White Mountain Reports On Progress At The Cerro Blanco Project And Comments On Continuing Strength In Titanium Pigment And Feedstock Markets
SANTIAGO, Chile, May 19, 2011 /PRNewswire/ -- White Mountain Titanium Corporation ("White Mountain" or the "Company") (OTC Bulletin Board: WMTM) reports that work is accelerating at the Company's Cerro Blanco project in Chile as management, operational staff and consultants achieve milestones and advance the project towards final engineering feasibility.
As reported in a news release of April 6, 2011, assay data from a completed in-fill drill program at the Las Carolinas prospect consisting of 54 diamond drill holes totalling 7,047 meters has now been received. Geological staff and outside technical consultants are updating a new resource model and undertaking Whittle pit design work for mine planning purposes. In addition, the Company's environmental consultant, Arcadis Geotechnica, has been contracted to begin the final phase of winter baseline field monitoring at the Las Carolinas prospect. Data from this and past monitoring studies will form the basis of an environmental impact study for the Cerro Blanco project.
Over the course of the next few weeks, management will begin to evaluate technical proposals from qualified engineering firms for final engineering and process design work. Depending on results from test work currently underway, the final process design may include a sodium feldspar recovery circuit. Management recently visited SGS in Lakefield, Ontario where test work to produce a commercial grade sodium feldspar concentrate for glass and ceramics application is nearing completion. The sodium feldspar concentrate would be produced as a by-product from rutile flotation tailings. If this test work and follow on marketing are successful, the sale of sodium feldspar could have a significant positive impact on overall project economics. Results from this test work are expected within the next few weeks.
With respect to markets, both titanium pigment and feedstock markets remain very robust. DuPont, already the world's largest producer of titanium dioxide pigments, has announced double-digit price increases and an expansion plan that will add approximately 771 million pounds of global capacity. Expansion amongst pigment producers comes at a time when the supply of the various forms of titanium feedstock used to make pigment is in deficit.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV