Core Insights - Titan Mining Corporation is establishing the first domestic end-to-end natural graphite supply chain in the U.S. in over seventy years, which is significant for defense and high-tech applications [3][21] - The company reported record zinc production and is advancing the Kilbourne Graphite Project towards commercial development [3][5] Financial and Operational Performance - Zinc production reached 18.7 million payable pounds in Q4 2025 and 64.3 million payable pounds for the full year, an 8% increase from FY 2024 [5] - Revenues for Q4 2025 were $25.1 million, totaling $74.3 million for the full year, a 16% increase from $64.3 million in 2024 [5] - C1 cash costs were $0.88/lb in Q4 2025 and $0.92/lb for the full year, at the lower end of guidance [5] - AISC was $0.96/lb in Q4 2025 and $0.98/lb for the full year, also at the lower end of guidance [5] - Operating cash flow was $5.5 million in Q4 2025 and $12.6 million for the full year [5] - The cash balance at year-end was $17.5 million, a 72% increase from 2024 [5] Kilbourne Graphite Project - The Preliminary Economic Assessment confirmed robust project economics with an after-tax NPV (7%) of $513 million and a post-tax IRR of 37% [6] - The commissioning of the graphite demonstration facility began in Q4 2025, with initial shipments of graphite concentrate in Q1 2026 [6][9] - A fully funded Feasibility Study for a 40,000 mt pa facility was launched in early 2026 [6] Strategic Developments - A $15.8 million EXIM credit agreement was finalized to support ESM expansion, along with an additional $5.5 million amendment for feasibility work at Kilbourne [6] - The company identified Germanium concentrations within the existing ESM zinc processing circuit, with recovery pathways under evaluation [6] - Titan expanded its mineral tenure to over 120,000 acres and advanced exploration programs during 2025 [6] Capital Markets and Financial Position - The company listed common shares on the NYSE American, improving share liquidity, and closed a $15 million private placement [6] - Titan has the flexibility to raise up to $150 million over 25 months through a $50 million at-the-market program [6]