The moderator asked for a better articulation of the argument, here goes;
1) IFE/TRF has been my worst investment over last 3 years. Short term holders investing at current levels may feel the sun is shining very bright.
2) BCI Management are professional, outstanding project managers and have never missed delivering on a market announcement over the last 3 years. TRF Management cannot be compared to the professionalism of BCI until they deliver on their market releases.
3) Cash flows next year for TRF are speculative and based on historical performance of delivering on project milestones, highly dubious. Remember the ASX release that had this mine starting within six months back in 2010.
IFE project financials have not been disclosed to the market. It is therefore highly speculative to believe without extreme caution any forward projections. Projects costs in line with general industry norms increase rather than decrease, hence free cash flows may not be available.
4) I would really like to see the day this share delivers, be nice to see it back to 50c, however I am now extremely patient and struggle to see that happening any time soon.
TRF Price at posting:
12.5¢ Sentiment: None Disclosure: Held
