Summed up nicely Pagedown.They will have enough funds (cash and...

Summed up nicely Pagedown.

They will have enough funds (cash and investments)* on hand to last until market picks up. The market and availablity of funding will pick up when it sees (or anticipates) demand for commodities returning.

We are seeing many projects being shelved globally, costs of production coming down and labour shortages reversed. This will all contibute to optimal conditions for recovery in 12 to 18 months time. There will be a lag time for many of these shelved projects to start producing again. TTR will be ready with all approvals, operational plans and funding at that point in time to move ahead swiftly.

So with minimal debt hanging over them (which has been fatal for others) TTR have a solid balance sheet which will allow them to survive the current downturn.

*TTRs funds at the end of June 08 were cash and cash equivalents of approx $4m plus investments in shares and warrants to a total of approx. $3.1m (Silverlake Resources and ATW Gold Corp).

They also have Property Plant and Equipment at a current written down value approx $4.6m (includes freehold Myamba Farm Property $1.5m)