Yes, it is exasperating, but many start-up companies dilute after such a pop. I don't know if they're diluting or not, but it sure looks that way. Yet the news is good. If they can make a go of this during rising silver prices (and silver is way undervalued right now), the share price can recover.
Titan Acquires Ownership Interest in Prolific Past Producer
COBALT, ON, Mar 01, 2007 (MARKET WIRE via COMTEX) -- Titan Resources International Inc. (PINKSHEETS: TNRI) is pleased to announce the acquisition of a 12% (twelve percent) ownership interest in Silver Centre Resources Inc., (SCR) and the assets held by SCR, a private resource exploration company. As per the "Option Agreement" entered into by TNRI and SCR, Titan can earn up to an additional 38% ownership (for a total earned interest of 50%) in SCR by fulfilling various financial and development milestones and obligations.
SCR owns 13 contiguous patented mining claims located in the South Lorrain Township, just outside of Cobalt, Ontario, Canada. The property lies within the legendary "Temiskaming Silver Belt" and contains the former prolific past producing "Keeley" and "Frontier" Mines.
The total recorded historical production from the "Keeley" and "Frontier" Mines, combined, was just over 19.2 million ounces of silver and 3.3 million pounds of Cobalt.
TNRI together with SCR will begin work immediately on the property, with the aim of proving up mineable reserves of silver and cobalt. Phase one of the planned exploration program will commence early in the spring of 2007.
Titan will endeavor to update the progress of the exploration work on a timely basis.
About Titan Resources
Titan Resources International Inc. is an emerging precious metals company that is involved in the acquisition and exploration of both gold and silver resource properties. TNRI's goal is to become a junior precious metals producer focusing on the exploration, discovery and delivery of these and other related minerals in the global marketplace.
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