MONTREAL, Québec (FSCwire) - Argex Titanium Inc. (TSX: RGX) (the “Corporation” or “Argex”) is pleased to announce significant progress at the laboratory in Valleyfield less than 60 days after operations resumed (see press release dated August 10, 2016).
Carroll Moore, Chief Operating Officer of Argex, stated that: “We have achieved a substantial reduction in solid and liquid material in the overall process, which will have a positive impact on our CAPEX going forward. We are pleased to see a significant reduction in water in the system through heat integration and changes to the conditions of the leaching process. These improvements should allow equipment size to be reduced, particularly at the leaching and evaporation stages. We also expect to lower the energy consumption of the future commercial plant.”
Next steps
Mr. Moore added that: “In the next few months, we will perform further optimization tests for the hydrolysis stage and produce enough sample material to operate the heat treatment and finishing stages of the process. The technical team is refining the parameters of the titanium dioxide (TiO2) product at the hydrolysis and heat treatment stages with the objective of obtaining a morphology superior to that of competing products, and proceeding to the finishing treatment. At that point, Argex will have validated all the stages of the technology, including the finishing stages, which were previously handled by external partners.”
About Argex Titanium
Argex Titanium Inc. 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. The Corporation’s unique proprietary process uses relatively inexpensive and plentiful source material from a variety of potential vendors to produce TiO2, along with other valuable by-products. Argex’s process provides a significant cost and environmental advantage over current legacy TiO2 production methods.
Forward-Looking Statements
This news release contains statements that may constitute “forward-looking information” or “forward-looking statements” within the meaning of applicable Canadian securities legislation. Forward-looking information and statements may include, among others, statements regarding future plans, costs, objectives or performance of Argex, or the assumptions underlying any of the foregoing. In this news release, words such as “may”, “would”, “could”, “will”, “likely”, “believe”, “expect”, “anticipate”, “intend”, “plan”, “estimate” “target” and similar words and the negative form thereof are used to identify forward-looking statements. Forward-looking statements should not be read as guarantees of future performance or results, and will not necessarily be accurate indications of whether, or the times at or by which, such future performance will be achieved. No assurance can be given that any events anticipated by the forward-looking information will transpire or occur, or if any of them do so, what benefits Argex will derive. Forward-looking statements and information are based on information available at the time and/or management's good-faith belief with respect to future events and are subject to known or unknown risks, uncertainties, assumptions and other unpredictable factors, many of which are beyond Argex's control. These risks, uncertainties and assumptions include, but are not limited to, those described under “Risk Factors” in Argex’s Annual Information Form for the fiscal year ended December 31, 2015, which is available on SEDAR at www.sedar.com; they could cause actual events or results to differ materially from those projected in any forward-looking statements. Argex does not intend, nor does Argex undertake any obligation, to update or revise any forward-looking information or statements contained in this news release to reflect subsequent information, events or circumstances or otherwise, except if required by applicable laws.
Contact:
Nicole Blanchard
Corporate Communications and Investor Relations
Argex Titanium
nblanchard@argex.ca
To view this press release as a PDF file, click onto the following link:
public://news_release_pdf/Argex10032016.pdfSource: Argex Titanium Inc. (TSX:RGX)
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