ARGEX Titanium Inc's Profile
Argex Mining Inc., Montréal, Québec; TSX: RGX, has recently transitioned from a mining exploration company to a near-term producer of commodities that the world needs:
Titanium Dioxide (TiO2), Iron and Vanadium Pentoxide.
Titanium dioxide (TiO2) is an inorganic substance that is derived primarily from heavy mineral sands containing Rutile or Ilmenite ores.
TiO2 has one of the highest refractive indices (2.61 for Rutile crystals), making it the primary pigment for producing white colour in paints, plastics and paper.
La Blache Property - North shore of the St. Lawrence River. The La Blache Fe-Ti-V property is located in the Manicouagan region in the Province of Quebec, approximately 120 km northwest of the city of Baie-Comeau on the north shore of the St. Lawrence River. The property is centered on the coordinates 50°03′N and 69°38′W and composed of one block of 73 contiguous claims covering an area of 40.3 km2. The property covers three massive titaniferous magnetite lenses named Hervieux West, Hervieux East and Lac Schmoo which contains significant iron, titanium and vanadium mineralisation.
The massive magnetite lenses are hosted in intrusive lithologies of the La Blache Anorthosite Complex.
New NI 43-101 Compliant Mineral Resource Estimate
In June 2011, Argex completed a National Instrument 43-101-compliant Mineral Resource Estimate (“MRE”) on its La Blache Property.
This MRE includes 30,888,000 tonnes in the measured and indicated categories, with in situ grades of 18.78% TiO2 (titanium dioxide), 63.29% Fe2O3 (iron oxide) and 0.45% V2O5 (vanadium pentoxide).
This MRE also includes 13,013,000 tonnes in the inferred category, with in situ grades of 18.67% TiO2, 63.06% Fe2O3 and 0.43% V2O5. Argex has only drilled 2 of the 3 known lenses on its La Blache deposit.
In 2010, a 20,934-metre drilling campaign was conducted at West Hervieux and East Hervieux; there was no drilling at Schmoo Lake. As per Met-Chem Canada, who authored this Technical Report, both deposits are open at depth.
Preliminary Economic Assessment
The La Blache PEA study includes the following highlights:
- IRR (Pre-Tax): 32%;
- NPV: $2.2 billion (using an 8% discount rate);
- Payback period of 7 years - assuming a staged, modular plant construction;
- Total operating cost (net of by-products) of $586 per tonne of TiO2 (averaged over the life of the mine);
- Price per tonne of TiO2 (trailing 3 year average): $2,846 ($US/tonne);
- Capital costs: $801 million;
- Timeline: 25 years;
- Life of mine: 25+ years of mineral resources (in all categories);
- Production profile: 195,000 tonnes of TiO2 at capacity
With a primary goal of advancing rapidly towards production, Argex has adopted a simple and low risk strategy for the scale-up of its proprietary process that allows it to produce high purity TiO2 directly from its 100% owned deposit.
The process is running continuously at the company’s mini-plant in Mississauga, Ontario. The closed-loop process is environmentally friendly and produces minimal inert tailings.
Argex has an experienced and diversified management team and board of directors. The Company’s principals have experience in geology, metallurgy, plant operations, finance and law. All of these elements will be necessary in order to lead the Company on the path towards production. The Argex team has experience on the North Shore of Quebec, where the La Blache deposit is located, as well as internationally.
Argex’s La Blache project is coming to fruition at a very opportune time. Most of the value at the La Blache deposit is in the TiO2. Based on Argex’s research, the TiO2 market is presently characterized by increasing demand, but not increasing supply. This has been confirmed to us by end users of TiO2 whom we have met.
Consequently, prices have increased in the past couple of years and are projected to double by 2015.
This coincides with the Company’s timeline for initial production of TiO2 from La Blache.
Management & Directors
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Management
& DirectorsRobert Guilbault,
Chairman of the Board of Directors
President and CEO of Aluminerie Alouette Inc. from 2006 to 2010
Has worked in the mining production field for twenty years
Received a B.A. from St-Hyacinthe Seminary and B.Eng in electrical engineering from the Université de MontréalRoy Bonnell,
President, CEO & DirectorCo-Founder of Argex
President & CEO from June, 2011
Vice-President, Corporate Development and Corporate Secretary of the Corporation from December, 2009 to June, 2011
Managing Director of Atwater Financial Group Inc. from June, 2004 until December, 2010
M.Sc. Accounting & Finance (London School of Economics), MBA (McGill), L.L.B. Western Ontario, B.A. (Queen’s University)Mark Billings,
CFO, DirectorCo-Founder of Argex
President and CEO of Orex Exploration Inc. (TSX-V: OX), a gold exploration company with properties in Nova Scotia
BA (Honours) from Carleton University and an MBA from the Harvard Business School; Chartered Financial AnalystPeter H. Smith,
DirectorPresident and CEO of Fancamp Exploration Ltd. (TSX-V: FNC),
B.Sc. in geology from McGill University and an MS and Ph.D. from Northwestern UniversityAnthony Garson,
DirectorInvolved in brokerage industry as a Mines and Metals Analyst, Scotiabank, 1975 – 80.
V-P Dean Witter Reynolds (Canada) Ltd.,
V.P. ,Canaccord Capital.
Founding partner of Union Capital Markets (UK) Ltd.Mazen Haddad,
DirectorPresident of Township Capital Inc. from 2005 until 2010
Past Chairman of SGI Properties Canada Fund L.P., a private real estate investment trust (REIT) focused on residential real estate in Montreal
Past Vice-President of SGI Capital Corp., a private investment company
Received a B.A. degree in economics from Emory University of Atlanta, GeorgiaEnrico Di Cesare,
COO, VP TechnologyMetallurgical Engineer from McGill University – with diverse background covering metallurgy, equipment, operations and organizational improvement.
Director of Organizational Development for Severstal Russian Steel’s engineering firm of 300 who execute all of the capital projects be it revamp or new equipment. Facility produces 10 million tons of steel annually
VP Sales Danieli Wean United; one of the 3 biggest equipment suppliers to the steel industry.
Manager of finishing department at Sammi Atlas Steels: stainless steel producer. Involvement in day-to-day operations, maintenance, team building, continuous improvement, implementation of ISO, autonomous work teams, continuous training, process improvement.
Manager of Business Development: Hoogovens/Corus/Hatch: involved with viability studies, financial turnarounds, know-how transfer, self-paced learning, Training Legacy for start-ups, operational and maintenance improvements.André Laferrière,
Senior GeologistRegistered professional geologist (OGQ) and NI 43-101 Qualified Person for the corporation.
Over 15 years of experience in mineral exploration and mining development projects for precious metals (gold, silver, PGE), base metals (nickel, copper, zinc, lead, iron), and technology metals (lithium, rare earths).
Expertise includes projects evaluation, mineral resource estimation, NI 43-101 technical reporting, and exploration projects design, implementation and management.
Broker Fact Sheet
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RGX Broker Fact Sheet
Thu Mar 29, 2019Fact sheet details
Company Links
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Tue Jun 24 2014, 10:21PM
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Wed Nov 16 2011, 11:55PMA Shining Future Ahead Aug 17, 2011
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Wed Nov 16 2011, 11:52PMNovember 2011
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Mon Feb 21 2011, 09:07PMNewest Corporate Presentation.
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Mon Feb 21 2011, 09:05PMPresentation on the CTL PROCESS FOR TITANIUM DIOXIDE PRODUCTION FROM ILMENITE ORE