Strong past tie up with Portman mining (we all know how good Portman is!)
135 million shares on issue and cash to progress the job till exporting in August.
Without indept study, sounds like very good management, Trevor Tennant - director (ex Portman excutive director) 6.5million shares.
http://www.territoryiron.com.au/data/deposit/site.document.11546.documents/TerritoryIron_Annual06.pdf
Should be a good cash cow!