White Mountain Titanium Corporation
White Mountain Titanium Corporation is an emerging specialty industrial minerals company. The Company owns 100% of a high grade rutile deposit located in the coastal mountain range in Region III of northern Chile. Rutile is the preferred feedstock for producing titanium dioxide which, in turn, is a key ingredient in the paint, plastics and paper industries worldwide owing to its high refractive index, opacity, and the purity of its white color. The global titanium dioxide pigment market approximates $8 billion a year.
During the last year, drilling has expanded the resource base by 30% and increased the grade by 13%, resulting in a 49% increase in the estimate of contained titanium dioxide. Consequently, our estimate of equity value of the project in 2008 has increased to a range of $100 million to $270 million, from the previous range of $80 million to $240 million.The Company has secured $5 million in equity funding from a European institutional investor and converted the final property payment of $0.5 million due to Phelps Dodge Corporation into equity. We believe that White Mountain Titanium has the potential to become a major supplier of premium quality titanium dioxide feedstock. The Company is seeking to list on a recognized Canadian stock exchange, at which point we anticipate it will become more visible to the investment community.
Company News Releases
You must have downloaded and installed Adobe Acrobat Reader.
For further information, contact:
Douglas J. Newby
Proteus Capital Corp.
120 Broadway, Suite 1010
New York, NY 10271
Tel: (646) 879-5970
Fax: (646) 365-3230
Last modified: January 3, 2007