Brief: Norsk Titanium Q3 2022 Update

Norsk Titanium AS

26/10/2022 06:10

Oct 26 (Reuters) - Norsk Titanium AS  NTI.OL :
    * Q3 2022 UPDATE - SIGNIFICANT PROGRESS TOWARDS 2022
MILESTONES
    * CONTINUE TO MAINTAIN 100% ON-TIME DELIVERIES TO TIER-ONE
BOEING
SUPPLY CHAIN CUSTOMERS ON BOEING 787 PROGRAM
    * WE CONTINUE TO DRIVE TO OUR REVENUE TARGET OF USD 15
MILLION IN
2023 AND USD 150 MILLION IN 2026
    * GENERATED REVENUE FROM PARTS OF USD 0.47 MILLION IN Q3 OF
2022
    * Q3 AVERAGE MONTHLY CASH BURN RATE OF USD 1.89 MILLION A
DECREASE
FROM USD 2.16 MILLION IN SAME PERIOD LAST YEAR
    * WITH AN ENDING CASH BALANCE OF USD 6.00 MILLION, NORSK
TITANIUM
EXPECT TO FUND OPERATIONS TO END OF 2022.
    * WILL SEEK TO RAISE ADDITIONAL CAPITAL IN Q4 TO EXTEND CASH
RUNWAY

Source text for Eikon:  ID:nObibzdNpa 
Further company coverage:  NTI.OL 
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