RE: Old news Thanks,
Interesting read. $500 for the coating technology, seems a lot. I believe they have been very conservative in their analysis and even so came through and gave it a buy-rating.
What frustrates me is that all forecasts for TiO2 is seeing the price at least of $4,000 a couple of years down the road but all analysts are going by the old 2011 figures of $3,500 / t.
If the price of TiO2 is $5,500 in 2015 and Argex can produce it for $1,600, a 50k tpy plant will have a gross profit of $195,000,000.
Since they also can expand quite quickly, the PE should be in the high 20s or around $4B market cap.