Concise and simplistic report... I thought it would be more lengthy. Yet in basic point form to discuss further for all AGM participants.
57c baseline figure is based on current assets without taking into account the 20% free carry of Ore or the fact that the other TRF projects (Gold for example) must be worth something. Seems very very undervalued to me just based on current assets worth. Yet that is the market, sways very far down when the Coy is unloved. Yet it will be back in favor again and more fairly valued in the ST IMO.
Yet I have been saying that for months mind you- Lol. Those who attended state it is most of the same. Whilst they believe shipping will be paid for by the buyers, the Port access is still to be written in stone. Leaving an unknown. For my money a great opportunity to by an unloved and very undervalued Coy based on asset value alone. So any upside and fairer valuating will be huge in the ST. IMO.
Ironclad= 39.5c
Robust= 17.5c
XYZ (Other projects in gold- other ventures) = 0c
Total 57c on what we can liquidate now is nice to know.
So the 57c baseline figure is purely the 50% in IFE and 10% in ROL. They have 1 mil in cash left... that will last about 2-3 months IMO.
Yet the Cap raise will happen before then to get our Ore out the door and on Chinese shores in a few months.
The extra investment from IFE\TRF will be approx 20Mil IMO and has been communicated at approx. this amount to many investors. Higher end will be 25Mil to cover all costs IMO.
Now at 45c we are at a 30% discount to what we could liquidate assets at right now. I like this fact in the TRF investment a little over IFE as they are more diversified. Yet IFE will most likely outperform in the MT as the Ore project gets off the ground and into production.
Many seem to think most will be down yet if you been in these guys for over a year you most likely have double bagged. Those of us whom have averaged in higher than a year ago will obviously not like this fact- like myself. Yet we have a bullish LT uptrend as we enter 'end game' of production of Ore at Whilcherry.
This project should be valued at approx. 300 Mil when we ship out the first shipment. Thus a large multi bagger in IFE and TRF.
Hope helps... others thoughts on the AGM preso.
Cheers JAY
TRF Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
