OGG, What direction do you think the market will go? To me it is...

OGG,

What direction do you think the market will go?

To me it is a great deal for TRF as it removes the need to inject any further cash into the project, leaving TRF to use it's cash for its own exploration.

Admittedly it costs them 50% of their JV free carry, but it will mitigate pretty much all risk from TRF's point of view.

Ian Finch confirmed that TRF wont have access to the $35mill injected by MCCM?, but will still need to wait for production revenues to come in before scoping their cream from the top.

cheers,
Split