With 36% of IFE shares and 20% free carried it should be in effect be valued at least 50% of IFE. IFE today has a M.Cap of about $56mill which values TRf holding at $28mill.
Plus TRF's holding in ROL is valued at near $7mill. This should increase as ROL are about to announce their maiden resource.
Plus about $3mill in the bank and you have a cash out value of about $38mill.
Add the potential of gold credits when IFE start mining and then add the exciting large area a couple hundred metres away from IVR's 1000plus g/t silver hits.
I keep looking at the market cap of TRF today which is around $25mill and I have to look twice as I think there is a mistake.
A lot of buying today but I would have to assume there is a large seller out there that must have made up their mind they were going to liquidate their position on this volume for whatever reason he had too.
Once his finished TRF will reach it's proper fair value. I think the buyers could not believe their luck today.
TRF Price at posting:
27.5¢ Sentiment: LT Buy Disclosure: Held
