Ann: Quarterly Activities Report, page-9

I agree. This quarter will be interesting; suspending production, sale of 90,000t to Asia buyers on top of any BSM sales plus lower operating costs and IOP in mid $US120s for 62%Fe. Should see a boost in positive cash flow for the first time since production started.

My guess is they are happy to just eat into the large inventory for a quarter or two and build a cash pile before starting production again. At our current sales level, we have about a years worth of sales but their focus will be on building monthly sales at decent prices imo.

Whichever way you look at it, TI1 are looking pretty solid at the moment.