low director take up...

Looks like the market sold down on the tiny take up of last offer in IFE by 2 main directors. However they hold many millions through TRF entity. So they are far more loaded up in TRF than the tiny amount in IFE.

I do not determine this as low sentiment as some may have- thus the sell off. As all their millions of shares are tied up in TRF. IFE success is TRF success. SP raises in IFE then so does TRF. Whether one outperforms the other is only determined by other TRF projects.

FOr my money Directors believe the TRF will most likely outperform in the LT. IMO. As they hold many millions plus millions of Oppies to convert.

Later this year Ian has $1.66 TRF Oppies to convert and $3 IFE Oppies. Could be wishful thinking yet would love to see these converted- little overly optimistic perhaps.