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Titanium Corporation, Inc.

Publié le 30 avril 2008

Issues Q2 financial statements

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Mots clés associés :   Canada |

 

 titanium corporation Issues Q2 financial statements

conference call scheduled for 10:00am EST on Thursday, May 1, 2008

 

 

Toronto, Ontario�.April 30, 2008�Titanium Corporation Inc. (�the Company�) [TSX-V: TIC] announces that its quarterly financial statements for the three and six month period ended February 29, 2008 have been filed. 

 

Since the Company�s first quarter report, a number of significant operational milestones have been achieved:

 

         Titanium Corporation was awarded a $3.5 million Energy Innovation Fund Grant from the Province of Alberta (see news releases dated March 28, 2008 and March 31, 2008).  This significant funding and support from the Government is directed at the Company�s research programs into the value-added opportunities and environmental benefits of recovering hydrocarbons and heavy minerals from oil sands tailings streams.  Under the terms of the Grant, the Company has established an Advisory Committee comprised of individuals drawn from the research community, government agencies and industry.

 

         The Company expanded its bitumen recovery research programs to include additional expert research firms in the United States.  Detailed planning was completed for this new work, which is underway in the third quarter.

 

         The Company completed its strategic business plan, which reviewed technical progress, outcomes, markets and business conditions.  The plan confirmed the Company�s enhanced focus on programs aimed at the integrated recovery of bitumen and minerals.     

 

The Company has an Exclusivity Agreement with Syncrude Canada Ltd. which is scheduled to expire on May 16, 2008.  In conducting the next phase of its research and development programs, the Company will be collaborating with independent research organizations, government agencies and the oil sands industry with a view to developing an industry-wide solution.  Accordingly, the Company will not seek to renew the Exclusivity Agreement.  The Company intends to continue testing of tailings and associated research programs in cooperation with its research partners and the industry.

 

Expenses incurred in the second quarter ($1,375,656) and in the first six months of fiscal 2008 ($2,334,112) increased, compared with the comparable 2007 periods ($1,107,369 and $1,987,719 respectively) due to increased professional fees and research and development expenses related to the Company�s minerals and bitumen recovery programs. 

 

The Company maintains a strong balance sheet with a cash position of $19 million at the end of the quarter. 

 

The Company�s unaudited financial statements and Management�s Discussion and Analysis for the second quarter of fiscal 2008 can be found on SEDAR at www.sedar.com and on the Company�s website at www.titaniumcorporation.com.

 

Titanium Corporation Inc. will host an update conference call at 10:00 am Toronto/NewYork time (EST) on May 1, 2008.  The North American toll-free conference call dial-in number is 1-866-334-3876 and the international dial-in is 416-849-4292.  A live audio webcast of the conference call will be available to all interested parties through Titanium Corporation�s website www.titaniumcorporation.com or through www.investorcalendar.com   A replay of the conference call will be available until May 15, 2008; toll free dial-in at 1-866-245-6755 and local/international dial-in at 416-915-1035, passcode number 935843.

 

About Titanium Corporation

Titanium Corporation Inc. is a Canadian company developing a commercial process to maximize the inherent value existing in the waste material currently being deposited in oil sands tailings in the Fort McMurray, Athabasca region.  The Company is developing technology and processes to integrate the recovery of heavy minerals and bitumen contained in the froth treatment tailings of oil sands mining extraction operations.  The potential exists in such processes to recover previously wasted resources and also to simultaneously deliver environmental benefits with the objective of creating a new sustainable industry for Canada.  Titanium Corporation Inc. shares trade on the Toronto Venture Exchange (TSX.V) under the symbol TIC. For more information, please visit our website www.titaniumcorporation.com.

 

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy and accuracy of this release.

 

For further information:

Scott Nelson, President & CEO                                 Carolyn Muir, Investor Relations        

Titanium Corporation Inc.                                           Titanium Corporation Inc.

