Ann: High-Grade Muckanippie Titanium Heavy Mineral Test Work, page-23

Hello. What matters is titanium purity/content. You need to understand if the titanium ore is "ilmenite" (which was what MEU might have) the iron cannot be removed from the titanium at the mine site.

Below is the company SFX. The first diagram shows how mixed their various products are. The second diagram shows the low prices they are currently receiving for these mixed products.

I does not matter how high grade (say 11%) the titanium is. If the iron content is the same or higher (than the 11% titanium), its commercial value will be lower.

Note: Ilmenite below is the same as magnetic concentrate. SFX are only currently receiving $130/t for their ilmenite, which is higher than their operating costs.