Ann: Placement of $500,000 / Proceeding with Reno, page-17

re: Ann: Placement of $500,000 / Proceeding w... hi simno,

thanks for this clarification.

i was a bit early here and mentioned in a following thread that it wasn't being underwritten. yesterday's announcement of a renounceable rights led me to incorrectly assume it was to be underwritten. a little bit unusual imo but there we go.

renounceable it is and i suspect the encumbents will pick up the loose shares and options not taken up. i wonder if ian will take up his allotment. it will cost him 60 grand or thereabouts.

one cannot trust anything atm imo with management. watch the price of ife which in turn is giving, or should give, trf some support. don't be misled into falling for the rights. could be better times ahead to buy lower. just be careful everyone.

be good,

40.