Hi All, IMO! Annual report disappointing as expected. Not too impressed with being down graded to the tail of a whale especially as the Japanese whaling fleet is out and about! I.F. should try his hand at writing novels, probably would get more success in that field, he's not bringing us much luck in the exploration field that's for sure. Frankly I'd rather be associated with Aladdin's Cave than the tail end of a whale! Unfortunately the boom looks to be over , we need rather more than I.F's spruiking to keep TRF afloat. So where are we at? Unfortunately iron ore is a no-no unless you are a BHP or RIO who can economically mine at prices which would bankrupt all the juniors. IMO IFE won't make a cent profit from iron ore so no return to TRF from that source in the foreseeable future. Can't fathom how Arrium can help either, they have problems of their own. Gold looks to be entering a prolonged phase of weak prices so OGX would need to find a bonanza deposit to order to contribute anything to TRF's coffers. Unfortunately bonanza deposits are extremely rare and there isn't any evidence to suggest OGX have the goods at present. I remain a trifle bearish on the prospects for TRF's manganese prospects too , IMO manganese will track down with iron ore. Tin looks to be TRF's best prospect though the overall grades aren't that impressive. TRF has a market capitalisation of only A$6 million so there is some hope that exploration success, even only in the short term, might kick the SP up, especially if the Ozzie dollar continues to weaken. In hindsight not one of my better investments but I'll hang in hoping for some good news. The whale had better surface soon or TRF will drowned! BOLTA!
TRF Price at posting:
4.9¢ Sentiment: None Disclosure: Held
