NEW YORK, April 19, 2004 (PRIMEZONE) -- (Investrend Research Syndicate) Titanium Corporation Inc. (TSX Venture Exchange:TIC) could "become a substantial generator of free cash flow" if its Pilot Plant is successful, said Investrend Research analyst David G. Tildesley in a Focus Report.
The complete report is at http://www.investrendresearch.com.
Titanium Corporation was created to refine specific heavy mineral enriched "tailings" from The Syncrude Canada Limited oil sands. Syncrude, the largest producer of oil from the Athabasca oil sands, "mines" oil from the oil sands of Alberta. The company currently produces 250,000 barrels of oil per day and now supplies approximately 13% of Canada's oil requirements. In the process of separating the oil from the sand, a specific heavy mineral enriched "tailings" stream (a by-product of the process) is created. At the present time, these tailings which have a valuable heavy mineral content of about 30% are simply disposed as waste. It has been estimated that the Syncrude tailings could supply 8-10% of the world's titanium requirements and 5-7% of the world's zircon requirements.
Titanium Corporation intends to become the first company to extract titanium-bearing minerals and zircon from Canada's oil sands. Over the past three years, Titanium's technical team at its own laboratory facilities located at Dalhousie University in Halifax, N.S. has integrated conventional oil sands recovery technologies with mineral separation technologies to produce a simplified patent-pending process of making marketable titanium and zircon concentrates from the Syncrude tailings stream. This process will soon be tested in the Pilot Plant.
This Pilot Plant, if successful, will be the basis for the design and construction of the first commercial plant with a 50 tonne per hour production capacity scheduled to be completed in 2006. Expansion of this commercial plant to a production capacity of 500 tonnes per hour should be completed by the end of 2008.
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