Titan Lithium Inc (OTC:CDSG) announced that it has restructured its earn-in agreement for 100% interest in the Titan 1 and Titan 2 mineral licenses in Tanzania and as a result, it is no longer required to make further cash payments and all claims to net smelter return holdings have been relinquished.
The company said that the restructuring has resulted in a $6,275,000 reduction in payments and the potential ownership of net smelter returns for the company on the projects.
“The Titan Lithium projects are proving to be world-class standouts in both size and grade,” Titan Lithium CEO Craig Alford said in a statement.
“Gaining full ownership of the projects is an enormous step forward for the company and its shareholders."
China Dongsheng International through its wholly owned subsidiary Titan Lithium is a lithium explorer and developer with operations in Nevada, the United States, and the United Republic of Tanzania.
The news sent CDSG's shares 22.4% higher to US$0.05 on Monday morning.
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