Board Change • Jan 07
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. No experienced directors. 3 highly experienced directors. CEO, MD & Non-Executive Director Donald Searle was the last director to join the board, commencing their role in 2016. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. New Risk • Dec 08
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$14.1m (US$9.33m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$14.1m market cap, or US$9.33m). New Risk • Sep 27
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$1.8m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.8m free cash flow). Share price has been highly volatile over the past 3 months (25% average weekly change). Earnings have declined by 2.5% per year over the past 5 years. Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$16.4m market cap, or US$10.8m). Annuncio • Sep 18
Titanium Sands Limited, Annual General Meeting, Nov 13, 2025 Titanium Sands Limited, Annual General Meeting, Nov 13, 2025. New Risk • Apr 17
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 17% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 3.5% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (17% increase in shares outstanding). Market cap is less than US$100m (AU$16.4m market cap, or US$10.4m). Annuncio • Feb 18
Titanium Sands Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million. Titanium Sands Limited has completed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 125,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Feb 12
Titanium Sands Limited has filed a Follow-on Equity Offering in the amount of AUD 0.5 million. Titanium Sands Limited has filed a Follow-on Equity Offering in the amount of AUD 0.5 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 125,000,000
Price\Range: AUD 0.004
Discount Per Security: AUD 0.00024
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Oct 14
Titanium Sands Limited, Annual General Meeting, Nov 13, 2024 Titanium Sands Limited, Annual General Meeting, Nov 13, 2024. Location: at level 8, 216 st georges terrace, perth wa 6000 Australia New Risk • Sep 28
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.5m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.5m free cash flow). Share price has been highly volatile over the past 3 months (27% average weekly change). Earnings have declined by 4.9% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.85m market cap, or US$6.11m). Minor Risk Shareholders have been diluted in the past year (25% increase in shares outstanding). New Risk • Sep 17
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (29% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.85m market cap, or US$5.96m). Minor Risks Latest financial reports are more than 6 months old (reported December 2023 fiscal period end). Shareholders have been diluted in the past year (25% increase in shares outstanding). New Risk • May 11
New major risk - Market cap size The company's market capitalization is less than US$10m. Market cap: AU$13.3m (US$8.77m) This is considered a major risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Market cap is less than US$10m (AU$13.3m market cap, or US$8.77m). New Risk • May 01
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 57% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Share price has been highly volatile over the past 3 months (26% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Shareholders have been substantially diluted in the past year (57% increase in shares outstanding). Revenue is less than US$1m. Minor Risk Market cap is less than US$100m (AU$15.5m market cap, or US$10.1m). Annuncio • May 01
Titanium Sands Limited has completed a Follow-on Equity Offering in the amount of AUD 1.635127 million. Titanium Sands Limited has completed a Follow-on Equity Offering in the amount of AUD 1.635127 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 218,016,964
Price\Range: AUD 0.0075
Discount Per Security: AUD 0.00045
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing Annuncio • Apr 16
Titanium Sands Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1 million. Titanium Sands Limited has filed a Follow-on Equity Offering in the amount of AUD 2.1 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 280,000,000
Price\Range: AUD 0.0075
Discount Per Security: AUD 0.00045
Security Features: Attached Options
Transaction Features: Subsequent Direct Listing New Risk • Mar 02
New major risk - Financial position The company has less than a year of cash runway based on its current free cash flow trend. Free cash flow: -AU$2.3m This is considered a major risk. With less than a year's worth of cash, the company will need to raise capital or take on debt unless its cash flows improve. This would dilute existing shareholders or increase balance sheet risk. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$2.3m free cash flow). Share price has been highly volatile over the past 3 months (24% average weekly change). Earnings have declined by 3.8% per year over the past 5 years. Revenue is less than US$1m. Minor Risks Shareholders have been diluted in the past year (42% increase in shares outstanding). Market cap is less than US$100m (AU$17.9m market cap, or US$11.7m). Annuncio • Nov 17