403-561-0439                                                              416-955-0715 X 224

E-mail: snelson@titaniumcorporation.com                cmuir@titaniumcorporation.com

 

Données et statistiques pour les pays mentionnés : Canada | Tous
Cours de l'or et de l'argent pour les pays mentionnés : Canada | Tous

Titanium Corporation, Inc.

CODE : TIC.V
ISIN : CA88833T1049
CUSIP : 88833T104
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Titanium Corp est une société d’exploration minière de pétrole basée au Canada.

Titanium Corp détient divers projets d'exploration au Canada.

Son principal projet en exploration est OIL SANDS PROJECT au Canada.

Titanium Corp est cotée au Canada et aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 115,5 millions CA$ (92,4 millions US$, 87,0 millions €).

La valeur de son action a atteint son plus haut niveau récent le 11 mars 2005 à 4,24 CA$, et son plus bas niveau récent le 24 décembre 2008 à 0,15 CA$.

Titanium Corp possède 79 140 000 actions en circulation.

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Rapports Financiers de Titanium Corporation, Inc.
22/07/2016Reports Fiscal Year 2016 Third Quarter Results
29/04/2016Reports Fiscal Year 2016 Second Quarter Results
24/01/2014Reports Fiscal Year 2014 First Quarter and Operational Updat...
30/04/2013Reports Fiscal Year 2013 Second Quarter Results and Operatio...
24/01/2013Reports Fiscal Year 2013 First Quarter and Operational Updat...
20/07/2011Reports Fiscal Year 2011 Third Quarter Results and Operation...
21/04/2011Reports Fiscal Year 2011 Second Quarter Results and Operatio...
27/01/2009Reports 2009 First Quarter Results
24/11/2008Reports 2008 Fourth quarter Results
Projets de Titanium Corporation, Inc.
22/06/2007(Oil Sands Project) Oil Sands Drill Core Evaluation Program
Communiqués de Presse de Titanium Corporation, Inc.
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16/04/2015Titanium Corporation Reports Fiscal 2015 Second Quarter Resu...
12/02/2015Titanium Announces Release of Updated Investor Presentation ...
11/02/2015Titanium Corporation Ranked in the 2015 TSX Venture 50(R) in...
29/01/2015Titanium Corporation Reports Fiscal Year 2015 First Quarter ...
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13/06/2014Titanium Announces Resignation of Director
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26/03/2014Titanium Corporation Featured at Globe Conference
13/11/2013Reports Fiscal Year End Results; Advances Toward Commerciali...
19/07/2013Logs Key Milestones Towards Commercialization of Value Extra...
16/05/2013Awarded Final Canadian Patent for Breakthrough Oil Sands Tai...
17/04/2013Awarded Patent for Technology That Boosts Bitumen Recovery f...
17/04/2013Awarded Patent for Technology That Boosts Bitumen Recovery f...
27/03/2013Receives Government of Canada Support for a Paraffinic Froth...
22/03/2013Federal Budget Provides Additional $325 Million for Sustaina...
12/12/2012Announces Award of Patent for Breakthrough Oil Sands Tailing...
16/10/2012Awarded Canadian Patent for Minerals Recovery from Oil Sands
10/03/2011Successfully Completes Second Phase of Demonstration Pilot
11/03/2010Sustainable Development Technology Canada Signs Contribution...
28/07/2008Issues Q3 financial statements
23/07/2008senior executive joins titanium Corporation Board
07/07/2008Oil sands Expert joins Titanium Corporation management team
30/04/2008Issues Q2 financial statements
31/03/2008receives $3.5 million Grant from The Province of alberta
28/03/2008Research project to capture valuable minerals from oil sands...
25/02/2008Stock Option Grant
20/12/2007Gordon Pridham appointed as Executive chairman
17/12/2007Victor Wells appointed as chief financial officer
19/11/2007 Senior mining and heavy oil executive joins titanium Corpor...
20/04/2007TIC News Release April 19, 2007
19/04/2007quarterly update
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