Although I can't help think that ASIC or someone have rules in place where companies are obligated to run the business in shareholders best interests. Imo this hasn't been the case. I realize some things are out of management's hands ie the current low iron ore price and when the AUS dollar was high, at least now it is at a better level for exporters.
As I see it over the years this company has made numerous positive predictions in announcements which have rarely come to fruition. Missed time lines, inadequate shareholder updates and generally very poor shareholder communication. Their system seems to be talk up the value at mining investor conventions etc. When money runs low have a credit raising and a couple of years down the track when money is tight credit raise again. Put out the occasional positive announcements like "IFE shareholders are lucky to these rare shares" in this valuable mine and how many times over the years have we been told we will be mining within 6 or so months for nothing to eventuate.
Floated @ $1.00 reaching a high of $1.60 to today's value of 1.4c doesn't make me feel lucky. Imo I feel management have much to answer and take responsibility for.
TRF Price at posting:
1.4¢ Sentiment: None Disclosure: Not Held
TYX Price at posting:
1.5¢ Sentiment: Hold Disclosure: Held
