"Why are we talking spot prices. Don't TTY have forward sales via Noble Group at contracted prices?"
Diesel no they are selling the lot on the spot market.
Excerpt from qtrly(29/7)
"Formal annual sales contracts with key steel mills in China to be finalized once benchmark pricing structure completed. In the meantime all sales continue to be completed on a SPOT BASIS with recent strong increase in prices. These price increases in relation to revenue will become more evident during July/Sept quarter"
Can't see any problem getting finance with very healthy revenues from Frances Creek.
TTY Price at posting:
22.5¢ Sentiment: LT Buy Disclosure: Held
