Trading Update and Board Change (4885Y)
2010年12月23日 - 4:00PM
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RNS Number : 4885Y
Titanium Resources Group Ltd
23 December 2010
Titanium Resources Group Limited
Trading Update and Board Change
23 December 2010: The Board of Titanium Resources Group ("TRG")
today issues a pre-close trading update for the year ending 31
December 2010.
Full year rutile production for 2010 is expected to be
approximately 68 000 tonnes, which is in line with the updated
targets announced in August 2010.
Rutile prices have increased sharply during 2010 with recently
concluded contract prices for approximately 22,000 tonnes of 2011
production being at between 19% and 25% above 2010 average
contracted prices. TRG remains contracted to deliver in 2011
approximately 34,000 tonnes of production against 2010 agreed
delivery contracts.
TRG remains engaged in positive discussions with the Government
of Sierra Leone to complete a definitive agreement regarding the
loan to Sierra Rutile Limited. The Company will make further
announcements when appropriate.
The Strategic Review Committee has completed its first stage of
the strategic review, announced at the interim results. TRG's Board
has reviewed the Committee's recommendations and has approved a
comprehensive set of system and process improvements. The
management team are now developing a plan for implementation.
The Board of the Company also announces today that Mr. Wayne
Malouf will become Non Executive Chairman of the Company with
effect from 31 December 2010 (previously Mr. Malouf was Executive
Chairman). All other Board responsibilities remain unchanged.
ENDS
For further information:
Titanium Resources Limited
Wayne Malouf, Executive Chairman
John Sisay, Chief Executive
Tel: +44 (0) 207 321 0000
Arbuthnot Securities
Nominated Adviser & Broker
Hugh Field
Tel: +44 (0) 20 7012 2000
Aura Financial
Michael Oke / Andy Mills
Tel: +44 (0) 207 321 0000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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