10:46:01 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Argex Titanium Inc
Symbol RGX
Shares Issued 281,224,204
Close 2017-08-02 C$ 0.055
Market Cap C$ 15,467,331
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Argex Titanium in talks for offtake agreement renewals

2017-08-03 13:31 ET - News Release

Mr. Mazen Alnaimi reports

ARGEX TITANIUM POISED TO SECURE SIGNIFICANT OFFTAKES FOR COMMERCIAL PLANT

Argex Titanium Inc. is in discussions with major offtakers of pigment-grade titanium dioxide (TiO2) for the expansion and renewal of previous agreements. The discussions are expected to lead to commitments for larger volumes and the expansion of geographic coverage from a regional to a global level.

Agreements were signed with two offtakers a few years ago and are now due for renewal. The significant improvements made to the product (morphology, size, colour and opacity) by the new management and technical teams at Argex have persuaded industry leaders to consider increasing their volume commitments with Argex. These agreement renewals could see Argex secure the distribution of all its planned production capacity for the short and long term.

"Our objective is to become a global player as an emerging low-cost producer of TiO2, and our offtakers appreciate that vision," said Mazen Alnaimi, chairman and chief executive officer of Argex. "We believe that the TiO2 industry is poised for growth globally, and that Argex will be well positioned to benefit from that."

About Argex Titanium Inc

Argex Titanium has developed an advanced chemical process for the volume production of high-grade titanium dioxide (TiO2) for use in high-quality paint, plastics, cosmetics and other TiO2 applications.

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