Sub7 , I think this time is different. The CR for TRF is fairly modest and targeted mainly at proving the tin resource. Most holders will be very happy with that.I think weakness in TRF s.p may have something to do with holders selling off 10% in order to pick up the new rights , including oppies. Interesting that most activity has been above 12 , (the level of the rights issue). I see the 200k seller at 12.5 has been taken out today. That shows a bit of confidence. IFE is another matter. If port approval is given they may not need a CR from shareholders; at that stage, with production only 4-6 months away, the project would look very bankable. I think this time is different because production is genuinely within sight. And if IFE starts producing cash that is brilliant news for TRF which will have its exploration funded (and more) without the need for further CR's. It's a good model; pity it has taken so long to come to fruition.
TRF Price at posting:
12.5¢ Sentiment: ST Buy Disclosure: Held
