08:00 AM EDT, 08/15/2024 (MT Newswires) -- Titan Mining ( TIMCF ) on Thursday said it swung to a second quarter basic earnings per share of US$0.02, having posted a loss of US$0.03 in Q2 2023.

The company showed revenues of near $18 million in Q2 2024, an increase from near $9 million in 2023.

Revenues were higher during the three and six months ended June 30, 2024, "largely due to a positive provisional pricing adjustment in 2024 compared to a negative provisional pricing adjustment that was realized in 2023," as well as lower smelting and refining charges compared to the same period in the prior year.

"During the quarter, ESM (Empire State Mine) operations continued to outperform with respect to safety, production and costs," says President and Chief Executive Officer Don Taylor. "Increased zinc prices for the period coupled with cost-cutting measures and lower smelter treatment charges contributed to improved operating margins and increased revenue helping to build our cash position. Also during the period, underground drilling was successful in expanding the Mud Pond and New Fold resource areas which will be reported in the second half of the year with an updated Life of Mine plan."