Titan Mining (TI) Q3 2025 earnings summary

Executive summary

• Q3 delivered sharply higher zinc production and revenue, while construction and commissioning advanced at the Kilbourne graphite demonstration facility.

• Strategic progress included a $15.8M US EXIM credit facility, a letter of interest for up to $120M toward commercial graphite construction, and NYSE American pre-clearance.

Financial highlights

• Q3 revenue was $16.78M, up 102% YoY; net income after tax was $0.08M and basic EPS was $0.00.

• Operating cash flow after non-cash working-capital changes was $5.02M in Q3 and $7.05M YTD; before those changes, Q3 cash flow was $2.15M.

• Q3 payable zinc production was 14.64M lb, up over 76% YoY; payable sales were 13.81M lb and realized price was $1.29/lb.

Outlook and guidance

• Graphite demonstration-plant commissioning began; first concentrate is expected in Q4 2025, with facility completion targeted for Q4 2025 and customer qualification in Q1 2026.

• A second underground haul truck is expected in late November; N2D production is expected to resume in Q1 2026 as haulage capacity improves.

• Mining in high-grade Lower Mahler and New Fold zones is expected to continue through Q4 2025; further exploration drilling is planned at Parish and Kilbourne.