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Titan Lithium Inc. (OTC Markets: CDSG) announced positive soil geochemical sample results from its Titan 2 lithium property in Tanzania. The new results finalize a 3,950-acre geochemical sample grid, previously partially reported on March 19, 2023. Over half of the grid area exhibited significant lithium values, averaging 1.11% Li2O (4,486 ppm Lithium), with a peak value of 2.28% Li2O (10,600 ppm Li). The Titan 2 project, located near the Titan 1 claim group, is within a fault-bounded structure conducive to lithium accumulation. The anomaly covers 2,090 acres and has a favorable comparison to Thacker Pass mine's average grade. CEO Craig Alford highlighted the results as exceptional, indicating plans for further exploration and drilling. Samples were analyzed by the ISO 9001 certified African Minerals and Geosciences Centre in Dar es Salaam.
Titan Lithium Inc. (OTC Markets: CDSG) announced a corporate update on April 17, 2023, highlighting the completion of two years of PCAOB qualified year-end financial statements.
Following this, CDSG plans to file a Registration Statement on Form 10 with the SEC by the end of April to register its common stock. This filing will detail the company's strategy and historical financial data, subjecting CDSG to reporting requirements under the Securities Exchange Act of 1934.
Chairman Harp Sangha emphasized the benefits of SEC registration, including increased visibility, better access to capital markets, and improved liquidity. The company asserts the discovery of significant lithium resources and expresses optimism about its operations in Tanzania, especially in light of recent U.S. government interest in challenging China's market dominance for battery metals.
Titan Lithium Inc. (OTC Markets: CDSG) announced new economic initiatives between the U.S. and Tanzania following Vice President Kamala Harris's visit to Dar es Salaam. This visit resulted in a memorandum of understanding between the Export-Import Bank of the United States and the Tanzanian government, facilitating up to $500 million in financing for U.S. companies in sectors like clean energy and infrastructure. The initiatives aim to enhance economic ties and showcase Tanzania's role in the electric vehicle (EV) battery market, with plans for the country to establish a mineral processing facility for global EV supply.