Latest news with #Titan
Hamilton Spectator
8 hours ago
- Business
- Hamilton Spectator
Titan Mining Closes Landmark US$15.8M Credit Agreement with US EXIM
GOUVERNEUR, New York and VANCOUVER, British Columbia, July 22, 2025 (GLOBE NEWSWIRE) — Titan Mining Corporation (TSX: TI; OTCQB: TIMCF) ('Titan' or the 'Company') is pleased to announce that its wholly owned subsidiary, Empire State Mines, LLC ('ESM'), has entered into a definitive credit agreement (the 'EXIM Facility') with the Export-Import Bank of the United States ('EXIM'). The EXIM Facility provides funding of up to US$15.8 million towards critical capital development supporting current operations and planned expansion at ESM's underground zinc mine in St. Lawrence County, New York. This transaction marks EXIM's first direct mining investment under its Make More in America Initiative ('MMIA'), underscoring the strategic importance of domestic critical mineral production. Titan is proud to partner with EXIM in advancing U.S. supply chain security. Highlights: Don Taylor, CEO of Titan commented: 'This financing from EXIM Bank directly supports our operational growth strategy at Empire State Mines. It allows us to continue to invest in critical capital infrastructure and positions ESM for long-term operational success. We are excited to build on the solid foundation at ESM while creating high-quality jobs in upstate New York.' Rita Adiani, President of Titan commented: 'Securing long-term, competitive financing from US-EXIM validates the strength of our U.S. asset base and the critical role domestic mining plays in supporting American manufacturing and supply chain resilience. This facility also establishes a foundation for a broader partnership with EXIM as we advance our graphite strategy and contribute to U.S. critical minerals independence.' The EXIM Facility is guaranteed by Titan and its subsidiaries, with proceeds directed towards enhancing ESM's long-term production capacity and is secured by a general charge on personal property. The EXIM Facility demonstrates the Company's commitment to responsible growth and securing competitive financing to develop its U.S. operations. Titan has also entered into a credit agreement (the 'Augusta Facility') dated July 21, 2025, with Augusta Investments Inc. ('Augusta'), a company owned by Mr. Richard Warke, Titan's Executive Chairman, providing terms for three advances previously made by Augusta in 2024 aggregating US$16.5 million. Of these advances, US$15.0 million was used to settle principal payments owing on the Company's credit facility with National Bank of Canada and US$1.5 million was used to assist with funding the Company's cash deposit required in connection with the Company's then outstanding fixed price zinc contract. The Augusta Facility will bear interest at a rate of 8% per annum from the date of the Augusta Facility through to maturity. Interest will be capitalized from the date of the Augusta Facility until December 31, 2025, after which interest will be paid monthly in cash. The principal and capitalized interest will be repaid in three instalments according to the following schedule, provided Titan is in compliance with its financial covenants: The Augusta Facility is secured by a general charge on personal property subordinated to the interests of EXIM. Mr. Warke is considered a 'related party' of the Company, and the Augusta Facility constitutes a 'related party transaction' within the meaning of Multilateral Instrument 61-101 Protection of Minority Security Holders in Special Transactions ('MI 61-101'). The Augusta Facility is exempt from the minority approval requirements of MI 61-101 under Section 5.7(1)(f) of MI 61-101 as the Augusta Facility has been obtained under reasonable commercial terms and is not convertible or repayable in equity or voting securities of the Company. The Augusta Facility is not a transaction that requires a valuation under Section 5.4(1) of MI 61-101. To the knowledge of the Company or any director or senior officer of the Company, after reasonable inquiry, no 'prior valuations' (as defined in MI 61-101) in respect of the Company that relate to the Augusta Facility, or are relevant to the Augusta Facility, have been prepared within 24 months preceding the date hereof. Mr. Warke disclosed to the Company and its board that he had an interest in the Augusta Facility by virtue of being the owner of Augusta. All of the terms and conditions of the Augusta Facility were reviewed and unanimously approved by the Company's board, with Mr. Warke abstaining due to his interest in the Augusta Facility. About Titan Mining Corporation Titan is an Augusta Group company which produces zinc concentrate at its 100%-owned Empire State Mine located in New York state. Titan is also an emerging natural flake graphite producer and targeting to be the USA's first end to end producer of natural flake graphite in 70 years. Titan's goal is to deliver shareholder value through operational excellence, development and exploration. We have a strong commitment towards developing critical minerals assets which enhance the security of the domestic supply chain. For more information on the Company, please visit our website at Contact For further information, please contact: Investor Relations: Email: info@ Cautionary Note Regarding Forward-Looking Information Certain statements and information contained in this new release constitute 'forward-looking statements', and 'forward-looking information' within the meaning of