Titan Minerals (TTM) H1 2025 earnings summary

Executive summary

• Focused on exploration and development of gold and copper assets in southern Ecuador, with flagship Dynasty Gold Project and significant progress at Linderos and Copper Duke projects.

• Secured A$20m placement in the prior year, enabling aggressive drilling and exploration, with three rigs active at Dynasty and JV partner Hanrine advancing Linderos.

• Dynasty drilling delivered exceptional results, expanding resources and converting waste to ore, supporting upcoming Mineral Resource Estimate (MRE) update.

• Corporate activities included conversion of options raising A$5.7m, repayment of A$2.1m debt, and a strong cash position at period end.

Financial highlights

• Net loss for the half-year ended 30 June 2025 was US$2.18 million, compared to a loss of US$1.49 million for the same period in 2024.

• Cash and cash equivalents at 30 June 2025 were US$9.08 million, down from US$11.66 million at 31 December 2024.

• Working capital surplus of US$7.6 million at period end.

• Total assets increased to US$62.1 million from US$60.9 million at year-end 2024.

• Repayment of outstanding loan facility, leaving the company debt-free.

Outlook and guidance

• Continued resource growth and exploration at Dynasty, with a 6,000m infill drilling program and updated MRE planned for the second half of 2025.

• Maiden drilling campaign at Copper Duke scheduled for early Q4 2025.

• Linderos JV partner Hanrine commenced a further 15,000m drilling program to increase its stake to 51%.

• Directors confident in sufficient cash to fund activities and meet commitments over the next 12 months.