Argex Titanium Inc. ARGEF

RE: $2

[morricone]

The $2 analyst valuation is simply one person's opinion based on selling the ore for furnace lining. Petrohhortep is right on in that neither the company nor the shareholders are interested in that scenario and as such that valuation is uninspiring and irrelevant. (Not to belittle the report itself which was quite good and should be considered mandatory reading for everyone.)

At the present time I think it's reasonable to say the current shareholders - individual or corporate - are simply not willing to add to their holdings because of the risk factor. Off the top of my head the last significant news release was last February. There have been no test results released since then (and why not?), nothing solid, nothing really positive. There was that awful conference call, the NI 43-101 was a big disappointment, and the CEO got seriously demoted, all things that would make a Samurai warrior who was an Argex shareholder more likely to fall on his sword than to buy more shares. We can hardly expect strangers to buy more shares when we ourselves aren't willing to.  And it is obvious that we are not prepared to further buy any ourselves until this company takes some of the risk off the table.