If you do the sums, using info from Japan Metal Daily, TTY will go gangbusters next quarter.
"Japan Metal Daily said that contract prices of iron ore produced in Australia may rise 32% in the July quarter from the prior three months raising costs for steelmakers." "The newspaper, without saying where it obtained the information, said that iron ore may cost USD 158 a tonne, according to a calculation method proposed by suppliers BHP Billiton Ltd and Rio Tinto Group."
On 600,000 tons of IO at US$158/ton and costs around AUD$50/ton will result in Min AUD$60 million/ quarter and a possible $75 million for next quarter.
The debt should be nearly cleared by the end of this quarter.
Surely the idiots selling now at 19.5 cents now will regret selling out in a few months time.
TTY Price at posting:
19.5¢ Sentiment: Buy Disclosure: Held
