You got to rememebr TRF is small cap.
Small cap investors are a finicky bunch looking for big quick returns and they often prefer to have the money in the pocket and deploy it at the last minute and get it back asap.
TRF is fantastic and the IFE JV deal is good, significantly de risking the entire venture. But the money is still a while away, so the small cappers will wait till possibly even late Q3.
Patience will be rewarded.