The following is an extract from Company Insight 31 Jan 2011 by Ian Finch.
"Now, with the Wilcherry Hill Iron Ore Project on track to production late this year we are looking to acquire additional exploration projects overseas. We are targeting Africa initially and expect to make an announcement about this soon. The funds raised recently will go mainly towards maintaining this momentum in exploration"
Just rang the office and the receptionist said that Ian and some staff are not in the office till next week, as they have gone to South Africa.
I am sure they are not going there to visit the lions. Going by the above comments it appears they may come back with a new and hopefully valuable acquisition. With so many issues with IFE to finalise, I doubt they would make this trip unless it was really worthwhile.
I have noticed the share has been holding well lately, so I will be keeping a closer eye on it this week.
Ian spent many years in Africa and knows it fairly well and he should have some good contacts there as well.
TRF Price at posting:
42.0¢ Sentiment: LT Buy Disclosure: Held
