The Douglas deposit (although good) was nowhere near as good as ILU thought/expected or was told ,that is why the directors jumped at the chance.
The agreement for the sale of Basin Minerals was hatched at the titanium conference some weeks earlier where it was noted that the MD of Basin was holding a number if private meetings with ILU executives.
The deposit itself has a certain number of contaminents and require additional treatment or processing and this is one of the reasons the Ilmenite is being stockpiled by Iluka.
Sabretooth , most of the products you referred to require the Ilmenite to be further treated the produce SR (synthetic Rutile) which is what Ticor and ILU are already doing.
Cristal used to have a steady supply from the Ti West project until they had a falling out with Kerr McGee. As a result they had to get thier own deposit....BMX....however this alone will not help the achieve their goal of being a world leader/producer as mentioned on their web page.
Cristal like ILU are keen to convert the $120/t rutile into $600/t synthetic rutile. It is only a matter of time before Cristal secure the technology to achieve their goals.
Keep an eye out for a ILU Cristal deal followed by another Cristal deal with APG. APG have proven that they can produce a 98%+ tio2 from the Murray BAsin deposits.
I hold heaps of BMX and APG
Cheers
BMX
bemax resources limited
