Titan Mining Corporation is a mining company which produces zinc concentrate at the 100%-owned Empire State Mine (“ESM”), located near the town of Gouverneur in St. Lawrence County, New York State. ESM is a group of seven past-producing high-grade operations – ESM #1, #2, #3 and #4, Hyatt, Edwards and Pierrepont mines – which were acquired in December 2016. In 2017, Titan completed a preliminary economic assessment (“PEA”) on ESM #4 mine, which had been on care and maintenance since 2008, and restarted operations in early 2018. An updated PEA in 2018 is based on an eight-year mine life, mill throughput ramping up to 1,800 tons per day (“t/d”), and life-of-mine average annual production of approximately 80 million pounds (“M lb”) of payable zinc in concentrate at C1 costs of US$0.70/lb and all-in sustaining costs of US$0.79/lb. Titan has a three-pronged approach to organic cash flow growth which levers excess capacity – filling the shaft (3,000 t/d; target 150M lb zinc/year) and filling the mill (5,000 t/d; target 225M lb zinc/year) – and modernizes the operation to improve efficiencies and lower costs. The company controls more than 80,000 acres in this highly-prospective historic mining district, and is focused on discovering and developing additional high-grade, low-cost mineral resources, increasing production and extending the mine life at ESM.
Titan Mining trades on the Toronto Stock Exchange under the symbol TI.
Armor Minerals Inc. is engaged in the acquisition and exploration of mineral property interests. On October 28, 2015, the company signed a definitive earn-in agreement with Jack’s Fork Exploration, Inc. (“Jack’s Fork”) to acquire up to an 80% joint venture interest in the Warmister and Tower Hill gold properties located in Virginia, USA. Jack’s Fork is currently the holder of certain mineral leases covering the properties. On February 24, 2017, in accordance with the earn-in agreement, Armor gave 30 days’ advance notice of termination to Jack’s Fork. As of the date of termination, the company had incurred expenditures totaling US$455,040 and earned a 10% interest in the properties.
Armor Minerals trades on the TSX Venture Exchange under the symbol A.