Titanium Resources Share Discussion Threads

[induna123] 23/2/2011 08:47

I think they did the right thing saffy. If the share price had shot off up to 16/17p and then they announced the placing it would have been unfair. At least people can see what they are getting into and make a more informed decision.

[seagreen] 23/2/2011 08:37

Looks like its become a £1 potential stock again and I did not even notice the rns yesterday ......derrrrrrrrrr brain

[safman] 23/2/2011 08:29

A sneaky RNS, although a step in the right direction @ a good level...

Most of that placing already taken up by major shareholders.....

saffy..

[induna123] 23/2/2011 08:14

Wasn't sure how the market would take the placing so I've banked my 25% profit.

Now back to WET!

[spectoacc] 23/2/2011 08:01

Impressive memory @dailos! Still punting, though not so much these days..

Hope you're well?

[dailos] 23/2/2011 07:57

Blimey Specto, you still around! Stll doing 40+ trades a day or settled down now? :-)
Still doing the karate, what style was it?
d.

[spectoacc] 23/2/2011 07:54

Seems so, and:
"The repayment will cut..overall debt..by approximately 36% and significantly reduce ongoing interest and principal repayments due. "

Placing fully subscribed, a name change ahead, and:
"Furthermore, the Company is currently in negotiations with the Government of Sierra Leone in regards to the sequencing of future repayments of principal due under the loan. Should these negotiations be successful, the Company would not be required to make any further repayments of the principal until 2013. A further announcement will be made in due course. "

(I think the ongoing payments might be more relevant than the net debt figure).

[divinausa1] 23/2/2011 07:44

so they have cut debt by a 1/3rd ?

only 26m Euro of debt is that correct?

[spectoacc] 23/2/2011 07:39

Great thing about it being in the tailings is that it's ready-mined; just a case of extracting the rutile. Large placing at 10p sorts the debt issue, but anyone know how much they'll need to go to full production?

[turkey3] 22/2/2011 17:14

US$8 billion WOW, I'll be in for some in the mornig...

[paul1967] 22/2/2011 16:47

These are under valued BIG time!!

[induna123] 22/2/2011 16:44

Rare Earths

As part of management's strategic review, and an added benefit of preparing the Mineral Resource, TRG identified the presence of significant rare earth mineralisation in the tailings of the mineral separation plant. These tailings, which have stockpiled over more than 30 years of operations, have the potential to add significant value to TRG. Studies are ongoing to quantify the type, extent and commercial potential of the mineralisation.

John Sisay, Chief Executive Officer of TRG, commented:

"As part of the ongoing strategic review, TRG is pleased to confirm a substantial 600 million tonnes Mineral Resource at Sierra Rutile, making it one of the largest natural rutile deposits in the world with an in-situ value, at current market prices, of almost US$8 billion.

[bookiebuster] 22/2/2011 16:40

In the 90s we had Bre-X physically salt their deposits with flakes of gold

Now we have the likes of TXR effectively salting their reserve update with a vague mention of rare earth minerals in their 30 year old tailings dump

Wouldn't surprise me if this pumpy news release was a prelude to a large placing

[induna123] 22/2/2011 16:38

thanks mate, picked up 10k :)

[safman] 22/2/2011 16:27

....

saffy..

[safman] 22/2/2011 16:26

Resource upgrade & Rare Earth mineralisation
Share this article
TIDMTXR

RNS Number : 6703B

Titanium Resources Group Ltd

22 February 2011

Titanium Resources Group Announces Initial JORC-Compliant Measured and Indicated Resources at its World-Class Sierra Rutile Mine

Rare Earths Mineralisation Identified in Sierra Rutile Tailings

22 February 2011: Titanium Resources Group Ltd ("TRG") is pleased to announce, as a result of its ongoing strategic review process, a JORC-compliant Mineral Resource for its subsidiary Sierra Rutile Ltd ("Sierra Rutile") and the identification of potentially value-enhancing rare earths mineralisation in the Sierra Rutile tailings. The Mineral Resource estimate of approximately 600 million tonnes confirms Sierra Rutile's standing as one of the largest natural rutile deposits in the world. Natural rutile is a premium form of titanium dioxide which trades at an approximate 20% premium to synthetic rutile and at a price 5-7 times that of ilmenite(1) .

