Litch, agreed. Since the GFC people on a whole are more inclined for companies generating cash flows compared to those nearing production. With GFC2 playing on everyones minds now due to Euro popping its head back up and the end of Quant Easing in the US, markets are copping it.
For TRF to double, yes things do need to fall in the right place. However IFE are close to having the mining approval and show no indication that the government is unhappy or unlikely to approve. Barge has already been purchased by IFE in anticipation of mining approval. And as of friday, performance rights have been approved if IFE are shipping ore by Jan/Feb/Mar/Apr next year.
I'd be EXTREMELY surprised if cash flows aren't happening by March next year. I think the biggest risk to the project is debt funding once mining approval is received, but Ian doesn't seem concerned regarding this.
Time will tell i suppose. I don't have the cash currently to buy more either, but if the SP hangs around the 30c mark over the next couple months i'll be sure to buy some.
TRF Price at posting:
30.0¢ Sentiment: LT Buy Disclosure: Held
