Agree. Also until we get regular local BSM sales which are greater than 50% of our nameplate production (500kt) we really won’t see the SP rerate we all think is justified. We need to be making a NPAT of $20m imo to really see some action here. With 62%Fe ore at $US102/t, if we could mine and SELL 500ktpa we would be happy chappies, but I suspect we will fall short of that again this year.
TI1 is a solid little player but without regular sales it will continue to drift on under the radar. Still think it will deliver results but may take awhile. Still think it is worth accumulating for the long term holders.
Ann: Chair's address to shareholders & AGM presentation, page-5
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