Titan Mining Revenue Rises to $45.3 Million for First Half
The natural resource company reported a six-month revenue increase of $12.9 million compared to the same period in 2025
Titan Mining Corp (TII), a natural resource company producing zinc concentrate and natural flake graphite, reported revenue of $45.3 million for the six months ended June 30, 2026. This represents an increase of $12.9 million over the $32.4 million reported for the same period in 2025.
The company attributed the six-month revenue growth primarily to a $0.28 per pound increase in average provisional pricing, which rose to $1.52 per pound from $1.24 per pound in 2025. This pricing gain was partially offset by a decrease in concentrate sales, which fell to 31.16 million pounds from 31.60 million pounds. Additionally, the company recorded a $4.9 million increase in concentrate provisional pricing adjustments.
For the three months ended June 30, 2026, revenue was $25.7 million, up $9.4 million from $16.3 million in the prior-year quarter. This quarterly increase was driven by higher concentrate sales of 17.19 million pounds compared to 16.00 million pounds, and a higher average provisional price of $1.57 per pound versus $1.20 per pound.
Despite the revenue growth, the company reported a net loss of $8.0 million for the six months ended June 30, 2026, compared to a net income of $893,000 for the same period in 2025. The company recorded a net income of $5.4 million for the second quarter of 2026, compared to $539,000 for the second quarter of 2025.
Operating costs remained stable. Cost of sales for the six months ended June 30, 2026, was $28.3 million, an increase of $365,000 over the prior-year period. Higher operating and transportation costs of $1.4 million were offset by lower depreciation of $754,000 and a favorable inventory change of $257,000.
Titan Mining expanded its operations into graphite, commissioning a 1,200 metric tonne per annum processing facility in December 2025 with production starting in early 2026. The company reported $1.8 million in graphite project expenses and $5.3 million for a graphite feasibility study during the first half of 2026.
As of June 30, 2026, the company held $13.3 million in cash and cash equivalents. Total equity rose to $25.8 million from $3.8 million as of December 31, 2025. This increase followed the exercise of special warrants and the issuance of shares through an ATM program.
The company said the Empire State Mines remain on track to achieve 2026 production guidance of between 73 million and 78 million zinc recoverable pounds.