The market doesn't miss these opportunities for this long, especially when there has been some institutional involvement. You might be on a stealth play for a few months but i can't accept that we've been under the radar for 2 years (about when I got in I think).
All I can think is that the market isn't buying the net risk to date. The benefits must not be outweighing the risks that you've highlighted. The big brokers have RIO with targets 30%+ where they are now, and that's on conservative Iron Ore prices. If that gap isn't being closed what hope do we have. I know that multibag has much more allure than 30%, but multibaggers exist on risk.
I can't work this IFE neglect out, but I'm holding a copper junior turning producer that has Mac bank, Nick Farr Jones' resources fund and George Soros' fund amongst it's investors. They are steaming to first half 2012 production of 35-50kt and they have not missed a beat in the 5 or so years I've held. They are always conservative in their reporting and they never miss their guidance (not unreasonably anyway). This isn't a gloat, I'm bloody frustrated with IFE, I'm just trying to highlight my respect for the management team of my other holding versus what IFE have put out in the last 2 years.
I really appreciate what you guys put forward, especially today, and I'm not an IFE hater (I'm an optimistic holder), but there has to be a reason that we're languishing, and it ain't that we're in stealth mode. I reckon we don't have institutional respect and that's not the holders fault, that responsibility lies with the company whether they like/agree with it or not.
Maybe it's an SA thing, maybe we got in 3 years too early. SA will go nuts in the next ten years. The insto's will probably be throwing money at the state soon.
IFE comes across as innovative but unreliable. I hold with hope. Best of 'luck' to all. Let's see that bloody licence first half of August eh!!
TYX Price at posting:
68.0¢ Sentiment: Hold Disclosure: Held
