World Titanium Resources (ASX: WTR) has received a change of substantial shareholder notice from JP Morgan Chase and its affiliates who have increased their stake to 8.2% from 5.18%.
 
JP Morgan had acquired 12,583,716 shares in the company between 10 April and 12 August through on market purchases and participating in placements during that period.
 
The company had in May raised $3.17 million through a non-renounceable pro-rata entitlement issue and a further $3.25 million in August through a placement of 25 million shares.
 
It continues to work on the proposed joint venture with China's Sichuan Lomon Titanium for funding of the Tier 1 Ranobe mineral sands mine in Madagascar.