135 million Shares 60 million shares (recent capital raised to...

135 million Shares
60 million shares (recent capital raised to Crawley)
Total = 195 million shares
Market Cap = 195M x 0.49c
= $95.55 Million

2007 Production Target is 1.5 Mtpa
Iron Ore Price = $69/tonne USD
Revenue = 1500000 x 69
= $103.5 Million USD
= $131.85 Million AUD

No more capex, the last capital raised is enough to fund the company right into Production.

I cant find the estimated operating cost for TFE but lets be very conservative and say its half the revenue.

Thats $66 Million EBITDA
NPAT should be around $46.2 Million
(thats nearly half the market cap!)

1) MOU in place with China
2) Production in March
3) Exporting in August
4) Cash flow report out in October

Some people are probably nervous about buying after the recent rise in share price. But looking at the stock fundalmentals, this stock should hit $1 by October.

DYOR!