Business
Titanium Corporation reports 2008 fourth quarter results
Conference call scheduled for 10:00am EST on Wednesday November 26, 2008 TORONTO, Nov. 21 /CNW/ -...
About this update from Cvw Sustainable Royalties Inc.
[{"type":"text","content":"\n\n\n\nConference call scheduled for 10:00am EST on Wednesday November 26, 2008\n\n\nTORONTO, Nov. 21 /CNW/ - Titanium Corporation Inc. (the "Company")\n(TSX-V: TIC) today released its financial results for the three and twelve\nmonths ended August 31, 2008.\n\n\nHIGHLIGHTS:\n\n- Progress was made on research and development initiatives to remove\n residual bitumen from heavy minerals and recover bitumen from the\n waste tailings stream. Laboratory test results were encouraging and\n independent research firms have been retained to conduct continuous\n bench testing; and\n- The Company remains in a strong financial position with\n $20.589 million in cash and short-term investments (including\n $3.524 million in restricted cash).\n\n\nScott Nelson, the Company's President and Chief Executive Officer stated\n"We are encouraged by the progress that was made last year in our research and\ndevelopment programs. The business plan for fiscal 2009 is focused on\nresolving the technical issues of recovering bitumen and zircon from waste\ntailings streams. Fiscal 2009 will be an extremely active year with multiple\nR&D programs underway, the most critical of which are focused on bitumen\nremoval and recovery. The success of bench scale continuous testing will\ndetermine the technical factors and timing for an integrated pilot testing\nproject."\n\n\nResearch & Development Update - The Company's research and development\n("R&D") programs during fiscal 2008 focused on the concentration and\nseparation of heavy minerals and the removal and recovery of bitumen.\n\n\nMinerals Concentration and Separation - Development programs were\nconducted at the Company's Regina facility during fiscal 2008 to increase the\nrecovery of higher grade zircon products. Prospective new technologies, tested\nin conjunction with external firms, have shown improved results and testing is\ncontinuing.\n\n\nBitumen Removal and Recovery - The Company focused on the challenges of\nremoving residual bitumen from the heavy minerals and recovering bitumen from\nthe tailings stream. The technical and economic success of the Company's oil\nsands project is dependent on this research. Laboratory results were\nencouraging and independent research firms have been commissioned to progress\nthe work from laboratory scale testing through...