Mazeltov, thanks for posting that item from WA Business news. On...

Mazeltov, thanks for posting that item from WA Business news. On the face of it, Ian is saying the proceeds of the ROL shares will be used for acquisitions , joint ventures , exploration and drilling at Weednanna - no mention of the 16m IFEO's that TRF holds. But then "most promising business opportunities" referred to by Ian might just encompass the IFEO's ??? The cost of exercising all the options is $4.32m by my calculations. That would make a big dent in the ROL proceeds. Can Ian afford NOT to take up the options - TRF's diluted (28%) holding in IFE may not be enough to retain effective control. Further, if TRF does not take up the options it is unlikely that the IFE share price will be maintained above 75 hence none of the other options will be exercised ! That would put an end to the easy finacing through to production and would leave IFE to come up with some $20m from a financier....may not be as easy as we would like to think. IMO everything points to TRF using the ROL proceeds to take up the options - that guarantees the remaining options will also be taken up and funding for IFE through to production is then largely taken care of. That would still leave TRF with $3m in the kitty to carry out drilling/exploration immediately. Then in the medium term TRF will have income of $10m p.a. from its 20% free carry of the W.Hill DSO sales would should be more than enough to fund other projects. It is not likely that any announcement will be made until early March - just in time to trigger action from all other option holders. The alternative is almost unthinkable ; if TRF does not think the IFE options are the best use for its money what are other investors to think ???