Hi arbie, Perhaps this article could be a starting point for you...

Hi arbie,

Perhaps this article could be a starting point for you in your quest for a fundamental valuation
of TIG. Obviously this region of Russia has its risks:
-Russia soverign risk
-local local Mafia risk
-local fish environmental risk

Weaknesses:
-6 month frozen port
-over 2 billion shares (diluted)
-resource only 80% TIG owned
-high royalty rate based on revenue

Strengths:
-good resource
-low strip ratio for 1st year
-profitable by 2018
-2 high powered Aussie board members
-port with 1 mil ton/P/A capacity
-high % of Coking coal.

Sorry, for me the operational fundamentals are still too opaque to have a reasonable
shot at EPS etc. and I guess the P/E will always be relatively low doe to risks as per above.