Titan Minerals Limited (ASX: TTM) Secures $20 Million Placement
Placement Highlights
Titan Minerals Limited (ASX: TTM) has successfully secured commitments for a $20 million placement aimed at bolstering its operations in Ecuador. This move comes as strong backing from existing shareholder Tribeca and various new investors illustrates confidence in the company’s growth potential.
CEO Comments
Titan’s CEO, Melanie Leighton, expressed enthusiasm about the placement, stating, “The quantum and quality of the Placement is a fantastic outcome, giving Titan real capacity to get on with our strategy to expand our exciting Dynasty Gold-Silver Project.” Leighton noted the company’s established resource base of 3.1 million ounces of gold and 22 million ounces of silver and highlighted the ongoing aggressive drill program designed to expand this resource dramatically.
Future Projects and Plans
The funds raised through this placement will also support exploration projects such as the Linderos Copper Project, in partnership with Hanrine, a subsidiary of Hancock Prospecting. Additionally, Titan’s Copper Duke Project is set for drill tests of significant porphyry copper targets in 2025. The settlement of new shares from the placement is anticipated on 10 December 2024, with the shares to rank equally with existing shares.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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