exciting times ahead .. low market cap ..., page-34

TTR are currently redefining their Phillips River Resource with a targeted drilling program. A reworked Bankable Feasibility Study and financing package would be expected in the June Quarter. The surge in the gold price and strong base metal prices are improving the "bankability" and will ensure a start up September Quarter. The project was already to go some 18 months ago with all major approvals in place when the initial attempt for funding flounded.

Since then we have hade the divesting of the Burnakura JV and good news relating to recovery of saleable concentrates from the Triliogy Deposit. New and old major suportive shareholders will ensure a successful debt/equity capital raising.

I would estimate TTR will be moving towards production from Stage 1 (the close to surface oxide deposits at Kundip and Trilogy) late in the December Quarter.

This is my opinion and may be a little conservative but that is also the nature of TTRs management - they are in for the long haul and want to dot the I's and cross the T's. A year is not a long time in the mining industry.

Yes exciting times ahead!