tested 80 but fell back, page-2

Ultra

Well done. I am sitting back and waiting, I suspect like most investors are with IFE. If you look at the buy side 75c is the big support, with now, little of the sell side it could go at any moment.

However, the phrase, no news is good news, is a little concerning. The placement was done on the 15th December. IFE need a lot more than the $6m raised and at the time we were all told that there were documents at the ASX waiting to be approved before the rest of the CR to take place.

Well come Mr Finch what happening. The ASX are not that slow, and even if there is a hold up, why not issue a press release saying something to the effect. Port contracts taking a little longer than expected, but should be signed by XX date. Mining licence applied for on XX date and will take approx XX months. ASX have approved CR and we should have an ann to the market within XX weeks. Simply as that (maybe I should call Ian and ask him for a job as press secretary!!!)

That way everyone would know the position and investors can make a decision one way or another to buy or not. At the moment no-one knows what is happening and yet IFE are supposed to be shipping I/O out of the country this year!!

I maintain a HOLD