Titan Minerals (TTM) Q2 2026 earnings summary

Executive summary

• Drilling recommenced at the Dynasty Gold Project with three diamond rigs targeting resource extensions at Cerro Verde and Brecha-Comanche, aiming to expand the 3.9Moz gold and 26.1Moz silver Mineral Resource Estimate (MRE).

• Surface mapping and trenching at Cerro Verde confirmed new mineralisation, extending the resource 400m west and 150m east.

• Dynasty Scoping Study advanced with pit optimisation and engineering studies, targeting delivery in Q4 2026.

• Linderos Copper Project JV partner Hanrine nears completion of a 15,000m drilling milestone, which will increase their stake to 51% and trigger a US$1M payment.

• Cash balance at quarter end was US$5.9 million (A$8.5 million), with 288,016,545 shares on issue.

Financial highlights

• Cash inflows included US$218,000 from option exercises and US$882,000 reimbursement from Hanrine for Linderos expenses.

• Net cash used in operating activities for the quarter was US$527,000; investing activities used US$415,000.

• Estimated quarters of funding available is 3.25 based on current cash and outgoings.

Outlook and guidance

• Dynasty Scoping Study on track for Q4 2026 delivery, providing a framework for future feasibility and resource conversion drilling.

• First assay results from current Dynasty drilling expected in the coming weeks.

• MRE upgrade targeted for Q1 2027 at Dynasty.