TRF is trading very close to it 50c offerred in the offer. Many of us need to make out decision in the next week to ensure we have the funds to cover the offer. I suspect many are selling around 50c and some buying of TRFR has occurred under 2c.
Could be a good strategy if you LT bullish on this company. As it appears undervalued compared to its holdings.
If you purchase TRFR you get to buy the same number you have of full TRF shares for 50c AND you get 70c Oppies that will expire in over 2 years. Not a bad deal- IMO.
I suggest we will hear that Directors will be snapping up the TRFR offer.
Eg. 100,000 TRFR shares gives you;
100,000 TRF @ 50c PLUS 50,000 Oppies to exercise
I believe 70c Oppies valid for 2 years is worth approx 10% premium at current SP value. Being 5c. If TRF trading at 55c then TRFR should be 10c. It looks to be a bargain under 2c.
For my money I will be exercising my TRFR shares as opposed to letting them expire 5PM 20th July. Not sure many others will except true believers or insiders. I would like to see insiders exercise these. This will really push up the SP and get others to exercise their TRFR allottment.
ATM- IMO most will simply let them lapse unless they trading well above 50c.
Would also like to see a progress report, as we getting closer to Q4 2010. Which was meant to be when the first load of Huge great Iron Ore was to be sent from IFE.
Their timetable was very ambitious, to make this Q1 2011 is expected. Hopefully the Iron Ore prices continue to sore.
TRF well worth the 50c with 70c oppies IMO.
IFE also trading around its offer amount. When the offer is done and dusted I feel the SP will take off. If all goes according to the timetable and Ore prices stay high.
Good luck to all in making your decision to convert TRFR.
TRF Price at posting:
49.5¢ Sentiment: LT Buy Disclosure: Held