Titanium Sands Limited has completed a Follow-on Equity Offering in the amount of AUD 0.409736 million. Titanium Sands Limited has completed a Follow-on Equity Offering in the amount of AUD 0.409736 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 81,947,180
Price\Range: AUD 0.005
Security Features: Attached Options
Transaction Features: Rights Offering Annuncio • Oct 05
Titanium Sands Limited, Annual General Meeting, Nov 29, 2023 Titanium Sands Limited, Annual General Meeting, Nov 29, 2023. Agenda: To consider directors elections. New Risk • Sep 25
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.6m free cash flow). Share price has been highly volatile over the past 3 months (32% average weekly change). Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$10.6m market cap, or US$6.85m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (26% increase in shares outstanding). New Risk • Sep 09
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended December 2022. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risks Less than 1 year of cash runway based on free cash flow trend (-AU$1.6m free cash flow). Share price has been highly volatile over the past 3 months (28% average weekly change). Earnings have declined by 15% per year over the past 5 years. Revenue is less than US$1m. Market cap is less than US$10m (AU$8.56m market cap, or US$5.46m). Minor Risks Latest financial reports are more than 6 months old (reported December 2022 fiscal period end). Shareholders have been diluted in the past year (22% increase in shares outstanding). Annuncio • Jan 17
Titanium Sands Limited Announces Final Results from 2022 Resource Infill & Extension Drilling Titanium Sands Limited announces Final results from the resource infill and extension drilling program completed in August at the Mannar Heavy Minerals Project have been received. These represent analyses of Total Heavy Mineral (THM%) from 1,659 samples from 165 RC aircore drill holes. Results have now been received from all of the 315 holes drilled in the completed program. Results from the program have previously been reported. As previously announced to the market, the planned program was for about 300 holes with a target depth of 12m deep for a total meterage of around 3,600m. The primary objective of the drilling was to convert more of the resource in the high- grade zone from an inferred to indicated mineral resource category by decreasing the RC aircore drill line separation from a nominal 400m to 200m. The program was contained within the 8 square kilometre high grade resource zone as outlined in the initial scoping study. Mineralisation extends from the surface down to depths of up to 12m. This high-grade zone contains a mineral resource of 93Mt at 5.24%THM of which 32% is in the indicated category. It represents 35% of the total current mineral resource estimate for the project of 265Mt at 4.38%THM. The results from this program continue to demonstrate the expected grade continuity and are being used to provide an updated resource statement of this high grade zone that will form the basis for a more advanced scoping study analysis. The updated resource statement is expected to be finalised shortly. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 1 highly experienced director. 1 independent director (2 non-independent directors). Independent Non-Executive Chairman Kevin Christensen was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Oct 19
Titanium Sands Limited Provides an Update on Mannar Island Project Titanium Sands Ltd. confirms that it has received further results from the resource infill and extension drilling program completed in August at its Mannar Island Project. These latest results represent analysis of Total Heavy Mineral (THM %) from a further 702 samples from 60 RCAC drill holes. Of the 315 holes drilled in the completed program THM results have now been received from 128 drill holes. Results from the first 68 holes have previously been reported. All samples are now in the analytical laboratory in South Africa and the remainder of the Total Heavy Mineral (THM) results are being processed as quickly as possible and are expected to be completed over the next 4 to 6 weeks. To expedite incorporating the drilling results into a revised resource statement, mineralogical analyses of the Total Heavy Mineral assemblages are being carried out in batches rather than on completion of all the THM analyses. As previously announced to the market the program consisted of about 300 holes with a target depth of 12m for a total meterage of around 3,600m. The primary objective of the drilling was to convert more of the resource in the high-grade zone from an inferred to indicated mineral resource category by decreasing the RC aircore drill line separation from a nominal 400m to 200m. In addition, 33 holes were drilled beneath a 2 square kilometre high grade resource zone previously only drilled to 2-3m. All except for two of the 33, 12m RC aircore holes in this zone have returned intercepts of 2-9% THM below the shallow resource. Results so far from this program are consistent with the earlier more widely spaced resource drilling. Of the 60 holes in this latest batch of results 57 returned intercepts of greater than 2% THM with heavy minerals down to depths of 12m. The program was contained within the Company's high grade resource zone as outlined in the initial scoping study. This high-grade zone contains a mineral resource of 93Mt at 5.24% THM of which 32% is in the indicated category. It represents 35% of the total current mineral resource estimate for the project of 265Mt at 4.38% THM. The results from this program will be used to provide an updated resource statement of this high grade resource zone that will form the basis for a more advanced scoping study analysis. Annuncio • Oct 18