applicable securities laws (collectively, 'forward-looking statements'). These statements appear in a number of places in this news release and include statements regarding our intent, or the beliefs or current expectations of our officers and directors, including significant deleveraging and enhanced working capital projected by year-end 2025; that ESM will be able to achieve long-term operational success; and that Titan will be creating high quality jobs in upstate New York. When used in this news release words such as 'to be', 'will', 'planned', 'expected', 'potential', and similar expressions are intended to identify these forward-looking statements. Although the Company believes that the expectations reflected in such forward-looking statements and/or information are reasonable, undue reliance should not be placed on forward-looking statements since the Company can give no assurance that such expectations will prove to be correct. These statements involve known and unknown risks, uncertainties and other factors that may cause actual results or events to vary materially from those anticipated in such forward-looking statements, including risks relating to cost increases for capital and operating costs; risks of shortages and fluctuating costs of equipment or supplies; risks relating to fluctuations in the price of zinc and graphite; the inherently hazardous nature of mining-related activities; potential effects on our operations of environmental regulations in New York State; risks due to legal proceedings; risks related to operation of mining projects generally and the risks, uncertainties and other factors identified in the Company's periodic filings with Canadian securities regulators. Such forward-looking statements are based on various assumptions, including assumptions made with regard to our forecasts and expected cash flows; our projected capital and operating costs; our expectations regarding mining and metallurgical recoveries; mine life and production rates; that laws or regulations impacting mining activities will remain consistent; our approved business plans; our mineral resource estimates and results of the PEA; our experience with regulators; political and social support of the mining industry in New York State; our experience and knowledge of the New York State mining industry and our expectations of economic conditions and the price of zinc and graphite; demand for graphite; exploration results; the ability to secure adequate financing (as needed); the Company maintaining its current strategy and objectives; and the Company's ability to achieve its growth objectives. While the Company considers these assumptions to be reasonable, based on information currently available, they may prove to be incorrect. Except as required by applicable law, we assume no obligation to update or to publicly announce the results of any change to any forward-looking statement contained herein to reflect actual results, future events or developments, changes in assumptions or changes in other factors affecting the forward-looking statements. If we update any one or more forward-looking statements, no inference should be drawn that we will make additional updates with respect to those or other forward-looking statements. You should not place undue importance on forward-looking statements and should not rely upon these statements as of any other date. All forward-looking statements contained in this news release are expressly qualified in their entirety by this cautionary statement.
Economic Times
10 hours ago
- Business
- Economic Times
Anshul Saigal sees re-rating potential in Eternal amid margin surprise
"But generally, we say in the markets that they climb a wall of worry. And if you look around, there's been a fair bit of scepticism built into the markets," says Anshul Saigal, Founder, Saigal Capital. ADVERTISEMENT Eternal – I mean, the stock moved up yesterday as well, and right now it's almost clocking a 10% move. Anshul Saigal: Yes, Eternal and the entire space have surprised positively. What has really happened is that there was an expectation of margin contraction due to higher costs, particularly in the quick commerce segment. But in that very segment, we've seen margin expansion for the company, which suggests that competitive intensity seems to be easing. At least, that's what the market is interpreting based on the results. And if that's the case, given the growth – which is close to 130% – it looks like the stock has room for re-rating. It has been meaningfully de-rated in recent times, not just this stock but the entire space. Of course, there's another large player whose results are awaited, so we'll have to wait and see. But the market is already reading into that company's likely performance based on Eternal's results. That's the way to look at this space. What's your take on the overall market sentiment? Apart from a few earnings candidates that have seen adverse reactions, markets overall seem steady and are finding their footing again around the 25,000 to 25,200 mark. Where do you see the market heading from here, considering that surprises like Eternal's are one-offs? What's the broader sentiment this earnings season? Anshul Saigal: The earnings season has been quite mixed. If you look at banking, Axis delivered weak results, but ICICI reported strong numbers. Many PSU banks and private banks have shared optimistic forward-looking commentary. So yes, the results are mixed. Even in the consumer durables segment – while