07:21 AM EDT, 04/16/2024 (MT Newswires) -- Titan Mining ( TIMCF ) , which saw its shares drop 11% yesterday, said on Tuesday a US$10 million bridge loan from the company's largest shareholder, Augusta Investments .

The loan has already been used to repay part of the Titan's credit facility with the National Bank of Canada, bringing the outstanding amount down to $17.2 million from $27.2 million, Titan said. Augusta and Titan are still negotiating the terms of the loan and of the US$5 million advance made by Augusta earlier this year.