come on..., page-148

Hi Statsman.
I suggest you get that calculator back out again and do your calculation again.
Grange at 31 cents and currently has 495 million shares, thats today prior to the capital raising. That is a market capitalization of $153 million, yes it is 2.5 times the market cap of TTY.
BUT Grange has 1 billion tons of IO in the ground, 650 million tons at Southdown plus 316 million tons at Savage River.
Grange makes AUD$120 million pa profit. In reserves it has 100 times more IO in the ground than TTY. It's the biggest magnetite producer/exporter in Australia
Yes, and Grange makes a Profit.

TTY has made ZIP !!!
Grange has announced a capital raising to raise AUD$124 million. It's major shareholders are happy to stump up AUD$85 million.
TTY has taken months to stop it's major shareholder from sending it to the wall.


Grange is the most undervalued IO producer/ explorer in Australia.
Compare TTY and Grange at

http://www.grangeresources.com.au/clients/grange/downloads/item32/Equity%20Capital%20Raising%20Presentation%2018%20Aug%2009.pdf

Yes, I agree. It's like comparing a juicy apple to a dried old grape seed.