Titan Mining (TI) Q2 2025 earnings summary

Executive summary

• ESM met Q2 production guidance; payable zinc production reached 15.51 million lb, up 7% YoY, while graphite facility commissioning remained on track for Q4 2025.

• Q2 execution included first production from the N2D zone and continued construction of an integrated U.S. natural flake graphite facility.

Financial highlights

• Revenue was $16.34 million; net income after tax was $0.54 million and basic EPS was $0.00.

• Cash flow from operating activities before changes in non-cash working capital was $2.36 million.

• Quarter-end cash was $8.1 million; net debt was $24.2 million, reported 21% lower than Q2 2024.

Outlook and guidance

• N2D production is expected to ramp from 250 to 500 tons per day in Q3 2025.

• Kilbourne graphite facility commissioning is on track for Q4 2025; over half of major equipment had been delivered and site installation was underway.

• 2025 surface drilling is expected to continue at previously identified targets, including Parish.