announcement just out, page-2

Just as one might expect from good management, progressing the project quickly with minimal dilution and taking care of the existing shareholders!

I believe I posted the guesses below just two days ago...




The ARH case also shows the demand out there for quality magnetite projects. The fact that TRF is still way undervalued is a given and bear in mind that the price projections that people like T4P and myself have worked out are FAR FAR on the conservative side.

My "most likely" scenario is that they prove up at least 300MT after funding the JORC drilling and plant/infrastructure through a JV/earn-in deal, or spinoff IPO. This reduces the dilution for existing shareholders in relation to the currently undervalued IOCGU tenements.

The price of one TRF share now is around $1.8-2.00. This could quite easily be twice or thrice that figure on aggregate once all the corporate action falls into place.

The upside figure above is just an estimate based on current market reaction to uranium results of any significant quality. This is the uncertain part.. the magnetite project is almost certain to go ahead.

This is of course unless someone CITIC/CKI/Noble Group or other steel/iron trader doesn't swoop in and make Finch and crew an offer they can't refuse. Given the upside on the table this would have to be a very significant offer though!

Cheers,
UIO