This gold stock is looking cheap ahead of a resource upgrade: broker

This company has flagged more news to come soon.

| More on:

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

Titan Minerals Ltd (ASX: TTM) announced new drilling results this week after a major drilling campaign last year, but the more interesting news might be that a mineral resource update at its Dynasty project is imminent.

The team at Canaccord Genuity follow the company and has a very bullish share price target on the stock, which we'll get to later.

Firstly, to the drilling results announced this week.

Two mining workers on a laptop at a mine site.

Image source: Getty Images

Major drilling campaign delivering results

The company completed a 25,000m drilling campaign in 2025, and this week reported that the drilling had intersected "further wide zones of gold, silver and copper porphyry mineralisation'' at the Kalimantan exploration target.

These results included intersections of 159.9m at 0.7 grams per tonne of gold equivalent, starting at just 2m from surface, and 138.4m at 0.8 grams per tonne of gold equivalent, starting at 3.6m from surface.

The company said there were extensive zones of porphyry and breccia-hosted mineralisation, which would be incorporated into the upcoming Dynasty mineral resource update.

The company said further:

The addition of wide zones of porphyry-hosted mineralisation has the potential to reduce strip ratios, increase the project scale, extend mine life and enhance overall economics. Mine studies are scheduled to commence upon delivery of the updated Mineral Resource in late Q1 2026.

Titan Chief Executive Melanie Leighton said regarding the results:

Time and time again, we see the scale and continuity of mineralisation being confirmed by our drilling. These latest results have continued to hit mineralisation as predicted by our modelling, and as identified by our surface mapping and geochemistry where we have designed drilling to test new extensional areas. Cerro Verde already has epithermal hosted resources of 1.9Moz gold and 12Moz silver, so incorporating bulk zones of porphyry and breccia hosted mineralisation is set to substantially grow and enhance resources. I'm pleased to advise that Entech Mining, are in the final stages of the Mineral Resource estimation and we look forward to delivering the Dynasty resource update very soon. Orelogy Mine Consulting are undertaking preparatory work, ready to commence mine studies upon delivery of the updated resource. There are many other exciting targets that remain to be tested at Dynasty, and we look forward to getting the drill rigs out to test the compelling porphyry copper targets and new gold targets that have been highlighted by technical workshops recently held in Ecuador.

Shares looking cheap

The team at Canaccord said they had updated their model, but had left their price target unchanged at $1.95, compared with 99.5 cents for Titan shares currently.

But they pointed out that the valuation is based on the "soon to be outdated" previous resource estimate.

The ASX gold company was valued at $291.8 million at the close of trade on Wednesday.

Motley Fool contributor Cameron England has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

More on Gold

Gold bars and Australian dollar notes.
Gold

My rocketing ASX stock is up 28% in 12 days. Time to sell?

If not now, when?

Read more »

Man putting golden coins on a board, representing multiple streams of income.
Gold

How high does UBS think Minerals 260 shares will go?

This gold project developer remains undervalued, analysts say.

Read more »

Two CEOs shaking hands on a deal.
Gold

Newmont share price on watch after Nevada Gold Mines JV deal with Barrick

The gold giant has released an update on its Nevada Gold Mines joint venture.

Read more »

Woman with gold nuggets on her hand.
Gold

Physical gold ETFs or gold miners? What the numbers say

Two ways to own gold, with very different risks.

Read more »

Stock market chart in green with a rising arrow symbolising a rising share price.
Share Gainers

This ASX 200 stock turned $5,000 into $31,960 in just 1 year. Here's how

Investors have sent this ASX 200 stock rocketing 539% in 12 months. But why?

Read more »

A few gold nullets sit on an old-fashioned gold scale, representing ASX gold shares.
Gold

Buying ASX 200 gold stocks? Here's how Evolution Mining, Newmont and Northern Star shares stacked up in July

Evolution Mining, Newmont, and Northern Star Resources shares were turning heads in July.

Read more »

A woman stands in a field and raises her arms to welcome a golden sunset.
Gold

4 ASX 200 gold shares to buy: Experts

Experts explain their buy ratings following these miners' June quarter reports.

Read more »

Man putting golden coins on a board, representing multiple streams of income.
Gold

3 ASX gold companies that could double in value according to Canaccord Genuity

These producers look undervalued according to the analysts.

Read more »