Titan Minerals (ASX:TTM) welcomes Lingbao Gold as strategic investor to advance Dynasty Gold Project

Titan Minerals Limited (ASX:TTM) has announced a major strategic investment agreement with Lingbao Gold International Company Ltd, introducing one of Asia’s most established gold producers as a long-term partner.

Under the agreement, Lingbao will invest US$10 million to acquire a 9.9% shareholding in Titan at a 33% premium to the company’s 30-day VWAP.

Chief Executive Officer Melanie Leighton discusses the significance of the partnership, how the funding will be deployed, and what the collaboration means for the future of Titan’s 100%-owned Dynasty Gold Project in southern Ecuador.

What does the US$10 million investment from Lingbao mean for Titan and its shareholders?

The US$10 million investment by Lingbao Gold International Company Ltd represents a major milestone for Titan Minerals, both financially and strategically.

Lingbao will subscribe for 25,809,865 new fully paid ordinary shares at approximately US$0.3874 or A$0.59 per share, which equates to a 31% premium to the last closing price and a 33% premium to the 30-day VWAP.

This investment provides Lingbao with a 9.9% holding in Titan and delivers low-dilution funding to accelerate ongoing drilling and derisking studies at the company’s flagship Dynasty Gold Project.

The project currently hosts a Mineral Resource of 3.1 million ounces of gold and 22 million ounces of silver.

“We are very pleased to welcome Lingbao as a strategic investor and believe there are significant synergies to be unlocked through the partnership between Lingbao and Titan’s 100%-owned Dynasty Gold Project.”

For shareholders, the investment demonstrates confidence from a major international gold producer and strengthens Titan’s financial position while validating the quality of its assets in Ecuador.

Why was Lingbao chosen as a strategic partner and what synergies exist between the two companies?

Lingbao Gold is a Hong Kong-listed enterprise with a market capitalisation of around US$3.5 billion.

The company operates five large-scale gold mines across China and one in the Kyrgyz Republic, and it runs significant smelting and refining operations.

Its products include “Lingjin” national-standard gold ingots, silver, electrolytic copper, and sulphuric acid.

The partnership is underpinned by a strong technical alignment between Lingbao’s expertise and Titan’s project requirements.

The ore at the Dynasty Gold Project is well suited to producing gold-silver concentrates, which are compatible with Lingbao’s established processing and refining facilities in China.

This creates a direct pathway for potential collaboration in the processing and downstream stages of production.

“Through their Hong Kong listing and mining operations, Lingbao have access to substantial capital along with a proven track record of developing and mining high grade gold deposits. These key attributes align with our aim to fast-track the development and mining of the Dynasty Gold Project in southern Ecuador.”

The alignment in technical capability and long-term strategy positions both companies to benefit from shared expertise and a mutual goal of advancing the Dynasty Gold Project efficiently and responsibly.

How will the proceeds from the investment be used?

Titan will allocate most of the proceeds from the investment toward advancing exploration and technical studies at the Dynasty Gold Project.

The company will focus on resource definition drilling to upgrade the confidence of the existing Mineral Resource, refine geological models, and complete ongoing derisking work to support potential future development.

The project covers 139 square kilometres across five contiguous concessions and hosts a nine-kilometre strike extent of epithermal gold mineralisation.

Additional exploration work continues at the Kaliman, Cola, and Gisell prospects, which have demonstrated potential for porphyry copper mineralisation.

A smaller portion of the funding will be used for corporate and transaction costs. Overall, the investment ensures Titan can continue exploration and project development activities with minimal shareholder dilution while maintaining steady operational momentum.

What are the key terms of the exclusivity arrangement with Lingbao?

In conjunction with the investment, Titan and Lingbao have entered into an Exclusivity Deed that establishes a clear process for evaluating further collaboration.

Under this agreement, Lingbao has been granted a 90-day exclusivity period to conduct confirmatory due diligence on the Dynasty Gold Project.

During this period, Titan is bound by standard “no shop,” “no talk,” and “no due diligence” restrictions, except in the case of a superior proposal that meets fiduciary obligations.

Lingbao also has a right of first refusal for 180 days should Titan receive a third-party proposal involving the disposal of all or part of the Dynasty Gold Project.

This ensures a transparent process where Lingbao may match or submit a superior offer under defined terms.

“The partnership between Lingbao and Titan will not only aim to unlock the value of the Dynasty Gold Project, but also, in future, aim to unlock the value of other assets that Titan holds.”

Additionally, if a third-party proposal proceeds, it must include a binding offer to acquire Lingbao’s shareholding in Titan at a fixed price of US$0.42619362 per share, equal to US$11 million for the full holding.

This provides mutual protection and clarity for both parties throughout the evaluation period.

What does this partnership mean for the future of the Dynasty Gold Project?

The partnership with Lingbao marks a pivotal step in advancing the Dynasty Gold Project and underscores the project’s scale and potential.

Dynasty hosts 3.1 million ounces of gold and 22 million ounces of silver, with exploration continuing to identify new mineralised zones across a nine-kilometre strike.

Drilling and technical studies remain ongoing to further expand and refine the project’s resource base.

“I believe that we are about to enter a period of significant value creation for our shareholders, many of whom have supported us since acquiring the projects in 2020.”

With Lingbao’s investment and participation, Titan now has the capital, technical support, and strategic alignment needed to fast-track its work programs.

The company will continue to progress drilling, resource updates, and project studies while maintaining focus on responsible development and long-term value creation for shareholders

Building a stronger foundation for growth

The strategic investment from Lingbao Gold represents a turning point for Titan Minerals, combining financial strength with technical expertise to accelerate the development of the Dynasty Gold Project.

The transaction introduces a well-capitalised international partner whose operations and capabilities align closely with Titan Minerals project strategy.

As the company advances drilling and derisking activities across its Ecuadorian portfolio, this partnership provides both the resources and the confidence needed to move into its next stage of growth.

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