trending Market Intelligence /marketintelligence/en/news-insights/trending/dpASJMMSai-abgYkn0AK9w2 content esgSubNav
In This List

Titan Minerals raising A$20M to advance Dynasty Goldfield project

Blog

Gold - Geopolitical tensions and inflation remain key drivers

Blog

Lithium and Cobalt - Softer demand weighs on prices

Blog

Insight Weekly: Ukraine war impact on mining; US bank growth slowdown; cloud computing headwinds

Blog

Insight Weekly: Cryptocurrency's growth; green bond market outlook; coal investors' windfall


Titan Minerals raising A$20M to advance Dynasty Goldfield project

Titan Minerals Ltd. received firm commitments to raise A$20 million by issuing 1,333,333,333 common shares at 1.5 Australian cents per share.

The company said June 4 that it will use the funds for exploration and development of its Dynasty Goldfield project in Ecuador, including exploration at Copper Duke and Linderos, and for general working capital purposes.

Titan plans to support its takeover target, Core Gold Inc., in an early start to the proposed exploration programs in southern Ecuador, supporting an aerial magnetic survey expected to start in the coming weeks.

The company is tendering bids for the first 15,000 meters of drilling planned for 2019 and finalizing a sampling plan for the historical diamond core material stored at the Dynasty project.

"With a solid exploration plan now in place for the Ecuadorian properties these funds will go a long way to unlocking significant value in these assets, we look forward to advancing both Titan and Core's projects following the completion of the merger at the end of this month," Titan Executive Chairman Matthew Carr said.

The completion of the placement, expected June 20, is conditional on Core Gold and Titan shareholders approving the merger.