Ann: Appendix 5B, page-6

From above we get:
-Sales revenue Jan to June: .............. .$3.758 mil
-Forecast sales revenue for Sept Qtr: $31.584 mil
-Total sales revenue YTD Sept 30th:..$35.342 mil.

If the shipping season is anything like 2017, then we can reasonably expect a further 3 shipments in the Dec Qtr or a likely $10 mil extra revenue ( including domestic sales.) (like last year there will likely be a rollover of payment into October from a late Sept shipment )

IMO, had TIG got coal at port in October it could have shipped into Nov. because freeze-up did not happen until mid November. Perhaps its Marketing Dept will learn from last year's experience and
have the necessary deals set up depending on weather.

Total revenue (my guesstimate) of $45.342 mil. for 2018

This should position the new CEO to win a major financing deal to set TIG on the road to 2 mil/T/P/A.

2 million T/P/A at today's prices and COP should yield at least $80 mil NPAT, IMO which, in turn, should
give the company a mkt cap of $480 mil (p/e of 6) or a s/p of 27c.

What do you think, bernardshaw?