TTM raises $20M for gold and copper drilling

Published 05-DEC-2024 11:45 A.M.

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Our gold & copper Investment Titan Minerals (ASX: TTM) just closed a $20M capital raise at 44c per share.

This is the biggest raise TTM has done since we first Invested in the company in 2020.

For the last four years, TTM has had to manage its cash balance pretty carefully like many other junior exploration companies.

TTM has had to prioritise the highest priority targets and focus more on target generation work then going all out by drilling its projects.

In TTM’s finding the perfect balance between drill programs and managing a cash balance wouldn't have been easy - especially considering the size/scale of TTM’s projects…

TTM has four key projects:

1. The Dynasty gold project - where TTM has a 3.1m ounce gold, 22m ounce silver JORC resource and is currently drilling to try and expand that resource base.

2. The Linderos copper porphyry - which is now being farmed out to a subsidiary controlled by Gina Rinehart in a deal worth up to US$120M.

AND

3. Two more 100% owned copper exploration projects - where TTM is looking to repeat it’s success from Linderos. Find just enough to attract a deep pocketed partner like Hanrine (Gina’s subsidiary).

Our view is that with some drilling, Dynasty and Linderos have enough potential to be single company makers on their own.

The other two exploration assets, until now have not seen much drilling but we are hoping TTM can do what it did with Linderos and attract interest from much deeper pocketed majors.

After today’s raise TTM has $20M to drill out three of its four projects while the Linderos asset is drilled out by Hanrine.

Finally, after over 4 years of holding we think TTM could finally start to produce a whole bunch of strong drilling newsflow across its portfolio of assets.

TTM’s Ceo Melanie also commented on all of the upcoming newsflow which was good to see.

AND we noticed TTM’s major shareholder Tribecca backed the company in this raise - institutional support is also always a good thing to see in this end of the market.