Core Viewpoint - Muzhu Mining Ltd. has entered into an option agreement to acquire up to a 75% interest in the Everett titanium property, which is strategically located near significant titanium production sites in Quebec, Canada [1][4][7] Company Summary - Muzhu Mining Ltd. will be renamed Grenville Mines Inc. to better reflect its focus on the Everett Property [23] - The company is currently involved in a private placement offering to raise up to $750,000 for initial payments and exploration activities related to the Everett Project [14][15] Everett Property Highlights - The Everett Property consists of 49 mineral tenures covering 2,406 hectares (5,946 acres) and has a history of significant mineral resource estimates [2][5] - Historical estimates indicate a resource of 234 million tonnes with grades of 10.8% TiO2, 17.9% Fe, and 2.8% P2O5, although these are not compliant with current NI 43-101 standards [5][6] Economic Significance - The Everett Property is recognized as one of the most significant hard-rock ilmenite deposits globally, located just 3 km from the Lac Tio titanium mine [4][7] - The property is situated in a tier-1 location with access to infrastructure, low energy costs, and government support, making it strategically important for the onshoring of critical minerals [7] Future Development Plans - Confirmatory diamond drilling is planned to verify and expand the historical resource, followed by a NI 43-101 mineral resource estimate [8] - The company aims to complete a positive feasibility study by September 30, 2030, to earn an additional 25% interest in the Everett Property [11] Financial Structure - Under the option agreement, Muzhu will make a series of cash payments and expenditures totaling $10 million to earn its interest in the Everett Property [9][12] - Romaine River Titanium Inc. is entitled to a 3.5% gross return royalty, with options for Muzhu to buy back portions of this royalty [13] Market Context - The titanium sponge price is at a 15-year high, having increased by 22% since 2020, which presents a favorable pricing environment for titanium products [7] - Geopolitical risks related to titanium supply from China and Russia, which control 75% of the world's titanium sponge capacity, further emphasize the importance of domestic production [7]