cables and wires have done well, electrical consumer durable (ECD) companies haven't performed as strongly. So, the market reaction has been varied. But generally, we say in the markets that they climb a wall of worry. And if you look around, there's been a fair bit of scepticism built into the markets. Until recently, mutual funds were holding 7% to 8% cash, which has now come down as they've started investing, seeing the market trend. Even when you talk to market participants, there's a sense of caution. That tells you valuations aren't overextended — there's a fair amount of doubt already priced in. And that, combined with reasonably strong earnings, indicates strength in the markets. How do you view Titan's expansion into the GCC market? Anshul Saigal: That region has a large Indian population, and most Indians are already familiar with Titan and Tanishq as brands. Damas is also a prominent name in that region. The combination of the two should work well and expand the market base for the company. That said, Titan trades at premium valuations, so there may not be much room for error in this name. The company would have to demonstrate consistent growth for the upside to play out. But purely as an academic assessment, the combination seems quite reasonable. ADVERTISEMENT Do you think that after ICICI Bank and HDFC Bank's results, there's now a clearer distinction in how smaller banks will perform? Are we moving towards a scenario where the large banks will only get larger? Anshul Saigal: Broadly, what you're saying is correct – the large are going to get larger. Take HDFC Bank for example – at a 15% annual growth rate, they add the size of a smaller bank to their balance sheet every year. They're already big, and their scale ensures they'll continue expanding. ADVERTISEMENT However, some of the smaller banks that operate in specific niches can still do reasonably well. Either because the large banks don't compete in those niches or because these smaller banks have better reach in those segments. So, it's not like they'll be wiped out. Some strong players will continue to emerge among smaller banks, while others might struggle. But yes, the larger banks will capture a substantial share of the market going forward – that much is clear.
Business Standard
10 hours ago
- Business
- Business Standard
Titan Company rises after inking deal to acquire Damas Jewellery to expand GCC presence
Titan Company added 1.40% to Rs 3481.20 after the company announced that it has entered into an agreement for acquiring 67% shareholding in Damas LLC (UAE), the current holding company for Damas jewellery business in GCC countries. In a regulatory filing made post market hours yesterday, the company informed that Titan, through its wholly owned subsidiary Titan Holdings International FZCO (Titan Holdings), has entered into an agreement for the sale and purchase of shares, to acquire 67% stake in Damas LLC (UAE), the current holding company for Damas jewellery business in GCC countries from Mannai Corporation. The current Graff Monobrand Franchisee business of Damas LLC will be discontinued before completion of the proposed transaction. The consideration for the proposed transaction is arrived on the basis of the enterprise value of AED 1,038 million. On the completion of this acquisition. Titan Holdings would hold 67% of the equity share capital and voting rights in Damas LLC and a path to acquire the balance 33% stake from Mannai after 31 December 2029, subject to conditions agreed upon in the definitive document. The proposed transaction is strategically significant for Titans jewellery business as it will facilitate the expansion across the 6 GCC countries of UAE, Saudi Arabia, Qatar, Oman. Kuwaij and Bahrain. The region is exhibiting robust economic growth creating a demand for differentiated, high quality offerings rooted in Arabian aesthetic and appealing to sophisticated clientele seeking unique, culturally resonant designs. Dubai-based Damas Jewellery stands as Middle Easts premier jewellery retailer. With a network presence of 146 stores across the 6 GCC countries, Damas today, houses a rich and curated portfolio of in-house collections alongside prestigious international labels. C.K. Venkataraman, managing director of Titan, said: After successfully establishing Tanishq in the GCC countries and the USA, our ambition for a global jewellery play is moving to the next stage. With the Damas acquisition, Titan Company is stepping out from its diaspora focus into other nationalities and ethnicities. Damas is a prestigious brand revered in the GCC markets for its product innovation, quality and customer experience. The brands rich legacy and strong presence in the GCC region align perfectly with our vision to deliver exceptional value to customers through iconic, consumer-focused businesses. The acquisition not only creates a significant new global opportunity for Titan, but also enhances Titan's overall position in the jewellery market in the GCC countries and brings in multiple synergy benefits in talent, retail networks and supply chain." Titan Company is a joint venture between the Tata Group and the Tamilnadu Industrial Development Corporation (TIDCO). The company diversified into Jewellery (Tanishq) and subsequently into the eye care segment. The companys consolidated net profit jumped 12.97% to Rs 871 crore in Q4 FY25 as compared with Rs 771 crore in Q4 FY24. Revenue from operations increased 23.76% year-on-year to Rs 13,897 crore in Q4 FY25.
