looking good now, page-5

yes the maths does stack up, i'm really not sure why that would be in question!

At the end of the day, TRF owns more of the W.H. project, but that doesnt mean IFE is somehow in a bad position!!! Both TRF & IFE are going to do very well once production starts, and both companies will have ridiculous PE's at that time.

Personally, i own more IFE than TRF, but that was due to a timing thing (bought IFE under 20c) but i suspect there will be many that will head to TRF in the first instance as W.H. gold results etc appear. But there is only so much stock in either company, so you get what you can in the mad scramble that i foresee.

Not trying to ramp here, just feeling that logic will surely one day finally prevail with these investments!

cheers,
Split