Still a lot more to be done to get the first load or high grade DSO on the ship but are no doubt in a great position. The share price is consolidating nicely and as we have seen in the past the share price can move up very quickly, 20 - 30 in a day on the back of positive news and there will be a steady stream of positive news coming. Trafford have some excellent tenements to explore, woomera, peterlumbo and many more within wilcherry hill area and once cash flow comes with the 20% free carry from the iron ore sales they can purchase their own drilling equipment and go hard on these areas. Ian and Co have done a great job to ensure a great platform has been set for Trafford to immediately use the money to drill these tenements. While setting up Ironclad they have been identifying the main areas to drill once money is in the bank. With their ROL holding and also options to buy into other companies in Africa and South America will see Trafford as a nice little edge fund. Ian and Co, although sometimes fustrating with delays and lack of communication to holders, are doing a great job and when challenges arise they have always come up with Solutions to get Ironclad at a stage of producing. A lot of the main boxes have been ticked for Ironclad and with the current staff experience and the new staff members recently appointed will see IFE soon to become a unique producer of DSO Iron ore (only the 2nd i believe in the world) and with the floating harbor will make a lot of people / companies take notice and look on in envy.
TRF Price at posting:
32.0¢ Sentiment: Buy Disclosure: Held
