>>Just an update on Jay's ball park figures (post rights issues);
Current MC = 48 million.
ASSETS;
1) 50% IFE = 33.5 million
2) 20% IFE free carry = 17 million
3) 100% S.A. ground assets = 5 million
4) ROL investment = 11.5 million
Total = 67 million
Holding stategic investments in prized and grossly undervalued assets and STILL trading at over a 30% discount to their CURRENT values!
Stagman<< Update the MC down 20% again Stagman... looks to be getting 40% below it assets- the market is yet to wake up to this fact.
Some profit takers from the 50c offer have held the stock back, as moved above 60 recently. Now back to low 50s. Yet the volume has been amazingly low to me. Except when we could not hold above 60c, then profit takers looked to take profits above 50c.
Very low volume for the increase- when this company releases all is on track for the release of Iron Ore to China- BOOM- IMO. Many await for them to actually become producers with their first sale and shipment. Although they look to have the sales taken care of...
The last few months has amazed me with TRF value wise. As they proven to simply not be a Holding company. Their asset value still far over 30% below their SP.
The market is wrong IMO and I for one will keep taking advantage of this situation while I still can--- as it is currently UNLOVED & UNWANTED.
Why would the Directors BET 100s of 1000s of their own money taking out the 50c Offer, unless they were sure of their progress. Common sense to follow insiders in this company-IMO.
I was looking especially to the Directors whether they would take up the offer as a sign of confidence. They took up their full entitlements out of their own pocket. The remaining outstanding shares of the offer was snapped up by those I gather associated to insiders.
After reviewing the presos, talking with management, confident moves from Directors and trying to look into the future... This appears a very good bargain, as they will be rerated once in production. They have a very competent team to lead them into successful production of both Iron Ore and Gold.
Then rated on forward PE basis by value investors. It will be far more than the current MC. IMO.
I will not disclose my target as it will appear outragous ramping, yet forward looking projections by Management are in past presos.
The TRF Post is correctly dead.
TRF Price at posting:
49.0¢ Sentiment: Buy Disclosure: Held
