Sept Qtr in Prospect:, page-4

Hi George,

'tis just a guesstimate based on 2017 all up costs of about $24 mil. I admit that the 2 shots at upgrading the road in the 2017 accounts are not recurring

but the additional labour etc will counterbalance that , IMO.

Given the improving SSCC/thermal coal mix, what do you think that the average $AUD/ ton revenue will be for the 2018 season?

IMO, The local board members should be out there promoting TIG & its prospects to the market and I just cannot understand why they are mute.

Perhaps they have some masochistic need that evades me...eh?

I agree that the quantity/quality of the coal resource which is within 40 kms from shipping and an amazingly low strip rate has not yet been factored into the SP and the Chairman & the Board have to take responsibility for that .I cannot see why the board accepts 5c/share rather than 50c/share!.

Perhaps once the new CEO gets the finance to upgrade the port & install the wash plant we will see a realistic SP.

In the interim, a full blown broker valuation would help, IMO.