- Exploration and development company Titan Minerals (TTM) enters a trading halt regarding an upcoming capital raising
- While the company is yet to disclose how much it intends to raise, it says it will use the money to fund exploration on its assets in Ecuador
- On September 9, Titan received its first batch of results from its Cerro Verde Prospect in Ecuador
- Results have been received for 18 holes which saw a best intersection of 1.54 metres at 13.5g/t gold from 131.15 metres
- Shares in Titan last traded at 10 cents on October 4 and the company expects to come out of the halt by October 7
Exploration and development company Titan Minerals (TTM) has entered a trading halt regarding an upcoming capital raising.
The company will remain in the halt until October 7 or when more details are released, whichever occurs first.
While Titan is yet to disclose how much it intends to raise, the company has announced it will use the money to fund and accelerate exploration activities on its assets in Ecuador.
On September 9, Titan received its first batch of results from its Cerro Verde prospect in Ecuador.
A total of 54 holes have been drilled with the company aiming to update its geological modelling by providing more oriented core data.
Results have been received for 18 holes which saw a best intersection of 1.54 metres at 13.5 grams of gold per tonne (g/t) from 131.15 metres.
Results from the remaining 16 holes are pending and are expected to be reported on shortly.
Shares in Titan last traded at 10 cents on October 4. The company has a $116 million market cap.