annual report shows a solid position

Annual Report yesterday gives indication of the present solid position TTR is at.

Cash on hand of over $4m and investments over $3m. Total Equity of over $25m giving a NTA per share of approximately 10 cents.

Noted is the current reduction in overheads while the Company directs its focus to beefing up the Phillips River feasibility status. Only essential staff has been retained while exploration work is contracted out.

Currently with funding opportunities being tight (given the "credit crunch" ) TTRs timing for the BFS will be on the mark next year as the situation eases.

With the current share price at long long time lows it is a rare chance to take a position in an exciting project.