I think you will find in the next quarterlies they will have at least $3mill in the bank. Depends what has been spent so far on drilling.
TRF has also it's investment in OGX worth $1.4mill at 11c price.
Why OGX is 10c at the moment is a mystery to me, as those last 7 holes were done ages ago and never targeted the silver.
I expect that the next drill holes which was targeted around the 17m at 1.2kilo silver hole, will give a better indication of what is there in regards to silver.
Anyway my point being that TRF somewhere in the future whether via IFE or their investment in OGX, have the opportunity to cash in their chips if needed at higher levels.
They at least are giving themselves a chance to not depend on just future capital raising, which is more than most junior companies under $20mill are doing at the moment.
Whether they achieve their goals in this economic environment is another debate, but their intention has a lot of of merit.
TRF Price at posting:
9.1¢ Sentiment: LT Buy Disclosure: Held
