Arlberg, if even the worst of junior projects are getting finance, what does that say about IFE ? There is no excuse for a 3+ month delay since final port approval unless it is because the financiers are not playing ball. As more time leaks away we are increasingly exposed to potential decline in IO price and China weakness. While at current prices it may only take 1 years production (1m tonnes at margin of $35) to repay the total borrowings clearly the lenders are not convinced. I had hoped that IF would at least be able to pull this off but apparently lenders have been reading his overly optimistic posts from all of the last 4 years.That guy is a serial non-performer. Meanwhile, TRF is virtually out of funds for daily operations - everything depends on IFE getting into production. If there was a market to sell into I would be out. Unhappy does not begin to describe my feelings at this stage.
TRF Price at posting:
7.2¢ Sentiment: Hold Disclosure: Held
