Titan Mining Q4 revenue rises 16% on record zinc output at Empire State Mines

Overview

• U.S. zinc and graphite producer's Q4 revenue rose 16% yr/yr on record zinc output at Empire State Mines

• Company shipped initial graphite concentrate and launched feasibility study for Kilbourne project

• Titan ended 2025 with $17.5 mln cash, reducing net debt to $8.7 mln

Outlook

• Company launched Feasibility Study for 40,000 tonne/yr Kilbourne Graphite Project in early 2026

• Titan expects to reactivate the N2D mining zone in 2026

• Initial graphite concentrate shipments from Kilbourne delivered in Q1 2026

Result Drivers

• RECORD ZINC PRODUCTION - Q4 zinc output reached 18.7 mln payable lbs, a record for Empire State Mines, driven by higher mill feed grades and extraction from high-grade zones

• GRAPHITE PROJECT ADVANCEMENT - Commissioning of Kilbourne demonstration facility began in Q4, with initial graphite concentrate shipments delivered after year-end

• COST CONTROL - Q4 C1 cash costs and AISC were at the lower end of guidance, reflecting operational efficiency

Company press release: ID:nGNX4MjdRc

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 1 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

• The average consensus recommendation for the specialty mining & metals peer group is "buy"

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