TXR Titanium Res

 

TIDMTXR 
 
RNS Number : 1023G 
Titanium Resources Group Ltd 
26 January 2010 
 
                            Titanium Resources Group 
                               Operational Update 
26 January 2010: Titanium Resources Group ("TRG" or "the Company") today issues 
an update prior to the publication of its Preliminary Results on Tuesday 23 
March 2010. The Board is encouraged by the positive developments on a number of 
fronts: production, marketing and operations. 
The last quarter of the year ended 31 December 2009 was particularly strong 
with rutile production up 96.8% compared to Q3, contributing 21,514 tonnes to an 
annual figure of 63,864 tonnes which was broadly in line with the Companys 
estimates. The Company also produced 15,161 tonnes of ilmenite and 8,501 tonnes 
of zircon concentrate in the year to 31 December 2009. 
Price increases of between 4-6% have been achieved with customers for the 
majority of our confirmed shipments for 2010 production and we are pleased to 
confirm the appointment of Neil Gawthorpe as our new Marketing Director. 
In the last quarter, the Company took advantage of depressed prices for mining 
equipment to purchase a new IMS Versi-Dredge ("the Versi-Dredge") for US$1.1 
million which was financed entirely from existing cash flows. Once commissioned 
in spring 2010, it will reduce the negative impact of mineral slime problems at 
the Lanti South Pond which have affected production volumes during the last 
year. 
Later in the current year, it is anticipated that the Versi-Dredge will be 
deployed to increase overall production at the Mogbwemotailings area 
which contains a mineral resource of approximately 18 million tonnes at an 
average rutile grade of 0.94%. 
The developments associated with the Placing which raised approximately US$25 
million in November (Dredge D3, upgrades to the wet plant and land plant) are 
continuing and we look forward to providing further detail on progress with the 
publication of our full year results. 
 
                                      ENDS 
 
For further information: 
 
Titanium Resources Limited 
John Sisay, Chief Executive 
Walter Kansteiner, Non-executive Chairman 
Tel: +44 (0) 207 321 0000 
 
Arbuthnot Securities 
Nominated Adviser & Broker 
John Prior / Ed Burbidge 
Tel: +44 (0) 20 7012 2000 
 
Aura Financial 
Michael Oke / Andy Mills 
Tel: +44 (0) 207 321 0000 
 
Titanium Resources Group 
Titanium Resources Group operates the Sierra Rutile mine in the Republic of 
Sierra Leone, through its subsidiary Sierra Rutile Limited. The Group is the 
country's largest private sector employer and produces rutile and ilmenite for 
use in industrial applications. The Groups operations historically accounted 
for over 65 per cent of the exports of Sierra Leone. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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