TIR titan resources limited

'jubilee' year for nickel sector

  1. 749 Posts.
    Titan Resources received an approving nod in 'The Age' business section this morning. Yesterday Titan announced its purchase of highly prospective tenements in the Kambalda region from WMC (using only a small portion of Titan's substantial cash reserves).

    'Age' Resources editor, Barry Fitzgerald, observed that 'Titan is already well placed [in terms of nickel reserves], with plans to bring on a couple of nickel mines in the next 12 - 18 months.'

    The remarks came in the context of the earnings benefits that booming nickel prices have provided to junior and mid-tier nickel stocks such as Jubilee, which yesterday reported a 64% rise in earnings with a consequent 16% jump in share price. Most analysts see the global shortfall in nickel production as fuelling a rising nickel price for the next 12 - 24 months.

    It doesn't take much foresight then to project Titan into a similar position to companies like Jubilee in the not-too-distant future and I guess that explains the small fillip in the price yesterday. The chart is pretty exciting too, with .54 cents the next point of major resistance. We're still a long way off that I know but the upward momentum over the past couple of weeks (and the price trajectory of competitors like IGO, SMY and VRE) suggests it is a distinct possibility.

    Anyone contrarian views out there, apart from the obvious point that BioHeap remains unproven to date?

    Obviously I hold. Conduct your own research.


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