Titan Mining Reports Q3 2022 Results

About this update from Titan Mining Corp.

[{"type":"text","content":" VANCOUVER, British Columbia, Nov. 10, 2022 (GLOBE NEWSWIRE) -- Titan Mining Corporation (TSX: TI) (“Titan” or the \"Company\") today announces the results for the third quarter ended September 30, 2022. (All amounts are in U.S. dollars unless otherwise stated) “Titan continued to build momentum in the third quarter with key metrics achieved in safety and production. While costs were up slightly and grade below budget for the period, continued development into Q4 will ensure a record year for ESM. Also, during the quarter ESM received key permits that will allow operations to expand mining in the Sphaleros area which will begin to benefit the operations in Q2/23.” said Don Taylor, President and Chief Executive Officer of Titan. Q3 2022 HIGHLIGHTS: Zinc production totaling 11.6 million payable pounds and sales of 12.6 million pounds of zinc during the quarter Cash balance of $13.6 million on September 30, 2022 Net loss of $0.2 million or $nil per share Declared fifth consecutive special cash dividend of C$0.01 per share Received approval for surface activities at the Sphaleros site TABLE 1 Financial and Operating Highlights       Q3 2022 Q2 2022   Q1 2022 YTD 2022   Operating                   Payable Zinc Produced mlbs 11.6   16.5   10.1   38.2     Payable Zinc Sold mlbs 12.6   15.0   10.4   38.0     Average Realized Zinc Price $/lb 1.49   1.74   1.57   1.61                     Financial                   Revenue $m 14.03   20.13   13.96   48.12     Net Income $m (0.16 ) 5.92   (2.62 ) 3.15     Earnings (loss) per share - basic $/sh 0.00   0.04   (0.02 ) 0.02     Cash Flow from Operating Activities before changes in non-cash working capital $m (1.16 ) 9.42   2.10   10.36                     Financial Position   30-Sep-22 30-Jun-22 31-Mar-22 31-Dec-21     Cash and Cash Equivalents $m 13.57   11.02   3.24   6.04     Net Debt 1 $m 22.45   24.93   32.03   28.67   1 Net Debt is a non-GAAP measure. This term is not a standardiz...

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