Ann: Epithermal Mineralisation at Black Hill & Ul, page-14

re: Ann: Epithermal Mineralisation at Black H... Dradam, I honestly do not know how you still have hope with this one. We've been taken for a ride on the Finch Express and we've gone nowhere besides throwing cash on the fire and pouring gasoline over it.

Annual report out today, the board/directors alone are burning $850k a year and thats before paying any other staff that are on the ground or working in the office. Ian's total package is around $250k and same with Niel McKay, including a cash bonus this year. Please enlighten me as to what, if any work, deserved a bonus?

Essentially he's been a travelling gypsy spruiking the 'potential this' and 'exciting that' with nothing to back it up. Also in the Annual Report is minimal mention of the IFE project except they are working hard in combination with IFE and the government to achieve cost savings so that its economically profitable at these commodity price levels. Basically giving no indication whatsoever as to when cashflow may start.

I understand its not TRF's sole project but its an extremely important part of their business, particularly as a JV partner, 20% free cash flow from project and all other mineral credits.