"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."
1. TRF has been selling below its 'net asset value' for years. IMO that means only one thing: management is a NEGATIVE value added product to the mix.
2. IFE/TRF will have massive dilution in order to fund the project if it cannot get bank funding. ROL did a cap raising and handed 'the big end of town' a massive 60 cents per share profit taken out of the hides of the ordinary shareholder.
Add in the huge amount of options given to the TRF people and you get more dilution.
IMO the market hasn't yet priced in the massive dilition coming from each and every TRF holding and its own shares as well.
Based on the possibility of that massive dilution to IFE, more cap raisings from ROL, the options dilution from insiders, and a possible cap raising from TRF, the shares of all three are overvalued and should be trading much lower.
TRF Price at posting:
42.5¢ Sentiment: LT Sell Disclosure: Not Held
