My understanding is that nothing is happening and won't until the merger with TRF is finalised, and probably still won't after that. Personally I believe the merger is just another delay tactic with the hope that the IO price will improve. Unfortunately, that is not going to happen, not in the next 12 months anyway.
Once the merger is finalised the only hope is that there is enough profit in the other minerals to make the venture viable. Once again my belief is that there isn't enough, as it has always been spoken of as a side benefit to the Iron Ore.
I am no expert (otherwise I wouldn't be writing as a holder of IFE shares) but I can't see anything positive happening unless the Iron Ore price increases significantly and sustainably.
Worst case scenario is that the money runs out and the whole thing folds, which is looking ever more likely.
Cheers!
Catweasle.
TRF Price at posting:
1.6¢ Sentiment: None Disclosure: Not Held
TYX Price at posting:
1.8¢ Sentiment: Hold Disclosure: Held
