re: Ann: Epithermal Mineralisation at Black H...
All the land and all the exploration success really counts for very little in this market unless it can be unlocked to provide real economic returns to the company. TRF may have some great tennements but realistically it doesn't mean squat unless they a) stumble across the next big thing in SA or b) can at least turn a decent profit from it even if its not the next big thing.
Either way, to do so requires CAPEX funds which TRF certainly does not have and IFE does not have which is why they are not producing yet either. Meanwhile these geo's and director's sit back in their leather chairs collecting their dollars for doing SFA for the shareholders.
I understand IFE is a different company but what they've done in the last 18-24 months is a great example of incompetence at its best. There's been so many promises of 'mining next week' 'mining next quarter' that all respect and belief is long gone now. To make matters worse no earth has been moved for mining and the port is still no closer to being operational for us as the Tug now needs to be sold and further approvals sought.
TRF won't be getting any funds from IFE in the near future IMO and with simple administration costs along with the many fingers they have in pie's without filling - the cash at bank will be burnt away in no time.
Sentiment: I've basically given up on both these companies and in particular Ian Finch. Any success and operational cash flow from here will be seen as a miracle by me and i certainly don't expect it to occur. Anyone who attends the AGM should tear shreds off of Ian & his band of merry men because they've unlocked no value for shareholders and if anything squandered our support to a point where it no longer exists at all.
TRF Price at posting:
19.0¢ Sentiment: Sell Disclosure: Held