Arabian Post
12 hours ago
- Business
- Arabian Post
Titan Expands Middle East Reach with Damas Deal
Arabian Post Staff -Dubai Titan Company has struck a deal to acquire a 67% stake in Dubai-headquartered luxury jeweller Damas from Qatar-based Mannai Corporation in a transaction valued at 1.04 billion dirhams, or approximately $283.2 million. The move is poised to significantly strengthen Titan's footprint in the Gulf region, positioning the Tata Group company among the largest subcontinent-origin jewellery players operating in the Middle East. The acquisition agreement, announced on Monday, marks a pivotal expansion for Titan beyond its current presence in the UAE, where it has operated under the Tanishq brand since October 2020. The transaction is expected to close by 31 January 2026, subject to regulatory approvals and customary closing conditions. Titan will also retain an option to purchase the remaining 33% equity in Damas after 31 December 2029, effectively laying the groundwork for full ownership over time. ADVERTISEMENT The deal will give Titan direct access to Damas' well-established network of 146 outlets across the six Gulf Cooperation Council nations — United Arab Emirates, Saudi Arabia, Qatar, Oman, Kuwait, and Bahrain. With only seven Titan-operated Tanishq stores currently open in the region, the acquisition presents a strategic leap in scale, market share, and regional brand visibility for the Bengaluru-based jeweller. Damas, founded in 1907, is one of the most recognisable names in the Middle East's luxury jewellery market. It has developed a reputation for catering to the region's taste for high-end gold and diamond jewellery, and is known for its broad in-house product range and partnerships with international luxury brands. Mannai Corporation, which has owned Damas since 2012, has been looking to streamline its portfolio, prompting the divestment. For Titan, the acquisition offers both a fast-track into the premium Gulf retail market and an opportunity to accelerate synergies across procurement, branding, and customer experience. The company is expected to retain Damas' brand identity and existing management structure, allowing the Dubai-based business to continue leveraging its established reputation while benefitting from Titan's supply chain and operational expertise. The Middle East has been a target market for Titan's international ambitions, driven by the strong presence of the South Asian diaspora and a deep-rooted cultural affinity for gold. The GCC region's jewellery market is estimated to be worth over $10 billion, with gold accounting for a large share of consumer demand. Analysts view Titan's acquisition of Damas as a strategically sound move in an environment where cross-border consolidation is becoming increasingly common in luxury retail. Titan has grown to become one of the most dominant jewellery retailers in South Asia through its flagship brand Tanishq, which is positioned as an accessible luxury label offering a blend of traditional and contemporary designs. The company also operates sub-brands such as Mia and Zoya, each catering to specific consumer segments. Over the past decade, Titan has expanded into new domestic categories and entered select global markets, but the Damas deal marks its most ambitious international push yet. ADVERTISEMENT The acquisition is being viewed by market observers as a significant play within the broader Tata Group strategy of boosting global brand equity across consumer-facing businesses. Following the group's international expansions in hospitality, automotive, and technology, Titan's move consolidates Tata's multi-sectoral presence in the Gulf and taps into a region with rising demand for premium lifestyle offerings. Financial analysts have underscored the deal's strategic value, citing Damas' established customer base and premium positioning, which could drive faster break-even timelines than greenfield expansion. Furthermore, the GCC's favourable demographic trends and consistent gold demand have added to investor optimism around the deal's long-term prospects. Despite geopolitical uncertainty and fluctuations in gold prices, jewellery retail in the Gulf continues to enjoy high volumes due to cultural norms and steady tourist inflows, especially in the UAE. Titan's increased footprint through Damas will place it in a better position to cater not just to residents but also international shoppers across the region's major commercial and tourist hubs. Titan has confirmed that the acquisition will be funded through internal accruals and debt, with no equity dilution expected in the near term. The company's board has approved the investment, and the transaction is aligned with its long-term capital allocation strategy. Executives at Titan have expressed confidence in Damas' future growth trajectory and have indicated that the company will invest further in marketing, store refurbishment, and digital initiatives to modernise the customer journey. Damas' product portfolio, which includes bridal sets, heritage pieces, and limited-edition designs, will remain intact as Titan aims to preserve the local flavour while infusing global best practices.
