We all hope it comes soon than later. But there must be weeks of meetings/ negotiations that are currently taking place currently between Trafford/ Ironclad management and relevant stakeholders. Even South Australian government departments had to be notified with many amended submissions relating to Lucky Bay Port. Final Financing agreements all take time, with various legal departments. And final contracts have to be drawn up which requires a lot of drafting detail with numerous clauses.
We know Trafford had posted recently a $1.3 million profit using recent changes to mining accounting rules. And they also had $225,000 in cash and deposits at call as of end last quarter. More recently we also know they have been given a short term loan $400,000 repayable in 20 months (plenty of time). Most likely from a private investor, like Mindax. Recently a private investor gave a short term loan to Mindax which can be converted into shares at a later date. Im sure this is also applicable to what Trafford are doing. This gives TRF plenty of time to seal the big deal in between.
Trafford also also have the possibility of farm out/ down their Twin Peaks project to other entities and cash on the table, if required.
No wonder Forty has been purchasing a lot of TRF recently in his previous post. Word is that he has been seen inside Raffles Singapore, drinking plenty of Long Island Tea, with Ted sipping on Lemonades..
Go TRF!
TRF Price at posting:
8.3¢ Sentiment: LT Buy Disclosure: Held
