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clock Created with Sketch. 03/10/14
20:18
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Originally posted by rester
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Whilst the Directors of Trafford have noticed the news release from IFE, I notice that there has been no recent news on the great tin province or the fantastic gold assays in South America. Suspect that Arrium is under tremendous pressure with the huge capital raising coming up so will be surprised if there is much action on the Wilcherry Hill deposit in the near term. The low iron ore prices are also likely to dampen spirits. Think TRF is in real trouble at the moment. Looking at the previous cash flow statement and the fact that they needed to take out a $450k loan (to presumably pay for salaries and admin) is not good news. There is probably little or no money to do any exploration so it is now survival mode. Heard via the grapevine that some staff are now on 1/2 pay.
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Half pay is sure better than what the shareholders are on imo.
