The spot price is around $US123 a tonne, including freight,...

The spot price is around $US123 a tonne, including freight, compared to the contract price of $US61 a tonne set with Japanese and Korean steel mills. The difference is about 80 per cent when freight is taken into account.

TTY is selling 2.2 million tons pa. into the spot market.
TTY is a producer. Not a would be if it could be.

TTY's current resources may be minimal, but it's a producer and NOW making money.

Now is NOT the time to lock in contracts, hopefully TTY management will NOW start showing that they have just a few brains and continue to sell on the spot market.

Lets hope that TTY management are seriously doing some investigations into the iron ore, manganese and chrome ore opportunities or was the chairman's address at the 2009 Annual Meeting just a load of waffle and rhetoric like our current PM.

"This business development program is now underway and we are in the process of recruiting business
development resources to assist with identifying and targeting suitable opportunities. Initial acquisition targets will primarily be in iron ore, however quality opportunities in manganese and chromite ore are also currently under consideration."

Maybe these IDIOTS need some HELP, before the cost of all opportunities double and triple before they can make a decision.