It may simply be some reasonably large investors have done the sums on the current IO prices and realised the entire debt to Noble could be paid off very quickly indeed at 2.2 mtpa and $50 p/t operating expenditure. Even if we only manage 3 years in NT that still leaves us very cashed up (and owning a mining fleet).
Despite its short mine life and reasonably large debt to Noble TTY still has a lot going for it - It is operating NOW and at the planned full capacity and fully sold, it has high quality ore, close to infrastructure including closest Aus port to China, Noble's support, good operating costs/big profit margin, low market cap...easy to forget when its been through such trouble, but if IO prices hold up at these levels we will be considerably more than just OK.
TTY Price at posting:
23.5¢ Sentiment: Hold Disclosure: Held
