I also thought the report very upbeat wih nothing to cause investor disquiet, unless big expectations had built up around the early commercialization of BioHeap.
I suspect what we are seeing is just profit taking in what has been a very hot sector. IGO, WSA, VRE etc have all come back in recent days so I don't think it's peculiar to Titan. Also, volumes have been relatively light. Investors like to lock in their gains in a nervous market and we've seen the ASX come back more than 100 points from its recent highs. A few big sell orders might have triggered stop-losses in recent days and caused a few jitters. The big picture though looks unchanged for Titan and nickel generally.
Canny investors will appreciate the buying opportunity and jump back into TIR soon IMO, given that it is close to production and that the demand for nickel continues unabated. The fundamentals for Titan(exploration, strong free cash, record demand and prices) remain very strong so if it holds above 40 cents, perhaps we'll see a rebound next week.
R/Gupper
TIR
titan resources limited
