This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

ARGEX Provides Corporate Update

MONTREAL, March 26, 2013 /CNW Telbec/ - Argex Titanium Inc. (TSXV: RGX) ("Argex" or the "Company") is pleased to provide a corporate update on the Company's activities over the latter part of 2012 and the first quarter of 2013. 

Roy Bonnell, President & CEO comments, "The Argex team has made significant progress over the past six months and the industry has taken notice. Our efforts in 2012 were supported by enthusiastic shareholders and the financial community. Our approach has been to move rapidly to production while mitigating all risks. To this end, the last six months have been dominated by hard work in the following areas: the feasibility study, the optimization of our product, the advancement of end-user agreements and the promotion of the Argex name amongst industry participants.  Some of the highlights of this period and beyond, include:

  • On October 11, 2012, Argex announced the launch of its feasibility study with GENIVAR Inc., one of Canada's largest engineering firms, to establish the economic viability of a titanium dioxide (TiO 2) first-module production facility and to provide a capital plan and capital estimate. Citing the potential game-changing nature of the novel CTL process, both GENIVAR and Argex have agreed to mutual terms of exclusivity for engineering services related to the development and construction of TiO 2 processing plants projects using this patented process . At the time of the announcement, Mr. Bonnell stated that the hiring of GENIVAR to complete the feasibility study for the future Argex TiO 2 industrial facility is an important step towards launching commercial production of our TiO 2 product. Upon completion of the study, Argex will be in a position to evaluate major partnership opportunities, and engage in detailed construction engineering work and start hiring suppliers. "To date, the work is on time and on budget," added Enrico Di Cesare, COO and Vice-President of Technology at Argex, "A feasibility study is an intensive effort for any company and those involved. We look forward to sharing the results with everyone in the next few months," he said.
  • Argex and PPG Industries signed a collaboration agreement for the development and optimization of pigment grade Titanium Dioxide (TiO 2) for paints and coatings combining PPG's paint technology with Argex TiO 2 proprietary processing technology in April, 2012. The Agreement provides for, among other things, the negotiation of a purchase and supply agreement between PPG and Argex based on the successful development of treatment technologies. Noted Mr. Bonnell, "We are pleased that the collaboration between the two companies is much broader than just a simple off-take agreement. We are not intending to just make a simple feedstock. We are intending to make pigment which commands a higher price. Depending on the pigment's use, different specs are required and different coatings applied. To have an industry leader on our side working with us collaboratively through-out the last six months constitutes a huge plus for Argex. Although the negotiation of a purchase and supply agreement between PPG and Argex has taken longer than anticipated, we look forward to finalizing the agreement to the mutual satisfaction of both parties as soon as possible."
  • On October 18, 2012 Argex announced the appointment of a new head of sales and marketing, Philippe Guillemaille. Mr. Guillemaille's focus has been two-fold: promoting Argex to the existing TiO 2 industry and the development of end-user relationships. "Despite being a new name, Argex has been able to capture the industry's attention," said Mr. Guillemaille. "Its ongoing collaboration with PPG is no doubt part of that, but from the perspective of the industry players, becoming part of the American Coatings Association is tremendously important as it represents some of the biggest names in the coatings industry right across the supply chain." In terms of his other responsibilities - sales to end-users, Mr. Guillemaille added the following, "Currently, we are in talks with many large end-users interested in using our product, including paint companies, plastic companies, cosmetic companies, PVC manufacturers and chemical distribution companies - it is very exciting. I am often asked by people how long does it take to sign a purchase and supply agreement. In our case, some of these deals proposed to us are for a very large volume- up to 50,000 tonnes per annum. Some of these deals proposed to us are for a very long period - in excess of ten years. In other words, the monetary figures involved here are potentially very large and are of significant material amounts, not just for Argex but also for the companies proposing them. Normally contracts of this size can be expected to take up to 12-14 months from start to finish to negotiate, depending on the complexity of the relationship."
  • On February 14, 2013, Argex announced that it had been recognized by the TSX Venture Exchange as one of the 2013 TSX Venture 50 Companies, a ranking of strong performing companies on the TSX Venture Exchange. Argex achieved the second best rating of all companies included in the mining category. "This underscored a strong year of performance by our stock," commented Mr. Bonnell, "by focusing on operations and moving rapidly to production while mitigating all risks, we have built ourselves a strong following in the investment community. I am pleased to note that on January 9, 2013, we added Cormark Securities to the list of investment banks covering the Argex story, which underscores the support we have been receiving."
  • On May 1, 2013, COO Enrico DiCesare and Head of Sales & Marketing, Philippe Guillemaille will present at the 2013 TiO 2 World Summit in Barcelona, Spain. In particular, the Argex team will introduce its process and compare its TiO 2 production process to current technologies to an audience composed of the largest and most influential industry players. Argex is also scheduling a number of meetings and will use this opportunity to hold discussions with potential partners and increase its visibility among players active throughout the TiO 2 supply chain.

"It is not an overstatement that the opportunities that are being presented to us are exciting and significant," remarked Mr. Bonnell. "The considerable amount of work undertaken positions us to begin a more public discussion of pending events as they unfold in the near term."

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

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.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

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.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 16,912.11 -70.48 -0.42%
S&P 500 1,969.95 -8.96 -0.45%
NASDAQ 4,442.6980 -2.2110 -0.05%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs