Guys, it seems that many of our holding are under water to say the least. This will be my second post in a long time and let other 'disappointed' shareholders know that others have been watching and sharing the pain. As with my last positng on ELK, it seems that the current price fall is due to the general market lack of confidence and 'desparate sellers'.
Again it seems that TRF, and IFE, are a prime supplier to the chinese who wish to dismantle the RIO/BHP/Vaile strangehold on iron ore. While a small operaiton, it nevertheless will be an important supplier and a means for the chinese to break the cartel and the development of port bonython should show the strength and willingness of the SA govt to support mining in SA.
IFE have appointed a project manageer to get production up and running. This to me was an extremely positive development which seems to have gone under the radar.
The next news which should be important and justify our holdings will the 100m JORC deposits. If when compares the number of shares on issue to the number of tonnes of iron ore one gets, TRF with 60% ends up with close 1 tonne per share (based on the 100m reserve)which is some 40c per tonne. this simply example shows how undervalued TRF is just on Fe, let alone on the other holding.
To all the long term holders good luck and there is light at the end of the tunnel.
TRF Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
