Titan Mining Corporation reported record second-quarter revenue of $25.7 million for the period ended June 30, 2026, representing a 57% increase compared with the second quarter of 2025.

The revenue growth was underpinned by zinc production of 17.5 million payable pounds from the Empire State Mine in New York State, marking a 13% rise year-over-year and a 23% increase from the first quarter. Operations focused on the Mahler, New Fold and Mud Pond zones within the number four mine, where longhole stoping in the Mud Pond Apron and the recovery of high-grade pillars delivered grades and tonnes above target. This performance fully recovered the production shortfall caused by a first-quarter hoisting outage.

Adjusted EBITDA reached $9.6 million, up 272% from a year earlier, driven by stronger zinc volumes and a 7% increase in the average provisional zinc price to $1.57 per pound. Net income for the quarter stood at $5.4 million, or $0.06 per basic share, compared with $0.5 million in the second quarter of 2025.

Unit operating costs improved during the quarter, with C1 cash costs dropping 15% sequentially to $0.88 per pound and All-In Sustaining Costs declining 9% to $0.96 per pound. The balance sheet also strengthened, with net debt decreasing to $12.8 million from $24.2 million in the second quarter of 2025. Titan ended the period with $29.1 million in available liquidity, comprising $13.3 million in cash and $15.8 million in undrawn facility capacity.

“Titan delivered a record quarter. Revenue grew 57% and Adjusted EBITDA nearly quadrupled year-over-year, reflecting the strength of our zinc operations. We have continued to advance our Kilbourne graphite project by securing two graphite customer agreements, validating Kilbourne and launching our commercial order book.” — Rita Adiani, President and Chief Executive Officer

“Just as important, the balance sheet is materially stronger, providing flexibility to advance our strategic initiatives. Available liquidity stands at $29.1 million, and our zinc operation is generating cash flow to support growth. With a fully funded feasibility study and growing commercial momentum, Titan is well positioned to become a leading U.S. supplier of critical minerals to defense and industrial supply chains” — Rita Adiani, President and Chief Executive Officer

Titan reaffirmed its full-year 2026 production guidance of 62 million to 66 million payable zinc pounds, alongside C1 cash cost guidance of $0.93 to $1.01 per pound and AISC guidance of $1.07 to $1.17 per pound. Mining activities in the N2D zone, which were temporarily suspended to redeploy equipment to higher-grade areas, are expected to resume in the fourth quarter of 2026.

The company also advanced its Kilbourne Graphite Project during the quarter, securing a conditional supply agreement with RHI Magnesita and a non-binding letter of intent with a U.S. aerospace, defense and advanced industrial manufacturer. A construction decision for the proposed 40,000 tonnes-per-annum Kilbourne facility is targeted for early 2027, subject to board approval, feasibility study results, permitting and financing.

Read the full announcement: Titan Mining Reports 57% Revenue Growth and Nearly 4x Adjusted EBITDA