burnakura cash flow 3rd q

Extracts the JV partners announcement today gives indicative information of Cash flow from gold production at Burnakura. Ave priced received A$827 per oz (excellent) and cost per oz should be no more than A$350 (given only processing and production costs)

TTRs share of gold sales are equal to Extract so they will receive $2,038,000 also. They will also receive a payment of approx. $1,592,000 from Extract for production and management costs (some of this may be owed from prior periods because of Extracts prior tight cash position). It is imposible to determine actual profit from this cash statement but I expect TTR should clear nearly $2million from Burnakura this last quarter.

It is unknown how much bullion was carried forward at the end of the month. 10,000 tonnes still to be processed which should produce at least 1,800 oz which will generate approx $700,000. At the end of April all production will be completed.

Resource figures have been updated for Burnakura to reflect the remaining resource since underground production was stopped in December 2006. The global resource for the project is 3,821,000t @ 3.2g/t Au for 391,000 ounces, along with the exploration potential, plant and infrastructure represent key assets.

It is unlikely TTR will report their cash position in their quarterly report (they are not obligied to as a producer). However, it must have improved cosiderably above the $3.3million held at the end of February 07

Also to positive news from RAV8 in that "TTR announced that Mincor Resources Ltd are about to commence exploration activities at RAV 8. Within a week a Landtem SQuiD TEM geophysical program will commence aimed at providing further geological information from which initial drilling targets can be identified. Mincor’s intention is to commence drilling soon after the TEM data is processed. This is the first exploration on the tenement since 2005."

"Meanwhile Tectonic has been developing its modest mine plan since the beginning of the year delivering ore in February and March with production ramping up in April. The area constituting the main target has now been reached with head grades from this production area now exceeding 3% regularly. This ore is sold to BHP Billiton for treatment at their Kambalda Nickel Concentrator. The delivery of tailings to the Kambalda Nickel Concentrator has been curtailed and no
further material will be delivered with the parties sharing costs to date. Tectonic believes there remains some further value to be extracted from the tailings and is progressing dialogue with various companies specialising in the extraction of base metals
from low grade tails and water. The company is not contributing towards any costs associated
with this work."

"Nickel sales will also therefore contribute significantly during this last quarter and through to the end of this financial year at least. 3% head grade not bad either and now that they are producing from the mine the margins will be excellent."

I am hoping that Steve Norregaard will give a clear indication of TTRs cash position going forward. It will be I am sure very reassuring for TTRs patient investors.

Having said that I think it will be substantial but not yet stong enough to gain purely debt funding to progress the Phillips River project. However, maybe when the Burnakura sale goes through it will. It is likely though that TTR will have to raise a portion of the funds through the issue of further shares. However, the current share price needs to get a kick along to make this a really viable option. Its a "catch 22". Are there any "white knights" out there who believe in Tectonic's Phillips River Project? I've done my bit over the years (Coverting Options, Paticipation in new issues, Buying and holding and buying more shares).

Come on the rest of you guys out there lets get these sellers out of the market. It won't be that hard.