We are alerting subscribers of an old zinc-turned gold deal run by AugustaGroup, Titan Mining Corporation (TSX: TI)
Why now?
Early this morning, Titan Mining announced that is has signed an option agreement on the Mineral Ridge property in Nevada from Scorpio Gold. Prior to the acquisition, TI was a pure-play zinc production company. However, in recognition of the current bull run in gold prices, it seems the AugustaGroup felt that adding a gold asset would be the best way to create shareholder value. Richard Warke, CEO of Titan Mining, commented on the transaction, “We believe a portfolio of projects that fits this strategy is the best way to grow and translate into building substantial value for our shareholders.”
The last few times the AugustaGroup put their weight behind a gold deal, it resulted in billions of dollars in shareholder value created. This is a very special situation. Richard Warke and the AugustaGroup of companies are one of the most powerful, successful, and influential groups in the business. They very rarely do new deals. But when they do, they are almost always home runs. Ventana Gold, Arizona Mining, Augusta Resource Corporation, Newcastle Gold. The list goes on and on.
We will be publishing a more in-depth note on Titan Mining Corporation and the newly acquired mineral ridge asset, later this week.
Disclosure: Author owns shares of Titan Mining Corporation and may choose to buy or sell at any time without notice. Author did not receive any compensation for publishing this article.
DISCLAIMER: The work included in this article is based on current events, technical charts, company news releases, and the author’s opinions. It may contain errors, and you shouldn’t make any investment decision based solely on what you read here. This publication contains forward-looking statements, including but not limited to comments regarding predictions and projections. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. This publication is provided for informational and entertainment purposes only and is not a recommendation to buy or sell any security. Always thoroughly do your own due diligence and talk to a licensed investment adviser prior to making any investment decisions. Junior resource companies can easily lose 100% of their value so read company profiles on www.SEDAR.com for important risk disclosures. It’s your money and your responsibility.