Ann: IFE Brisbane Mining 2010 Presentation , page-5

Give the guy a break, hes been hammering this story home lately and straight up says how he is mystified at the current share price. Maybe using the word 'pessimistic' isn't the best idea, but he's trying to get the theme across 'hey everyone pull your heads in because even in the worst case/pessimistic scenario this thing is undervalued something chronic'.

You can even see from the last few slides that he's hammering home the value in the project and how undervalued the companies are (both IFE and TRF's interest in IFE) from a market cap perspective. Going by the graphs outlined, it wouldn't seem like a hard task for the market cap to double and go beyond in a short period of time given where the project is at now, and is likely to be at in 6-9 months time.

Something that I think is of interest, and probably hurts IFE, is the fact that of their 50million shares on issue, TRF own half, then you take into account some of the other top holders (i.e. directors etc) there isn't much wiggle room for mum and dad investors. If this project delivers, getting your hands on new shares could prove difficult which could drive the SP north in a quick way.

Maybe i'm just overly optimistic on where this one could end up, but i don't think it was a 'disastrous performance'. Proof will be in the pudding, Ian seems to be giving everyone ample opportunity to jump on board. I wouldn't be surprised to see the DFS before end of november once hes back from his trip pumping up the story. Just a guestimate of mine, DYOR.