Titanium Corp stock soars on rumours of imminent contract
Titanium Corporation [TSXV:TIC] is a Calgary-based environmental technology company with a proprietary process which recovers bitumen, solvent and valuable heavy metals from oil sands tailings. The company has completed successful test-pilots at Syncrude, Suncor and Canadian Natural Resources Limited.
The company received a compelling endorsement from former Blackberry CEO Jim Balsillie during a Vancouver conference last spring, causing the stock price to almost triple. More recently, the company is rumoured to be on the verge of landing a contract with one of the major oil sands miners which would see the installation of full scale recovery plant within the next 2 to 3 years.
Titanium Corporation stock has gained almost 13% this week and 25% in the past month. The stock has more than tripled from the same time last year.