million without the approval of the finance minister. The minister said the Tories plan to keep Hoogovens as plant managers until the end of 1999. Hoogovens gets about $700,000 per month to run Sysco. Representatives from Hoogovens and ABN Amro were not keen to comment after the meeting. Rick Lawler, president of Hoogovens Technical Services, would only say Sysco is a good plant that can be sold. Fred Floburg, senior managing director of ABN Amro, said the meeting was a good exchange of information and that any other comment should come from the province.