agm results etc, page-16

Another point that I found interesting(hope I'm remembering correctly...)

The price of the 60ktpa plant proposed was about $85M last time they checked. MT thought it may be up to about $100M now.

HOWEVER!!! The price of scrap steel that the DRI would be substituting has risen by about 25% ($240/t to $300/t) Also, the price of synrutile has risen about 30% ($600/t)

Also.... the 97% TiO2 is supposed to be the highest purity available, and it has been indicated that ALL the product of this quality from a 60ktpa plant would be purchased by a SINGLE Ti metal manufacturer at a PREMIUM to market!!!!

Another snippet of side conversation.... Normally the iron from a blast furnace is around 4% carbon (not much good). This is lowered by other processes such as a BOS, where the carbon is oxidized out down to a level appropriate for steel (say, 0.08%). Guess what the %C in the APG DRI material happens to already be????

A milestone for 2008 is when 70t of DRI product get taken across the river to the EAF and they make a chunk of steel out of it!!