Titan Minerals' Ecuador Drilling Supports 'Larger, Higher'-Confidence Resource, Says Euroz Hartleys, Shares Up 3%

MT Newswires Live11:14

Titan Minerals (ASX:TTM) is continuing to grow and de-risk its Dynasty project in Ecuador through successful drilling, supporting a "larger and higher"-confidence resource ahead of key value catalysts in the updated mineral resource estimate and scoping study, according to a Wednesday note by Euroz Hartleys.

Titan Minerals said on Wednesday that drilling at its Dynasty gold project in Ecuador revealed extensive zones of gold and silver mineralization from surface at the Kaliman porphyry prospect.

Euroz Hartleys said gold peers among its ASX-listed explorer-developer comparisons are trading at an average of AU$160 per ounce and a median of AU$110 per ounce, while Titan Minerals trades at a discount of about AU$40 per ounce.

Euroz Hartleys maintained its speculative buy rating on Titan Minerals with an AU$2.05 per share target price.

Titan Minerals shares rose 3% in recent Wednesday trade.

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