sounds positive, page-50

G'day Mr C,

I should think a few sellers of IFE have switched to TRF since the latter's SP dropped from its recent high to below IFE's. Given that if Wilcherry Hill finally starts production 80% of profits go to IFE it'd only be a matter of a couple of years of exporting before sound company foundations are set (given solid Fe prices). TRF on the other hand will rely on their smaller share to hopefully help finance another operation, be it tin, manganese, or something else, all of which must be some years away from production. So on that basis I would expect IFE to pull away from TRF if the expected good outcomes materialise soon, reflecting what the past charts show. I guess we can't expect any news this week or even next, but November looms, so perhaps it won't be too far away now.