TTY 0.00% 49.5¢ territory resources limited

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  1. 5,227 Posts.
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    I purchased TTY as a spec stock and lost money (not much - I executed my exit strategy (withour fear or favour) to minimise my loss)

    I am not as bullish as others on TTY, even at 27 cents. We have spot iron ore prices dropping significantly.

    The data (as I read it) does not support the mine as profitable. The last qtly cash flow report released to the ASX on 31 July had sales of $18.7M and production costs of $19M.

    Cash has decreased from $19.3M to $1M to end June.

    I acknowledge that payment for one shipment was a little late and would alter the numbers to be positve for production, but even so, sailing that close to the wind with spot io prices reducing does not bode well.

    I am just giving an alternate point of view.

    HT1
 
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