in the interests of balance, here's some wisdom from a website...

in the interests of balance, here's some wisdom from a website approriately named thebull.com.au

http://www.thebull.com.au/articles/a/19117-portfolio-watch:-resource-stocks-for-the-long-term.html

Territory Resources (TTY)

Increasing demand, particularly from Asia, is putting upward pressure on iron ore prices. The iron ore spot price has risen about 30 per cent in the past 12 months to US$170 a tonne. The Australian Bureau of Agricultural and Resource Economics and Sciences forecast China?s iron ore imports to grow by 2 per cent to 634 million tonnes in 2011, with Australian and Brazilian producers expected to be the major suppliers. Wendt describes Territory Resources as a solid, but modestly valued junior iron ore producer with a low-cost existing operation at Frances Creek in the Northern Territory. ?The company has missed out on the hype surrounding a lot of its iron ore sector peers, but it has a sound plan in place that will see it steadily grow its operations,? he says. ?It also has the leverage to expand via acquisitions.? Wendt says management is aiming to extend the Frances Creek mine life from 2013 to 2015 though an intensive program of reserve drilling. It?s also targeting some regional prospects.

the market forecasts seem about right, the stuff about TYT can be best described as "bull". "low cost" = they are on drugs if that's low cost; "leverage" = they are fully geared and unable to pay off their debts and have no $$$ for acquisitions; "mine life 2013 to 2015" = with a new mining rate 1.2 to 1.5 mtpa, they might just see 2013.