Just reading from the press release from March 13th it sounds more like they have produced a synthetic rutile, which might be used by producers of TiO2 or producers of titanium metal.
"The Metallurgical Tests achieved their primary objectives by producing a high-grade synthetic rutile (titanium dioxide) concentrate, which has the potential to be used for both titanium pigment and metal producers, and also confirming that the previous process test results achieved at the bench scale were well reproduced at the pilot plant scale."
I read this to mean that Fancamp is working on developing an economic method to produce synthetic rutile (which they might then sell to TiO2 producers or Ti metal producers). The CTL process which RGX owns produces the TiO2 from the mineral ore. Argex is planning on using waste ilmenite as the source for their plant (vs. rutile ore); don't know what the feasibility of using this synthetic rutile is though.
Anyone interpreting this differently?