it’s around 23-25% at present The hMC comprises of 27.5% zircon and about 62-63% Titanium with the rest being waste. so even though Titanium commands about 20% of the Zircon price , ( 280 vs 1400 pre zircon price increase in April ) it also is produced at approx 2.5 X the rate Zircon is. The resource not captured in the BFS initial Boonanaring mine plan was high in titanium and lower in Zircon. At the time the price assumptions was 200 TI to 1600 zircon. The current price 1 April will be 280 vs 1470 and the expectation is TI will be 300 by mid year - ofcourse what we would all like to see which coincidentally is what o believe will transpire is both Zircon and TI will move much higher. I am pretty confident they will be able to pull out another 3 months production at least at Boonanaring is the Trend continues.
IMA Price at posting:
16.5¢ Sentiment: Buy Disclosure: Held
