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Titanium Sands in trading halt ahead of Mannar Island Project update

The Mannar Island Project is on a 26-kilometre long by 5-kilometre wide sand island joined to the Sri Lankan mainland by a road and rail causeway.

Titanium Sands Ltd - Titanium Sands in trading halt ahead of Mannar Island Project update
Titanium Sands holds five exploration licences in northwest Sri Lanka

Titanium Sands Ltd (ASX:TSL) is in a trading halt ahead of an update on the company’s Mannar Island Project in Sri Lanka.

The trading halt will remain in place until the beginning of trade on Wednesday, July 1, or when an announcement is released to the market, whichever occurs first.

Shares last traded at 4.9 cents and in the period from April 23 have traded in the range of 3.4 cents to 8.3 cents.

Study demonstrates dredging potential

Titanium Sands’ positive scoping study for the Mannar Island Heavy Mineral Sands (HMS) Project in Sri Lanka has revealed the potential for an economically robust, long-life major dredging project.

The study shows the potential for a viable project based on a single dredge, a primary concentrator and a mineral separation plant.

Managing director Dr James Searle said: “The scoping study has indicated the potential for an economically robust long-life project which gives TSL the confidence to examine  more definitive studies expanding the project concept to a second or even third dredge and commensurately larger processing capacities.”

Mannar Island is an ilmenite feedstock project with minor credits from other mineral components and the product is expected to find a ready market with titanium slag and sulphate route pigment producers in the Middle East, Korea, India and China.

Quick facts: Titanium Sands Ltd

Price: 0.058 AUD

ASX:TSL
Market: ASX
Market Cap: $69.38 m
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Titanium Sands scoping study for Mannar Island shows potential for long-life...

Titanium Sands Ltd's (ASX:TSL) managing director Dr James Searle tells Proactive's Andrew Scott the positive scoping study for the Mannar Island Heavy Mineral Sands (HMS) Project in Sri Lanka has revealed the potential for an economically robust, long-life major dredging project. The study...

on 17/6/20

2 min read