Time of India
12 hours ago
- Entertainment
- Time of India
Honey Singh's ‘Yo Yo Watches' just dropped in Dubai, the story behind it might surprise you
Honey Singh unveils Yo Yo Watches in Dubai, combining luxury design with a personal story/ Image Composite: @yoyohoneysingh TL;DR Honey Singh launches his first luxury watch brand, Yo Yo Watches , in Dubai. The limited-edition line is made in partnership with Titan and Dubai-based Opul. The launch reflects his personal journey and deep connection to the city. Honey Singh just dropped something new, and this time, it's not a track. The Indian rapper, best known for hits like Desi Kalakaar and Brown Rang, has stepped into the world of fashion and lifestyle with 'Yo Yo Watches,' a limited-edition luxury watch line. Launched in Dubai on July 18, 2025, the brand is a collaboration with Indian watchmaker Titan and Dubai's lifestyle label Opul. But this isn't just a celebrity collab for clout. For Singh, it's personal. He's lived in Dubai, performed across the city, and even shot music videos here. After years of highs, lows, and reinvention, Singh is tying his brand to something that's shaped him deeply: time. As he wrote on social media, 'Time is always mine.' The collection is a collaboration with India's Titan and Dubai-based lifestyle label Opul. These aren't mass-market timepieces. They're limited-edition watches, designed for a younger generation that values individuality and presence and yes, a bit of swagger. About the Watches: Style Meets Statement Yo Yo Watches was launched with a clear intention, to blend quality craftsmanship with a narrative. Made in partnership with Titan, and designed alongside Dubai's Opul, the watches carry a sharp, modern aesthetic. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Top 15 Most Beautiful Women in the World Undo The bold, premium look is built perfectly for this stylish generation. The line features pieces for both men and women. Each watch is built with attention to detail and created in limited quantities, adding a sense of exclusivity. It's not just about luxury for luxury's sake, it's about identity, time, and legacy. Why Dubai Was the Natural Choice For the 42-year-old singer, launching Yo Yo Watches in Dubai wasn't just about finding a flashy location. It was about connection and perfect comeback. He's spent years coming back to Dubai, for concerts, shoots, and eventually, a home. Singh owns a property on Palm Jumeirah, one of the city's most exclusive areas. But more than the luxury, he says it's the spirit of the place that resonates. Singh has often spoken about Dubai's sense of unity, a place where people from all backgrounds live together with ease. He's spoken about the city's openness and how welcomed he's always felt there, which makes it a fitting launchpad for his new venture. His social media post said it simply: 'YoYo watches Dubai launch was amazing thank u everyone God is Great.' What stands out isn't just the design or exclusivity. It's the message behind it. Singh says the line is about survival, identity, and time, a nod to his own comeback and constant reinvention. Still Making Music Even with the launch of his brand, Honey Singh hasn't taken a break from music. His newest single 6AM premiered on YouTube just last week and is already pulling in huge numbers, over 16.5 million views and climbing. It's currently trending at #9 on YouTube's music charts. The song carries the energy fans expect from Singh, but the timing of its release, just days before the launch of his watch line, feels intentional. Music and business are now part of the same rhythm. FAQ 1. Where can I buy Yo Yo Watches? The watches are available globally and were launched in Dubai. Details on retail partners or online availability are expected soon. 2. Are the watches unisex? Yes. The collection includes styles for both men and women, with a modern, premium look. 3. Is this Singh's first business outside music? While Singh has done brand partnerships before, Yo Yo Watches is his first self-branded lifestyle venture.
