Cash on 31 March: $ 21 mill. Shares: 169 mill and 14.85 mill. unlisted options.
OVERVIEW: Broadly, TIR has a number of prospects: Widgiemooltha, Carr boyd and the Johnston Range. Many of the prospective Mining rights have been bought from WMC.
Once Mining starts, the nickel concentrate wil be transported to the WMC smelter and WMC wil buy the nickel from TIR.
The Kambalda region has been noted for its nickel discoveries and the Widgiemooltha prospects are an important part thereof.
TIR also discovered a new method of treating low grade ores (heap leach operation): http://www1.titanresources.com.au/pages/overview.asp The Pilot Testwork was very successful: http://www1.titanresources.com.au/pages/pilot.asp
And TIR is testing various ores: http://www1.titanresources.com.au/pages/projects.asp
If the system does work then there could be an unlimited supply of low grade nickel becoming available from other producers: there is much nickel being produced with less than 1% nickel content. The quarterly reports will refer to progress being made. ____________________________________________
1. ACQUIRING NICKEL RESOURCE PROPERTIES. An excellent summary of Announcements is presented here: http://www1.titanresources.com.au/pages/announcements.asp
Extracts: Purchase of Carr Boyd nickel properties Date 15 March 2001: http://www1.titanresources.com.au/pages/ann_15_march_2001.asp
Purchase of the North Widgiemooltha Block (Kambalda) -Date: 10 July 2001: http://www1.titanresources.com.au/pages/ann_10_jul_b_2001.asp
and delineation of this Block-Date 10 July 2001. http://www1.titanresources.com.au/pages/ann_10_jul_2001.asp
Purchase of Mining tenements close to Carr Boyd-Date: 21 Aug: http://www1.titanresources.com.au/pages/ann_21_aug_b_2001.asp
Acquisition of Nickel properties in the Widgiemooltha are-Date 10 Sept. 2003: http://www1.titanresources.com.au/pdf/asx_announcements/nickel_properties_100903.pdf
Titan strengthens position in the Kambalda Nickel Belt-10 Sept. 2003: http://www1.titanresources.com.au/pdf/asx_announcements/mr_kambalda_nickel_belt_100903.pdf
2. EXPLORATION. This item can be found on the top bar of the TIR web site. Please note that it is continuously out of date due to new discoveries: http://www1.titanresources.com.au/
The summary of events is here: http://www1.titanresources.com.au/pages/announcements.asp
Important Extracts: Titan trebles nickel resources at Widgiemooltha Project -Date 14 Febr. 2003: http://www1.titanresources.com.au/pdf/titan_trebles_nickel_resoures_at_widgiemooltha_north.pdf
Drill results increase potential of Widgiemoltha North Nickel project-Date 30 April 2003: http://www1.titanresources.com.au/pdf/drill_results_increase_300403.pdf
Drilling update-Widgiemoltha area.-Date: 3 June 2003: http://www1.titanresources.com.au/pdf/ann09.pdf
Progress Report - Widgiemooltha North Drill Program-Date 16 july 2003: http://www1.titanresources.com.au/pdf/north_drill_program_160703.pdf
Progress report- Widgiemoltha exploration- Date 2 Sept. 2003. http://www1.titanresources.com.au/pdf/ann18.pdf