trf has dream territory, page-8

"get diluted down to 20% (eventually.)"

Missing the point, I believe PLUS not correct.

How does TRF "get diluted down to 20% (eventually.)"??

TRF has a free carried 20% interest in the project. This 20% interest is part of the 50% at present still held by TRF.

PLUS 100% credits to any other resources such as gold. I believe from the nature of the mineralisation it is very likely there will be some gold produced as a by product and these gold credits could add up to a nice little earner for TRF.

PLUS TRF currently has a 50% shareholding in IronClad through its equity of 20 million shares.

PLUS TRF currently has 50% of the project in its own right. The additional 30% will be held by IronClad after significant drilling has taken place - about $10 million worth from memory.

So after this scenario:

1. TRF will hold rights to 20% of the project's iron ore PLUS ALL OTHER MINERALS.

2. TRF will hold 50% of IronClad which will hold 80% of the project. That equates to another 40% of the project belonging to TRF, making TRF's holding 60%.

3. At this stage it is reasonable to assume significant progress with the project and a significantly higher market rating. .

How low can TRF shares go?

I don't like picking bottoms on prices that are falling.

All I know is that imo iron ore demand is not going to suddenly disappear from places like China and India.

TRF looks a solid buy for medium term investors around current prices. That is not to say the price cannot fall lower.

But once we start getting positive news coming on the project I expect a huge rebound in the TRF share price and I also expect TRF to move on to new highs.

We are in a long term commodities bull market due to massive growth in places like China and India - massive internal industrialisation combined with more than 20 years of minimal exploration and development of new projects.