Isn't it funny that a company will always release the good news...

Isn't it funny that a company will always release the good news but is a little bit slow on the bad news! Read below for those that have an interest in TIR - bit disappointing really - common guys!!!

Sydney - Monday - October 18: (RWE Australian Business News) -
Titan Resources NL has commenced nickel production at its first mining
operation in the Widgiemooltha region of WA with the first delivery of
nickel sulphide ore from its wholly-owned Armstrong mine.
The ore was delivered to WMC Resources Ltd's Kambalda Nickel
Concentrator on October 15 and 16.
The delivery was in accord with the previously announced
production schedule.
A parcel of about 1500 tonnes at an estimated grade of 1.8 per
cent nickel from the Armstrong open pit represents the first parcel of
ore delivered to WMC Resources under Titan's ore tolling and concentrate
purchase agreement with WMC.
The Armstrong mine, some 80km south of Kalgoorlie, is forecast
to produce more than 465,000 tonnes of nickel ore over a three-year mine
life, initially from an open-cut followed by an underground operation.
Shares in Titan today rose 1.5c to 29c and WMC Resources 10c to
$5.08.
ENDS

and then......

Armstrong slow off the mark


Rebecca Keenan


Wednesday, November 24, 2004
TITAN Resources has had a disappointing start to production from its Armstrong mine with the first two parcels of ore delivered to the WMC Resources' Kambalda nickel concentrator in Western Australia turned away because of unacceptably high levels of non-sulphide nickel.

The grade of the first delivery of 1468 tonnes in mid-October did not meet requirements under the Ore Tolling and Concentrate Purchase Agreement with WMC, and whilst a second parcel of 1855t contained less non-sulphide nickel, it was still deemed unacceptable.

At its annual general meeting last week chairman Richard Tastula explained to shareholders that the high level of non-sulphide nickel was caused when a higher quantity of the partially oxidised material was mixed with the sulphide mineralisation. Oxidised material does not collect in the flotation concentrate and is lost to tailings.

The Armstrong mine was forecast to produce around 126,000t at 1.78% nickel from the first delivery until February from the open pit, with the underground development due to start in December.

Tastula said Titan was addressing the issue and was confident that once mining reached deeper levels – and thus less oxide material – ore deliveries would be accepted, scheduled for next month.

The company is currently drilling the pit floor to ensure only suitable material is delivered to WMC.

Titan's Armstrong mine contains a total mineable resource of 465,000t at 2.12% nickel, giving it a mine life of around three years.

Titan shares closed up 4% today at 23.5c.


Good one!!!!!!!!!!!!!!