- Titan Mining Corp. (TSX:TI) reported a record increase in zinc production in its Q4 and full-year 2023 results
- The company produced 13.9 million pounds of payable zinc in Q4 2023 at its Empire State Mine and a record 61 million payable pounds of zinc throughout the year, a 16 per cent increase over the year before
- The company also reported earnings of US$10.91 million in Q4 2023 compared with US$15.50 in Q3 2023 and saw US$52.09 in fiscal year 2023
- Titan Mining Corp. last traded at $0.28 per share
Titan Mining Corp. (TSX:TI) reported a record increase in zinc production in its Q4 and full-year 2023 results.
The company produced 13.9 million pounds of payable zinc in Q4 2023 at its Empire State Mine and a record 61 million payable pounds of zinc throughout the year, a 16 per cent increase over the year before.
Mining efforts in 2023 focused on the Mahler, New Fold, and Mud Pond zones at the ESM. Deepening of the lower Mahler ramp system provided access to high-grade ore in the Lower Mahler mining zone that supported strong grades and record metal production.
Titan Mining intends to continue in the same zones in 2024. It is expected that ore from the Lower Mahler zone will continue to support budgeted zinc grades for this fiscal year.
The company called the year a standout thanks to the discovery of the Kilbourne graphite trend, an extensively drill-tested graphite-bearing trend on permitted lands.
Drilling began in December 2023 with eight holes totaling 632 metres completed to date with an additional 3,048 metres scheduled for 2024. An initial bulk sample was identified and collected in January 2024.
The company also reported earnings of US$10.91 million in Q4 2023 compared with US$15.50 in Q3 2023 and saw US$52.09 in fiscal year 2023.
“Titan finished 2023 with a strong fourth quarter in both safety and production which allowed ESM to produce a record 61 million payable zinc pounds in 2023,” Don Taylor, president and chief executive officer of Titan, said in a news release. “As we enter 2024, our plans are to continue the upward trajectory on production while improving our safety performance.”
Titan Mining Corp. produces zinc concentrate at its Empire State Mine in New York state. It is engaged in the acquisition, exploration, development and production of mineral properties.
Titan Mining Corp. last traded at $0.28 per share and its stock is up 7.69 per cent in the past month, but it is down 53.33 per cent since this time last year.
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