the ferret on ife

He is a funny bugger that ferret....

IRONCLAD MINING (IFE) joins the lists today and it looks like it will be a welcome reception for the $1 shares.
Then again, given the market's craze for Fe, you could float a company called Ironing Board and get killed in the rush.
Anyway, a strong pointer to IronClad was the trend in TRAFFORD RESOURCES (TRF) yesterday.
Trafford rose 18.5c to a record $1.245.
Trafford spun off IronClad's 20 million shares in a significantly oversubscribed IPO.
On listing, IronClad will have 40 million shares, of which 20 million will be held directly by Trafford.
IronClad has been established to acquire a 50 per cent interest
in the iron rights of the Wilcherry Hill tenements 30km north of Kimba,
South Australia, from Trafford.
IronClad has the right to earn a total 80 per cent interest by
the expenditure of $10 million.