Ann: Presentation - Arlington Pre-daba, page-18

Thanks for your answer ! very interesting, looking forward to capex estimates for the new port and to transport costs per tonne estimates in the feasibility study. it is unfortunate the toliara resource is less valuable per tonne of ore than kwale (less rutile/zircon, more lower value ilmenite), but i guess you can still make money with ilmenite if costs are right (favourable simple metallurgy/flow sheet, low stripping ratio, high grade continuous mineralization) coupled with huge economies of scale. time will tell.