looking good now, page-4

Blythefan,

If you are a shareholder of IFE, it does not matter how much Trafford own of IFE. The good thing is that we have a major shareholder who can liquidate their ROL holdings and contribute half the money needed to the next capital raising which ensures IFE goes into production.

IFE was set up for the iron ore only, so good luck to TRF if they find gold. ( I am a TRF holder as well)

You are right, look at the numbers and all I see based on the last PFS is a minimum cash profit of $50 if iron ore prices go down to $100p/t.(currently $130 - $150).

So even at 1.5mill tonne per year not 2mill as expected by year 2 of the project, we have about $75mill profit less 20% to TRF which leaves $60mill to IFE.

Is this such a bad scenario for IFE holders which if 15mill shares get issued, means there will be 67mill issued shares all up, going into production?

The cash profit will be 89c a share with net profit after tax and depreciation around 70c per share. Current share price 94.5c. Do you think there maybe a bit of upside for IFE shareholders from here?

Only a DFS showing a major increase from the PFS $51 cost per tonne estimate, that the above scenario I provided would change.

At this stage nothing the company has said indicates an increase, if anything I think the costs could come down and the price we fetch for our iron ore could be at least $30higher than my estimate.

You are right, do the real maths.