I think it is a great deal, TRF will own about 18% of Strickland, which only has about 18m shares on issue and is about to start agressive drilling of a rich gold mine. Reminds of when TRF first invested in Robust. On good drilling hits, with so little shares on issue, STK could go through the roof, and so we have TRF's share price will be linked to STK, same as when they were linked to Robust, at a time when gold prices are very high. Also the team they have got together for the project may mean that development of a 25,000 or 50,000 oz/year operation is fast tracked, so TRF will have the option of keeping their share of the profits, or selling out a premium...like they did with Robust. I would like to see TRF also give Weednanna gold some development and get this into production, could have 1 million oz's right on their doorstep.
TRF Price at posting:
21.0¢ Sentiment: Buy Disclosure: Held
