Let's have a look at Project F alone and let's disregard any...

Let's have a look at Project F alone and let's disregard any added value of Amaam North or Amaam for the purpose of the exercise.
IMO, it's a useful exercise to simplify the forward fundamentals of the company and the share price implications



Project F as a stand alone project with production/revenue & costs are as per 2018 with no wash plant.

Market Cap:.................. $82.8 mil
# of Shares......................1.8 billion
SP.....................................4.6c

2017 Shipping season average price per ton FOB= $99 AUD.* (170K ton for $16.822 mil AUD revenue)

Resource:.........................16.1 mil ton
Sales P/A..........................600K ton (unwashed)
Revenue...........................$59.4 mil @ $99/ton AUD
COP-FOB.........................$43 AUD/ton (total $25.8 mil)
Gr0ss Profit......................$33.6 milUSD
NPAT ...............................$30 mil
EPS:...................................1.7c
P/E of 10............................17c share price (with a LOM of 26 years.)


This is for a Project F only as is and it is a useful way of looking at TIG.
In addition we have:
Amaam North .......110.6 mil ton resource
Amaam...................521 mil ton resource.

If this company was owned by you or I , we'd probable proceed with Project F 600K T/P/A unwashed coal production
& sales p/a until we could finance further development out of cashflow.

This is the basis on which the company should promote itself with the added value of the long term business plan &
the quality tier one 630 mil tons of coal in the ground. We have to eat this elephant one bit at a time and that was
the reason that TIG was not financed for the full blown project a few years ago.

I'd appreciate comments please.

* I assume that the quality of coal and coking coal mix will improve thereby adequately offsetting any adverse international price or currency fluctuations.