This share is just so undervalued. Based on IFE share price, TRF's 33% holding is worth $22.5m, its 20% free carried interest at Wilcherry Hill is $17m and it has $7.5m in the bank - total NAV = $47m . Contrast that with TRF's market cap of $32.8m based on current SP of 39 ! And last but not least TRF retains rights to all non-Fe minerals at W. Hill !
