reason to hold or not, page-3

Very interesting and informative discussion on MRRT.

I was impressed with Mike Young's thoughts on where the mining industry is today, and noted his optimisim, believing the mining industry have come out on top of the govt.

He pointed out Martin Fergusion's admission in Perth recently, that the mining industry consultation was flawed. and that the govt. have learnt a lot during the last 8 weeks. Mike believes the mining industry will now be taken seriously in future consultation, as it has shown honesty and credibility during its campaign.

Mike invited Ian and other small miners to keep knocking on Canberra's door, to help shape the policy, as treasury & govt need to be educated, and they have the capacity to work with govt. for a better outcome for miners and shareholders.

Of course funding is the problem for junior miners, no one even knows at what point the benefisication stage begins, very complex tax given several types of iron ore all being taxed differently, which is why it will be so important experienced miners are being heard while the nitty gritty gets sorted.

Ian mentioned TRF aims to become a self funded exploration company to ride thru these times with 3 or 4 streams of revenue going into its central body TRF.

Mike Young mentioned IFE's very high quality product. I believe in IFE's great potential and not long now until money is raised to complete DFS, BFS and get into production.

I admire the way Ian handles these challenges, being mining explorer he is part of a dying breed. As a shareholder I came happy to hold, take up my entitlement issue and continue to support IFE now and into the future.