good news at frances creek, page-12

Well, it should be noted that TTY's production costs are NOW AUD$51/ton and they are targeting AUD$45/ton with the increased production to 2.5 million tons pa.
This is very good when you compare with Fortescue who produced 6.55 million tons for the March quarter but the costs were "costs per tonne of ore mined rose to $US32.02"
That is AUD $45.74/ton. You must also remember that FMG has a huge debt to repay.

TTY is doing far better than most realise.
I'd bet that TTY will be paying a dividend before FMG.