The All Ordinaries Index (ASX: XAO) is extremely unlikely to more than triple in value over the next year, but this ASX All Ords gold stock has been tipped to do just that.
The promising ASX gold and copper miner in question is Titan Minerals Ltd (ASX: TTM).
In late afternoon trade on Monday, Titan Minerals shares were changing hands for 58 cents apiece. That's up more than 87% over the past year, despite the 32% year to date drop spurred by a retrace in the record setting gold price.
But that retrace could offer an opportune entry point, with the investment team at Euroz Hartleys forecasting some outsized potential gains could be on offer.
Here's why.
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ASX All Ords gold stock on the growth path
Last Tuesday, the Titan Minerals share price closed up 1.8% after the company announced some promising drill results from its Linderos Copper Porphyry Project, situated near its Dynasty Gold Project. Both projects are located in Ecuador.
Among the top results, the ASX All Ords gold stock reported intersecting 700.4 metres 0.36% copper equivalent (CuEq) from 270.3 metres, including 20 metres @ 0.82% CuEq from 316.2 metres.
Euroz Hartleys said this was "a strong drill result and higher grade than previously reported results, in our view highly encouraging for future drilling programs".
A second drill hole at Linderos returned 302.3 metres @ 0.32% CuEq from 197.1 metres, including 102.3 metres @ 0.37% CuEq from 287.7 metres.
In its bullish outlook for the Aussie miner, Euroz Hartleys noted, "The Linderos porphyry system now extends for >1km in strike length and >1km depth, highlighting the potential for Copper Ridge to host a large bulk tonnage copper system."
Investors also responded positively to news that Hancock subsidiary Hanrine has successfully completed a joint venture milestone by spending US$20 million to earn a 51% stake in Linderos.
Commenting on that increased stake, Euroz Hartleys said, "The JV/earn-in milestones were agreed in 2024; it is pleasing to see Hanrine spend US$20m within that timeframe relative to the 7 years permitted under the initial agreement."
What about the gold?
Atop its copper assets, this is an ASX All Ords gold stock we're talking about here.
According to Euroz Hartleys:
Remember that TTM holds 100% of the Dynasty Gold Project in Ecuador, which hosts a mineral resource of 65.6Mt @ 1.85g/t Au, 12.38g/t Ag for 3.9Moz gold and 26Moz silver.
The broker added, "Ongoing drilling success and resource expansion further reinforce Dynasty's scale and development appeal."
Connecting the dots, Euroz Hartleys maintained its speculative buy rating on Titan Minerals with a $1.93 price target.
That represents a potential upside of more than 232% from current levels.
Or enough to turn a $10,000 investment into $33,276.
