Argex bullish on Canada TiO2 project after feasibility study

09 October 2013 17:14  [Source: ICIS news]

TORONTO (ICIS)--Argex Titanium is confident of securing financing for its proposed 50,000 tonne/year titanium dioxide (TiO2) project in Quebec province following a positive feasibility study, the Canada-based firm said on Wednesday.

Argex said that the study by Canadian engineering firm Genivar showed that the project would have an after-tax internal rate of return of 33.8%.

"We believe that our ability to secure project financing, which is non-dilutive to our public equity, has been greatly enhanced because of the highly positive economics contained in this study,” CEO Roy Bonnell said.

Also helping drive forward the project were Argex’s long-term supply agreement with US paints, coatings and chemicals firm PPG Industries, as well as “our expectation that [Qubec government agency] Ressources Quebec will be an important partner as we move forward”, Bonnell added.


By: Stefan Baumgarten
+1 713 525 2653



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