Titan Mining Posts Q1 Revenue Jump and Starts U.S. Graphite Shipments as Critical Minerals Push Accelerates

Titan Mining Corporation ( (TSE:TI) ) has shared an update.

For the first quarter ended March 31, 2026, Titan Mining reported zinc production of 14.2 million payable pounds, driving a 22% year-on-year increase in revenue to $19.6 million, with C1 cash costs of $0.98 per pound and all-in sustaining costs of $1.01 per pound, both at or better than guidance. Despite a net loss before tax of $13.34 million largely due to a non-cash $13.19 million fair value loss on derivatives, the company generated positive operating cash flow before working capital changes, ended the quarter with $13.8 million in cash, and continues to forecast adjusted EBITDA of $20 million to $28 million for 2026.

Operationally in Q1 2026, Titan focused mining at its Mahler, New Fold and Mud Pond Apron zones, recovered from a temporary hoisting disruption through higher milling and extended shifts, and advanced capital development including ventilation and ramp infrastructure. The Kilbourne Graphite Project hit key milestones with initial domestic graphite concentrate shipments from a demonstration facility and progress on a fully funded feasibility study for a proposed 40,000 tonne-per-year plant backed by U.S. export credit support.

Titan’s exploration programs underscored growth potential, with underground drilling at Empire State Mines confirming high-grade zinc mineralization, including a 3.3-foot intercept grading 31% zinc at the Little York target. At Kilbourne, 13,384 feet of drilling across 37 holes extended graphite mineralization up to 2,500 feet beyond the current resource boundary with grades consistent with the main deposit, strengthening the case for resource expansion and long-term graphite supply.

The company also advanced work on germanium, a U.S.-designated critical mineral, identifying that germanium in existing process streams at Empire State Mines is largely hosted in mica and gangue rather than sulphides, which helps define potential recovery methods. If successfully commercialized, germanium extraction could provide incremental cash flow alongside zinc and deepen Titan’s positioning as a domestic supplier of critical minerals to U.S. industrial and defense customers.

The most recent analyst rating on (TSE:TI) stock is a Buy with a C$6.00 price target. To see the full list of analyst forecasts on Titan Mining Corporation stock, see the TSE:TI Stock Forecast page.

Spark’s Take on TI Stock

According to Spark, TipRanks’ AI Analyst, TI is a Neutral.

The score is held down primarily by balance-sheet risk (very high leverage and thin equity) and weak technicals (below key moving averages with negative MACD). Improving operating margins and positive operating cash flow provide some support, but the extremely high P/E and recently negative free cash flow keep the overall profile weak.

To see Spark’s full report on TI stock, click here.

More about Titan Mining Corporation

Titan Mining Corporation is a North America-focused mining company that produces zinc concentrate from its Empire State Mines in upstate New York and has emerged as the only end-to-end producer of natural flake graphite in the U.S. The company is expanding into critical minerals, targeting graphite and potential germanium recovery to support U.S. defense, industrial and minerals security supply chains.

Average Trading Volume: 100,141

Technical Sentiment Signal: Buy

Current Market Cap: C$360.7M

For an in-depth examination of TI stock, go to TipRanks’ Overview page.