Ann: Thunderbird Pre-feasibility Study Results, page-17

No one could give you an accurate prediction, but the majority would be thinking an increase on volume for 2016 over 2015 (but not large).

As for SFX and China.
They would need a very big offtake partner, but no one would sign up to sell that sort of volume. They would also need to sell the TiO2 to break even, but with the grade treading around 49% and a massive oversupply into the market, that would be unlikely.

Personally, I think Bruce and his boys should build a smalller $30-$40m zircon/L84 wet plant and sell the concentrate into China (via an offtake partner) and let them deal with the dry milling and sales side of it. At least that way, shareholders could actually fund a fair chunk of it.

But they will probably do what so many have done before and wait for the white knight, raise money at low prices...raise more money at low prices....

....and the so the story continues.

Pep