Appreciate your comments and agree with most the points you make. However, my main focus is TRF as I'm only a small holder in IFE.
One point I am concerned with (Copying from your post....) " not such a disaster as long as finchy and co take the bull by the horns and get someone with a very strong character to take control of the daily running and profit outlook."
IMO, finch is not capable of this. TRF would be better served by a results orientated MD rather than a visionary geologist (in turn this would help IFE too). TRF also needs a real board to ensure governance. Too much self interest in the current members.
To date, TRF's focus to developed the octopus has not delivered the one thing all companies need - cash flow.
It would give me great joy to hear nothing else than what IFE and TRF are jointly doing to deliver the first load of iron ore and cash in the bank. All the other activities (further exploration & leases) are distracting and burn cash, the cash that is not flowing in.
But ahh we have a geo at the helm who wants to find the mythical great big pot of gold at the bottom of the rainbow and will drill, drill and drill until he finds it. He might get lucky, I might choose all the lotto numbers and Europe will back on track by Xmas.
However, as you elude ("he will not run away"), unseating Ian from his cushy position will be a massive task, particularly as he (with Neil M & Shane S) hold a fair chunk more shares than me. Mobilising the Copperites and gaining support from other unhappy top 20 holders is essential.
This might take me a while but so did saving the hard earned burnt (albeit on paper) investing in TRF. Don't take that as sour grapes, I believe TRF have good leases, just want better (and trusted) management to bring it market.
Your guidance will be appreciated down the track if I can make it past step one.
Gozz
TRF Price at posting:
21.0¢ Sentiment: Hold Disclosure: Held
