Titan Mining Corporation (TSX:TI) completed a successful initial public offering in October, 2017 and will be re-starting the fully permitted and past-producing Empire State Mines zinc asset in New York State in January 2018. A 2017 Preliminary Economic Assessment showed a strong after-tax NPV8% of US$150 million with a quick ramp-up to commercial production and positive cash flow in Q2 2018. The mine is expected to have average annual life of mine payable production of ~80 million pounds of zinc at all-in sustaining costs of $0.78/lb.
Titan has a rapid three phase expansion plan to lever excess shaft and mill capacity and drive cash flow growth:
- Phase 1 ‒ extend the mine life (1,800 tons per day)
- Phase 2 ‒ fill the shaft (to 3,000 tons per day)
- Phase 3 ‒ fill the mill (to 5,000 tons per day)
The Company has strong exploration potential from extensions of mineralized zones, historic reserves, remnants, in-mine targets, regional exploration, and from digitizing historic data.