All three companies will need more capital: that is a fact. It is also a fact that no debt financing is coming as shown by the inability of IFE to get it despite all the blah, blah, blah put out by the company.
TRF has put out that they will probably issue shares - the resolution was approved at the AGM.
ROL did a cap raising and ordinary shareholders were 'ROLled' as was TRF in seeing the value of its share holding fall. And dilution too.
IFE did a cap raising and ordinary shareholders and TRF had their shares fall faster than iron ore going down shute. Diluted as well.
TRF will do the next cap raising at a price lower than the current market price per share and ordinary shareholders will see the same results as before with ROL and TRF: its share will fall in price.
Then the next round of cap raisings will come: ROL, IFE, and TRF. By the time it finishes all three will have had a huge increase in shares outstanding, TRF's holdings in the other two will have been diluted and fallen in value, and that will be reflected in a much cheaper TRF share price.
The TRF dream has turned into a dilution and falling share price nightmare courtesy of the current TRF management and BOD.
What could have is no longer.
TRF Price at posting:
42.0¢ Sentiment: LT Sell Disclosure: Not Held
