MONTREAL, Québec (FSCwire) - Argex Titanium Inc. (TSX: RGX) (the “Company” or “Argex”) is pleased to provide an update on its activities at the laboratory in Valleyfield, Quebec.
“We are finalizing most of the internal performance tests on our commercial samples of TiO2 product, which we believe meets and/or exceeds PPG Standards and we will have it certified” said Carroll Moore, Chief Operating Officer of Argex Titanium. “We have also now started the data package for a Basic Engineering Design which we expect to complete in about two months. This will be fed on to a Pro-2 simulation which will produce a heat and material balance and confirm that Argex’s operating costs will be the lowest in the industry,” he added.
“There have been a number of price increases for Ti02 leading to an estimated US$3,400 per tonne, a 36% increase over the last 12 months. This significantly improves the economics of our proposed demonstration plant and ultimately of our first commercial plant,” said Mazen Alnaimi, Executive Chairman and CEO of Argex Titanium.
Corporate Change
The Company has appointed Ross Corcoran as Chief Financial Officer. Mr. Corcoran replaces Shaun Parmar as Chief Financial Officer of Argex, following Mr. Parmar’s recent resignation. Argex wishes to thank Shaun Parmar for his contribution to the Company.
Ross Corcoran was most recently Vice-President, Finance and Administration and Chief Financial Officer of Bantam Restaurant Group LLP, a position he held from 2014. Prior thereto, Mr. Corcoran was from 2009 to December 2012 Vice-President, Finance and Chief Financial Officer of Global Railway Industries Ltd., a company listed on the Toronto Stock Exchange. Mr. Corcoran has also held positions with Datamark Systems Inc. (consultant), My Virtual Model Inc. (Vice-President, Finance and Chief Financial Officer) and Hydro Québec International Inc. (Director, Project Finance and Senior Manager/International Investments). Mr. Corcoran holds an MBA degree and a Bachelor of Commerce degree (Accounting and Finance), both from McGill University in Montreal. He is on the board of the Quebec chapter of FEI Canada, an all-industry professional association for senior financial executives.
About Argex Titanium
Argex Titanium Inc. has developed an advanced chemical process for the volume production of 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.
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/ArgexEN01092017.pdfSource: Argex Titanium Inc. (TSX:RGX)
To follow Argex Titanium Inc. on your favorite social media platform or financial websites, please click on the icons below.
Maximum News Dissemination by FSCwire. http://www.fscwire.com
Copyright © 2017 Filing Services Canada Inc.