In January Mr. Dehn spoke about Argex Mining, its assets, the future, and the titanium dioxide market. It was apparent Mr. Dehn is very committed and excited about Argex’ properties and has been ever since recognizing the value of the rock versus the costs to get it out of the ground. As he put it, “We are sitting on a 40 billion dollar resource asset that is more valuable than Goldcorp’s Red Lake Mine.”
Mr. Dehn stated that the majority of the value, roughly two thirds, is in the titanium, with the remaining third split 
between the iron and the vanadium. “Considering this is one of the higher grade iron deposits in Québec that says a lot about the value of the titanium.” Argex management expects to be in full production by 2015 with 600,000 tonnes production of titanium dioxide and that eventuality would certainly support a share price in the $20 range terms in the near future, Mr. Dehn said, “
With the estimated metal value divided by the current 75 million shares outstanding, the share price works out 
to 640 dollars per share for the resource. In the event it costs $600 per share to process and extract, that still leaves the share price at $40.
With a 40 billion dollar deposit in the ground, Argex Mining is well positioned to move into production with 
an impressive and tremendous upside potential. Mr. Dehn describes the management team by saying, “This 
is not an illustrious brand name group; nobody is going to be enamoured enough to buy the stock based on the 
team, what counts here is the resource we have and that should be the focus.
Mr. Dehn summarized and articulated his vision for Argex in the not too distant future, “Every pension 
fund in Canada will own this company. Once we are in production it will be almost like having a license to 
print money with the dividends this asset is going to produce.” Considering the size and potential of the 
asset, and as the only TiO2 play in North America.

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