PERTH (miningweekly.com) – Gold and copper hopeful Titan Minerals will raise A$18-million in a share placement to fund drilling work in Ecuador.
The ASX-listed company will issue 180-million new shares, at a price of 10c each, in a single tranche under its existing placement capacity.
“The recent raise has attracted a number of new institutional sophisticated natural resource funds that are as excited by the potential at Dynasty and Titan’s portfolio as we are,” said CEO Laurie Marsland.
“The additions of Peter Cook as chairperson and Michael Skead as executive VP for exploration have attracted a lot of interest from new investors as we now look to unlock the value of our portfolio in Southern Ecuador. We look forward to delivering a Joint Ore Reserves Committee resource at Dynasty in the fourth quarter of 2021 before unlocking its true size and scale and continuing our systematic exploration campaigns at Linderos and Copper Duke.”
Settlement of the new shares under the placement is expected on October 13.