Ann: Wilcherry Hill Iron Ore Project Update , page-2

re: Ann: IFE: Wilcherry Hill Iron Ore Project... Finally a release on progress - tick (thank you)

No mention of timlines - double cross
(why not mentioned? Me thinks this year is gone)

No mention of updated guidelines for FY12/13 financials - double cross (really poor - suggests they still don't know when and how much)

Discussion about contracts, preferred players known - tick

Increase in Capex - cross
(been eluded to by many for a while now - still more to come me thinks)

Increase in short term operating costs & logistics - double cross
(as expected - original plans were no good - however too expensive to dump them up front - will short term mining actually make any money?)

Mention of small amount of good ore that will be cheaper to mine and get better return, desperately need the cash flow - tick


Appreciate that we finally got a release. However the critical missing information continues. It appears TRF management are still sugar coating their mistakes.



Time to step down Ian.


__________________________________________

Make TRF management accountable to shareholders

email: [email protected]