i know you know but are we all stupid?, page-3

Winner, I have been saying this for several months- thus the reason I became Obese in these guys...

What you talking about in regards to 1 mil in the bank- they just raised several mil at 50c ps. They state that they will sell down ROL moreso if required to get the Iron Ore out the door in approx. 6 months.

2 mil tons pa is very nice cashflow of HUGE quality grade Iron Ore.

My valuation is similar however I add a premium for 100% of the other assets at Wilcheery... from what I hear from Management I apply an 8 mil valuation to this. So my valuation is as...

Value of TRF-

20% free carry: 14 mil
50% ownership of IFE: 26 mil
11% ownership of ROL that they can sell down for extra money: 12 mil
Cash in bank: 1.5 mil
Wilcherry assets 100% : 8 mil

TOTAL: ~ 61.5 mil

Current MC= 42 mil

Near 20 mil undervalued being 30% less than fair value. That is on current valuations, not what I believe these will be valued at closer to the Iron Ore being shipped and the gold mine will be very interesting. Plus other commodities that are pulled out of Wilcherry being many and varied potential.

Top future ahead and a ST BUY. And LT- so my sentiment is BUY.