Ann: First Coal Cargo Shipped from Project F, page-9

That will depend on several factors but it is hard to imagine TIG being substantially cash flow positive for the next few years. What has happened is it is almost a proven cash generating business; it is not proven until some coking coal has been sold. When this happens, TIG no longer has to raise capital, although it may well do so to fast track to Amaam Main Deposit. It cannot continue to raise capital via equity sale unless the SP is much higher, say 25c plus. This is only going to happen if coking coal price stays up.
If Project F is shortly proven to be profitable, any one can see what value is there waiting. The numbers have been crunched and if you remove sovereign risk, 50c would be a bargain for this asset.