
September 17, 2024
Hanrine to spend up to US$120M to earn 80% in Linderos Copper Project
Titan Minerals Limited (ASX: TTM) (Titan or the Company) refers to its ASX announcement dated 18 April 2024 and is pleased to announce that Titan and its wholly owned subsidiary, Linderos Mining S.A.S (Linderos), have executed a binding joint venture and earn-in agreement (JVA) with Hanrine Ecuadorian Exploration and Mining S.A. (Hanrine), an indirectly wholly owned subsidiary of Hancock Prospecting Pty Ltd (Hancock), for Hanrine to acquire up to an 8o% ownership interest in the Linderos Copper Project (Project) in Ecuador (Transaction).
Highlights
- Titan and Hanrine, a wholly owned subsidiary of Hancock, have executed a formal binding joint venture and earn-in agreement in respect to the Linderos Copper Project in Ecuador
- Hanrine will earn an initial 5% interest in the Linderos Copper Project by paying US$2.01 million and can earn up to an 80% interest in the Linderos Copper Project by either achieving specific exploration milestones and proceeding to a decision to mine or by sole funding up to US$120 (AU$180) million
- Preparation for the initial 10,000m drilling campaign is underway, with technical site visits and meetings held and logistics planning now well advanced to facilitate drilling and associated exploration activities
Titan’s CEO Melanie Leighton commented:
“We are very pleased to have entered into formal binding arrangements with Hanrine for the Linderos Copper Project. The JV & earn-in agreement represents endorsement of what we believe is an exciting early-stage porphyry copper-gold discovery.
“We are well advanced in our technical discussions with Hanrine who are ready to commence exploration activities at the Linderos Copper Project, with expansion of the camp being the first task on the priority list to ensure seamless and efficient operations once drilling commences.
“We are pleased to be partnering with Hanrine, who have a well-established team in-country with the technical capability and financial capacity for us to mutually benefit from exploration success alongside contribution to the economy of Ecuador. We look forward to providing further updates on logistics and exploration activities as we prepare for commencement of the initial 10,000 metre drilling campaign at Linderos.”
Click here for the full ASX Release
This article includes content from Titan Minerals, licensed for the purpose of publishing on Investing News Australia. This article does not constitute financial product advice. It is your responsibility to perform proper due diligence before acting upon any information provided here. Please refer to our full disclaimer here.
TTM:AU
Alert Options
No alert set
INN Article Notification
Alert Option
You will be notified when this event occurs. No additional settings needed.
The Conversation (0)
31 March 2022
Titan Minerals
Developing Ecuador’s Underexplored High-Grade Mineral Deposits
Developing Ecuador’s Underexplored High-Grade Mineral Deposits Keep Reading...
21 August
Top 5 Canadian Mining Stocks This Week: Torr Metals Gains 53 Percent
Welcome to the Investing News Network's weekly look at the best-performing Canadian mining stocks on the TSX, TSXV and CSE, starting with a round-up of Canadian news impacting the resource sector.Statistics Canada released its July consumer price index (CPI) data on Monday (August 17). The... Keep Reading...
21 August
BHP, SiTration Launch Arizona Copper Recovery Pilot Program
BHP (ASX:BHP,NYSE:BHP,LSE:BHP) and MIT spin-out SiTration announced the launch of a pilot program in Arizona to extract copper from legacy mining wastewater.SiTration’s process previously demonstrated the ability to yield London Metal Exchange (LME) Grade A copper in bench-scale testing without... Keep Reading...
20 August
Clem Chambers: Copper, Platinum to Surge, Plus When I'll Buy Gold Again
Clem Chambers, CEO of aNewFN.com, shares his latest thoughts on gold and silver, including the price levels where he would be a buyer again. For now, he's more interested in platinum, where he's identified a stock he likes, and copper. "I am in copper and I am long, and it's done really well.... Keep Reading...
20 August
Philippines' US$200 Billion Tampakan Copper Mine Moves Closer to Reality After Decades of Delay
Dominion Holdings (PSE:DHI), backed by the billionaire Sy and Consunji families, is executing a three-way merger to absorb control of the Tampakan copper-gold project, positioning itself to become the largest listed mining company in the Philippines.To facilitate the transaction and future... Keep Reading...
19 August
Lundin Cuts Copper Target After Another Storm Hits Chile
Lundin Mining (TSX:LUN,OTCPL:LUNMF) lowered its full-year copper production guidance after a second winter storm in Chile's Atacama region damaged infrastructure and disrupted operations at the Caserones mine.Severe weather re-damaged a transmission tower serving Caserones that repair crews had... Keep Reading...
18 August
Wired in Metal: AI and the Changing Copper Cycle
The world is witnessing the start of a new copper supercycle.Copper supply and demand have long been dependent on electricity and industrial sectors, with the previous mining cycle cemented by infrastructure projects, manufacturing expansion and rapid city growth. The growing focus on generative... Keep Reading...
Latest News
Interactive Chart
Latest Press Releases
Related News
TOP STOCKS
American Battery4.030.24
Aion Therapeutic0.10-0.01
Cybin Corp2.140.00






