if ife is worth 75c, then trf cheap

Just redoing some sums on the value of TRF - which as yet has not announced any cap raise and i hope they do not.

I actually hope they sell their rights (est 13,000,000) which could get them approx $1 mill.

After this they will STILL hold:

26 mill IFE shares (26 x 0.75 = $20 mill est.) +
7.2 mill ROL shares (7.2 x 1.80 = $13 mill est) +
20% free carry on wilcherry hill ($85 mill / 5 = $17 mill)
(85 mill based on 90 mill IFE shares @ 75c (80% of project)

Plus cash from rights issue and gold credits from wilcherry hill.

Est. Total value of TRF (post IFe placement @75c) = $50 mill or 60c per share.....

I just hope they sell their rights..