In the last Territory Resources Annual Report, the company said...

In the last Territory Resources Annual Report, the company said that the average cost of production was about A$60 per tonne. At a relatively conservative exchange rate of 0.7 Aussie dollars to the US dollar, that would mean that the break even iron ore price for TTY is US$42 per tonne. Possibly cheaper with the lower cost of oil and shipping in the current economic climate. Still looks reasonably safe to me. Any comments would be appreciated.