A summary of the Mineral Resource estimate is presented in the table below:

January 2011 Sierra Rutile Mineral Resource* (0.8% rutile cut-off grade)


Tonnes Grade (%) Contained Tonnes (kt)
========= ====================================== ======================================
Heavy Heavy
Classification Millions Minerals Rutile Ilmenite Zircon Minerals Rutile Ilmenite Zircon
================ ========= ========= ======= ========= ======= ========= ======= ========= =======

Measured 4.4 2.30 1.13 0.42 0.18 102 50 19 8
Indicated 436.6 6.18 1.42 0.74 0.32 26,992 6,204 3,242 1,377
================ ========= ========= ======= ========= ======= ========= ======= ========= =======
Measured &
Indicated 441.0 6.14 1.42 0.74 0.31 27,095 6,254 3,260 1,385
================ ========= ========= ======= ========= ======= ========= ======= ========= =======
Inferred^ 163.9 - 0.96 - - - 1,575 - -
================ ========= ========= ======= ========= ======= ========= ======= ========= =======
Total Measured,
Indicated
and Inferred 604.9 27,095 7,829 3,260 1,385
================ ========= ========= ======= ========= ======= ========= ======= ========= =======

*Mineral Resources include those resources which have been modified to produce the Ore Reserves. The figures reported represent 100% of the Mineral Resources and Ore Reserves attributable to Sierra Rutile Limited. ^ Insufficient historical data was available to provide a JORC compliant Heavy Mineral, ilmenite and zircon grade estimate

The quoted Mineral Resource includes all resources intended for conversion to Ore Reserves. Given the size and quality of the Sierra Rutile asset, the company is presently reviewing several options to substantially increase production at the mine and intends to release an updated Ore Reserve statement and associated expansion plans on completion of these studies. These expansion plans will be designed to take advantage of this world-class asset and the significant positive market fundamentals for premium heavy minerals products such as natural rutile.

Rare Earths

As part of management's strategic review, and an added benefit of preparing the Mineral Resource, TRG identified the presence of significant rare earth mineralisation in the tailings of the mineral separation plant. These tailings, which have stockpiled over more than 30 years of operations, have the potential to add significant value to TRG. Studies are ongoing to quantify the type, extent and commercial potential of the mineralisation.

John Sisay, Chief Executive Officer of TRG, commented:

"As part of the ongoing strategic review, TRG is pleased to confirm a substantial 600 million tonnes Mineral Resource at Sierra Rutile, making it one of the largest natural rutile deposits in the world with an in-situ value, at current market prices, of almost US$8 billion. We will be working methodically over the coming months to evaluate a number of options available to expand production and derive maximum value from this substantial resource. Additionally, whilst early stage, the identification of rare earths in the tailings stockpiles that have been produced in the more than 30 years Sierra Rutile has been operating is potentially very positive for TRG's shareholders."

Additional Information

At a 0.8 per cent Rutile cut-off grade, the Mineral Resources are contained within 2 primary mining licence areas covering approximately 490km(2) , with a further 5 satellite deposits over an area of 69 km(2) . The orebody is up to 25 metres thick and comprises of sediments mineralised from surface to the underlying bedrock.

The mineral resource estimation was derived from an extensive geological drillhole database that has been verified by two separate and independent geological consultants Mine Development Associates and ACA Howe International. Geological sampling has been conducted using a combination of recognised heavy mineral drilling techniques, namely augering and aircore methods. Drill spacing varies between 30m x 30m for Measured Resources to grid spacing of above 300m x 300m for Inferred Resources.

Further details of the resource modelling is available from the company's website www.titaniumresources.com.

ENDS

The information in this report has been reviewed and approved for release by Mr Mark Button, NHDip, MMRM, Pr.Sci.Nat., SACNASP who has 25 years' experience in mineral commodities, of which 15 years is specific to mineral resource estimation, and who is the full-time Chief Operating Officer of SRL. Mr Button has sufficient experience in relation to the style of mineralisation and type of deposit under consideration to qualify as a Competent Person as defined in the 2004 Edition of the "Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves". Mr Button has consented to inclusion of this information in the form and context in which it appears.

