So, 15.84m value from ROL holding plus 34.7m value in Wilcherry Hill (based on IFE sp of 75 + 20% free carry) gives total MC around 50m which equates to approx 60 cents/share. That takes no account of gold at WH nor the control that TRF has over IFE by virtue of its dominant shareholding.
Why is TRF at 40 cents ? Answer: Ian's ability to continually put his foot in his mouth.