Titanium Sands Limited, Annual General Meeting, Nov 17, 2022 Titanium Sands Limited, Annual General Meeting, Nov 17, 2022, at 11:00 W. Australia Standard Time. Location: Level 8 216 St Georges Terrace Perth Western Australia Australia Agenda: To receive and consider the annual financial report of the Company for the financial year ended 30 June 2022 together with the declaration of the Directors, the Directors' report, the Remuneration Report and the auditor's report; to consider the adoption of Remuneration Report; to consider the re-election of the directors; and to discuss other matters. Annuncio • Sep 30
Titanium Sands Limited Auditor Raises 'Going Concern' Doubt Titanium Sands Limited filed its Annual on Sep 28, 2022 for the period ending Jun 30, 2022. In this report its auditor, , gave an unqualified opinion expressing doubt that the company can continue as a going concern. Annuncio • Sep 28
Titanium Sands Limited Confirms the Shipment of the Remaining Samples to Conclude the 300 Hole Infill and Extension Drilling Program Completed Titanium Sands Limited confirmed the shipment of the remaining samples to conclude the 300 hole infill and extension drilling program has been completed. Confirmation has been received that the samples have arrived in South Africa. This final shipment now concludes the Mannar Island drilling exploration program, on site laboratory preparation work and channels the Company towards an upgraded mineral resource estimate. The project scoping study will follow shortly thereafter and provide the market with key indicators to the project parameters. In addition, local press in Sri Lanka has reported that the first shipment of mineral sands in over 30 years is ready to be shipped to China from Trincomalee Port. The mineral sands to be exported is from the government owned Lanka Mineral Sands project. The Trincomalee port is the closest port to TSL's project and is a route to China as part of China's "One belt, one road" trade route. Annuncio • Sep 19
Titanium Sands Limited Confirms over 70% of Samples from Completed Drilling Program Have Been Shipped to Reporting Laboratory Titanium Sands Limited confirmed regulatory approvals have been received and shipment of a further 990 samples from Colombo Port Sri Lanka to Cape Town South Africa has occurred. Samples are expected to arrive in South Africa in the coming week. The samples shipped are part of the Company's recently completed RC Air core drilling program in Sri Lanka and will provide an updated and upgraded resource once laboratory analysis has been completed in South Africa. On site preparation of the balance of samples has also been completed signaling the conclusion of all local work on the Mannar Island exploration drilling program. It is expected remaining samples will be shipped to South Africa during the course of this week. Annuncio • Aug 25
Titanium Sands Limited Announces Completion of Mannar Island Drilling Program The Board of Titanium Sands Limited announced completion of the infill and extension resource drilling program at Mannar Island, Sri Lanka. The program consisted of approximately 300 holes for a total meterage of around 3,600m. The primary objective of the drilling was to convert more of the resource in the high-grade zone from a JORC-2012 inferred to indicated mineral resource category by decreasing the RC aircore drill line separation from a nominal400m to 200m. A secondary objective was to drill 12m deep holes beneath a 2.2km sq. area of the high-grade zone resource only previously tested by shallow auger drilling down to 2-3m below surface. The program was completed under the management of the Geological Survey and Mines Bureau technical services division ("GSMBTS") using TSL's reverse circulation air-core drilling rig. The program was contained within the company's high grade resource zone as outlined in the initial scoping study. This high-grade zone contains a mineral resource estimate2 of 93Mt at 5.24%THM of which 32% is already in the indicated category. It represents only 35% of the total current mineral resource estimate for the project of 265Mt at 4.38%THM. As reported, sample preparation in the Company's on site laboratory is ongoing. Once prepared, shipment of samples to the reporting laboratory in South Africa will occur. Approximately 45% of the program samples have already been shipped and the balance are expected to leave Colombo in the coming weeks as the onsite laboratory work concludes. Analytical laboratory determinations of Total Heavy Mineral content of samples are expected to be completed by the end of October2022.Results from the first 68 drill holes have already been received and reported on with all holes returning significant heavy mineral intercepts of up to 11m at over 8% Total Heavy Minerals (THM)and with individual samples returning values in excess of 20% THM. An updated resource estimate will follow allowing for a revision of the project' scoping study. The scoping study will provide a detailed analysis of the numbers and scale of the project for the market to consider. Annuncio • Aug 24
