although i've heard that date too, I will not expect that as it is not a guaranteed time.
As far as the logical progression goes, I would suspect they would release the DFS then the address the cap raising. This is especially important if they are raising in part to Soph's, as we will probably minimise dilution.
My assurance from Ian is that they are at the extreme tip of port access negotiations and do not see this as an issue at all. Personally, I do until a contract is signed - I want signatures at this stage of the game. However, if the only reason nothing is signed off is due to their being multiple options, then I'd rather they spent a little longer waying up the economics of each. IMO, this is where the DFS is at and why we have delays.
It should be a smooth transistion into Cap Raising and development once their infrastructure solution is determined, IMO. There aren't too many long lead items needed, so as i understand it, the longest process will be the mining licence approval - 5-6mths or so.
I agree wholeheartedly with Jay that the selling of IFE/TRF is pretty much done with - points have been made, and now it is time to turn the ship around and head north. Knowing the tightness of the registers, she will move quick once the green light is given on the DFS.
cheers and goodluck Split
TRF Price at posting:
46.5¢ Sentiment: ST Buy Disclosure: Held
