Hi vivmak, IMO! What a miserable outcome! There are numerous statements made in the exploration business which verge on half truths or downright lies, IMO our own Mr Finch is pretty adept at swinging the lead. Unfortunately when the exploration boom evaporated , as it has , the "Mr Finchs" get caught out. Frankly it's a case of buyer beware. Who to blame? Only ourselves unfortunately. IMO MOU's are not binding . I seriously doubt any sane person would expect IFE to be producing iron ore at the current price unless they intended bankrupt the company quick time. No way will IFE's "iron ore" be economic in the foreseeable future. In the long term it may come good but , since "in the long term we are all dead" that isn't of much relevance. Forget the iron ore, it's a no-no! I suppose one might question whether it is "iron ore" since it can't be extracted at a profit. Our crucial short term money maker is therefore kaput! This is a real disaster as we run into the problems associated with the mining equivalent of the GFC. TRF 's future was dependent on funds from IFE to maintain its exploration programme. Where to from here? TRF is undercapitalised and cannot raise money in today's unforgiving market. We are in serious jeopardy of going under even if the other TRF prospects show promise. What would be the point of quitting TRF at today's price? I've written this one off! BOLTA!
TRF Price at posting:
2.3¢ Sentiment: None Disclosure: Held
