Titan Minerals (TTM) Q3 2025 earnings summary

Executive summary

• Significant progress in resource drilling at the Dynasty Gold Project, with multiple wide, high-grade gold-silver intercepts at Cerro Verde, supporting a potential resource upgrade in Q1 2026.

• JV partner Hanrine advanced drilling at Linderos Copper Project, achieving Milestone 2 and commencing Milestone 3, with mineralisation confirmed over a 1km strike length and depth.

• Strategic investment of US$10 million from Lingbao Gold International, strengthening the balance sheet and enabling accelerated project development.

Financial highlights

• Cash and cash equivalents at quarter end were US$5.5 million, with an additional US$10 million received post-quarter from Lingbao.

• Net cash used in operating activities for the quarter was US$0.85 million; net cash used in investing activities was US$2.77 million.

• Estimated quarters of funding available at quarter end was 1.52, with additional funding secured post-quarter.

Outlook and guidance

• Dynasty MRE update scheduled for Q1 2026, with ongoing drilling targeting resource growth and conversion to support mine studies.

• Linderos drilling to continue, with Hanrine aiming to earn up to 51% interest upon completion of Milestone 3.

• Funds from Lingbao investment to be used for rapid advancement of Dynasty and potential project-level transaction.