Sure, I'll share, with the disclaimer that I have quite a large position.
The project revolves around concessions in the northern Chile area, (void from earthquakes so far). That area is a mining area. Initially, Phelps Dodge owned the concessions as a potential copper play. After a time they were interested in the titanium dioxide assets. After a time, Phelps Dodge decided to stick with copper dioxide exclusively, and move away from TIO2. During their time they hired the number one mines and minerals attorney in Chile to handle the eventual claims matters. When he became aware they were going to sell it he put together most of the current team which had in depth knowledge of the TIO2 production possibilities.
They then formed White Mountain Titanium Corp. The site is located inland from a deep water sea port, and has readily available rail access to it. There are no major environmental issues. During this preparatory time, they also acquired, literally at courthouse auction, the Carolina Prospect which vastly increases rutile, the stuff you get TIO2 from, vastly multiplying their asset base.
Bringing a mine on line is a vastly detailed undertaking and WMTM is at the last stage now, finishing up its bankable feasibility study. When that stud is complete, it will show the project to be very likely to be financially successful. A test mine built by SGS in Canada using WMTM's raw material and mine production model has already passed. with flying colors.
While waiting for the completion of Bankable feasibility, the company and various end users have already signed four outtake contracts. The last one listed a price of $1200/metric ton. I can a tell you that the original plan was to be able to sell at about $400/mt. TIO2 prices have escalated significantly since project development.
Once Bankable is complete, they will acquire the financing for mine buildout, a critical juncture and one I follow as closely as legally possible. At this point there is absolutely no problem with financing the buildout on very favorable terms as there are three separate sources that are interested, and at very favorable debt to equity rates.
A few other notes. I know CEO Mike Kurtanjek quite well, and I talk to him regularly. I have subscribed to two of his private placements on the process to finance burnout rates. He is an extremely frugal guy, totally share holder driven. He has a great team on his board. He also has very strong Chilean political support and the locals can't wait to get started, As you may know, Chile is an extremely stable, mine friendly capitalist s country with a superb infrastructure.
The project makes fantastic sense as a TIO2 stand alone mine, but they have figured out a way to make tons of money of the tailings by producing feldspar, used in the glass and ceramic industries. That would provide, essentially, free money.
But....There's more. The company has been working with Cambridge Doctor Fray on a method of completely redefining the method of using TIO2 feedstock to eventually produce titanium sponge and titanium powder. There is massive demand for titanium sponge and powder in the avaition and medical fields, and end prices are a 12x (+/-), price advantage over the already highly profitable TIO2, used by Dupont and other major players in paints pigments and papers.
Anyway, that the Cliff notes. I've been on this for five years and I chat with the players regularly. The stock has had a magical year, but once Bankable is done, and construction starts, it will get even greater visibility. Production is probably a late 2012date, but that's when it gets real interesting.
Great management team. Always under promises and over delivers.