the markets response to management, page-20

Sounds to me like most people judge a company (and management) on a couple of months of history.

I just don't get it!

Are people unhappy because they cannot double their money once a week or because this company is managing a project of many years.

IFE/TRF have a world class resource, and only ~6 weeks ago they announced indicative feasibility numbers for a profit before tax of ~$35 - $70m in year 1.

Sure they talk generally and sometimes soon becomes a month or two but are you as shareholders wanting to manage this weekly?

People talk about about how much shareholders are paying the board in options and money so why not let them manage this. It must be very difficult at the moment with so much confidental information for Ian to actually say anything before it is all signed and delivered.

When the SP goes up, mangement are great and are left alone, if it goes down, even for a month or two they seem incompetant. The share price is still up compared to a year ago.

I am not saying Ian is perfect (who is?) but it does seem unfair that everyone seems to be stating that management is poor when if you look at his WHOLE performance, the company has a lot infront of it.

As for the AGM presso, what do you want in it? Ian can either publish the BFS or he can't. If it is not finished then he releases what is public.

I think stock should be judged on long term performance. My current holdings currently have a paper loss but if I had of held for a couple of years, they would be much higher!!

Also, for its worth, management have delived the following in the last few months:

Oct - indicitive feasibility numbers
Sep- details on DSO resource
Sep - Sales agreement
Sep - Native title

Regards,
W