Hi all,
for those of us who have followed TRF, you will already know this however, it just doesn't make sense.
Assumptions:
M/Cap of IFE: $50m (who own 80% Iron Project)
M/Cap of ROL: $104m
Fundemental value of TRF:
20% free carry of Iron Project: $12.5m
50% ownership of IFE: $25m
11% ownership of ROL: $12m
Cash in bank: ~$1m
Total: ~$50m
CURRENT TRF M/Cap: $42m
So, you can buy a company today for $42m that has fundemental assets (if currently priced accurately) of ~$50m plus you get the enterprise and the Trafford projects on top?
Seems like a steal, is this a case of 'if it is too good to be true?'.
I don't think so and very happy to own TRF!
Regards,
W
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i know you know but are we all stupid?
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