An 'Ore Reserve' is the economically mineable part of a Measured and/or Indicated Mineral Resource. It includes diluting materials and allowances for losses, which may occur when the material is mined. Appropriate assessments and studies have been carried out, and include consideration of and modification by realistically assumed mining, metallurgical, economic, marketing, legal, environmental, social and governmental factors. These assessments demonstrate at the time of reporting that extraction could reasonably be justified.

A 'Mineral Resource' is a concentration or occurrence of material of intrinsic economic interest in or on the Earth's crust in such form, quality and quantity that there are reasonable prospects for eventual economic extraction. The location, quantity, grade, geological characteristics and continuity of a Mineral Resource are known, estimated or interpreted from specific geological evidence and knowledge. Mineral Resources are sub-divided, in order of increasing geological confidence, into Inferred, Indicated and Measured categories.

A 'Measured Mineral Resource' is that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a high level of confidence. It is based on detailed and reliable exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are spaced closely enough to confirm geological and grade continuity.

An 'Indicated Mineral Resource' is that part of a Mineral Resource for which tonnage, densities, shape, physical characteristics, grade and mineral content can be estimated with a reasonable level of confidence. It is based on exploration, sampling and testing information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes. The locations are too widely or inappropriately spaced to confirm geological and/or grade continuity but are spaced closely enough for continuity to be assumed.

An 'Inferred Mineral Resource' is that part of a Mineral Resource for which tonnage, grade and mineral content can be estimated with a low level of confidence. It is inferred from geological evidence and assumed but not verified geological and/or grade continuity. It is based on information gathered through appropriate techniques from locations such as outcrops, trenches, pits, workings and drill holes which may be limited or of uncertain quality and reliability.

For further information:

Titanium Resources Group Ltd.

John Sisay, Chief Executive Officer

Telephone: [phone]

Arbuthnot Securities

Nominated Advisor & Broker

Hugh Field / Richard Johnson

Telephone: [phone]

Aura Financial

Andy Mills / Harry Cameron

Telephone: [phone]

Titanium Resources Group

saffy..

[paul1967] 05/2/2011 14:22

stox2 why are you ramping BAO on every board. Your research is flawed BTW, maybe that is why it requires RAMPING

[bookiebuster] 04/2/2011 07:08

resolutions to be approved

ii) authorize the Company to issue an unlimited number of shares

[bookiebuster] 13/1/2011 22:17

Just looking at the stats for the last couple of years

H109: $19.8m revenue -$20.8m cost of sales = -$1.0m gross margin -$3.2m admin
H209: $17.0m revenue -$17.7m cost of sales = -$0.6m gross margin -$4.4m admin
H110: $18.6m revenue -$21.6m cost of sales = -$3.0m gross margin -$2.1m admin
(not including additional losses from interest repayments, impairments etc.)

Bear points
Inability to sell product for more than it costs to mine
Use of old equipment prone to breakdowns and failure
Accumulated losses of -$130 million since 2005
$50 million in debt (first principal repayment due in 12 months)

Can someone help with the bull points?

[paul1967] 13/1/2011 15:02

and the mine has about a 15 year life left.

[jonny flame] 13/1/2011 14:43

The Sierra Rutile mine is located in the south west of Sierra Leone near the Imperri Hills, some 30 km from the Atlantic Ocean, on low lying coastal plains about 135 km southeast of the capital Freetown. SRL holds mining leases over a land area of 580 sq. km in which nineteen separate rutile deposits have been identified.

The mining concession is one of the largest natural rutile deposits known in the world. In 2005, Mine Development Associates estimated that proved and probable reserves at SRL were 259 million tonnes at 1.48% recoverable rutile, giving a projected mine life of 19 years. In addition, the mine produces ilmenite and zircon concentrate.

The mine employs bucket ladder dredges and conventional mineral processing methods to produce rutile, ilmenite and small amounts of zircon tailings.

The mine is self-sufficient. SRL generates its own power, operates its own port, maintains the road infrastructure, has its own hospital and generally provides and maintains its own infrastructure and ancillary services.

[jonny flame] 13/1/2011 14:40

This one has been under the radar for a long time.

[dr_ex] 13/1/2011 12:26

thanks Paul, reads quite nicely!

i hope to stay long and strong! :)