Ann: Manganese Potential at Wilcherry Hill South , page-12

re: Ann: TRF: Manganese Potential at Wilcherr... I don't believe so dhimurru but don't quote me on that. I believe these state approvals were expected sometime in May, so if you wanted to be technical they are only 6 days overdue but in my experience with IFE and TRF 6 days becomes weeks, months or years when your waiting for something to happen.

Some of the new IFE holders may think I sound overly negative, but when you've gone through 3 project managers, are 16+ months overdue on when mining was meant to begin, wasted funds on a Tug that is no longer required, haven't seen squat in terms of renewed cost estimates i.e. an updated DFS, i could go on and on but you get the picture.

The above are just the fundamentals that have gone horribly wrong, if you want a technical view of whats gone wrong have a look at a 1, 3 or 5 year chart of IFE and TRF. Tells a pretty ugly story in one picture. Also just think on this, to reach the companies original listing price they need to make a 1000% return on the current shareprice, would love to hear Finchy's view on that.