Ok, I was intrigued by the news to me that S.P. was a previous...

Ok, I was intrigued by the news to me that S.P. was a previous "long termer", so I searched a bit of history to see if I could work out what changed his mind. Couldn't find anything obvious. I suspect it is general suspicion, but hopefully S.P. may provide more concrete reasons for his change of heart.

I also hope S.P. doesn't mind me reproducing a previous post of his here. I acknowledge that this is not his current sentiment. It is actually a great post, and fits nicely with our current price surge.

From SiameseParrot http://hotcopper.com.au/post_single.asp?fid=1&tid=1330954&msgid=7490272
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In my opinion of what it will be like when IFO gets a major rerating following the release of its feasibility study and finalisation of financing.

There will imo come a time where buyers are scrambling to get on board this tight ship, just over 50% owned by TRF, but where will the sellers be for them to get their scrip?

Currently IFE is up 6.5 cents to 96 cents, with I'd imagine what is a small bot bid at 97 cents.

As some of you may know, I am heavily invested in the gold sector. What excites me about IFE is when, in order to understand IFE better, I looked at IFE's planned 2 million tonnes per annum direct shipping iron ore production starting next year and translated it into gold terms.

Based on the amended Roadshow Presentation released to the ASX on 7th. December, for those who follow gold, to put this in gold terms IFE at 2 million tonnes a year direct shipping ore production is aiming to be a 200,000 ounces per year gold producer with costs of $850 an ounce and receipts of $1400 an ounce at a cost of only about $30 million to get into production!!

Now throw in the fact that IFE currently only has around 52 million shares on issue - with not that many more I'd imagine, following the completion of the small capital raising needed, and based on what has been announced, I also assume a little debt finance.

This is mind boggling stuff. How gold producers would love this scenario. It blows away just about every emerging gold producer!