Hi Gordon,whilst I sympathise with your sentiment as I am...

Hi Gordon,
whilst I sympathise with your sentiment as I am increasingly frustrated with this company as I see so much potential at the moment without any movement in shareprice, I do feel you maybe being a little harsh.

Although you are correct in what you say, the finer details do provide some explanations for Ian and co - i.e. the mining that was meant to commence 12 months ago was based (I think) on a JV with a Chinese company that pulled the pin with the introduction of the Mining tax - a hard one for Ian to manage.

Secondly, the target for mining in 2011 was based on the assumption that the SA government would approve the license in 6 months which turned out to be a little longer which is not really Ian's fault.

So whilst there has been delays, I don't see it as all IFE's fault and the big positive for me is that although slower than expected, IFE are ticking the boxes. Latest word is that mining will commence in Jan with shipping to come after that.

Yes this may not have all the bells and whistle's but it is a company with a m/cap of $50m so I guess it is risk v reward.

I base my investment on the reward being huge as long as they keep making progress, a delay here and there is frustrating but still acceptable.

IFE is not perfect I agree, but hopefully will be a profitable miner in the next few months.

Regards,
W.

P.S. They cannot announce that they have started mining as they haven't yet, they need the environment license.