Kundip is starting to look like a major field with all discoveries having still potential for extensions. Dilling has yet to go to any significant depth and I suspect we have some promise of substantial underground operations after the initial open cut phase.
The project economics were pretty good back in late 2005, however the Burnakura distraction resulted in delays and a halt to project financing and start up.
The project is a promised by management far more robust now than back in 2005/6 with these recent NEW discoveries obviously adding significant resource.
It is worth going back over the huge amount of work done by TTR at Kundip in particular between 2003-2005. All of this work was funded from the cash flow from RAV8 while recent work has been funded from the sale of the Burnakura JV sale and injection of funds by cornerstone investors.
So here we have a debt free company with a robust $2billion plus resource and a Market Cap of $20m. Significant revaluation required I think!
Worth going through the archives on the TTR website
http://www.tectonicres.com.au
and go through the reports. There is a lot of substance there and it shows how much work has been done.
