Ann: Company Insight - Trafford's Progress wi, page-3

re: Ann: Company Insight - Trafford's Pro... I know it's a old issue but what was the justification for Trafford spinning off Ironclad? It seems as though most of TRF's energy is going towards the Wilchery Hill Iron Ore project anyway. It seems like a attempt to soak up more investor capital in administrative activities. Can somebody please explain the logic behind this decision?
Don't get me wrong I'm really positive about this company and the Wilchery Hill project but wish they could have tackled the project by themselves.
Already TRF's share in IFE is diminishing as they dilute their shares to get the project up and running.
Is this a thorn in the side for other investors too?
Im looking to buy more shares in TRF if it gets cheaper, but one feels this share could really slingshot higher in the near future.