re: Ann: Wide near surface gold zones outline... People are...

re: Ann: Wide near surface gold zones outline... People are saying on here that TRF are cash up, i'll think you find that they are not exactly swimming in cash.

In late Jan they sold ROL shares worth $7.4 million
Start of Jan TRF had approx $600k in cash at bank
That totals $8.0 million available to TRF

$529k was spent on buying IFE shares on market to prop up the IFE share price for option conversion
$844k was spent on converting the IFE options
$600k approx would have been spent calendar year to date on admin costs according to most recent quarterly cashflow

Totals $1.97 mill we can account for reasonably accurately.

Now take into account say $1 mill spent on exploration, lab work etc etc etc this year so far as well.

Takes years expenses to basically $3 mill leaving $5 mill in the bank and this is with IFE providing no 'solid' timeframe on when we can expect first shipment.

Ian & Co are simply being prudent with their cash until we see some income flowing from IFE which I personally support. Would you rather they burnt through that $5 mill asap and then we require a capital raising because IFE incur further delays?

Let TRF continue to do the ground work for what i'm sure will be a greater exploration capaign once IFE cashflows are actually occurring.