Where's the news, page-18

The results are not flash but they are just re-assayed samples from the iron ore project,
The main Weednanna deposit is quite nice with 181koz @ 5gpt, 20% of which TYX owns.
Over time AGS will increase the resource and will also continue to fully fund it, which will slowly reduce our share of the project.

Even if we end only end up with our current 35koz after AGS expands the resource, it's still a nice asset to own. And there is also
the Yeltana Graphite project which is like a free hit for TYX. We have no costs.

The cash position is an issue that needs addressing soon as we should have around $600k left at the end of Dec.

When I spoke to the company in early Dec I was told TYX would look at asset sales rather that further dilution. At the time the sp was .011 so it has dropped significantly since then. I assume they will still look at asset sales as the best form of funding.

What I don't want to see is any convertible note deal to solve the funding problem or we will end up like OGX. They have fallen from .043 to .004 since their con note agreement. With Pinto on both boards and a large shareholder, I hope he doesn't do the same here and try to justify it by saying there is no dilution, because these type of deals nearly always ensure massive dilution by the time the con notes mature.

Geoff Clifford ( SAR & IGO director) on the board should bring some much needed experience to the company once the cash situation has been sorted.

Unfortunately our shares in OGX and KAI are at lows just like TYX, making it almost pointless selling them off to raise funds. About the only other non-core assets left to sell is the AGS controlled projects and a camp left over from the iron ore days.

Until further funding is sourced, it's hard to see how there can be much activity being undertaken other than stream sampling assays and a geophysic survey at Goodsprings and in house studies to Eureka and Jumbuck.  

The quarterly should give us an idea of the plan forward and what, if any progress has been made towards funding.

I've been grabbing a few more shares while they are cheap, but what seems cheap one day are cheaper the next. But that has been happening with most of the speccies I hold.