Ian Finch stated yesterday this is the first time IFE have issued shares to larger institutions since the float.
The majority of the $6mil raised now was some of the bigger players. They haven't finished yet either, and are waiting to take up the shortfall of the shareholders who won't be taking up their rights issue at 75c.
The corporate take up shows there is confidence now with the project, and as you say it will be more so as each new progress announcement comes out.
TRF Price at posting:
41.5¢ Sentiment: LT Buy Disclosure: Held
