Highly prospective exploration company

Resource projects cover more than 1,713 km2 in three provinces at various stages, including the following: hematite magnetite iron formations, titaniferous magnetite & hematite, nickel/copper/PGM, chromite, Volcanogenic Massive and gold.

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Message: teleprobe
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http://www.newswire.ca/en/story/1142777/argex-selects-valleyfield-as-the-site-for-its-first-tio2-production-plant

Valuation – A $3.10 Target Price,
With “Blue Sky” To $11.00
Undervalued:
Based on an assumed long-term
TiO2 pigment price of $3,500/tonne, we calculate
an NPV of ~$3.00/share in the scenario where
Argex processes a mineral sand based ilmenite
feedstock at one 50,000 tonne/year module. As
Argex builds out 3 additional modules of this
size, we calculate a total potential “blue sky
NAV” of close to $11.00/share.
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