A few stocks of ASX listed companies, are indicating promise in their further activity campaigns. One of the growing companies to invest in is
Titan Minerals Limited (ASX: TTM)
Titan Minerals Limited has reported significant progress across its key projects in Ecuador, with notable advancements at both the Dynasty Gold Project and the Linderos Copper Project during the quarter ending 31 December 2024. With gold investing finding favour currently, TTM is considered among the best gold stocks.
At the Dynasty Gold Project, Titan commenced a 10,000-meter resource growth drilling campaign in November 2024, targeting lateral and depth resource extensions across multiple prospects, including Cerro Verde, Iguana, and Iguana East. Initial drilling results at Iguana East have confirmed the presence of breccia-hosted gold-silver mineralization, similar to that found at Cerro Verde, where the project currently hosts a 3.1-million-ounce gold and 22-million-ounce silver resource. Extensional drilling at Cerro Verde is testing deeper mineralized zones and has revealed promising intersections. Additional trenching and soil sampling outside the defined resource areas have also identified new high-grade targets, further supporting the potential for resource expansion.
The Linderos Copper Project saw major developments during the quarter following Titan’s joint venture and earn-in agreement with Hanrine, a subsidiary of Hancock Prospecting. Under this agreement, Hanrine can earn up to an 80% interest in the project by achieving key exploration milestones or by sole funding up to US$120 million. During the quarter, Titan received a US$1.75 million payment, marking the successful completion of the First Earn-in Milestone, giving Hanrine a 5% ownership stake. The Second Earn-in Milestone, which involves 10,000 meters of diamond drilling, commenced in early November and is expected to be completed by Q2 2025. Based on positive results, the Third Earn-in Milestone, which includes an additional 15,000 meters of drilling, could begin in Q3 2025.
Financially, Titan is in a strong position following a A$20 million placement in December, which was backed by Tribeca and other sophisticated investors. The company also raised an additional A$3.8 million from option conversions, with a further A$0.8 million raised post-quarter-end. As of 31 December 2024, Titan reported a cash balance of A$18.8 million (US$11.7 million), providing sufficient capital to fund its ongoing drilling programs and project development activities.
Titan expects a steady flow of exploration results from both Dynasty and Linderos, with a mid-year mineral resource update planned for Dynasty. This update will be a key component of the Dynasty Scoping Study, scheduled for the second half of the year. The company has plans to advance trenching and mapping at new gold and copper targets and to complete the 10,000-meter drilling milestone at Linderos. With a strong financial position, major shareholder backing, and a high gold price environment, Titan Minerals is poised for a transformative year, with the potential for significant resource growth and increased shareholder value.
Source: Company’s Report
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