Titanium Sands Limited Announces Further Samples Shipped to Laboratory in South Africa Titanium Sands Limited announced that regulatory approvals have been received and shipment of a further 702 samples from Colombo Port, Sri Lanka to Cape Town, South Africa has occurred. Samples are expected to arrive in South Africa in the coming week. The samples shipped are part of the Company's RC Air core drilling program in Sri Lanka being managed by the Geological Survey and Mines Bureau Technical Services Division. Sample preparation by GSMBTS was completed in the Company's onsite laboratory and shipment to the reporting laboratory in South Africa will allow for heavy mineral analysis, the results of which will partly form the basis of the updated resource estimate for the project. The balance of samples are expected to be shipped in the coming weeks as the onsite laboratory work concludes. Annuncio • Aug 02
Titanium Sands Limited announced that it expects to receive AUD 1.5 million in funding Titanium Sands Limited announced that it will issue 136,363,637 ordinary shares at a price of AUD 0.011 per share for gross proceeds of AUD 1,500,000 on August 2, 2022. The transaction will include participation from sophisticated investors. The company will issue 2 free attaching unlisted options subject to shareholder approval, exercisable at AUD 0.023 and expiring 3 years from the date of issue for every share subscribed, being a total of 272,727,274 options. The transaction is expected to close on August 5, 2022. The issuance of options is subject to approval from shareholders of the company. Annuncio • Jun 14
Titanium Sands Limited Provides the Update in Relation to TSL's Sri Lankan Mineral Sands Project Titanium Sands Limited provided the update in relation to TSL's Sri Lankan Mineral Sands Project. On advice from the Ministry of Environment, TSL has commenced the application process of converting TSL's five principal exploration licenses ("EL's"), to mining licences under the Sri Lankan mining and exploration statutory framework by lodging with the GSMB what they define as final resource and technical reports for the EL's. These reports are in addition to the regulatory six- monthly progress reports which have also been lodged on time and as required at the GSMB. The next step in the process to grant mining licences is for TSL to provide and make in person a presentation of the final resource and technical reports to the GSMB. No date has been presently fixed for the presentation, however it is anticipated this will occur in the coming weeks. TSL has commenced the last part of its infill drilling exploration program that is required in order to be able to increase the resource from the Inferred to Indicated category, as required by the ASX in order to be able to prepare and release a Scoping Study for the Mineral Sands Project. The infill drilling program remains under management of the Geological Survey and Mines Bureau Technical Services Division ("GSMBTS"), utilizing TSL's reverse circulation aircore drilling rig. In addition, an Australian drilling consultant is presently in Sri Lanka providing oversight and training of the drilling team. The Company also wishes to convey its support to the newly appointed Prime Minister and Cabinet Ministry in difficult times. TSL will work closely with the Government on promoting the project in Sri Lanka and worldwide. Projects of a similar nature in other countries have generated recurring revenue to the National Accounts via Project Royalties and Government Levys on exports once the projects were in operation. These projects have also created local job opportunities and injected significant capital and operating expenditure into the various countries. Internal Company feasibility documents suggest the TSL Sri Lankan Project could offer similar benefits to the country should it become permitted and fully operational. Board Change • Apr 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Chairman Kevin Christensen was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Jan 29
Titanium Sands Ltd Provides Update on Resource Infill and Extension Drilling Program The Board of Titanium Sands Ltd. announced that the resource infill and extension drilling on TSL's heavy mineral project is progressing well with 74 of the 304 planned holes completed totalling circa 24% of the program. As announced the drilling program is being managed by the Sri Lankan Geological Survey and Mines Bureau Technical Services Division ("GSMBTS") using TSL's reverse circulation/aircore drilling rig. All 74 holes drilled so far in this current program have reached the target depth and visual logging has observed concentrations of heavy minerals throughout consistent with previous drilling. Although the drilling program is progressing well, it is tracking slightly behind schedule mainly due to inclement weather and seasonal rains which have hampered timing. its drill team have implemented a plan to make up for lost time where possible. A revised completion date will be provided by GSMBTS shortly. As previously announced to the market the primary objective of the drilling will be to convert more of the resource in the high- grade zone from an inferred to indicated mineral