Happy New Year all ! Not much happening here - still ! But at this price there doesn't seem to be much downside. MC of 21.5m must surely be covered by the identified resource even if management are incapable of getting it out of the ground. Amended port consent should come through soon - then the only hurdle will be funding. Even if that has to be achieved by a CR (which will clearly have a huge diluting effect) it is better to have 50% of something instead of 100% of nothing. It worries me a bit that there is a big seller dumping at these prices (probably the same one selling 500k TRF). Usually these big holders have insider knowledge but it could just be some punter who has had enough (Tinkler wanting to buy another horse ?) . I am happy that my holding is now entirely through TRF - limited dilution because of free carried interest , plus more strings to its bow with OGX and various other tenements. Still, IFE is a big part of TRF which really needs some cashflow...
TYX Price at posting:
20.0¢ Sentiment: ST Buy Disclosure: Not Held
