I had a chat with Richard last week and he informed me that although they are targetting 75,000 tn per year of TiO2, they are going to design a 15,000 tn per yr plant to start with. This will enable them to keep adding modules as their customers and ability to raise money grows. This eliminates the need to raise large amounts of money up front and drastically improves the chances of successfully developing a mine.
I asked Richard if I was allowed to post the above information and his response was that he was comfortable with this information going out.
SPM Price at posting:
19.5¢ Sentiment: Hold Disclosure: Held