Titan Minerals Ltd (ASX:TTM, OTC:TTTNF) has delivered a standout December 2025 quarter, marked by the definition of extensive new mineralisation at its flagship Dynasty Gold Project in Ecuador and the entry of Chinese gold major Lingbao Gold International Co. Ltd as a strategic shareholder via a US$10 million placement.
The quarter positions Titan for a substantial Mineral Resource Estimate (MRE) update in early Q1 2026, as drilling continues to expand both the scale and confidence of the 3.1-million-ounce (Moz) gold and 22Moz silver Dynasty resource.
Strategic investment strengthens balance sheet
A key corporate milestone for the quarter was the completion of the US$10 million placement to Lingbao Gold International, which subscribed for shares at A$0.59 — a 33% premium to Titan’s 30-day volume-weighted average price — to acquire a 9.9% stake.
Titan said securing Lingbao as a strategic shareholder provides access to capital and technical expertise aligned with Dynasty’s potential mining and processing pathway. Lingbao is a Hong Kong-listed gold producer with operations spanning mining, processing, smelting and refining across five major mines.
Lingbao also advanced due diligence during the quarter, including a second site visit to Dynasty, while discussions around a potential corporate transaction remain ongoing.
Titan CEO Melanie Leighton said Lingbao’s entry represented a strong endorsement of the project.
“This quarter has been transformational, with our drilling unveiling extensive new zones of mineralisation at Dynasty, and Lingbao joining Titan as a new major shareholder,” Leighton said.
“We have seen impressive share price appreciation during the quarter, with the share price almost doubling,” she added. “This value uplift coincides with a backdrop of all-time-high (and rising) gold, silver and copper prices, and follows a significant period of value creation through targeted exploration and resource growth at our Dynasty Gold Project.”
Dynasty drilling delivers scale and upside
At Dynasty, three diamond rigs operated throughout the quarter, targeting infill and extensional drilling at the Cerro Verde prospect as Titan works towards its upcoming resource update.
Cerro Verde plan view showing interpreted geology, the Brecha-Comanche and Kaliman targets, gold isosurfaces, drill traces and current areas of focus for the resource drilling program (thick black traces are planned holes).
Key highlights included the definition of extensive zones of porphyry-hosted gold-silver ± copper mineralisation, which the company expects to improve strip ratios and enhance overall project economics once incorporated into the updated MRE.
Notable porphyry drill intercepts included:
- 216.6m @ 0.5 g/t Au, 1.9 g/t Ag from 4m, including 7.1m @ 5.2 g/t Au (CVDD25-157)
- 153m @ 0.5 g/t Au, 1.9 g/t Ag from 107m, including 14.6m @ 2.7 g/t Au (CVDD25-144)
- 143m @ 0.6 g/t Au, 1.0 g/t Ag, 0.15% Cu from 147m (CVDD25-156)
Cerro Verde (Kaliman Target) schematic cross section looking northwest (100m window) showing significant drill intercepts, drill traces Au g/t, gold gram metre isosurfaces and conceptual pit optimisation (US$3,000/oz).
Resource drilling also extended mineralisation around 40 metres along strike at Cerro Verde, returning multiple wide, high-grade vein and breccia intersections, while infill drilling confirmed continuity and supported resource classification upgrades.
Titan said drilling has now confirmed mineralisation to depths of around 600 metres below surface, highlighting strong potential for further growth at depth.
Since the July 2023 MRE, Titan has completed about 26,000 metres of additional drilling, taking cumulative drilling at Dynasty to around 89,000 metres.
Cerro Verde (Kaliman Target) schematic cross section looking northwest (120m viewing window) showing latest significant drill intercepts, drill traces (Au g/t) and Cu histogram in red on LHS of drill trace, interpreted porphyry hosted gold mineralisation (NB. Porphyry units are shaded, but entire area not mineralised) and conceptual pit optimisation (US$3,000/oz).
Linderos copper JV advances
At the Linderos Copper Project, Titan’s JV and earn-in partner Hanrine — a subsidiary of Hancock Prospecting — continued diamond drilling, defining porphyry mineralisation over a 1-kilometre strike and to 1 kilometre in depth.
The project remains open laterally and at depth, with step-out drilling under way. Hanrine is advancing Earn-in Milestone 3, committing a further 15,000 metres of drilling to lift its interest to 51%.
Outlook
Titan is on track to deliver its updated Dynasty MRE in the first quarter, supported by completed drilling, ongoing resource modelling, preliminary metallurgical test work showing strong recoveries, and early mine studies.
Leighton said the market was beginning to recognise the scale of the opportunity.
“Since acquiring Dynasty ~5 years ago, we have completed almost 56,000m of diamond drilling (in addition to the previous 33,000m) and have established a substantial resource of 3.1Moz gold and 22Moz silver, which is set to grow with a resource update on track for late Q1 2026,” she said.
At quarter end, Titan reported working capital of US$12.0 million (A$17.4 million), providing flexibility to accelerate development at Dynasty as drilling continues.