Las Vegas, NV., April 22, 2024 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce CDSG has entered into a co-production agreement with a company based in Tanzania to recover gold from the processed tailings within the heart of the gold region of Tanzania.
The Company is presently planning a 200 ton per day Carbon in Pulp (“CIP”) processing plant that will serve to initially process 20,000 - 30,000 tons of tailings annually. CDSG has begun sourcing out prefabricated CIP plants that are available. Typically, CIP plant costs include all materials, shipping and construction. Operating costs per gold ounce for the CIP plant is anticipated to be extremely low, between $400 - $500 per ounce, which will allow the company to achieve robust profits per ounce.
The processing project is located in the northwest of Tanzania within a world class region containing many large gold deposits including the Geita mine, operated by AngloGold Ashanti, a deposit which has been in operation for over 50 years and still contains 9.9 Moz of gold resources and the Bulyanhulu mine containing gold, silver and copper operated by Barrick Gold.
Recently, a CIP pilot test program at the site proved very effective in recovering gold at the site. CDSG intends to rapidly develop positive cash flow for the company. Predicted annual operating costs of under $2.0 million could generate over $5 million in positive cash flow which could run for 7 to 10 years.
Harp Sangha, Chairman of CDSG states, “This step into gold production is game changer for the company. The market conditions are excellent for low-cost gold production and nearby to the CIP plant our local geologic team has identified at least 7 other gold targets which will allow us to expand our production efforts in the area.”
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA and The United Republic of Tanzania.
Contact:
Harp Sangha-Chairman
sanghaharp1964@gmail.com
+1-702-595-2247
titanlithiuminc.com
Forward-Looking Statements:
This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company's periodic filings with the Securities and Exchange Commission.
