Promising sampling at Linderos copper/ gold project

Published 09-JUN-2022 12:00 P.M.

1 min read

INVESTMENT MEMO: TTM 2022

GENERAL: Exploration results

Our exploration investment Titan Minerals (ASX:TTM) announced early exploration results from its Linderos project in Southern Ecuador earlier today.

Channel sampling at the Copper Ridge porphyry copper prospect returned promising copper and coincident molybdenum results, including:

46m @ 0.24% copper, 9.71ppm molybdenum in channel CRC040
32m @ 0.21% copper, 3.91ppm molybdenum in channel CRC051

At the nearby Meseta Gold prospect, promising gold results from channel sampling included:

4.5m @ 12.69g/t gold and 3.48g/t silver in channel MGC22-025
2.9m @ 9.81g/t gold and 2.69g/t silver in channel MGC22-024

These results have led to numerous drilling targets ahead of the initial drilling to test the potential of these high priority targets in 2H22.

Today’s news fits in with our #2 Objective we’d like to see management deliver this year:

We take confidence that a turn around is not too far away with TTM, noting that several directors have being increasing their holdings recently:

Managing Director Matt Carr purchased $102.5k in shares on market
Newly appointed director Tamara Brown purchased $20k in shares on market
Non-Exec chairman Peter Cook purchased $152k in shares on market.

We consider directors purchasing shares in times where a company’s share price is depressed off the back of a news vacuum is generally a positive sign, as the people closest to the company see value in topping up their shareholdings.

To see all of the key objectives we want to see TTM achieve in 2022, the reasons why we continue to hold TTM in our portfolio and the key risks to our Investment thesis, check out our 2022 TTM Investment Memo here.