Titan Mining (TI) Q4 2024 earnings summary

Executive summary

• FY 2024 payable zinc production reached 59.5 million lb, the upper end of guidance, despite the Q3 Storm Debby disruption; full-year AISC beat the low end of guidance by 10%.

• ESM recorded a 0.7 injury frequency rate, more than 70% below the national average, marking its safest year since reopening.

Financial highlights

• FY revenue was $64.3 million; Q4 revenue was $26.3 million, up 241% YoY and 318% QoQ.

• FY net income after tax was $6.5 million and basic EPS was $0.05; Q4 net income was $11.4 million and basic EPS was $0.09.

• FY operating cash flow before non-cash working capital changes was $16.5 million, up 170% YoY; Q4 was $10.9 million.

Outlook and guidance

• Management expects forecast treatment charges below $150/t to enhance miner profitability in 2025 while operations expand, costs decline and growth projects advance.

• The proposed Kilbourne demonstration facility is expected to produce 1,000–1,200 tonnes of graphite concentrate annually, with modular expansion targeting 40,000 tonnes per year.

• Graphite financing alternatives are being advanced; facility plans and growth objectives depend on financing and execution.