Titan Uranium Inc

Titan Uranium is a junior uranium explorer and developer headquartered in West Vancouver, British Columbia. With projects in Wyoming, Utah, Nunavut and Saskatchewan, Titan is positioned in some of the best areas possible for U3O8. With 13 subprojects, the Athabasca Basin project is strategically located in an area where 20% of the world's uranium is produced.



The Sheep Mountain project (a past producing mine), which is 100% owned, has a complete prefeasibility study and a 30,400,000lbs eU3O8 indicated mineral resource that was upgraded using the grade times thickness contour method. This resource is up from last year's report of 14,200,000lbs of eU3O8 (a 90% increase!)



Trading at $0.27 the market cap is close to $42 million. The recent trend shows that the downtrend has likely lost steam and found a bottom, the 50 day moving average just above 50 cents with the 200 day at 34.5 cents. I took a position yesterday right around $0.26. Downside from these levels is very limited.



A weekly view of Titan, which trades as TUE.V on the TSX and TUEFF on the pink sheets, with the fibonacci drawn on the broader correction shows resistance at $0.63.