The interesting thing in this report is the last two paragraphs...

The interesting thing in this report is the last two paragraphs about TI O2 (Titanium Dioxide) not sure what % is at Cobourn but there is some.
Price of copper also seems to be holding at US$3.30 per Lb, the PFS was based on US$2.70 and exchange rate of .86c.
I am hoping the big one IMO (hopefully the mother load of Iluka's Nickel beach sands) gets native approval soon.

http://www.smh.com.au/business/iluka-expects-to-turn-the-corner-with-final-halfyear-loss-20100826-13u7o.html

Iluka expects to turn the corner with 'final' half-year loss
Barry FitzGerald
August 27, 2010
ILUKA RESOURCES has posted what it expects will be the last of its losses as it begins to reap the benefits of its $630 million investment program, just as demand and pricing for its mineral sands products is rising.

The group's loss for the June half was $6.6 million. That was an improvement on the $43.6 million loss in the previous corresponding period and was slightly less than the market had been expecting. However, the market was more interested in the group's bullish outlook.

Iluka's managing director, David Robb, said: ''Recovery is well underway from the stresses of 2009, a period in which we kept our major investment projects on track.

''If anything, we now have favourable winds and those winds are stronger than we might have thought at the beginning of the year.''

The improved outlook for demand and supply that Iluka had talked about for some time was now playing out, he said. ''And our debt peak is behind us and stronger cash flows are evident in the first half, although the profit is not there. We feel there is growing performance momentum towards 2011, which we've said before is the first full year of the new Iluka.''

Iluka recently announced that it had achieved full ramp up at its new $390 million Eucla Basin mineral sands project, in South Australia, and the $240 million expanded Murray Basin operations, in Victoria.

While the outlook has improved, results in the second half will be checked by increased depreciation and amortisation charges and exploration expenditure.

Next year Iluka is expected to benefit from the move of titanium dioxide pricing to the shorter-dated, market-based pricing that it now has in place for zircon.

''We think if our view of supply and demand is right, then we want more frequent price adjustments,'' Mr Robb said.