Seaemay, The relationship between IFE asnd TRF is a bit...

Seaemay, The relationship between IFE asnd TRF is a bit different to what you suggest. Basically the Fe (and no other minerals) at Wilcherry Hill is owned 80% by IFE and 20% TRF (under a free-carried arrangement which means TRF does not have to contribute to the production costs). But then TRF also owns approx 24% of the shares in IFE which means, when you do the maths, TRF has roughly 50% of the Wilcherry Fe. Both companies have approx the same number of shares on issue so this is why IFE s.p. has for a long time been roughly double TRF. That has changed more recently as investors have recognised the added value that may be lurking in TRF's other assets (the other minerals at Wilcherry plus all the additional tenements it holds together with the holding in OGX). The way I see it, TRF s.p. can never be less tha 50% IFE s.p because they each effectively own half of the W Hill Fe. So if there is going to be an out-performance it will be from TRF having value ascribed to its other assets. Again I point out it is no coincidence that IF has most of his investment in TRF.... GLA and DYOR