resource category by decreasing the RC aircore drill line separation from a nominal 400m to 200m. The high-grade zone contains a mineral resource of 93Mt at 5.24%THM of which 32% is in the indicated category. It represents 35% of the total current mineral resource estimate for the project of 265Mt at 4.38%THM. An updated resource estimate will follow allowing for a revision of the project's scoping study and will assist the Company's proposed mining license application process. Sample preparation processing is ongoing in the on site laboratory facilities under independent supervision prior to consignment to a mineral sands laboratory in South Africa for heavy mineral analysis. The first 432 samples are awaiting regulatory export approval. Separately, the Company has taken the precautionary step to close the laboratory for 10 days due to a positive COVID test returned on one of its team. TSL have appointed an additional GSMBTS geologist to assist with making up the time once the laboratory is reopened. Annuncio • Jan 11
Titanium Sands Limited Announces Resource Infill and Extension Drilling on TSL's Heavy Mineral Project Titanium Sands Limited announced that the resource infill and extension drilling on TSL's heavy mineral project is progressing well with 38 of the 300 planned holes completed. The drilling is being managed by the Sri Lankan Geological Survey and Mines Bureau Technical Services Division ("GSMBTS") using TSL's reverse circulation/aircore drilling rig. As previously announced to the market the program consists of about 300 holes for a total meterage of around 3,600m. The primary objective of the drilling will be to convert more of the resource in the high-grade zone from an inferred to indicated mineral resource category by decreasing the RC/aircore drill line separation from a nominal 400m to 200m. A secondary objective is to drill 12m deep holes beneath a 2.2km2 area of the high-grade zone resource, only tested by shallow auger drilling down to 2-3m below surface. The program is contained within the Company's high grade resource zone as outlined in the initial scoping study. This high- grade zone contains a mineral resource3 of 93Mt at 5.24% THM of which 32% is in the indicated category. It represents 35% of the total current mineral resource estimate for the project of 265Mt at 4.38% THM. All 38 holes drilled so far in this current program have reached the target depth of 12m. Visual logging has observed concentrations of heavy minerals throughout, consistent with previous drilling. In addition to the 38 holes, 33 have been drilled beneath the 2km2 high grade resource zone previously only drilled down to 2 to 3m and have shown in visual logging to contain significant heavy mineral concentrations down to the 12m target depth. Sample preparation processing has commenced in the on site laboratory facilities under independent supervision prior to consignment to a mineral sands laboratory in South Africa for heavy mineral analysis. An updated resource estimate will follow allowing for a revision of the project's scoping study and will assist the Company's proposed mining license application process. Board Change • Jan 05
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. No highly experienced directors. 1 independent director (2 non-independent directors). Independent Non-Executive Chairman Lee Christensen was the last independent director to join the board, commencing their role in 2015. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Annuncio • Jan 04
Titanium Sands Limited Confirms Infill and Extension Drilling Exploration Program on TSL's Heavy Mineral Project in Sri Lanka The Board of Titanium Sands Limited confirmed the infill and extension drilling exploration program on TSL's heavy mineral project in Sri Lanka has commenced under the management of the Geological Survey and Mines Bureau Technical Services Division. As announced to the market the program will consist of about 300 holes for a total meterage of around 3,600m. The primary objective of the drilling will be to convert more of the resource in the high-grade zone from an inferred to indicated mineral resource category by decreasing the RC aircore drill line separation from a nominal 400m to 200m. A secondary objective will be to drill 12m deep holes beneath a 2.2km2 area of the high-grade zone resource only tested by shallow auger drilling down to 2-3m below surface. The program will be within the Company's high grade zone as outlined in the initial scoping study. The existing high-grade zone contains a mineral resource1 of 93Mt at 5.24% THM of which 32% is in the indicated category. This high-grade zone represents only 35% of the total current mineral resource estimate for the project of 265Mt at 4.38% THM. The drilling program is expected to take up to 7 weeks from commencement date however conclusion of the drilling program is expected by 11 February 20222. Processing of samples through the Company's on-site sample preparation facilities will be undertaken concurrently with the drilling. Analytical laboratory determinations of Total Heavy Mineral content of samples is expected to be completed around the end of February 2022. An updated resource estimate will follow allowing for a revision of the project's scoping study and will assist the Company's proposed mining license application process. 
